Data as of Nov 4, 2026.
ULTY vs XSPI: Dividend Yield & Total Return
ULTY and XSPI both write options for income.
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Net assets: $576m on Nov 3, 2026 for YieldMax Ultra Option Income Strategy ETF, and $140m on Oct 28, 2026 for NEOS Boosted S&P 500 High Income ETF.
4.4 pts ahead of its own holdings
ULTY over 1 year: paid 46.0%, price −55.5%, total −12.4%, its own holdings −16.8%, +4.4 pts. Data to Nov 4, 2026.
its own holdings
−16.8%
ULTY
−12.4%
4.4 pts ahead of its own holdings
Total return, distributions reinvested
4.4 pts ahead of its own holdings
ULTY over 1 year: paid 46.0%, price −55.5%, total −12.4%, its own holdings −16.8%, +4.4 pts. Data to Nov 4, 2026.
its own holdings
−16.8%
ULTY
−12.4%
46.0% of it arrived as cash. Total return, distributions reinvested. ULTY over 1 year: paid 46.0%, price −55.5%, total −12.4%, its own holdings −16.8%, +4.4 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.About even with SPY
XSPI since launch: paid 13.9%, price −2.3%, total +12.4%, SPY +12.1%, +0.3 pts. Data to Nov 4, 2026.
SPY
+12.1%
XSPI
+12.4%
13.9% of it arrived as cash
about even with SPY
Total return, distributions reinvested
About even with SPY
XSPI since launch: paid 13.9%, price −2.3%, total +12.4%, SPY +12.1%, +0.3 pts. Data to Nov 4, 2026.
SPY
+12.1%
XSPI
+12.4%
about even with SPY
13.9% of it arrived as cash. Both charts share one scale, with zero at the line. XSPI since launch: paid 13.9%, price −2.3%, total +12.4%, SPY +12.1%, +0.3 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
XSPI costs 0.32 points a year less; ULTY is 4.4 times larger.
Points (pts) are percentage points.
| Measure | ULTY | XSPI |
|---|---|---|
| Paid and earned | ||
| Total return, 1 year | −12.4% | not published |
| Price change | fell 55.5% (1 year) | fell 2.3% (since Feb 3, 2026) |
| Return of capital, issuer estimate | 100% of the Nov 5, 2026 payment | 98% of the Oct 9, 2026 payment |
| Against its benchmark | ||
| Benchmark | its own holdings | S&P 500, measured through SPY |
| Cost and size | ||
| Expense ratio | 1.30% | 0.98% |
| Net assets, as of Oct 28, 2026 | $617m | $140m |
| Holdings | ||
| Holdings in common | 14% | |
What they share
By the books each fund has filed, ULTY and XSPI hold 14% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026 and Nov 4, 2026.
half
14% in common
Only in one fund ↓
Side by side
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
| Total return | Cash paid | Against the benchmark | ||||
|---|---|---|---|---|---|---|
| Window | ULTY | XSPI | ULTY | XSPI | ULTY | XSPI |
| 3 months | −8.3% | +1.1% | 14.3% | 4.2% | +3.4 pts | +1.2 pts |
| 6 months | −9.9% | +7.0% | 26.6% | 8.5% | +1.6 pts | +2.0 pts |
| 1 year | −12.4% | – | 46.0% | – | +4.4 pts | – |
| Since launchNot the same days: ULTY Feb 2024 · XSPI Feb 2026 | −1.9% | +12.4% | 87.9% | 13.9% | not measured | +0.3 pts |
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ULTY
Over the year to Nov 4, 2026, ULTY paid 46.0% of its starting value in cash distributions while its price fell 55.5%. With every distribution reinvested, the fund returned −12.4%. ULTY's own holdings, without the options (from its filed holdings, rebalanced at each filing; latest Nov 2, 2026) returned −16.8% over the same days, so a holder was ahead by 4.4 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 60.9%, paid weekly. YieldMax estimates that 100% of the distribution paid Nov 5, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.
XSPI
Over the period from its first trade on Feb 3, 2026 to Nov 4, 2026, XSPI paid 13.9% of its starting value in cash distributions while its price fell 2.3%. With every distribution reinvested, the fund returned +12.4%. S&P 500 (SPY) returned +12.1% 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 monthly. NEOS estimates that 98% of the distribution paid Oct 9, 2026 was a return of capital (its 19a-1 notice).
Questions people ask
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, ULTY against XSPI, data as of Nov 4, 2026. https://etfiq.com/compare/income/ulty-vs-xspi
ETFIQ. (Nov 4, 2026). ULTY against XSPI. Retrieved from https://etfiq.com/compare/income/ulty-vs-xspi
[ULTY against XSPI (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/income/ulty-vs-xspi)
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