{
 "ticker": "NLSI",
 "name": "NEOS Long/Short Equity Income ETF",
 "issuer": "NEOS",
 "desk": "income",
 "url": "https://etfiq.com/funds/nlsi",
 "html": "https://etfiq.com/funds/nlsi",
 "markdown": "https://etfiq.com/funds/nlsi.md",
 "as_of": "2026-09-11",
 "verdict": "Since its launch on Dec 10, 2025, NLSI paid 4.0% in cash and finished 7.8 points ahead of SPY.",
 "key_facts": [
  {
   "key": "cash_paid_since_launch_on_its_starting_price",
   "label": "Cash paid, since launch, on its starting price",
   "value": "4.0%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "NLSI, cash paid, since launch, on its starting price: 4.0%, as of Sep 11, 2026."
  },
  {
   "key": "total_return_since_launch",
   "label": "Total return, since launch",
   "value": "+19.9%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "NLSI, total return, since launch: +19.9%, as of Sep 11, 2026."
  },
  {
   "key": "against_spy",
   "label": "Against SPY",
   "value": "+7.8 pts",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "NLSI, against SPY: +7.8 pts, as of Sep 11, 2026."
  },
  {
   "key": "return_of_capital_latest_payout",
   "label": "Return of capital, latest payout (NEOS estimate)",
   "value": "100.0%",
   "source": "NEOS estimate",
   "as_of": "2026-09-11",
   "sentence": "NLSI, return of capital, latest payout (NEOS estimate): 100.0%, as of Sep 11, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$5m",
   "source": "issuer page, as of Sep 11, 2026",
   "as_of": "2026-09-11",
   "sentence": "NLSI, net assets: $5m (issuer page, as of Sep 11, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "2.89%",
   "source": "485BPOS XBRL, Apr 30, 2026",
   "as_of": "2026-09-11",
   "sentence": "NLSI, expense ratio: 2.89% (485BPOS XBRL, Apr 30, 2026)."
  }
 ],
 "fields": [
  {
   "key": "strategy",
   "label": "Strategy",
   "value": "option income",
   "source": null
  },
  {
   "key": "benchmark",
   "label": "Benchmark",
   "value": "S&P 500 (SPY), used as a default proxy (proxy)",
   "source": null
  },
  {
   "key": "pays",
   "label": "Pays",
   "value": "monthly",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$5m",
   "source": "issuer page, as of Sep 11, 2026"
  },
  {
   "key": "latest_payout_annualized",
   "label": "Latest payout, annualized",
   "value": "5.1%",
   "source": "ETFIQ"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "2.89%",
   "source": "485BPOS XBRL, Apr 30, 2026"
  },
  {
   "key": "cash_paid_last_12_months_over_today_s_price",
   "label": "Cash paid, last 12 months, over today\u2019s price",
   "value": "3.5%",
   "source": "ETFIQ"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Dec 10, 2025",
   "source": null
  },
  {
   "key": "return_of_capital_latest_distribution",
   "label": "Return of capital, latest distribution",
   "value": "100.0%",
   "source": "NEOS 19a-1 estimate"
  },
  {
   "key": "pays",
   "label": "Pays",
   "value": "monthly",
   "source": null
  },
  {
   "key": "typical_gap_between_ex_dates",
   "label": "Typical gap between ex-dates",
   "value": "28 days",
   "source": null
  },
  {
   "key": "typical_wait_from_ex_date_to_payment",
   "label": "Typical wait from ex-date to payment",
   "value": "2 days",
   "source": null
  },
  {
   "key": "last_paid_per_share",
   "label": "Last paid, per share",
   "value": "$0.2465 ex Aug 26, 2026",
   "source": null
  },
  {
   "key": "sum_of_the_last_9_distributions",
   "label": "Sum of the last 9 distributions",
   "value": "$2.0064",
   "source": null
  }
 ],
 "periods": [
  {
   "window": "3 months",
   "Cash paid": "1.4%",
   "Price": "+14.9%",
   "Total return": "+16.4%",
   "SPY": "+3.3%",
   "Ahead or behind": "+13.1 pts"
  },
  {
   "window": "6 months",
   "Cash paid": "2.9%",
   "Price": "+25.3%",
   "Total return": "+28.6%",
   "SPY": "+16.0%",
   "Ahead or behind": "+12.6 pts"
  },
  {
   "window": "Since launch",
   "Cash paid": "4.0%",
   "Price": "+15.2%",
   "Total return": "+19.9%",
   "SPY": "+12.1%",
   "Ahead or behind": "+7.8 pts"
  }
 ],
 "questions": [
  {
   "q": "How much has NLSI paid over the last year?",
   "a": "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%."
  },
  {
   "q": "Is NLSI ahead of SPY?",
   "a": "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."
  },
  {
   "q": "How often does NLSI pay, and how much?",
   "a": "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."
  },
  {
   "q": "Is the NLSI distribution return of capital?",
   "a": "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."
  },
  {
   "q": "When does NLSI next pay a distribution?",
   "a": "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."
  },
  {
   "q": "What does NLSI cost?",
   "a": "The prospectus expense ratio is 2.89% a year."
  }
 ],
 "generated": "2026-09-13",
 "license": "Free to use with attribution. ETFIQ (etfiq.com)."
}