Which is cheaper, IQQQ or NLSI?

IQQQ charges 0.55% a year and NLSI charges 2.89%, so IQQQ is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

IQQQ vs NLSI: Dividend Yield & Total Return

IQQQ and NLSI both write options for income.

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Net assets: $380m on Nov 4, 2026 for ProShares Nasdaq-100 High Income ETF, and $5.3m on Oct 28, 2026 for NEOS Long/Short Equity Income ETF.

IQQQ on its own →NLSI on its own →

At a glance

6.8%

IQQQ cash paid, 1 year

5.0%

NLSI cash paid, since launch, Dec 10, 2025

+7.4%

IQQQ total return, 1 year

+17.7%

NLSI total return, since launch, Dec 10, 2025

IQQQ · 1 year to Nov 4, 2026 4.9 pts behind QQQ

IQQQ

+7.4%

QQQ

+12.3%

4.9 pts behind QQQ

IQQQ over 1 year: paid 6.8%, price +0.5%, total +7.4%, QQQ +12.3%, −4.9 pts. Data to Nov 4, 2026.

QQQ

+12.3%

IQQQ

+7.4%

6.8% of it arrived as cash

4.9 pts behind QQQ

Total return, distributions reinvested

4.9 pts behind QQQ

IQQQ over 1 year: paid 6.8%, price +0.5%, total +7.4%, QQQ +12.3%, −4.9 pts. Data to Nov 4, 2026.

QQQ

+12.3%

IQQQ

+7.4%

4.9 pts behind QQQ

6.8% of it arrived as cash. Total return, distributions reinvested. IQQQ over 1 year: paid 6.8%, price +0.5%, total +7.4%, QQQ +12.3%, −4.9 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

NLSI · since launch to Nov 4, 2026 5 pts ahead of SPY

NLSI

+17.7%

SPY

+12.7%

5 pts ahead of SPY

NLSI since launch: paid 5.0%, price +12.0%, total +17.7%, SPY +12.7%, +5.0 pts. Data to Nov 4, 2026.

SPY

+12.7%

NLSI

+17.7%

5.0% as cash

5 pts ahead of SPY

Total return, distributions reinvested

5 pts ahead of SPY

NLSI since launch: paid 5.0%, price +12.0%, total +17.7%, SPY +12.7%, +5.0 pts. Data to Nov 4, 2026.

SPY

+12.7%

NLSI

+17.7%

5 pts ahead of SPY

5.0% of it arrived as cash. Both charts share one scale, 0 to +17.7%. NLSI since launch: paid 5.0%, price +12.0%, total +17.7%, SPY +12.7%, +5.0 pts. Data to Nov 4, 2026.

Both charts share one scale, 0 to +17.7%. Data to Nov 4, 2026.

Pair scorecard

IQQQ costs 2.34 points a year less; IQQQ is far larger, $397m against $5.3m.

Points (pts) are percentage points.

IQQQ vs NLSI: Dividend Yield & Total Return
Measure	IQQQ	NLSI
Paid and earned
Measure	IQQQ	NLSI
Total return, 1 year	+7.4%	not published
Price change	rose 0.5% (1 year)	rose 12.0% (since Dec 10, 2025)
Return of capital, issuer estimate	93% of the Nov 6, 2026 payment	100% of the Oct 30, 2026 payment
Against its benchmark
Measure	IQQQ	NLSI
Benchmark	Nasdaq-100, measured through QQQ	S&P 500, measured through SPY
Against its benchmark, same days	behind by 4.9 pts	ahead by 5.0 pts
Cost and size
Measure	IQQQ	NLSI
Expense ratio	0.55%	2.89%
Net assets, as of Oct 28, 2026	$397m	$5.3m
Holdings
Measure	IQQQ	NLSI
Holdings in common	7%

Method

What they share

By the books each fund has filed, IQQQ and NLSI hold 7% of their money in the same securities at the same weight. Holdings dated Aug 31, 2026 and Nov 3, 2026.

50%

0 half 100%

half

7% in common

Positions both hold · largest shared weight first IQQQ NLSI

Micron Technology, Inc. 4.06% 12.00%

T-Mobile US, Inc. 0.73% 4.14%

Seagate Technology Holdings plc 0.70% 4.06%

Western Digital Corp. 0.58% 2.46%

Intuit, Inc. 0.37% 4.45%

AppLovin Corp. 0.36% 2.75%

NXP Semiconductors NV 0.21% 3.23%

Diamondback Energy, Inc. 0.21% 4.22%

PayPal Holdings, Inc. 0.17% 4.29%

Teradyne, Inc. 0.20% -1.31%

Applied Materials, Inc. 1.36% -1.44%

Alphabet, Inc. 2.69% -1.47%

Only in one fund ↓

Only in IQQQ

NVIDIA Corp. 7.26%

Apple, Inc. 6.32%

Microsoft Corp. 5.12%

Advanced Micro Devices, Inc. 2.88%

Tesla, Inc. 2.50%

Alphabet, Inc. 2.49%

Broadcom, Inc. 2.39%

Intel Corp. 1.69%

Only in NLSI

Marathon Petroleum Corp 5.94%

Valero Energy Corp 5.14%

Chevron Corp 4.51%

Walt Disney Co 4.42%

Phillips 66 4.39%

Comfort Systems USA Inc 4.30%

American International Group Inc 4.28%

KKR & Co Inc 4.25%

Check overlap with more funds →

Side by side

IQQQ ProShares Nasdaq-100 High Income ETF · Option income on QQQ, paying monthly NLSI NEOS Long/Short Equity Income ETF · Option income on SPY, paying monthly

Issuer ProShares NEOS

Strategy option income option income

Benchmark Nasdaq-100 (QQQ) S&P 500 (SPY)

Pays monthly monthly

Payout rate, annualized 6.1% 5.6%

Expense ratio 0.55% 2.89%

Cash paid, 1 year 6.8% 5.0% (since launch, Dec 10, 2025)

Price change, 1 year +0.5% +12.0% (since launch, Dec 10, 2025)

Total return, 1 year +7.4% +17.7% (since launch, Dec 10, 2025)

Benchmark return, 1 year +12.3% +12.7% (since launch, Dec 10, 2025)

Ahead or behind −4.9 pts +5.0 pts (since launch, Dec 10, 2025)

Return of capital, latest estimate 93% 100%

Age 2.6 years 329 days

Net assets, IQQQ as of Nov 4, 2026 and NLSI as of Oct 28, 2026 $380m $5.3m

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

Window by window: IQQQ vs NLSI: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	IQQQ	NLSI	IQQQ	NLSI	IQQQ	NLSI
3 months	−4.4%	+6.7%	1.5%	1.4%	−0.9 pts	+6.9 pts
6 months	−2.6%	+21.4%	3.4%	3.0%	−2.3 pts	+16.4 pts
1 year	+7.4%	–	6.8%	–	−4.9 pts	–
Since launchNot the same days: IQQQ Mar 2024 · NLSI Dec 2025	+44.2%	+17.7%	25.6%	5.0%	−13.8 pts	+4.9 pts

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Alert

About each fund

IQQQ

Over the year to Nov 4, 2026, IQQQ paid 6.8% of its starting value in cash distributions while its price rose 0.5%. With every distribution reinvested, the fund returned +7.4%. Nasdaq-100 (QQQ) returned +12.3% over the same days, so a holder was behind by 4.9 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 6.1%, paid monthly. ProShares estimates that 93% of the distribution paid Nov 6, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.

NLSI

Over the period from its first trade on Dec 10, 2025 to Nov 4, 2026, NLSI paid 5.0% of its starting value in cash distributions while its price rose 12.0%. With every distribution reinvested, the fund returned +17.7%. S&P 500 (SPY) returned +12.7% over the same days, so a holder was ahead by 5.0 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 5.6%, paid monthly. NEOS estimates that 100% of the distribution paid Oct 30, 2026 was a return of capital (its 19a-1 notice).

Questions people ask

Which is cheaper, IQQQ or NLSI?: IQQQ charges 0.55% a year and NLSI charges 2.89%, so IQQQ is cheaper. Fees come from each fund's prospectus.

Other comparisons

IQQQ vs TPRY IQQQ vs JANH IQQQ vs JULJ IQQQ vs JANJ NLSI vs XQQI NLSI vs TDAQ NLSI vs ROCQ NLSI vs QYLG

Where to next

Nasdaq-100 (QQQ) →S&P 500 (SPY) →All income ETFs ranked by the Distribution Coverage Score →How the scores are computed →IQQQ on its own →NLSI on its own →IQQQ dividend history →IQQQ holdings →NLSI dividend history →NLSI holdings →Method →Standards and sources →

Sources and dates

IQQQ filings on SEC EDGAR ↗

IQQQ prospectus with the expense ratio (SEC) ↗

IQQQ 19a-1 distribution notice ↗

ProShares page for IQQQ ↗

NLSI filings on SEC EDGAR ↗

NLSI prospectus with the expense ratio (SEC) ↗

NLSI 19a-1 distribution notice ↗

NEOS page for NLSI ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, IQQQ against NLSI, data as of Nov 4, 2026. https://etfiq.com/compare/income/iqqq-vs-nlsi

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.