Data as of .
DFII vs NEHI: which paid, and which earned it?
DFII and NEHI both write options for income.
What they hold in common
By the books each fund has filed, DFII and NEHI hold 0% of their money in the same securities at the same weight.
| Only in DFII | Only in NEHI |
|---|---|
| 2026-09-30 S&P 500® Mini Index P 2,997.6 1283.75% | United States Treasury Bill 80.67% |
| US Dollar 0.98% | iShares Ethereum Trust ETF 19.33% |
| 2026-09-30 iShares Bitcoin Trust ETF C 4 0.46% | |
| 2026-09-30 S&P 500® Mini Index C 2,810.2 0.01% | |
| 2026-09-30 S&P 500® Mini Index C 2,997.6 -0.01% | |
| 2026-09-25 iShares Bitcoin Trust ETF C 4 -0.36% | |
| 2026-09-30 iShares Bitcoin Trust ETF P 4 -8.84% | |
| 2026-09-30 S&P 500® Mini Index P 2,810.2 -1175.99% |
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 18, 2026.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| DFII | NEHI | DFII | NEHI | DFII | NEHI | |
| 3 months | +23.6% | +40.9% | 4.7% | 9.2% | −5.6 pts | −13.7 pts |
| 6 months | +10.5% | +16.5% | 8.4% | 14.7% | −5.2 pts | −7.2 pts |
| 1 year | −32.5% | not published | 11.5% | not published | −1.5 pts | not published |
| Since launch | −5.6% | −16.3% | 24.3% | 18.6% | −4.4 pts | −0.3 pts |
| DFII FT Vest Bitcoin Strategy & Target Income ETF Option income on IBIT, paying monthly | NEHI NEOS Ethereum High Income ETF Option income on ETHA, paying monthly | |
|---|---|---|
| Issuer | First Trust | NEOS |
| Strategy | option income | option income |
| Benchmark | Bitcoin (IBIT) | Ether (ETHA) |
| Pays | monthly | monthly |
| Payout rate, annualized | 17.4% | 31.6% |
| Expense ratio | 0.85% | 0.98% |
| Cash paid, 1 year | 11.5% | 18.6% (since launch on Dec 3, 2025) |
| Price change, 1 year | −43.7% | −36.5% |
| Total return, 1 year | −32.5% | −16.3% (since launch on Dec 3, 2025) |
| Benchmark return, 1 year | −31.1% | −16.0% |
| Ahead or behind | −1.5 pts | −0.3 pts |
| Return of capital, latest estimate | not published | 93% |
| Age | 533 days | 289 days |
| Net assets | $21m | $110m |
DFII in plain words
Over the year to Sep 18, 2026, DFII paid 11.5% of its starting value in cash distributions while its price fell 43.7%. With every distribution reinvested, the fund returned −32.5%. Bitcoin (IBIT) returned −31.1% over the same days, so a holder was behind by 1.5 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 17.4%, paid monthly.
NEHI in plain words
Over the period since launch on Dec 3, 2025 to Sep 18, 2026, NEHI paid 18.6% of its starting value in cash distributions while its price fell 36.5%. With every distribution reinvested, the fund returned −16.3%. Ether (ETHA) returned −16.0% over the same days, so a holder was about even. At its price on Sep 18, 2026 the latest distribution annualizes to 31.6%, 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 is cheaper, DFII or NEHI?
- DFII charges 0.85% a year and NEHI charges 0.98%, so DFII 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, DFII against NEHI, data as of Sep 18, 2026. https://etfiq.com/compare/income/dfii-vs-nehi Free to use with attribution; the underlying files are at Open data.