Data as of .
NLSI vs SCEP: which paid, and which earned it?
NLSI and SCEP both write options for income.
What they hold in common
By the books each fund has filed, NLSI and SCEP hold 5% of their money in the same securities at the same weight.
| Holding | NLSI | SCEP |
|---|---|---|
| NVIDIA Corp | 3.17% | 5.70% |
| Mastercard Inc | 2.86% | 0.78% |
| ServiceNow Inc | 1.99% | 0.65% |
| Only in NLSI | Only in SCEP |
|---|---|
| Micron Technology Inc 14.23% | ALPHABET INC 5.98% |
| F5 Inc 3.90% | APPLE INC 5.71% |
| Progressive Corp/The 3.80% | BROADCOM INC 5.61% |
| Adobe Inc 3.37% | AMAZON.COM INC 4.68% |
| Jack Henry & Associates Inc 3.32% | JP MORGAN CHASE & COMPANY 3.55% |
| Universal Health Services Inc 3.23% | MICROSOFT CORP 3.49% |
| Insulet Corp 3.19% | LAM RESEARCH CORP 2.64% |
| Veeva Systems Inc 3.19% | PARKER-HANNIFIN CORP 2.63% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated Jun 30, 2026.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| NLSI | SCEP | NLSI | SCEP | NLSI | SCEP | |
| 3 months | +15.6% | −0.1% | 1.4% | 1.7% | +13.3 pts | −2.4 pts |
| 6 months | +24.6% | +8.3% | 2.8% | 3.7% | +6.6 pts | −9.7 pts |
| Since launch | +19.3% | +3.5% | 4.0% | 5.0% | +7.3 pts | −8.2 pts |
| NLSI NEOS Long/Short Equity Income ETF Option income on SPY, paying monthly | SCEP STERLING CAPITAL HEDGED EQUITY PREMIUM INCOME ETF Covered call on SPY, paying monthly | |
|---|---|---|
| Issuer | NEOS | Sterling Capital |
| Strategy | option income | covered call |
| Benchmark | S&P 500 (SPY), used as a default proxy | S&P 500 (SPY) |
| Pays | monthly | monthly |
| Payout rate, annualized | 5.1% | 7.1% |
| Expense ratio | 2.89% | 0.65% |
| Cash paid, 1 year | 4.0% (since launch on Dec 10, 2025) | 5.0% (since launch on Dec 11, 2025) |
| Price change, 1 year | +14.6% | −1.6% |
| Total return, 1 year | +19.3% (since launch on Dec 10, 2025) | +3.5% (since launch on Dec 11, 2025) |
| Benchmark return, 1 year | +12.0% | +11.7% |
| Ahead or behind | +7.3 pts | −8.2 pts |
| Return of capital, latest estimate | 100% | not published |
| Age | 282 days | 281 days |
| Net assets | $5m | $235m |
NLSI in plain words
Over the period since launch on Dec 10, 2025 to Sep 18, 2026, NLSI paid 4.0% of its starting value in cash distributions while its price rose 14.6%. With every distribution reinvested, the fund returned +19.3%. S&P 500 (SPY), used as a default proxy returned +12.0% over the same days, so a holder was ahead by 7.3 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 5.1%, paid monthly. NEOS estimates that 100% of the distribution paid Jul 31, 2026 was a return of capital (19a-1 notice, estimated, a tax characterization rather than a measure of erosion).
SCEP in plain words
Over the period since launch on Dec 11, 2025 to Sep 18, 2026, SCEP paid 5.0% of its starting value in cash distributions while its price fell 1.6%. With every distribution reinvested, the fund returned +3.5%. S&P 500 (SPY) returned +11.7% over the same days, so a holder was behind by 8.2 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 7.1%, paid monthly.
Questions people ask
- Which is cheaper, NLSI or SCEP?
- NLSI charges 2.89% a year and SCEP charges 0.65%, so SCEP is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, NLSI against SCEP, data as of Sep 18, 2026. https://etfiq.com/compare/income/nlsi-vs-scep Free to use with attribution; the underlying files are at Open data.