Which is cheaper, NLSI or QRMI?

NLSI charges 2.89% a year and QRMI charges 0.60%, so QRMI is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

NLSI vs QRMI: Dividend Yield & Total Return

NLSI and QRMI both write options for income.

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Net assets: $5.3m on Oct 28, 2026 for NEOS Long/Short Equity Income ETF, and $15m on Oct 12, 2026 for Global X NASDAQ 100 Risk Managed Income ETF.

NLSI on its own →QRMI on its own →

At a glance

5.0%

NLSI cash paid, since launch, Dec 10, 2025

11.6%

QRMI cash paid, 1 year

+17.7%

NLSI total return, since launch, Dec 10, 2025

+3.7%

QRMI 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.

QRMI · 1 year to Nov 4, 2026 8.6 pts behind QQQ

QRMI

+3.7%

QQQ

+12.3%

8.6 pts behind QQQ

QRMI over 1 year: paid 11.6%, price −8.1%, total +3.7%, QQQ +12.3%, −8.6 pts. Data to Nov 4, 2026.

QQQ

+12.3%

QRMI

+3.7%

11.6% as cash

8.6 pts behind QQQ

Total return, distributions reinvested

8.6 pts behind QQQ

QRMI over 1 year: paid 11.6%, price −8.1%, total +3.7%, QQQ +12.3%, −8.6 pts. Data to Nov 4, 2026.

QQQ

+12.3%

QRMI

+3.7%

8.6 pts behind QQQ

11.6% of it arrived as cash. Both charts share one scale, with zero at the line. QRMI over 1 year: paid 11.6%, price −8.1%, total +3.7%, QQQ +12.3%, −8.6 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

QRMI costs 2.29 points a year less; QRMI is 3.2 times larger.

Points (pts) are percentage points.

NLSI vs QRMI: Dividend Yield & Total Return
Measure	NLSI	QRMI
Paid and earned
Measure	NLSI	QRMI
Total return, 1 year	not published	+3.7%
Price change	rose 12.0% (since Dec 10, 2025)	fell 8.1% (1 year)
Return of capital, issuer estimate	100% of the Oct 30, 2026 payment	100% of the Sep 24, 2026 payment
Against its benchmark
Measure	NLSI	QRMI
Benchmark	S&P 500, measured through SPY	Nasdaq-100, measured through QQQ
Against its benchmark, same days	ahead by 5.0 pts	behind by 8.6 pts
Cost and size
Measure	NLSI	QRMI
Expense ratio	2.89%	0.60%
Net assets, as of Oct 12, 2026	$4.7m	$15m
Holdings
Measure	NLSI	QRMI
Holdings in common	9%

Method

What they share

By the books each fund has filed, NLSI and QRMI hold 9% 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

9% in common

Positions both hold · largest shared weight first NLSI QRMI

Micron Technology Inc 12.00% 4.29%

Seagate Technology Holdings PLC 4.06% 0.88%

Western Digital Corp 2.46% 0.88%

T-Mobile US Inc 4.14% 0.87%

AppLovin Corp 2.75% 0.56%

Intuit Inc 4.45% 0.39%

NXP Semiconductors NV 3.23% 0.26%

Diamondback Energy Inc 4.22% 0.25%

PayPal Holdings Inc 4.29% 0.23%

Teradyne Inc -1.31% 0.26%

Applied Materials Inc -1.44% 1.86%

Alphabet Inc -1.47% 3.48%

Only in one fund ↓

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%

Only in QRMI

NVIDIA CORPORATION 8.14%

APPLE INC. 7.60%

MICROSOFT CORPORATION 5.78%

ADVANCED MICRO DEVICES, INC. 3.60%

ALPHABET INC. 3.26%

BROADCOM INC. 3.10%

TESLA, INC. 2.60%

INTEL CORPORATION 2.10%

Check overlap with more funds →

Side by side

NLSI NEOS Long/Short Equity Income ETF · Option income on SPY, paying monthly QRMI Global X NASDAQ 100 Risk Managed Income ETF · Option income on QQQ, paying monthly

Issuer NEOS Global X

Strategy option income option income

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

Pays monthly monthly

Payout rate, annualized 5.6% 12.2%

Expense ratio 2.89% 0.60%

Cash paid, 1 year 5.0% (since launch, Dec 10, 2025) 11.6%

Price change, 1 year +12.0% (since launch, Dec 10, 2025) −8.1%

Total return, 1 year +17.7% (since launch, Dec 10, 2025) +3.7%

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

Ahead or behind +5.0 pts (since launch, Dec 10, 2025) −8.6 pts

Return of capital, latest estimate 100% 100%

Age 329 days 5.2 years

Net assets, NLSI as of Oct 28, 2026 and QRMI as of Oct 12, 2026 $5.3m $15m

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 QRMI: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	NLSI	QRMI	NLSI	QRMI	NLSI	QRMI
3 months	+6.7%	−0.1%	1.4%	3.0%	+6.9 pts	+3.4 pts
6 months	+21.4%	+1.0%	3.0%	5.9%	+16.4 pts	+1.3 pts
1 year	–	+3.7%	–	11.6%	–	−8.6 pts
3 years	–	+25.7%	–	35.0%	–	−65.7 pts
Since launchNot the same days: NLSI Dec 2025 · QRMI Aug 2021	+17.7%	+8.5%	5.0%	42.0%	+4.9 pts	−83.2 pts

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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.

QRMI

Over the year to Nov 4, 2026, QRMI paid 11.6% of its starting value in cash distributions while its price fell 8.1%. With every distribution reinvested, the fund returned +3.7%. Nasdaq-100 (QQQ) returned +12.3% over the same days, so a holder was behind by 8.6 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 12.2%, paid monthly. Global X estimates that 100% of the distribution paid Sep 24, 2026 was a return of capital (its 19a-1 notice).

Questions people ask

Which is cheaper, NLSI or QRMI?: NLSI charges 2.89% a year and QRMI charges 0.60%, so QRMI is cheaper. Fees come from each fund's prospectus.

Other comparisons

NLSI vs QQQY NLSI vs QDTY NLSI vs ACQQ NLSI vs BALQ QRMI vs TPRY QRMI vs APRH QRMI vs APRJ QRMI 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 →QRMI on its own →NLSI dividend history →NLSI holdings →QRMI dividend history →QRMI 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 ↗

QRMI filings on SEC EDGAR ↗

QRMI prospectus with the expense ratio (SEC) ↗

QRMI 19a-1 distribution notice ↗

Global X page for QRMI ↗

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 QRMI, data as of Nov 4, 2026. https://etfiq.com/compare/income/nlsi-vs-qrmi

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