Data as of Nov 4, 2026.
DUBS vs SPYI: Dividend Yield & Total Return
Over the year to Nov 4, 2026, SPYI paid 12.1% of its price in cash against DUBS’s 2.3%, though DUBS returned more with it reinvested.
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Net assets: $398m on Jul 31, 2026 for Aptus Large Cap Enhanced Yield ETF, and $12.7bn on Oct 28, 2026 for NEOS S&P 500 High Income ETF.
3.8 pts ahead of SPY
DUBS over 1 year: paid 2.3%, price +16.0%, total +18.6%, SPY +14.8%, +3.8 pts. Data to Nov 4, 2026.
SPY
+14.8%
DUBS
+18.6%
2.3% cash
3.8 pts ahead of SPY
Total return, distributions reinvested
3.8 pts ahead of SPY
DUBS over 1 year: paid 2.3%, price +16.0%, total +18.6%, SPY +14.8%, +3.8 pts. Data to Nov 4, 2026.
SPY
+14.8%
DUBS
+18.6%
3.8 pts ahead of SPY
2.3% of it arrived as cash. Total return, distributions reinvested. DUBS over 1 year: paid 2.3%, price +16.0%, total +18.6%, SPY +14.8%, +3.8 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.0.8 pts behind SPY
SPYI over 1 year: paid 12.1%, price +1.1%, total +14.0%, SPY +14.8%, −0.8 pts. Data to Nov 4, 2026.
SPY
+14.8%
SPYI
+14.0%
12.1% of it arrived as cash
0.8 pts behind SPY
Total return, distributions reinvested
0.8 pts behind SPY
SPYI over 1 year: paid 12.1%, price +1.1%, total +14.0%, SPY +14.8%, −0.8 pts. Data to Nov 4, 2026.
SPY
+14.8%
SPYI
+14.0%
12.1% cash
0.8 pts behind SPY
12.1% of it arrived as cash. Both charts share one scale, 0 to +18.6%. SPYI over 1 year: paid 12.1%, price +1.1%, total +14.0%, SPY +14.8%, −0.8 pts. Data to Nov 4, 2026.
Both charts share one scale, 0 to +18.6%. Data to Nov 4, 2026.Pair scorecard
DUBS costs 0.28 points a year less; their one-year returns differ by 4.6 points.
Points (pts) are percentage points.
| Measure | DUBS | SPYI |
|---|---|---|
| Paid and earned | ||
| Total return, 1 year | +18.6% | +14.0% |
| Price change, 1 year | rose 16.0% | rose 1.1% |
| Return of capital, issuer estimate | 71% of the Sep 30, 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 | 0.40% | 0.68% |
| Net assets, DUBS as of Jul 31, 2026 and SPYI as of Oct 28, 2026 | $398m | $12.7bn |
| Holdings | ||
| Holdings in common | 0% | |
How much of its payouts the fund's total return covered, ranked against 167 income ETFs not writing on a single company. 100 is best. How it is computed
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 →
Risk and return
Jun 23, 2023 to Oct 30, 2026 · 175 weekly returns · each against SPYFrom Jun 2023 to Oct 2026, DUBS returned more: +83.8% to +59.6%. SPYI swung less: 11.4% to 13.5%. SPYI fell slightly less at its worst: −14.8% to −16.4%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | DUBS | SPYI | SPY | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +83.8% | +59.6% | DUBS | Price change plus distributions, reinvested. | |
| Annualized | +19.8% | +14.9% | DUBS | Total return as a yearly rate. | |
| Price return | +70.2% | +6.7% | DUBS | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 13.5% | 11.4% | SPYI | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 8.8% | 7.7% | SPYI | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −16.4% | −14.8% | SPYI (slight) | Deepest fall from a high to the low after it. | |
| Upside capture | 95.7% | 68.8% | 100.0% | DUBS | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 95.8% | 81.7% | 100.0% | SPYI | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 0.96 | 0.79 | 1.00 | SPYI lower | How far it moves for each 1% its benchmark moves. |
| R squared | 0.98 | 0.96 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 1.07 | 0.88 | DUBS | Return above Treasury bills per unit of volatility. | |
| Sortino | 1.65 | 1.30 | DUBS | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.151 | 0.126 | 0.142 | DUBS | Return above Treasury bills per unit of beta. |
| Calmar | 1.21 | 1.01 | DUBS | 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 | −1.3% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 0.98 | −1.06 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −0.9% to +2.8% | −3.6% to +1.1% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | 0.16 | −1.16 | DUBS | Return against its benchmark per unit of tracking error. | |
| Tracking error | 1.8% | 3.6% | 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, 175 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, DUBS and SPYI hold 0% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Nov 3, 2026.
half
0% in common
Only in one fund ↓
Side by side
As of Nov 4, 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 | DUBS | SPYI | DUBS | SPYI | DUBS | SPYI |
| 3 months | +0.6% | +1.1% | 0.6% | 2.9% | +0.7 pts | +1.3 pts |
| 6 months | +6.7% | +5.8% | 1.1% | 6.0% | +1.7 pts | +0.7 pts |
| 1 year | +18.6% | +14.0% | 2.3% | 12.1% | +3.8 pts | −0.8 pts |
| 3 years | +85.1% | +62.0% | 9.9% | 39.3% | +2.2 pts | −20.9 pts |
| Since launchNot the same days: DUBS Jun 2023 · SPYI Aug 2022 | +86.4% | +78.5% | 10.2% | 51.3% | +3.2 pts | −25.2 pts |
Client brief:
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DUBS
Over the year to Nov 4, 2026, DUBS paid 2.3% of its starting value in cash distributions while its price rose 16.0%. With every distribution reinvested, the fund returned +18.6%. S&P 500 (SPY) returned +14.8% over the same days, so a holder was ahead by 3.8 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 2.2%, paid quarterly. Aptus estimates that 71% of the distribution paid Sep 30, 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 Nov 4, 2026, SPYI paid 12.1% of its starting value in cash distributions while its price rose 1.1%. With every distribution reinvested, the fund returned +14.0%. S&P 500 (SPY) returned +14.8% over the same days, so a holder was behind by 0.8 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 11.5%, 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, DUBS against SPYI, data as of Nov 4, 2026. https://etfiq.com/compare/income/dubs-vs-spyi
ETFIQ. (Nov 4, 2026). DUBS against SPYI. Retrieved from https://etfiq.com/compare/income/dubs-vs-spyi
[DUBS against SPYI (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/income/dubs-vs-spyi)
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