Data as of .
HYBI vs HYGW: which paid, and which earned it?
Over the year HYGW paid 9.9% of its price in cash against HYBI’s 8.6%, and returned more with it reinvested.
ETFIQ Return Stability Score: HYGW 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, HYBI and HYGW hold 0% of their money in the same securities at the same weight.
| Only in HYBI | Only in HYGW |
|---|---|
| United States Treasury Bill 12/01/2026 73.64% | BLK CSH FND TREASURY SL AGENCY 0.97% |
| State Street SPDR Portfolio High Yield Bond ETF 13.20% | 1261229 BC LTD 144A 0.57% |
| Xtrackers USD High Yield Corporate Bond ETF 13.20% | ECHOSTAR CORP 0.48% |
| SPXW US 10/01/26 P6800 0.01% | MERIDIAN ARC HOLDCO LLC 144A 0.48% |
| SPXW US 10/01/26 P6875 0.01% | CLOUD SOFTWARE GROUP INC 144A 0.36% |
| SPXW US 10/01/26 P6950 0.01% | PR RNO PROPERTY OWNER 1 LLC 144A 0.36% |
| SPXW US 10/01/26 P7100 -0.02% | CLOUD SOFTWARE GROUP INC 144A 0.33% |
| SPXW US 10/01/26 P7180 -0.02% | QUIKRETE HOLDINGS INC 144A 0.32% |
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 Sep 18, 2026 and Sep 21, 2026.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| HYBI | HYGW | HYBI | HYGW | HYBI | HYGW | |
| 3 months | −0.1% | +0.1% | 2.0% | 1.9% | +0.3 pts | +0.5 pts |
| 6 months | +1.9% | +2.8% | 4.0% | 5.4% | −0.6 pts | +0.2 pts |
| 1 year | +3.2% | +4.0% | 8.6% | 9.9% | +0.6 pts | +1.5 pts |
| 3 years | not published | +16.9% | not published | 32.1% | not published | −9.1 pts |
| Since launch | +8.4% | +24.5% | 16.0% | 45.9% | −1.6 pts | −6.8 pts |
| HYBI NEOS Enhanced Income Credit Select ETF Covered call on HYG, paying monthly | HYGW iShares High Yield Corporate Bond BuyWrite Strategy ETF Covered call on HYG, paying monthly | |
|---|---|---|
| Issuer | NEOS | iShares |
| Strategy | covered call | covered call |
| Benchmark | US high yield bonds (HYG), used as the proxy | US high yield bonds (HYG) |
| Pays | monthly | monthly |
| Payout rate, annualized | 8.2% | 7.5% |
| Expense ratio | not published | 0.69% |
| Cash paid, 1 year | 8.6% | 9.9% |
| Price change, 1 year | −5.5% | −6.0% |
| Total return, 1 year | +3.2% | +4.0% |
| Benchmark return, 1 year | +2.6% | +2.6% |
| Ahead or behind | +0.6 pts | +1.5 pts |
| Return of capital, latest estimate | 24% | not published |
| Age | 718 days | 1488 days |
| Net assets | $222m | $111m |
HYBI in plain words
Over the year to Sep 18, 2026, HYBI paid 8.6% of its starting value in cash distributions while its price fell 5.5%. With every distribution reinvested, the fund returned +3.2%. US high yield bonds (HYG), used as the proxy returned +2.6% over the same days, so a holder was ahead by 0.6 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 8.2%, paid monthly. NEOS estimates that 24% of the distribution paid Sep 11, 2026 was a return of capital (19a-1 notice, estimated, a tax characterization rather than a measure of erosion).
HYGW in plain words
Over the year to Sep 18, 2026, HYGW paid 9.9% of its starting value in cash distributions while its price fell 6.0%. With every distribution reinvested, the fund returned +4.0%. US high yield bonds (HYG) returned +2.6% over the same days, so a holder was ahead by 1.5 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 7.5%, paid monthly.
Questions people ask
- Which paid more, HYBI or HYGW?
- Over the year to Sep 18, 2026, HYBI paid 8.6% of its starting price in cash and HYGW paid 9.9%, so HYGW paid more. Cash paid is not the same as money made: the price change matters too.
- Which returned more once distributions are counted, HYBI or HYGW?
- With every distribution reinvested, HYBI returned +3.2% and HYGW returned +4.0% over the year to Sep 18, 2026, so HYGW returned more.
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, HYBI against HYGW, data as of Sep 18, 2026. https://etfiq.com/compare/income/hybi-vs-hygw Free to use with attribution; the underlying files are at Open data.