Which paid more, QRMI or SPYI?

Over the year to Nov 4, 2026, QRMI paid 11.6% of its starting price in cash and SPYI paid 12.1%, so SPYI paid more. Cash paid is not the same as money made: the price change matters too.

Which returned more once distributions are counted, QRMI or SPYI?

With every distribution reinvested, QRMI returned +3.7% and SPYI +14.0% over the year to Nov 4, 2026.

Which is cheaper, QRMI or SPYI?

QRMI charges 0.60% a year and SPYI charges 0.68%, so QRMI is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

QRMI vs SPYI: Dividend Yield & Total Return

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Over the year to Nov 4, 2026, SPYI paid 12.1% of its price in cash against QRMI’s 11.6%, and returned more with it reinvested.

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Net assets: $15m on Oct 12, 2026 for Global X NASDAQ 100 Risk Managed Income ETF, and $12.7bn on Oct 28, 2026 for NEOS S&P 500 High Income ETF.

QRMI on its own →SPYI on its own →

At a glance

11.6%

QRMI cash paid, 1 year

12.1%

SPYI cash paid, 1 year

+3.7%

QRMI total return, 1 year

+14.0%

SPYI total return, 1 year

QRMI · 1 year to Nov 4, 2026 8.6 pts behind QQQ

QRMI

+3.7%

QQQ

+12.3%

8.6 pts behind QQQ

QRMI over 1 year: paid 11.6%, price −8.1%, total +3.7%, QQQ +12.3%, −8.6 pts. Data to Nov 4, 2026.

QQQ

+12.3%

QRMI

+3.7%

11.6% as cash

8.6 pts behind QQQ

Total return, distributions reinvested

8.6 pts behind QQQ

QRMI over 1 year: paid 11.6%, price −8.1%, total +3.7%, QQQ +12.3%, −8.6 pts. Data to Nov 4, 2026.

QQQ

+12.3%

QRMI

+3.7%

8.6 pts behind QQQ

11.6% of it arrived as cash. Total return, distributions reinvested. QRMI over 1 year: paid 11.6%, price −8.1%, total +3.7%, QQQ +12.3%, −8.6 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

SPYI · 1 year to Nov 4, 2026 0.8 pts behind SPY

SPYI

+14.0%

SPY

+14.8%

0.8 pts behind SPY

SPYI over 1 year: paid 12.1%, price +1.1%, total +14.0%, SPY +14.8%, −0.8 pts. Data to Nov 4, 2026.

SPY

+14.8%

SPYI

+14.0%

12.1% of it arrived as cash

0.8 pts behind SPY

Total return, distributions reinvested

0.8 pts behind SPY

SPYI over 1 year: paid 12.1%, price +1.1%, total +14.0%, SPY +14.8%, −0.8 pts. Data to Nov 4, 2026.

SPY

+14.8%

SPYI

+14.0%

12.1% as cash

0.8 pts behind SPY

12.1% of it arrived as cash. Both charts share one scale, with zero at the line. SPYI over 1 year: paid 12.1%, price +1.1%, total +14.0%, SPY +14.8%, −0.8 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

QRMI costs 0.08 points a year less; their one-year returns differ by 10.3 points; SPYI is far larger, $12.6bn against $15m.

Points (pts) are percentage points.

QRMI vs SPYI: Dividend Yield & Total Return
Measure	QRMI	SPYI
Paid and earned
Measure	QRMI	SPYI
Total return, 1 year	+3.7%	+14.0%
Price change, 1 year	fell 8.1%	rose 1.1%
Return of capital, issuer estimate	100% of the Sep 24, 2026 payment	99% of the Oct 23, 2026 payment
Against its benchmark
Measure	QRMI	SPYI
Benchmark	Nasdaq-100, measured through QQQ	S&P 500, measured through SPY
Cost and size
Measure	QRMI	SPYI
Expense ratio	0.60%	0.68%
Net assets, as of Oct 12, 2026	$15m	$12.6bn
Holdings
Measure	QRMI	SPYI
Holdings in common	52%

ETFIQ Distribution Coverage Score · SPYI scores higher How much of what it paid out did its total return cover?

IQ Income Score27.2QRMI68.6SPYI

How much of its payouts the fund's total return covered, ranked against 167 income ETFs not writing on a single company. 100 is best. How it is computed

QRMI 27.2

SPYI 68.6

0.3, the lowest in this set 99.7, the highest

One year only, and a ratio of two published numbers: it says nothing about where a distribution came from. All income ETFs ranked by it →

Method

What they share

52%

By the books each fund has filed, QRMI and SPYI hold 52% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Nov 3, 2026.

50%

0 half 100%

half

52% in common

Positions both hold · largest shared weight first QRMI SPYI

NVIDIA CORPORATION 8.14% 7.67%

APPLE INC. 7.60% 7.40%

MICROSOFT CORPORATION 5.78% 5.90%

AMAZON.COM, INC. 4.90% 3.76%

ALPHABET INC. 3.48% 2.49%

BROADCOM INC. 3.10% 2.41%

META PLATFORMS, INC. 2.77% 2.07%

ALPHABET INC. 3.26% 2.02%

TESLA, INC. 2.60% 1.72%

MICRON TECHNOLOGY, INC. 4.29% 1.46%

ADVANCED MICRO DEVICES, INC. 3.60% 1.21%

WALMART INC. 2.51% 0.83%

Only in one fund ↓

Only in QRMI

SPACE EXPLORATION TECHNOLOGIES CORP. 0.97%

ASML Holding N.V. 0.72%

SHOPIFY INC. 0.67%

ARM Holdings PLC 0.49%

MercadoLibre, Inc. 0.46%

WARNER BROS. DISCOVERY, INC. 0.29%

PDD Holdings Inc. 0.28%

Astera Labs Inc 0.24%

Only in SPYI

Eli Lilly & Co 1.72%

Berkshire Hathaway Inc 1.55%

JPMORGAN CHASE & CO. 1.37%

ExxonMobil Holdings Corp 1.12%

Visa Inc 1.06%

Johnson & Johnson 0.98%

Mastercard Inc 0.79%

AbbVie Inc 0.77%

Check overlap with more funds →

Side by side

QRMI Global X NASDAQ 100 Risk Managed Income ETF · Option income on QQQ, paying monthly SPYI NEOS S&P 500 High Income ETF · Option income on SPY, paying monthly

Issuer Global X NEOS

Strategy option income option income

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

Pays monthly monthly

Payout rate, annualized 12.2% 11.5%

Expense ratio 0.60% 0.68%

Cash paid, 1 year 11.6% 12.1%

Price change, 1 year −8.1% +1.1%

Total return, 1 year +3.7% +14.0%

Benchmark return, 1 year +12.3% +14.8%

Ahead or behind −8.6 pts −0.8 pts

Return of capital, latest estimate 100% 99%

Age 5.2 years 4.2 years

Net assets, QRMI as of Oct 12, 2026 and SPYI as of Oct 28, 2026 $15m $12.7bn

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: QRMI vs SPYI: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	QRMI	SPYI	QRMI	SPYI	QRMI	SPYI
3 months	−0.1%	+1.1%	3.0%	2.9%	+3.4 pts	+1.3 pts
6 months	+1.0%	+5.8%	5.9%	6.0%	+1.3 pts	+0.7 pts
1 year	+3.7%	+14.0%	11.6%	12.1%	−8.6 pts	−0.8 pts
3 years	+25.7%	+62.0%	35.0%	39.3%	−65.7 pts	−20.9 pts
Since launchNot the same days: QRMI Aug 2021 · SPYI Aug 2022	+8.5%	+78.5%	42.0%	51.3%	−83.2 pts	−25.2 pts

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Alert

About each fund

QRMI

Over the year to Nov 4, 2026, QRMI paid 11.6% of its starting value in cash distributions while its price fell 8.1%. With every distribution reinvested, the fund returned +3.7%. Nasdaq-100 (QQQ) returned +12.3% over the same days, so a holder was behind by 8.6 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 12.2%, paid monthly. Global X estimates that 100% of the distribution paid Sep 24, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.

SPYI

Over the year to Nov 4, 2026, SPYI paid 12.1% of its starting value in cash distributions while its price rose 1.1%. With every distribution reinvested, the fund returned +14.0%. S&P 500 (SPY) returned +14.8% over the same days, so a holder was behind by 0.8 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 11.5%, paid monthly. NEOS estimates that 99% of the distribution paid Oct 23, 2026 was a return of capital (its 19a-1 notice).

Questions people ask

Which paid more, QRMI or SPYI?: Over the year to Nov 4, 2026, QRMI paid 11.6% of its starting price in cash and SPYI paid 12.1%, so SPYI paid more. Cash paid is not the same as money made: the price change matters too.
Which returned more once distributions are counted, QRMI or SPYI?: With every distribution reinvested, QRMI returned +3.7% and SPYI +14.0% over the year to Nov 4, 2026.
Which is cheaper, QRMI or SPYI?: QRMI charges 0.60% a year and SPYI charges 0.68%, so QRMI is cheaper. Fees come from each fund's prospectus.

Other comparisons

QRMI vs DIVO QRMI vs GPIX QRMI vs JEPI QRMI vs XYLD SPYI vs ACQQ SPYI vs FTQI SPYI vs GPIQ SPYI vs QYLD

Where to next

Nasdaq-100 (QQQ) →S&P 500 (SPY) →QRMI on its own →SPYI on its own →QRMI dividend history →QRMI holdings →SPYI dividend history →SPYI holdings →Method →Standards and sources →

Sources and dates

QRMI filings on SEC EDGAR ↗

QRMI prospectus with the expense ratio (SEC) ↗

QRMI 19a-1 distribution notice ↗

Global X page for QRMI ↗

SPYI filings on SEC EDGAR ↗

SPYI prospectus with the expense ratio (SEC) ↗

SPYI 19a-1 distribution notice ↗

NEOS page for SPYI ↗

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

How this is computed

It is a place in a set, not a rating or a recommendation.

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, QRMI against SPYI, data as of Nov 4, 2026. https://etfiq.com/compare/income/qrmi-vs-spyi

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