Data as of Nov 4, 2026.

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Income ETFs

SPYI vs VOOY: Dividend Yield & Total Return

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SPYI and VOOY both write options for income.

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Net assets: $12.7bn on Oct 28, 2026 for NEOS S&P 500 High Income ETF, beside XFUNDS Large Cap Income ETF.

At a glance
12.1%
SPYI cash paid, 1 year
1.5%
VOOY cash paid, since launch, Sep 2, 2026
+14.0%
SPYI total return, 1 year
+0.3%
VOOY total return, since launch, Sep 2, 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. Total return, distributions reinvested. 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.
VOOY · since launch to Nov 4, 2026 Not measured
VOOY
+0.3%
none

Not measured

VOOY since launch: paid 1.5%, price −1.2%, total +0.3%, not measured against a benchmark. Data to Nov 4, 2026.

VOOY

+0.3%

Total return, distributions reinvested

Not measured

VOOY since launch: paid 1.5%, price −1.2%, total +0.3%, not measured against a benchmark. Data to Nov 4, 2026.

VOOY

+0.3%

1.5% of it arrived as cash. Both charts share one scale, with zero at the line. VOOY since launch: paid 1.5%, price −1.2%, total +0.3%, not measured against a benchmark. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

SPYI costs 0.07 points a year less.

Points (pts) are percentage points.

SPYI vs VOOY: Dividend Yield & Total Return
MeasureSPYIVOOY
Paid and earned
Total return, 1 year+14.0%not published
Price changerose 1.1% (1 year)fell 1.2% (since Sep 2, 2026)
Return of capital, issuer estimate99% of the Oct 23, 2026 payment26% of the Oct 7, 2026 payment
Against its benchmark
BenchmarkS&P 500, measured through SPYnot published
Cost and size
Expense ratio0.68%0.75%
Net assets$12.7bnnot read by ETFIQ
Holdings
Holdings in commonnot published

Method

Side by side

SPYI NEOS S&P 500 High Income ETF · Option income on SPY, paying monthly VOOY XFUNDS Large Cap Income ETF · Option income
Issuer NEOS XFUNDS
Strategy option income option income
Benchmark S&P 500 (SPY) none
Pays monthly not established
Payout rate, annualized 11.5% 9.1%
Expense ratio 0.68% 0.75%
Cash paid, 1 year 12.1% 1.5% (since launch, Sep 2, 2026)
Price change, 1 year +1.1% −1.2% (since launch, Sep 2, 2026)
Total return, 1 year +14.0% +0.3% (since launch, Sep 2, 2026)
Benchmark return, 1 year +14.8% not published
Ahead or behind −0.8 pts not available
Return of capital, latest estimate 99% 26%
Age 4.2 years 63 days
Net assets $12.7bn not read by ETFIQ

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: SPYI vs VOOY: Dividend Yield & Total Return
Total returnCash paidAgainst the benchmark
WindowSPYIVOOYSPYIVOOYSPYIVOOY
3 months+1.1%–2.9%–+1.3 pts–
6 months+5.8%–6.0%–+0.7 pts–
1 year+14.0%–12.1%–−0.8 pts–
3 years+62.0%–39.3%–−20.9 pts–
Since launchNot the same days: SPYI Aug 2022 · VOOY Sep 2026+78.5%+0.3%51.3%1.5%−25.2 ptsnot measured

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About each fund
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). That is a tax label, not a measure of erosion.

VOOY

Over the period from its first trade on Sep 2, 2026 to Nov 4, 2026, VOOY paid 1.5% of its starting value in cash distributions while its price fell 1.2%. With every distribution reinvested, the fund returned +0.3%. At its price on Nov 4, 2026 the latest distribution annualizes to 9.1%, paid periodically. XFUNDS estimates that 26% of the distribution paid Oct 7, 2026 was a return of capital (its 19a-1 notice).

Questions people ask

Which is cheaper, SPYI or VOOY?
SPYI charges 0.68% a year and VOOY charges 0.75%, so SPYI is cheaper. Fees come from each fund's prospectus.
Other comparisons
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ETFIQ, SPYI against VOOY, data as of Nov 4, 2026. https://etfiq.com/compare/income/spyi-vs-vooy

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