Data as of Oct 28, 2026.
BALI vs SPYI: Dividend Yield & Total Return
Over the year to Oct 28, 2026, SPYI paid 11.9% of its price in cash against BALI’s 8.3%, though BALI returned more with it reinvested.
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Net assets on Oct 27, 2026: $1.6bn for iShares U.S. Large Cap Premium Income Active ETF and $12.7bn for NEOS S&P 500 High Income ETF.
4 pts ahead of SPY
BALI over 1 year: paid 8.3%, price +8.4%, total +17.6%, SPY +13.6%, +4.0 pts. Data to Oct 28, 2026.
SPY
+13.6%
BALI
+17.6%
8.3% of it arrived as cash
4 pts ahead of SPY
Total return, distributions reinvested
4 pts ahead of SPY
BALI over 1 year: paid 8.3%, price +8.4%, total +17.6%, SPY +13.6%, +4.0 pts. Data to Oct 28, 2026.
SPY
+13.6%
BALI
+17.6%
4 pts ahead of SPY
8.3% of it arrived as cash. Total return, distributions reinvested. BALI over 1 year: paid 8.3%, price +8.4%, total +17.6%, SPY +13.6%, +4.0 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, 0 to +17.6%. SPYI over 1 year: paid 11.9%, price +0.8%, total +13.6%, SPY +13.6%, 0.0 pts. Data to Oct 28, 2026.
Both charts share one scale, 0 to +17.6%. Data to Oct 28, 2026.Pair scorecard
BALI costs 0.33 points a year less; their one-year returns differ by 4.0 points; SPYI is 7.9 times larger.
Points (pts) are percentage points.
| Measure | BALI | SPYI |
|---|---|---|
| Paid and earned | ||
| Total return, 1 year | +17.6% | +13.6% |
| Price change, 1 year | rose 8.4% | rose 0.8% |
| Return of capital, issuer estimate | 0% of the Oct 6, 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 | 0.35% | 0.68% |
| Net assets, as of Oct 27, 2026 | $1.6bn | $12.7bn |
| Holdings | ||
| Holdings in common | 60% | |
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 Oct 27, 2026 and Oct 28, 2026. Method
Risk and return
Oct 6, 2023 to Oct 23, 2026 · 159 weekly returns · each against SPYBALI returned more: +76.2% to +62.0%. SPYI swung slightly less: 11.5% to 12.3%. SPYI fell slightly less at its worst: −14.8% to −15.3%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | BALI | SPYI | SPY | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +76.2% | +62.0% | BALI | Price change plus distributions, reinvested. | |
| Annualized | +20.3% | +17.1% | BALI | Total return as a yearly rate. | |
| Price return | +37.8% | +11.6% | BALI | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 12.3% | 11.5% | SPYI (slight) | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 7.9% | 7.7% | SPYI (slight) | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −15.3% | −14.8% | SPYI (slight) | Deepest fall from a high to the low after it. | |
| Upside capture | 81.0% | 68.7% | 100.0% | BALI | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 86.6% | 81.0% | 100.0% | SPYI (slight) | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 0.85 | 0.79 | 1.00 | SPYI lower | How far it moves for each 1% its benchmark moves. |
| R squared | 0.97 | 0.96 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 1.21 | 1.04 | BALI | Return above Treasury bills per unit of volatility. | |
| Sortino | 1.87 | 1.56 | BALI | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.174 | 0.151 | 0.164 | BALI | Return above Treasury bills per unit of beta. |
| Calmar | 1.33 | 1.16 | BALI | Annualized return divided by the max drawdown. | |
| Against the benchmark | |||||
| Benchmark | SPY | SPY | SPY | The ETF each fund is measured against. | |
| Alpha | +0.9% a year | −1.0% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 0.71 | −0.82 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −1.5% to +3.3% | −3.5% to +1.4% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | −0.53 | −1.21 | BALI | Return against its benchmark per unit of tracking error. | |
| Tracking error | 3.0% | 3.7% | 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, 159 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, BALI and SPYI hold 60% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026 and Oct 28, 2026.
half
60% 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 | BALI | SPYI | BALI | SPYI | BALI | SPYI |
| 3 months | +5.9% | +6.4% | 1.7% | 3.1% | −0.3 pts | +0.3 pts |
| 6 months | +10.4% | +8.7% | 3.9% | 6.1% | +1.3 pts | −0.4 pts |
| 1 year | +17.6% | +13.6% | 8.3% | 11.9% | +4.0 pts | 0.0 pts |
| 3 years | +85.1% | +70.2% | 30.9% | 41.0% | −9.9 pts | −24.8 pts |
| Since launchNot the same days: BALI Sep 2023 · SPYI Aug 2022 | +78.9% | +79.8% | 29.9% | 51.3% | −8.0 pts | −25.4 pts |
BALI and SPYI are built for the same job. How do they differ in cost, holdings and results?
- Income paid. BALI paid 8.3% and SPYI 11.9% (cash paid over 1 year, as a share of its price at the start), a gap of 3.6 points.
- One-year total return. Over 1 year to Oct 28, 2026 BALI returned +17.6% and SPYI +13.6% with distributions reinvested, a gap of 4.0 points.
- Cost. BALI charges 0.35% of assets a year and SPYI 0.68%, a gap of 0.33 points.
Data as of Oct 28, 2026.
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BALI
Over the year to Oct 28, 2026, BALI paid 8.3% of its starting value in cash distributions while its price rose 8.4%. With every distribution reinvested, the fund returned +17.6%. S&P 500 (SPY) returned +13.6% over the same days, so a holder was ahead by 4.0 pts. At its price on Oct 28, 2026 the latest distribution annualizes to 6.1%, paid monthly. iShares estimates that 0% of the distribution paid Oct 6, 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, BALI against SPYI, data as of Oct 28, 2026. https://etfiq.com/compare/income/bali-vs-spyi
ETFIQ. (Oct 28, 2026). BALI against SPYI. Retrieved from https://etfiq.com/compare/income/bali-vs-spyi
[BALI against SPYI (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/income/bali-vs-spyi)
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