Which is cheaper, NLSI or XVSP?

NLSI charges 2.89% a year and XVSP charges 0.85%, so XVSP is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

NLSI vs XVSP: Dividend Yield & Total Return

NLSI and XVSP 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 $4.5m on Nov 3, 2026 for FT Vest SPCX & Target Income ETF.

NLSI on its own →XVSP on its own →

At a glance

5.0%

NLSI cash paid, since launch, Dec 10, 2025

2.7%

XVSP cash paid, since launch, Aug 26, 2026

+17.7%

NLSI total return, since launch, Dec 10, 2025

−2.2%

XVSP total return, since launch, Aug 26, 2026

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.

XVSP · since launch to Nov 4, 2026 About even with SPCX

XVSP

−2.2%

SPCX

−2.7%

About even with SPCX

XVSP since launch: paid 2.7%, price −4.6%, total −2.2%, SPCX −2.7%, +0.5 pts. Data to Nov 4, 2026.

SPCX

−2.7%

XVSP

−2.2%

about even with SPCX

Total return, distributions reinvested

About even with SPCX

XVSP since launch: paid 2.7%, price −4.6%, total −2.2%, SPCX −2.7%, +0.5 pts. Data to Nov 4, 2026.

SPCX

−2.7%

XVSP

−2.2%

about even with SPCX

2.7% of it arrived as cash. Both charts share one scale, with zero at the line. XVSP since launch: paid 2.7%, price −4.6%, total −2.2%, SPCX −2.7%, +0.5 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

XVSP costs 2.04 points a year less; NLSI is 1.4 times larger.

Points (pts) are percentage points.

NLSI vs XVSP: Dividend Yield & Total Return
Measure	NLSI	XVSP
Paid and earned
Measure	NLSI	XVSP
Price change	rose 12.0% (since Dec 10, 2025)	fell 4.6% (since Aug 26, 2026)
Return of capital, issuer estimate	100% of the Oct 30, 2026 payment	100% of the Oct 30, 2026 payment
Against its benchmark
Measure	NLSI	XVSP
Benchmark	S&P 500, measured through SPY	Space Exploration Technologies (SPCX)
Against its benchmark, same days	ahead by 5.0 pts
Cost and size
Measure	NLSI	XVSP
Expense ratio	2.89%	0.85%
Net assets, as of Oct 28, 2026	$5.3m	$3.8m
Holdings
Measure	NLSI	XVSP
Holdings in common	0%

Method

What they share

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

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first NLSI XVSP

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 XVSP

2027-01-21 S&P 500® Mini Index P 1,500.03 342.87%

2027-01-21 S&P 500® Mini Index C 500.03 122.35%

Space Exploration Technologies Corp. (Class A) 50.05%

2027-01-21 S&P 500® Mini Index C 1,500.03 0.00%

2027-01-22 Space Exploration Technologies Corp. (Class A) C 1,327.41 0.00%

2027-01-21 S&P 500® Mini Index P 500.03 -0.49%

2026-11-06 Space Exploration Technologies Corp. (Class A) C 135 -0.52%

2027-01-22 Space Exploration Technologies Corp. (Class A) P 1,327.41 -416.73%

Check overlap with more funds →

Side by side

NLSI NEOS Long/Short Equity Income ETF · Option income on SPY, paying monthly XVSP FT Vest SPCX & Target Income ETF · Option income on SPCX

Issuer NEOS First Trust

Strategy option income option income

Benchmark S&P 500 (SPY) Space Exploration Technologies (SPCX)

Pays monthly not established

Payout rate, annualized 5.6% 16.6%

Expense ratio 2.89% 0.85%

Cash paid, 1 year 5.0% (since launch, Dec 10, 2025) 2.7% (since launch, Aug 26, 2026)

Price change, 1 year +12.0% (since launch, Dec 10, 2025) −4.6% (since launch, Aug 26, 2026)

Total return, 1 year +17.7% (since launch, Dec 10, 2025) −2.2% (since launch, Aug 26, 2026)

Benchmark return, 1 year +12.7% (since launch, Dec 10, 2025) −2.7% (since launch, Aug 26, 2026)

Ahead or behind +5.0 pts (since launch, Dec 10, 2025) +0.5 pts (since launch, Aug 26, 2026)

Return of capital, latest estimate 100% 100%

Age 329 days 70 days

Net assets, NLSI as of Oct 28, 2026 and XVSP as of Nov 3, 2026 $5.3m $4.5m

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 XVSP: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	NLSI	XVSP	NLSI	XVSP	NLSI	XVSP
3 months	+6.7%	–	1.4%	–	+6.9 pts	–
6 months	+21.4%	–	3.0%	–	+16.4 pts	–
Since launchNot the same days: NLSI Dec 2025 · XVSP Aug 2026	+17.7%	−2.2%	5.0%	2.7%	+4.9 pts	+0.4 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.

XVSP

Over the period from its first trade on Aug 26, 2026 to Nov 4, 2026, XVSP paid 2.7% of its starting value in cash distributions while its price fell 4.6%. With every distribution reinvested, the fund returned −2.2%. Space Exploration Technologies (SPCX) returned −2.7% over the same days, so a holder was about even. At its price on Nov 4, 2026 the latest distribution annualizes to 16.6%, paid periodically. First Trust estimates that 100% of the distribution paid Oct 30, 2026 was a return of capital (its 19a-1 notice).

Questions people ask

Which is cheaper, NLSI or XVSP?: NLSI charges 2.89% a year and XVSP charges 0.85%, so XVSP is cheaper. Fees come from each fund's prospectus.

Other comparisons

NLSI vs YSPC NLSI vs XSHP NLSI vs YLDE NLSI vs PAPI XVSP vs TPRY XVSP vs SPUT XVSP vs SCLZ XVSP vs QUSA

Where to next

S&P 500 (SPY) →All income ETFs ranked by the Distribution Coverage Score →How the scores are computed →NLSI on its own →XVSP on its own →NLSI dividend history →NLSI holdings →XVSP dividend history →XVSP 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 ↗

XVSP filings on SEC EDGAR ↗

XVSP prospectus with the expense ratio (SEC) ↗

XVSP 19a-1 distribution notice ↗

First Trust page for XVSP ↗

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

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