Data as of Oct 28, 2026.
AIPI vs SPYI: Dividend Yield & Total Return
Over the year to Oct 28, 2026, AIPI paid 30.4% of its price in cash against SPYI’s 11.9%, and returned more with it reinvested.
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Net assets on Oct 27, 2026: $490m for REX AI EQUITY PREMIUM INCOME ETF and $12.7bn for NEOS S&P 500 High Income ETF.
1.9 pts ahead of SPY
AIPI over 1 year: paid 30.4%, price −19.4%, total +15.5%, SPY +13.6%, +1.9 pts. Data to Oct 28, 2026.
SPY
+13.6%
AIPI
+15.5%
30.4% of it arrived as cash
1.9 pts ahead of SPY
Total return, distributions reinvested
1.9 pts ahead of SPY
AIPI over 1 year: paid 30.4%, price −19.4%, total +15.5%, SPY +13.6%, +1.9 pts. Data to Oct 28, 2026.
SPY
+13.6%
AIPI
+15.5%
30.4% as cash
1.9 pts ahead of SPY
30.4% of it arrived as cash. Total return, distributions reinvested. AIPI over 1 year: paid 30.4%, price −19.4%, total +15.5%, SPY +13.6%, +1.9 pts. Data to Oct 28, 2026.
Data to Oct 28, 2026.About even with SPY
SPYI over 1 year: paid 11.9%, price +0.8%, total +13.6%, SPY +13.6%, 0.0 pts. Data to Oct 28, 2026.
SPY
+13.6%
SPYI
+13.6%
11.9% of it arrived as cash
about even with SPY
Total return, distributions reinvested
About even with SPY
SPYI over 1 year: paid 11.9%, price +0.8%, total +13.6%, SPY +13.6%, 0.0 pts. Data to Oct 28, 2026.
SPY
+13.6%
SPYI
+13.6%
11.9% as cash
about even with SPY
11.9% of it arrived as cash. Both charts share one scale, with zero at the line. SPYI over 1 year: paid 11.9%, price +0.8%, total +13.6%, SPY +13.6%, 0.0 pts. Data to Oct 28, 2026.
Data to Oct 28, 2026.Pair scorecard
AIPI costs 0.03 points a year less; their one-year returns differ by 1.9 points; SPYI is far larger, $12.7bn against $490m.
Points (pts) are percentage points.
| Measure | AIPI | SPYI |
|---|---|---|
| Paid and earned | ||
| Total return, 1 year | +15.5% | +13.6% |
| Price change, 1 year | fell 19.4% | rose 0.8% |
| Return of capital, issuer estimate | 100% of the Oct 8, 2026 payment | 99% of the Oct 23, 2026 payment |
| Against its benchmark | ||
| Benchmark | S&P 500, measured through SPY | S&P 500, measured through SPY |
| Cost and size | ||
| Expense ratio | 0.65% | 0.68% |
| Net assets, as of Oct 27, 2026 | $490m | $12.7bn |
| Holdings | ||
| Holdings in common | 31% | |
How much of its payouts the fund's total return covered, ranked against 164 income ETFs not writing on a single company. 100 is best. How it is computed
A percentile among the 164 income ETFs not writing on a single company. One year only, and a ratio of two published numbers: it says nothing about where a distribution came from. All income ETFs ranked by it →
Holdings in common uses holdings dated May 31, 2026 and Oct 28, 2026. Method
Risk and return
Jun 14, 2024 to Oct 23, 2026 · 123 weekly returns · each against SPYAIPI returned more: +44.7% to +39.8%. SPYI swung less: 12.1% to 21.3%. SPYI fell less at its worst: −14.8% to −24.9%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | AIPI | SPYI | SPY | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +44.7% | +39.8% | AIPI | Price change plus distributions, reinvested. | |
| Annualized | +16.9% | +15.2% | AIPI (slight) | Total return as a yearly rate. | |
| Price return | −34.5% | +4.4% | SPYI | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 21.3% | 12.1% | SPYI | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 15.0% | 8.2% | SPYI | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −24.9% | −14.8% | SPYI | Deepest fall from a high to the low after it. | |
| Upside capture | 130.1% | 73.2% | 100.0% | AIPI | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 116.5% | 81.5% | 100.0% | SPYI | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 1.22 | 0.81 | 1.00 | SPYI lower | How far it moves for each 1% its benchmark moves. |
| R squared | 0.72 | 0.97 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 0.64 | 0.88 | SPYI | Return above Treasury bills per unit of volatility. | |
| Sortino | 0.92 | 1.31 | SPYI | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.112 | 0.133 | 0.124 | SPYI | Return above Treasury bills per unit of beta. |
| Calmar | 0.68 | 1.03 | SPYI | Annualized return divided by the max drawdown. | |
| Against the benchmark | |||||
| Benchmark | SPY | SPY | SPY | The ETF each fund is measured against. | |
| Alpha | −1.4% a year | +0.7% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −0.19 | 0.55 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −16.0% to +13.2% | −1.9% to +3.4% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | 0.12 | −0.47 | AIPI | Return against its benchmark per unit of tracking error. | |
| Tracking error | 11.7% | 3.5% | 0.0% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 123 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, AIPI and SPYI hold 31% of their money in the same securities at the same weight. Holdings dated May 31, 2026 and Oct 28, 2026.
half
31% in common
Only in one fund ↓
Side by side
As of Oct 28, 2026. Source: ETFIQ. Cash paid: distributions over the window, as a share of the starting price. Payout rate: the latest payment, annualized, over today’s price.
Window by window
| Total return | Cash paid | Against the benchmark | ||||
|---|---|---|---|---|---|---|
| Window | AIPI | SPYI | AIPI | SPYI | AIPI | SPYI |
| 3 months | +19.0% | +6.4% | 9.7% | 3.1% | +12.9 pts | +0.3 pts |
| 6 months | +18.5% | +8.7% | 15.9% | 6.1% | +9.4 pts | −0.4 pts |
| 1 year | +15.5% | +13.6% | 30.4% | 11.9% | +1.9 pts | 0.0 pts |
| 3 years | – | +70.2% | – | 41.0% | – | −24.8 pts |
| Since launchNot the same days: AIPI Jun 2024 · SPYI Aug 2022 | +58.9% | +79.8% | 67.1% | 51.3% | +8.5 pts | −25.4 pts |
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No client brief for this pair: the two funds' holdings are dated 150 days apart.
AIPI
Over the year to Oct 28, 2026, AIPI paid 30.4% of its starting value in cash distributions while its price fell 19.4%. With every distribution reinvested, the fund returned +15.5%. S&P 500 (SPY) returned +13.6% over the same days, so a holder was ahead by 1.9 pts. At its price on Oct 28, 2026 the latest distribution annualizes to 34.3%, paid weekly. REX estimates that 100% of the distribution paid Oct 8, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.
SPYI
Over the year to Oct 28, 2026, SPYI paid 11.9% of its starting value in cash distributions while its price rose 0.8%. With every distribution reinvested, the fund returned +13.6%. S&P 500 (SPY) returned +13.6% over the same days, so a holder was about even. At its price on Oct 28, 2026 the latest distribution annualizes to 11.4%, paid monthly. NEOS estimates that 99% of the distribution paid Oct 23, 2026 was a return of capital (its 19a-1 notice).
Questions people ask
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
It is a place in a set, not a rating or a recommendation.
Overlap adds up the smaller of the two weights for each security both funds hold.
Every number is an ETFIQ calculation with distributions reinvested.
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ETFIQ, AIPI against SPYI, data as of Oct 28, 2026. https://etfiq.com/compare/income/aipi-vs-spyi
ETFIQ. (Oct 28, 2026). AIPI against SPYI. Retrieved from https://etfiq.com/compare/income/aipi-vs-spyi
[AIPI against SPYI (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/income/aipi-vs-spyi)
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