Which is cheaper, JUDO or NLSI?

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

Data as of Nov 4, 2026.

Income ETFs

JUDO vs NLSI: Dividend Yield & Total Return

JUDO and NLSI both write options for income.

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Net assets: $7.0m on Jul 31, 2026 for Janus Henderson U.S. Equity Enhanced Income ETF, and $5.3m on Oct 28, 2026 for NEOS Long/Short Equity Income ETF.

JUDO on its own →NLSI on its own →

At a glance

3.8%

JUDO cash paid, since launch, Mar 25, 2026

5.0%

NLSI cash paid, since launch, Dec 10, 2025

+16.1%

JUDO total return, since launch, Mar 25, 2026

+17.7%

NLSI total return, since launch, Dec 10, 2025

JUDO · since launch to Nov 4, 2026 Not measured

JUDO

+16.1%

none

Not measured

JUDO since launch: paid 3.8%, price +12.2%, total +16.1%, not measured against a benchmark. Data to Nov 4, 2026.

JUDO

+16.1%

3.8% as cash

Total return, distributions reinvested

Not measured

JUDO since launch: paid 3.8%, price +12.2%, total +16.1%, not measured against a benchmark. Data to Nov 4, 2026.

JUDO

+16.1%

3.8% of it arrived as cash. Total return, distributions reinvested. JUDO since launch: paid 3.8%, price +12.2%, total +16.1%, not measured against a benchmark. 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

JUDO costs 2.34 points a year less.

Points (pts) are percentage points.

JUDO vs NLSI: Dividend Yield & Total Return
Measure	JUDO	NLSI
Paid and earned
Measure	JUDO	NLSI
Price change	rose 2.7% (6 months)	rose 12.0% (since Dec 10, 2025)
Return of capital, issuer estimate		100% of the Oct 30, 2026 payment
Against its benchmark
Measure	JUDO	NLSI
Benchmark	its own stocks	S&P 500, measured through SPY
Against its benchmark, same days	ahead by 0.6 pts	ahead by 5.0 pts
Cost and size
Measure	JUDO	NLSI
Expense ratio	0.55%	2.89%
Net assets, JUDO as of Jul 31, 2026 and NLSI as of Oct 28, 2026	$7.0m	$5.3m
Holdings
Measure	JUDO	NLSI
Holdings in common	8%

Method

What they share

By the books each fund has filed, JUDO and NLSI hold 8% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Nov 3, 2026.

50%

0 half 100%

half

8% in common

Positions both hold · largest shared weight first JUDO NLSI

Micron Technology, Inc. 1.99% 12.00%

Goldman Sachs Group, Inc. (The) 1.49% 3.27%

Chevron Corp. 1.37% 4.51%

Walt Disney Co. (The) 1.27% 4.42%

Seagate Technology Holdings plc 1.24% 4.06%

Progressive Corp. (The) 0.86% 4.11%

Applied Materials, Inc. 1.56% -1.44%

Alphabet, Inc. 6.79% -1.47%

Cisco Systems, Inc. 1.39% -1.68%

Amazon.com, Inc. 5.17% -1.76%

Union Pacific Corp. 0.91% -1.93%

Meta Platforms, Inc. 0.79% -1.95%

Only in one fund ↓

Only in JUDO

NVIDIA Corp. 7.84%

Microsoft Corp. 6.64%

Apple, Inc. 4.38%

Broadcom, Inc. 3.56%

JPMorgan Chase & Co. 2.31%

Eli Lilly & Co. 2.07%

Mastercard, Inc. 1.72%

Visa, Inc. 1.70%

Only in NLSI

Marathon Petroleum Corp 5.94%

Valero Energy Corp 5.14%

Intuit Inc 4.45%

Phillips 66 4.39%

Comfort Systems USA Inc 4.30%

PayPal Holdings Inc 4.29%

American International Group Inc 4.28%

KKR & Co Inc 4.25%

Check overlap with more funds →

Side by side

JUDO Janus Henderson U.S. Equity Enhanced Income ETF · Covered call on its own stocks, paying monthly NLSI NEOS Long/Short Equity Income ETF · Option income on SPY, paying monthly

Issuer Janus Henderson NEOS

Strategy covered call option income

Benchmark JUDO's own stocks, without the options (from its filed holdings, rebalanced at each filing; latest Jul 31, 2026) S&P 500 (SPY)

Pays monthly monthly

Payout rate, annualized 6.4% 5.6%

Expense ratio 0.55% 2.89%

Cash paid, 1 year 3.8% (since launch, Mar 25, 2026) 5.0% (since launch, Dec 10, 2025)

Price change, 1 year +12.2% (since launch, Mar 25, 2026) +12.0% (since launch, Dec 10, 2025)

Total return, 1 year +16.1% (since launch, Mar 25, 2026) +17.7% (since launch, Dec 10, 2025)

Benchmark return, 1 year not published +12.7% (since launch, Dec 10, 2025)

Ahead or behind not available +5.0 pts (since launch, Dec 10, 2025)

Return of capital, latest estimate not published 100%

Age 224 days 329 days

Net assets, JUDO as of Jul 31, 2026 and NLSI as of Oct 28, 2026 $7.0m $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: JUDO vs NLSI: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	JUDO	NLSI	JUDO	NLSI	JUDO	NLSI
3 months	−1.2%	+6.7%	1.6%	1.4%	+0.5 pts	+6.9 pts
6 months	+5.8%	+21.4%	3.1%	3.0%	+0.6 pts	+16.4 pts
Since launchNot the same days: JUDO Mar 2026 · NLSI Dec 2025	+16.1%	+17.7%	3.8%	5.0%	not measured	+4.9 pts

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Alert

About each fund

JUDO

JUDO's own stocks, without the options (from its filed holdings, rebalanced at each filing; latest Jul 31, 2026) returned +5.2% over the same days, so a holder was ahead by 0.6 pts.

Over the 6 months to Nov 4, 2026, JUDO paid 3.1% of its starting value in cash distributions while its price rose 2.7%. With every distribution reinvested, the fund returned +5.8%. At its price on Nov 4, 2026 the latest distribution annualizes to 6.4%, paid monthly.

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). That is a tax label, not a measure of erosion.

Questions people ask

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

Other comparisons

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Where to next

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

Sources and dates

JUDO filings on SEC EDGAR ↗

JUDO prospectus with the expense ratio (SEC) ↗

Janus Henderson website ↗

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

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