Which is cheaper, NLSI or QLDY?

NLSI charges 2.89% a year and QLDY charges 1.04%, so QLDY is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

NLSI vs QLDY: Dividend Yield & Total Return

NLSI and QLDY both write options for income.

askIQ about this page

Net assets: $5.3m on Oct 28, 2026 for NEOS Long/Short Equity Income ETF, and $53m on Nov 3, 2026 for Defiance Nasdaq 100 LightningSpread Income ETF.

NLSI on its own →QLDY on its own →

At a glance

5.0%

NLSI cash paid, since launch, Dec 10, 2025

35.3%

QLDY cash paid, 1 year

+17.7%

NLSI total return, since launch, Dec 10, 2025

+9.1%

QLDY total return, 1 year

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. Total return, distributions reinvested. 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.

QLDY · 1 year to Nov 4, 2026 3.2 pts behind QQQ

QLDY

+9.1%

QQQ

+12.3%

3.2 pts behind QQQ

QLDY over 1 year: paid 35.3%, price −27.2%, total +9.1%, QQQ +12.3%, −3.2 pts. Data to Nov 4, 2026.

QQQ

+12.3%

QLDY

+9.1%

35.3% of it arrived as cash

3.2 pts behind QQQ

Total return, distributions reinvested

3.2 pts behind QQQ

QLDY over 1 year: paid 35.3%, price −27.2%, total +9.1%, QQQ +12.3%, −3.2 pts. Data to Nov 4, 2026.

QQQ

+12.3%

QLDY

+9.1%

3.2 pts behind QQQ

35.3% of it arrived as cash. Both charts share one scale, with zero at the line. QLDY over 1 year: paid 35.3%, price −27.2%, total +9.1%, QQQ +12.3%, −3.2 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

QLDY costs 1.85 points a year less; QLDY is 10.6 times larger.

Points (pts) are percentage points.

NLSI vs QLDY: Dividend Yield & Total Return
Measure	NLSI	QLDY
Paid and earned
Measure	NLSI	QLDY
Total return, 1 year	not published	+9.1%
Price change	rose 12.0% (since Dec 10, 2025)	fell 27.2% (1 year)
Return of capital, issuer estimate	100% of the Oct 30, 2026 payment	0% of the Nov 2, 2026 payment
Against its benchmark
Measure	NLSI	QLDY
Benchmark	S&P 500, measured through SPY	Nasdaq-100, measured through QQQ
Against its benchmark, same days	ahead by 5.0 pts	behind by 3.2 pts
Cost and size
Measure	NLSI	QLDY
Expense ratio	2.89%	1.04%
Net assets, as of Oct 28, 2026	$5.3m	$56m
Holdings
Measure	NLSI	QLDY
Holdings in common	0%

Method

What they share

By the books each fund has filed, NLSI and QLDY hold 0% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026 and Nov 4, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first NLSI QLDY

Only in one fund ↓

Only in NLSI

Micron Technology Inc 12.00%

Marathon Petroleum Corp 5.94%

Valero Energy Corp 5.14%

Chevron Corp 4.51%

Intuit Inc 4.45%

Walt Disney Co 4.42%

Phillips 66 4.39%

Comfort Systems USA Inc 4.30%

Only in QLDY

Ndx 12/18/2026 2001.44 C 92.84%

United States Treasury Note/bond 2.375% 05/15/2027 0.49%

Exchange Put Opt 11/26 28320 0.15%

Xnd 12/18/2026 10.44 C 0.05%

Nasdaq-1 Put Opt 11/26 28470 -0.24%

Check overlap with more funds →

Side by side

NLSI NEOS Long/Short Equity Income ETF · Option income on SPY, paying monthly QLDY Defiance Nasdaq 100 LightningSpread Income ETF · Option income on QQQ, paying weekly

Issuer NEOS Defiance

Strategy option income option income

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

Pays monthly weekly

Payout rate, annualized 5.6% 19.7%

Expense ratio 2.89% 1.04%

Cash paid, 1 year 5.0% (since launch, Dec 10, 2025) 35.3%

Price change, 1 year +12.0% (since launch, Dec 10, 2025) −27.2%

Total return, 1 year +17.7% (since launch, Dec 10, 2025) +9.1%

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

Ahead or behind +5.0 pts (since launch, Dec 10, 2025) −3.2 pts

Return of capital, latest estimate 100% 0%

Age 329 days 1.1 years

Net assets, NLSI as of Oct 28, 2026 and QLDY as of Nov 3, 2026 $5.3m $53m

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: NLSI vs QLDY: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	NLSI	QLDY	NLSI	QLDY	NLSI	QLDY
3 months	+6.7%	−4.5%	1.4%	9.5%	+6.9 pts	−1.1 pts
6 months	+21.4%	−3.1%	3.0%	18.5%	+16.4 pts	−2.8 pts
1 year	–	+9.1%	–	35.3%	–	−3.2 pts
Since launchNot the same days: NLSI Dec 2025 · QLDY Sep 2025	+17.7%	+13.2%	5.0%	39.1%	+4.9 pts	−3.7 pts

– means no data for this window. Open this comparison in the app →

Alert

About each fund

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.

QLDY

Over the year to Nov 4, 2026, QLDY paid 35.3% of its starting value in cash distributions while its price fell 27.2%. With every distribution reinvested, the fund returned +9.1%. Nasdaq-100 (QQQ) returned +12.3% over the same days, so a holder was behind by 3.2 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 19.7%, paid weekly. Defiance estimates that 0% of the distribution paid Nov 2, 2026 was a return of capital (its 19a-1 notice).

Questions people ask

Which is cheaper, NLSI or QLDY?: NLSI charges 2.89% a year and QLDY charges 1.04%, so QLDY is cheaper. Fees come from each fund's prospectus.

Other comparisons

NLSI vs QDTY NLSI vs CAIQ NLSI vs XQQI NLSI vs ROCQ QLDY vs TPRY QLDY vs APRH QLDY vs APRJ QLDY vs BIGY

Where to next

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

Sources and dates

NLSI filings on SEC EDGAR ↗

NLSI prospectus with the expense ratio (SEC) ↗

NLSI 19a-1 distribution notice ↗

NEOS page for NLSI ↗

QLDY filings on SEC EDGAR ↗

QLDY prospectus with the expense ratio (SEC) ↗

QLDY 19a-1 distribution notice ↗

Defiance page for QLDY ↗

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

Open data →

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