Data as of .
NLSI vs YQQQ: which paid, and which earned it?
NLSI and YQQQ both write options for income.
What they hold in common
By the books each fund has filed, NLSI and YQQQ hold 0% of their money in the same securities at the same weight.
| Only in NLSI | Only in YQQQ |
|---|---|
| Micron Technology Inc 14.23% | United States Treasury Note/Bond 2.375% 05/15/2027 28.76% |
| F5 Inc 3.90% | United States Treasury Bill 07/08/2027 28.59% |
| Progressive Corp/The 3.80% | United States Treasury Bill 02/18/2027 17.25% |
| Adobe Inc 3.37% | United States Treasury Bill 12/10/2026 13.01% |
| Jack Henry & Associates Inc 3.32% | United States Treasury Bill 10/15/2026 7.09% |
| Universal Health Services Inc 3.23% | First American Government Obligations Fund 12/01/2031 5.94% |
| Insulet Corp 3.19% | QQQ 10/16/2026 720.02 P 1.66% |
| Veeva Systems Inc 3.19% | QQQ US 09/25/26 P690 0.06% |
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 and Sep 21, 2026.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| NLSI | YQQQ | NLSI | YQQQ | NLSI | YQQQ | |
| 3 months | +15.6% | +5.8% | 1.4% | 6.5% | +13.3 pts | +8.3 pts |
| 6 months | +24.6% | −13.9% | 2.8% | 10.8% | +6.6 pts | −38.2 pts |
| 1 year | not published | −3.5% | not published | 23.1% | not published | −25.3 pts |
| Since launch | +19.3% | −17.6% | 4.0% | 37.0% | +7.3 pts | −71.2 pts |
| NLSI NEOS Long/Short Equity Income ETF Option income on SPY, paying monthly | YQQQ YieldMax(R) Short N100 Option Income Strategy ETF Synthetic covered call on QQQ, paying weekly | |
|---|---|---|
| Issuer | NEOS | YieldMax |
| Strategy | option income | synthetic covered call |
| Benchmark | S&P 500 (SPY), used as a default proxy | Nasdaq-100 (QQQ) |
| Pays | monthly | weekly |
| Payout rate, annualized | 5.1% | 21.3% |
| Expense ratio | 2.89% | 1.11% |
| Cash paid, 1 year | 4.0% (since launch on Dec 10, 2025) | 23.1% |
| Price change, 1 year | +14.6% | −25.7% |
| Total return, 1 year | +19.3% (since launch on Dec 10, 2025) | −3.5% |
| Benchmark return, 1 year | +12.0% | +21.8% |
| Ahead or behind | +7.3 pts | −25.3 pts |
| Return of capital, latest estimate | 100% | 0% |
| Age | 282 days | 764 days |
| Net assets | $5m | $27m |
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).
YQQQ in plain words
Over the year to Sep 18, 2026, YQQQ paid 23.1% of its starting value in cash distributions while its price fell 25.7%. With every distribution reinvested, the fund returned −3.5%. Nasdaq-100 (QQQ) returned +21.8% over the same days, so a holder was behind by 25.3 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 21.3%, paid weekly. YieldMax estimates that 0% of the distribution paid Sep 18, 2026 was a return of capital (19a-1 notice, estimated, a tax characterization rather than a measure of erosion).
Questions people ask
- Which is cheaper, NLSI or YQQQ?
- NLSI charges 2.89% a year and YQQQ charges 1.11%, so YQQQ 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 YQQQ, data as of Sep 18, 2026. https://etfiq.com/compare/income/nlsi-vs-yqqq Free to use with attribution; the underlying files are at Open data.