NLSI NEOS Long/Short Equity Income ETF
Option income on SPY, paying monthly
Since its launch on Dec 10, 2025, NLSI paid 4.0% in cash and finished 7.8 points ahead of SPY.
Key facts
What a holder got
Over the year to Sep 11, 2026, NLSI returned +19.9% with distributions reinvested and S&P 500 (SPY), used as a default proxy returned +12.1%, so a holder came out ahead of it by 7.8 points. The lighter segment is the 4.0% that arrived as cash rather than as price.
Its ten largest equity positions
| Holding | Ticker | Weight | |
|---|---|---|---|
| Micron Technology Inc | MU | 14.23% | |
| F5 Inc | FFIV | 3.90% | |
| Progressive Corp/The | PGR | 3.80% | |
| Adobe Inc | ADBE | 3.37% | |
| Jack Henry & Associates Inc | JKHY | 3.32% | |
| Universal Health Services Inc | UHS | 3.23% | |
| Insulet Corp | PODD | 3.19% | |
| Veeva Systems Inc | VEEV | 3.19% | |
| PTC Inc | PTC | 3.18% | |
| NVIDIA Corp | NVDA | 3.17% |
Period by period
| Window | Cash paid | Price | Total return | SPY | Ahead or behind |
|---|---|---|---|---|---|
| 3 months | 1.4% | +14.9% | +16.4% | +3.3% | +13.1 pts |
| 6 months | 2.9% | +25.3% | +28.6% | +16.0% | +12.6 pts |
| Since launch | 4.0% | +15.2% | +19.9% | +12.1% | +7.8 pts |
When NLSI pays
NLSI pays monthly. The last distribution was $0.2465 a share, which went ex on Aug 26, 2026, with payment about 2 days later. The next has not been declared. On its own cadence of about 28 days the ex-date falls near Sep 23, 2026; that date is an ETFIQ projection, not the issuer’s.
| Ex-date | Pay date | Amount | Basis |
|---|---|---|---|
| Sep 23, 2026 | Sep 25, 2026 | $0.2465 | ETFIQ projection from the fund’s own cadence |
| Oct 21, 2026 | Oct 23, 2026 | $0.2465 | ETFIQ projection from the fund’s own cadence |
Every distribution ETFIQ holds for NLSI (9, most recent first)
| Ex-date | Amount |
|---|---|
| Aug 26, 2026 | $0.2465 |
| Jul 29, 2026 | $0.2365 |
| Jun 24, 2026 | $0.2254 |
| May 27, 2026 | $0.2256 |
| Apr 29, 2026 | $0.2076 |
| Mar 25, 2026 | $0.21 |
| Feb 25, 2026 | $0.1982 |
| Jan 28, 2026 | $0.2195 |
| Dec 24, 2025 | $0.2371 |
Every income ETF going ex-dividend in the next fortnight
In plain words
Since it launched on Dec 10, 2025, NLSI has returned +19.9% with distributions reinvested, against +12.1% for S&P 500 (SPY), used as a default proxy, and has paid out 4.0% of its starting value in cash along the way. It pays monthly, and at its current price the latest distribution annualizes to 5.1%. NEOS estimates that 100% of the distribution paid Jul 31, 2026 was a return of capital. That is the issuer’s own Rule 19a-1 estimate and a tax characterization, made before the fund year closes: it says the payment included money the fund gave back rather than earned, not that the fund is eroding.
| Strategy | option income |
|---|---|
| Benchmark | S&P 500 (SPY), used as a default proxy (proxy) |
| Pays | monthly |
| Net assets (issuer page, as of Sep 11, 2026) | $5m |
| Latest payout, annualized (ETFIQ) | 5.1% |
| Expense ratio (485BPOS XBRL, Apr 30, 2026) | 2.89% |
| Cash paid, last 12 months, over today’s price (ETFIQ) | 3.5% |
| Launched | Dec 10, 2025 |
| Return of capital, latest distribution (NEOS 19a-1 estimate) | 100.0% |
| Pays | monthly |
| Typical gap between ex-dates | 28 days |
| Typical wait from ex-date to payment | 2 days |
| Last paid, per share | $0.2465 ex Aug 26, 2026 |
| Sum of the last 9 distributions | $2.0064 |
Every figure is an ETFIQ calculation from exchange prices and cash distributions (Tiingo end-of-day), total return with distributions reinvested. Return of capital is the issuer’s estimate. How these figures are computed
Questions people ask
- How much has NLSI paid over the last year?
- Over the period from its launch on Dec 10, 2025 to Sep 11, 2026, NLSI paid 4.0% of its starting price in cash distributions, while the price rose 15.2%.
- Is NLSI ahead of SPY?
- Over the period from its launch on Dec 10, 2025 to Sep 11, 2026, with every distribution reinvested, NLSI returned +19.9% against +12.1% for S&P 500 (SPY), used as a default proxy, so a holder was ahead of it by 7.8 points.
- How often does NLSI pay, and how much?
- NLSI pays monthly. The latest distribution annualizes to 5.1% at its price on Sep 11, 2026, which is not a promise; the next one can differ.
- Is the NLSI distribution return of capital?
- NEOS estimates 100% of the distribution paid Jul 31, 2026 was return of capital. That is a tax characterization from the fund's own 19a-1 notice, not a measure of erosion.
- When does NLSI next pay a distribution?
- NLSI pays monthly. The last distribution went ex on Aug 26, 2026 at $0.2465 a share. The next is not declared; on a cadence of about 28 days the ex-date falls near Sep 23, 2026, which is an ETFIQ projection. Payment usually follows the ex-date by 2 days.
- What does NLSI cost?
- The prospectus expense ratio is 2.89% a year.
The words on this page
- Total return
- What a holder actually ended up with: price change plus every distribution, reinvested. The only figure that answers whether you came out ahead.
- Cash paid
- Distributions over the window as a share of what the fund cost at the start. A measure of cash delivered, not of return: a fund can pay a great deal and still lose money.
- Ahead or behind
- The fund’s total return minus the benchmark’s over exactly the same days, in percentage points. Both sides reinvest.
- Return of capital
- The issuer’s own estimate, in a Rule 19a-1 notice, of how much of a distribution was your own money returned. An estimate and a tax characterization, not a measure of erosion.
- Covered call
- Selling call options on shares the fund holds. It collects a premium and gives up the gains above the strike, which is why these funds pay well and lag a rising market.
Every term used here, defined in full on the income ETFs vocabulary page.
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.
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Cite this page. ETFIQ, NLSI, income ETFs, data as of Sep 11, 2026. https://etfiq.com/funds/nlsi Free to use with attribution; the underlying files are at Open data.