Which is cheaper, NLSI or QXQ?

NLSI charges 2.89% a year and QXQ charges 0.98%, so QXQ is cheaper. Fees come from each fund's prospectus.

Data as of Nov 12, 2026.

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NLSI vs QXQ: Dividend Yield & Total Return

Return, fees and overlap, side by side.

Return gap

+23.1 pts

6 months to Nov 12, 2026: NLSI ahead, total return

Fee gap

1.91 pts

A year: NLSI 2.89%, QXQ 0.98%, per filings dated Jan 5, 2026 and Apr 30, 2026

Overlap

–

No book read for both funds

Net flow

–

Needs daily flows for both funds

Pair scorecard

QXQ costs 1.91 points a year less.

Points (pts) are percentage points.

NLSI vs QXQ: Dividend Yield & Total Return
Measure	NLSI	QXQ
Paid and earned
Measure	NLSI	QXQ
Total return, 1 year	not published	+12.1%
Price change	rose 13.5% (since Dec 10, 2025)	fell 4.7% (1 year)
Return of capital, issuer estimate	100% of the Oct 30, 2026 payment
Against its benchmark
Measure	NLSI	QXQ
Benchmark	S&P 500, measured through SPY	Nasdaq-100, measured through QQQ
Cost and size
Measure	NLSI	QXQ
Expense ratio	2.89%	0.98%
Net assets, NLSI as of Nov 11, 2026 and QXQ as of Aug 31, 2026	$5.2m	$82m
Holdings
Measure	NLSI	QXQ
Holdings in common	not published

Method

Key numbers

5.0%

NLSI cash paid, since launch, Dec 10, 2025

15.1%

QXQ cash paid, 1 year

+19.2%

NLSI total return, since launch, Dec 10, 2025

+12.1%

QXQ total return, 1 year

NLSI · since launch to Nov 12, 2026 7.9 pts ahead of SPY

NLSI

+19.2%

SPY

+11.3%

7.9 pts ahead of SPY

NLSI since launch: paid 5.0%, price +13.5%, total +19.2%, SPY +11.3%, +7.9 pts. Data to Nov 12, 2026.

SPY

+11.3%

NLSI

+19.2%

5.0% as cash

7.9 pts ahead of SPY

Total return, distributions reinvested

7.9 pts ahead of SPY

NLSI since launch: paid 5.0%, price +13.5%, total +19.2%, SPY +11.3%, +7.9 pts. Data to Nov 12, 2026.

SPY

+11.3%

NLSI

+19.2%

7.9 pts ahead of SPY

5.0% of it arrived as cash. Total return, distributions reinvested. NLSI since launch: paid 5.0%, price +13.5%, total +19.2%, SPY +11.3%, +7.9 pts. Data to Nov 12, 2026.

Data to Nov 12, 2026.

QXQ · 1 year to Nov 12, 2026 0.8 pts ahead of QQQ

QXQ

+12.1%

QQQ

+11.3%

0.8 pts ahead of QQQ

QXQ over 1 year: paid 15.1%, price −4.7%, total +12.1%, QQQ +11.3%, +0.8 pts. Data to Nov 12, 2026.

QQQ

+11.3%

QXQ

+12.1%

15.1% of it arrived as cash

0.8 pts ahead of QQQ

Total return, distributions reinvested

0.8 pts ahead of QQQ

QXQ over 1 year: paid 15.1%, price −4.7%, total +12.1%, QQQ +11.3%, +0.8 pts. Data to Nov 12, 2026.

QQQ

+11.3%

QXQ

+12.1%

15.1% cash

0.8 pts ahead of QQQ

15.1% of it arrived as cash. Both charts share one scale, with zero at the line. QXQ over 1 year: paid 15.1%, price −4.7%, total +12.1%, QQQ +11.3%, +0.8 pts. Data to Nov 12, 2026.

Data to Nov 12, 2026.

Side by side

NLSI NEOS Long/Short Equity Income ETF · Option income on SPY, paying monthly QXQ SGI Enhanced Nasdaq-100 ETF · Covered call on QQQ, paying quarterly

Issuer NEOS SGI

Strategy option income covered call

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

Pays monthly quarterly

Payout rate, annualized 5.5% 1.0%

Expense ratio 2.89% 0.98%

Cash paid, 1 year 5.0% (since launch, Dec 10, 2025) 15.1%

Price change, 1 year +13.5% (since launch, Dec 10, 2025) −4.7%

Total return, 1 year +19.2% (since launch, Dec 10, 2025) +12.1%

Benchmark return, 1 year +11.3% (since launch, Dec 10, 2025) +11.3%

Ahead or behind +7.9 pts (since launch, Dec 10, 2025) +0.8 pts

Return of capital, latest estimate 100% not published

Age 337 days 2.4 years

Net assets, NLSI as of Nov 11, 2026 and QXQ as of Aug 31, 2026 $5.2m $82m

As of Nov 12, 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 QXQ: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	NLSI	QXQ	NLSI	QXQ	NLSI	QXQ
3 months	+2.0%	−5.4%	1.3%	0.2%	+4.5 pts	+0.5 pts
6 months	+19.3%	−3.8%	2.9%	0.5%	+17.6 pts	+0.4 pts
1 year	–	+12.1%	–	15.1%	–	+0.8 pts
Since launchNot the same days: NLSI Dec 2025 · QXQ Jun 2024	+19.2%	+47.7%	5.0%	22.8%	+7.9 pts	+2.2 pts

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Alert

About each fund

NLSI

Over the period from its first trade on Dec 10, 2025 to Nov 12, 2026, NLSI paid 5.0% of its starting value in cash distributions while its price rose 13.5%. With every distribution reinvested, the fund returned +19.2%. S&P 500 (SPY) returned +11.3% over the same days, so a holder was ahead by 7.9 pts. At its price on Nov 12, 2026 the latest distribution annualizes to 5.5%, 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.

QXQ

Over the year to Nov 12, 2026, QXQ paid 15.1% of its starting value in cash distributions while its price fell 4.7%. With every distribution reinvested, the fund returned +12.1%. Nasdaq-100 (QQQ) returned +11.3% over the same days, so a holder was ahead by 0.8 pts. At its price on Nov 12, 2026 the latest distribution annualizes to 1.0%, paid quarterly.

Questions people ask

Which is cheaper, NLSI or QXQ?: NLSI charges 2.89% a year and QXQ charges 0.98%, so QXQ is cheaper. Fees come from each fund's prospectus.

Other comparisons

NLSI vs QRMI NLSI vs QLDY NLSI vs BALQ NLSI vs QQQY QXQ vs ACKY QXQ vs TPRY QXQ vs OCTJ QXQ vs OCTH

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 →QXQ on its own →NLSI dividend history →NLSI holdings →QXQ dividend history →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 ↗

QXQ filings on SEC EDGAR ↗

QXQ prospectus with the expense ratio (SEC) ↗

SGI website ↗

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

How this is computed

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, NLSI against QXQ, data as of Nov 12, 2026. https://etfiq.com/compare/income/nlsi-vs-qxq

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NLSI and QXQ both write options for income.

NLSI on its own →QXQ on its own →

Growth of 100

NLSI and QXQ

Total return, distributions reinvested, 6 months.

NLSI +19.3%QXQ −3.8%

May 14, 2026Nov 12, 2026

NLSI +19.3%, QXQ −3.8%: NLSI +23.1 pts ahead, 6 months, May 14, 2026 to Nov 12, 2026.