Data as of Nov 4, 2026.
IVVW vs NLSI: Dividend Yield & Total Return
IVVW and NLSI both write options for income.
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Net assets: $349m on Nov 4, 2026 for iShares IVV Premium Income+ ETF, and $5.3m on Oct 28, 2026 for NEOS Long/Short Equity Income ETF.
About even with SPY
IVVW over 1 year: paid 17.5%, price −4.1%, total +14.8%, SPY +14.8%, 0.0 pts. Data to Nov 4, 2026.
SPY
+14.8%
IVVW
+14.8%
17.5% of it arrived as cash
about even with SPY
Total return, distributions reinvested
About even with SPY
IVVW over 1 year: paid 17.5%, price −4.1%, total +14.8%, SPY +14.8%, 0.0 pts. Data to Nov 4, 2026.
SPY
+14.8%
IVVW
+14.8%
17.5% as cash
about even with SPY
17.5% of it arrived as cash. Total return, distributions reinvested. IVVW over 1 year: paid 17.5%, price −4.1%, total +14.8%, SPY +14.8%, 0.0 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.5 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, with zero at the line. NLSI since launch: paid 5.0%, price +12.0%, total +17.7%, SPY +12.7%, +5.0 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
IVVW costs 2.64 points a year less; IVVW is far larger, $353m against $5.3m.
Points (pts) are percentage points.
| Measure | IVVW | NLSI |
|---|---|---|
| Paid and earned | ||
| Total return, 1 year | +14.8% | not published |
| Price change | fell 4.1% (1 year) | rose 12.0% (since Dec 10, 2025) |
| Return of capital, issuer estimate | 49% of the Oct 7, 2026 payment | 100% of the Oct 30, 2026 payment |
| Against its benchmark | ||
| Benchmark | S&P 500, measured through SPY | S&P 500, measured through SPY |
| Against its benchmark, same days | ahead by 5.0 pts | |
| Cost and size | ||
| Expense ratio | 0.25% | 2.89% |
| Net assets, as of Oct 28, 2026 | $353m | $5.3m |
| Holdings | ||
| Holdings in common | 0% | |
What they share
By the books each fund has filed, IVVW and NLSI hold 0% of their money in the same securities at the same weight. Holdings dated 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 | IVVW | NLSI | IVVW | NLSI | IVVW | NLSI |
| 3 months | +2.0% | +6.7% | 3.9% | 1.4% | +2.2 pts | +6.9 pts |
| 6 months | +8.0% | +21.4% | 7.8% | 3.0% | +3.0 pts | +16.4 pts |
| 1 year | +14.8% | – | 17.5% | – | 0.0 pts | – |
| Since launchNot the same days: IVVW Mar 2024 · NLSI Dec 2025 | +40.5% | +17.7% | 42.6% | 5.0% | −14.4 pts | +4.9 pts |
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IVVW
Over the year to Nov 4, 2026, IVVW paid 17.5% of its starting value in cash distributions while its price fell 4.1%. With every distribution reinvested, the fund returned +14.8%. S&P 500 (SPY) returned +14.8% over the same days, so a holder was about even. At its price on Nov 4, 2026 the latest distribution annualizes to 15.7%, paid monthly. iShares estimates that 49% of the distribution paid Oct 7, 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
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.
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ETFIQ, IVVW against NLSI, data as of Nov 4, 2026. https://etfiq.com/compare/income/ivvw-vs-nlsi
ETFIQ. (Nov 4, 2026). IVVW against NLSI. Retrieved from https://etfiq.com/compare/income/ivvw-vs-nlsi
[IVVW against NLSI (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/income/ivvw-vs-nlsi)
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