SPYI Dividend Calculator
NEOS S&P 500 High Income ETF — what it pays today, and what it could pay later.
Income Calculator
Price
$53.17
Yield
11.92%
Growth
3.1%
median, historical
Pays
Monthly
Income today
$11,925/year
$994 per month · based on the last 12 payments
Ordinary dividend
taxed this year at your marginal rate
$2,424
Return of capital
deferred — 80% of the payout
$9,501
If the dividend grows at…
No single forecast. Different assumptions give very different answers — and the shape of that divergence matters more than any single year.
| Growth | Year 10 | Year 20 | Year 30 |
|---|---|---|---|
| 3.0%historical | $16,026 | $21,537 | $28,944 |
| 5.0% | $19,424 | $31,640 | $51,538 |
| 8.0% | $25,744 | $55,580 | $119,994 |
| 10.0%commonly used | $30,929 | $80,223 | $208,078 |
The 3 complete years with data give a median year-over-year growth of 3.1%. That is where the highlighted row comes from — it is a historical measurement, not a forecast.
Fund Facts
- Issuer
- NEOS Investments
- Expense ratio
- 0.68%
- Inception
- August 2022
- Listed on
- NYSE American
- Structure
- Active — S&P 500 exposure plus an index call option overlay (Section 1256 contracts)
What SPYI is
SPYI is the S&P 500 version of the same approach QQQI uses. It holds the index and sells call options on it, but through SPX contracts rather than the equity-linked notes JEPI relies on. That difference is the whole point: index options are Section 1256 instruments, taxed at a blended 60% long-term / 40% short-term rate, and combined with tax-loss harvesting inside the fund it means most of each monthly distribution is return of capital rather than income. Compared with JEPI — similar strategy, similar fee — the distributions are higher and the tax character is opposite.
Who it suits. Investors who want S&P 500 income and will hold it in a taxable account, where the return of capital defers tax instead of being wasted.
Distribution History
Total distributed per share in each complete calendar year, taken from the fund’s own payment record.
| Year | Per share | vs prior year |
|---|---|---|
| 2023 | $5.7873 | — |
| 2024 | $6.1182 | +5.7% |
| 2025 | $6.1458 | +0.5% |
Current trailing payout: $6.3403 per share over the last 12 payments, a yield of 11.92%at today’s price. 80% of that is return of capital.
Compare with
VIG · Vanguard Dividend Appreciation ETF
0.06% · Vanguard
SCHD · Schwab US Dividend Equity ETF
0.06% · Charles Schwab
VYM · Vanguard High Dividend Yield ETF
0.06% · Vanguard
DGRO · iShares Core Dividend Growth ETF
0.08% · iShares (BlackRock)
RDVY · First Trust Rising Dividend Achievers ETF
0.49% · First Trust
VYMI · Vanguard International High Dividend Yield ETF
0.22% · Vanguard
VIGI · Vanguard International Dividend Appreciation ETF
0.15% · Vanguard
IDV · iShares International Select Dividend ETF
0.50% · iShares (BlackRock)
JEPI · JPMorgan Equity Premium Income ETF
0.35% · JPMorgan Asset Management
JEPQ · JPMorgan Nasdaq Equity Premium Income ETF
0.35% · JPMorgan Asset Management
QQQI · NEOS Nasdaq-100 High Income ETF
0.68% · NEOS Investments
QYLD · Global X Nasdaq 100 Covered Call ETF
0.61% · Global X
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