Data as of .
CVRD vs SPYI: which paid, and which earned it?
Over the year SPYI paid 13.1% of its price in cash against CVRD’s 7.4%, and returned more with it reinvested.
ETFIQ Return Stability Score: SPYI scores higher
Was the payout funded by returns, or by your own capital?
A percentile among the 173 income ETFs writing on an index or proxy. It is a position in a set, not a rating, and neither end of it is a recommendation. All income ETFs ranked by it · How it is computed
What they hold in common
By the books each fund has filed, CVRD and SPYI hold 18% of their money in the same securities at the same weight.
| Holding | CVRD | SPYI |
|---|---|---|
| Microsoft Corp | 3.88% | 5.62% |
| Amazon.com Inc | 4.06% | 3.82% |
| Broadcom Inc | 3.57% | 2.59% |
| Meta Platforms Inc | 2.66% | 2.22% |
| Visa Inc | 3.68% | 0.93% |
| Palo Alto Networks Inc | 4.84% | 0.45% |
| Salesforce Inc | 2.47% | 0.33% |
| QUALCOMM Inc | 2.04% | 0.28% |
| PepsiCo Inc | 3.07% | 0.27% |
| NextEra Energy Inc | 2.49% | 0.25% |
| Union Pacific Corp | 3.17% | 0.25% |
| Blackrock Inc | 3.03% | 0.23% |
| Only in CVRD | Only in SPYI |
|---|---|
| Matador Resources Co 2.98% | NVIDIA Corp 8.28% |
| Transocean Ltd 2.93% | Apple Inc 7.52% |
| Alphabet Inc 3.12% | |
| Alphabet Inc 2.50% | |
| Micron Technology Inc 1.74% | |
| Tesla Inc 1.58% | |
| Berkshire Hathaway Inc 1.43% | |
| JPMORGAN CHASE & CO. 1.43% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated Jun 30, 2026 and Sep 21, 2026.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| CVRD | SPYI | CVRD | SPYI | CVRD | SPYI | |
| 3 months | +4.0% | +3.1% | 1.7% | 3.0% | +1.7 pts | +0.9 pts |
| 6 months | +5.7% | +14.4% | 3.3% | 6.5% | −12.3 pts | −3.6 pts |
| 1 year | +5.6% | +15.3% | 7.4% | 13.1% | −11.0 pts | −1.2 pts |
| 3 years | +19.5% | +57.2% | 25.9% | 38.6% | −58.9 pts | −21.2 pts |
| Since launch | +21.1% | +77.1% | 26.3% | 50.3% | −59.8 pts | −25.3 pts |
| CVRD Madison Covered Call ETF Covered call on SPY, paying quarterly | SPYI NEOS S&P 500(R) High Income ETF Option income on SPY, paying monthly | |
|---|---|---|
| Issuer | Madison | NEOS |
| Strategy | covered call | option income |
| Benchmark | S&P 500 (SPY), used as a default proxy | S&P 500 (SPY) |
| Pays | quarterly | monthly |
| Payout rate, annualized | 6.5% | 12.1% |
| Expense ratio | 0.92% | 0.68% |
| Cash paid, 1 year | 7.4% | 13.1% |
| Price change, 1 year | −2.2% | +1.2% |
| Total return, 1 year | +5.6% | +15.3% |
| Benchmark return, 1 year | +16.6% | +16.6% |
| Ahead or behind | −11.0 pts | −1.2 pts |
| Return of capital, latest estimate | not published | 93% |
| Age | 1123 days | 1480 days |
| Net assets | $32m | $12.2bn |
CVRD in plain words
Over the year to Sep 18, 2026, CVRD paid 7.4% of its starting value in cash distributions while its price fell 2.2%. With every distribution reinvested, the fund returned +5.6%. S&P 500 (SPY), used as a default proxy returned +16.6% over the same days, so a holder was behind by 11.0 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 6.5%, paid quarterly.
SPYI in plain words
Over the year to Sep 18, 2026, SPYI paid 13.1% of its starting value in cash distributions while its price rose 1.2%. With every distribution reinvested, the fund returned +15.3%. S&P 500 (SPY) returned +16.6% over the same days, so a holder was behind by 1.2 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 12.1%, paid monthly. NEOS estimates that 93% of the distribution paid Jun 18, 2026 was a return of capital (19a-1 notice, estimated, a tax characterization rather than a measure of erosion).
Questions people ask
- Which paid more, CVRD or SPYI?
- Over the year to Sep 18, 2026, CVRD paid 7.4% of its starting price in cash and SPYI paid 13.1%, so SPYI paid more. Cash paid is not the same as money made: the price change matters too.
- Which returned more once distributions are counted, CVRD or SPYI?
- With every distribution reinvested, CVRD returned +5.6% and SPYI returned +15.3% over the year to Sep 18, 2026, so SPYI returned more.
- Which is cheaper, CVRD or SPYI?
- CVRD charges 0.92% a year and SPYI charges 0.68%, so SPYI is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, CVRD against SPYI, data as of Sep 18, 2026. https://etfiq.com/compare/income/cvrd-vs-spyi Free to use with attribution; the underlying files are at Open data.