Which is cheaper, NLSI or RDVI?

NLSI charges 2.89% a year and RDVI charges 0.75%, so RDVI is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

NLSI vs RDVI: Dividend Yield & Total Return

NLSI and RDVI 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 $3.9bn on Nov 3, 2026 for FT Vest Rising Dividend Achievers Target Income ETF.

NLSI on its own →RDVI on its own →

At a glance

5.0%

NLSI cash paid, since launch, Dec 10, 2025

9.1%

RDVI cash paid, 1 year

+17.7%

NLSI total return, since launch, Dec 10, 2025

+22.0%

RDVI 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.

RDVI · 1 year to Nov 4, 2026 About even with RDVY

RDVI

+22.0%

RDVY

+22.2%

About even with RDVY

RDVI over 1 year: paid 9.1%, price +12.2%, total +22.0%, RDVY +22.2%, −0.2 pts. Data to Nov 4, 2026.

RDVY

+22.2%

RDVI

+22.0%

9.1% of it arrived as cash

about even with RDVY

Total return, distributions reinvested

About even with RDVY

RDVI over 1 year: paid 9.1%, price +12.2%, total +22.0%, RDVY +22.2%, −0.2 pts. Data to Nov 4, 2026.

RDVY

+22.2%

RDVI

+22.0%

about even with RDVY

9.1% of it arrived as cash. Both charts share one scale, 0 to +22.2%. RDVI over 1 year: paid 9.1%, price +12.2%, total +22.0%, RDVY +22.2%, −0.2 pts. Data to Nov 4, 2026.

Both charts share one scale, 0 to +22.2%. Data to Nov 4, 2026.

Pair scorecard

RDVI costs 2.14 points a year less; RDVI is far larger, $3.8bn against $5.3m.

Points (pts) are percentage points.

NLSI vs RDVI: Dividend Yield & Total Return
Measure	NLSI	RDVI
Paid and earned
Measure	NLSI	RDVI
Total return, 1 year	not published	+22.0%
Price change	rose 12.0% (since Dec 10, 2025)	rose 12.2% (1 year)
Return of capital, issuer estimate	100% of the Oct 30, 2026 payment	40% of the Oct 30, 2026 payment
Against its benchmark
Measure	NLSI	RDVI
Benchmark	S&P 500, measured through SPY	First Trust Rising Dividend Achievers ETF, measured through RDVY
Against its benchmark, same days	ahead by 5.0 pts
Cost and size
Measure	NLSI	RDVI
Expense ratio	2.89%	0.75%
Net assets, as of Oct 28, 2026	$5.3m	$3.8bn
Holdings
Measure	NLSI	RDVI
Holdings in common	8%

Method

What they share

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

50%

0 half 100%

half

8% in common

Positions both hold · largest shared weight first NLSI RDVI

Allstate Corp 4.04% 2.23%

Micron Technology Inc 12.00% 1.83%

PayPal Holdings Inc 4.29% 1.78%

Western Digital Corp 2.46% 0.72%

Intuit Inc 4.45% 0.49%

Progressive Corp 4.11% 0.44%

Comfort Systems USA Inc 4.30% 0.43%

Applied Materials Inc -1.44% 1.97%

Alphabet Inc -1.47% 1.57%

Charles Schwab Corp -1.49% 1.35%

Cisco Systems Inc -1.68% 0.48%

Aflac Inc -1.89% 1.59%

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%

American International Group Inc 4.28%

KKR & Co Inc 4.25%

Diamondback Energy Inc 4.22%

Only in RDVI

The Travelers Companies, Inc. 2.39%

Accenture plc 2.35%

Visa Inc. (Class A) 2.35%

Veralto Corporation 2.34%

Automatic Data Processing, Inc. 2.32%

Expedia Group, Inc. 2.17%

Chubb Limited 2.16%

Microsoft Corporation 2.16%

Check overlap with more funds →

Side by side

NLSI NEOS Long/Short Equity Income ETF · Option income on SPY, paying monthly RDVI FT Vest Rising Dividend Achievers Target Income ETF · Writes calls on the S&P 500, measured against the Nasdaq US Rising Dividend Achievers Index, paying monthly

Issuer NEOS First Trust

Strategy option income dividend stocks with call overlay

Benchmark S&P 500 (SPY) First Trust Rising Dividend Achievers ETF (RDVY)

Pays monthly monthly

Payout rate, annualized 5.6% 8.3%

Expense ratio 2.89% 0.75%

Cash paid, 1 year 5.0% (since launch, Dec 10, 2025) 9.1%

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

Total return, 1 year +17.7% (since launch, Dec 10, 2025) +22.0%

Benchmark return, 1 year +12.7% (since launch, Dec 10, 2025) +22.2%

Ahead or behind +5.0 pts (since launch, Dec 10, 2025) −0.2 pts

Return of capital, latest estimate 100% 40%

Age 329 days 4.0 years

Net assets, NLSI as of Oct 28, 2026 and RDVI as of Nov 3, 2026 $5.3m $3.9bn

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 RDVI: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	NLSI	RDVI	NLSI	RDVI	NLSI	RDVI
3 months	+6.7%	−1.9%	1.4%	2.0%	+6.9 pts	+0.6 pts
6 months	+21.4%	+7.9%	3.0%	4.3%	+16.4 pts	+0.1 pts
1 year	–	+22.0%	–	9.1%	–	−0.2 pts
3 years	–	+76.0%	–	30.9%	–	−6.4 pts
Since launchNot the same days: NLSI Dec 2025 · RDVI Oct 2022	+17.7%	+106.5%	5.0%	43.0%	+4.9 pts	−8.4 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.

RDVI

Over the year to Nov 4, 2026, RDVI paid 9.1% of its starting value in cash distributions while its price rose 12.2%. With every distribution reinvested, the fund returned +22.0%. First Trust Rising Dividend Achievers ETF (RDVY) returned +22.2% over the same days, so a holder was about even. At its price on Nov 4, 2026 the latest distribution annualizes to 8.3%, paid monthly. First Trust estimates that 40% of the distribution paid Oct 30, 2026 was a return of capital (its 19a-1 notice).

Questions people ask

Which is cheaper, NLSI or RDVI?: NLSI charges 2.89% a year and RDVI charges 0.75%, so RDVI is cheaper. Fees come from each fund's prospectus.

Other comparisons

NLSI vs SDVD NLSI vs FEPI NLSI vs PAPI NLSI vs YLDE RDVI vs ACKY RDVI vs ACSP RDVI vs BALI RDVI vs TPRY

Where to next

S&P 500 (SPY) →First Trust Rising Dividend Achievers ETF (RDVY) →All income ETFs ranked by the Distribution Coverage Score →How the scores are computed →NLSI on its own →RDVI on its own →NLSI dividend history →NLSI holdings →RDVI dividend history →RDVI 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 ↗

RDVI filings on SEC EDGAR ↗

RDVI prospectus with the expense ratio (SEC) ↗

RDVI 19a-1 distribution notice ↗

First Trust page for RDVI ↗

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

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