Skip to content
etf.net

NEHI

GradeCChicago Board Options Exchange

NEOS Ethereum High Income ETF

Crypto derivatives · Option Income · Neos · Inception 2025-12-02

This fund gets its cryptocurrency exposure through futures contracts rather than holding coins directly. Futures-based returns can differ from the spot price of the coin.

$33.53−0.79 (−2.30%)

As of Sep 23, 2026, 2:19 PM EDT

History starts Dec 3, 2025.History starts Dec 3, 2025.
Intraday session: down, 42 prints from 34.32 to 33.53. Range 33.33 to 34.08. Use the arrow keys to read each point.$33.40$33.80$34.0010 AM12 PM2 PM4 PM
Expense ratio
0.98%
Fund size
$110M
1Y return
—
Yield · Last 12 months
Data unavailable
Volume · 30D
0.1M sh
NAV per share
$33.13
52W range
low $22.86high $56.34

The ETF.net NEHI Grade

C

50/ 100

Rank 8 of 22 in Crypto Option Income⁠

Confidence Medium

Six-pillar profile for NEHI. Scores out of 100: Cost 31, Risk 54, Mission not scored, Tradability 76, Holdings 53, Durability 66. Strongest: Tradability (76). Weakest: Cost (31). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 50 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    DScore 31
    Category rank15/22 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 54
    Category rank9/22 · top 41%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 76
    Category rank4/22 · top 18%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    CScore 53
    Category rank7/14 · top 50%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 66
    Category rank9/22 · top 41%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on NEHI

ETF.net Research

CCrypto income shelves are stacked with Bitcoin. NEHI aims the same covered-call machinery at Ether: hold Ether-linked exchange-traded products, sell calls against them, convert part of the upside into monthly cash.

Stated mandate

The Fund seeks high monthly income and potential appreciation through ETPs with direct exposure to Ether, using a call-option strategy that converts part of potential Ether upside into current income.

Why people hold it

  1. 01The Ether entry in a group built mostly on Bitcoin. Its highest-graded peers (SPBC, CEPI, BTCC, BAGY, DFII) all reference Bitcoin; NEHI's reference asset is Ether.
  2. 02The mechanism is plain: own ETPs with direct Ether exposure, write calls on top, pay monthly. Upside is traded for current income by design, not by drift.
  3. 03A registered 1940 Act fund, not a crypto account. Ether exposure arrives through an ETF ticker instead of wallets, keys or an exchange login.

Worth knowing

  1. 01At 0.98%, the fee sits at the upper end of the crypto-income group, above the cohort's typical charge. Options overlays bill for the work.
  2. 02Selling calls clips Ether's sharpest rallies while leaving downside largely intact. That asymmetry is the price of the income.
  3. 03Launched December 2025, so the payout record is thin, and the fund discloses that monthly distributions can include return of capital.

NEHI Holdings

As of Sep 20, 2026, 8:37 AM
Asset class
Other
Holdings
—
Top-10 weight
102%
Largest holding
912797UM748.6%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001912797UM7United States Treasury Bill 11/05/202648.61%53,883,000$54M16
0022ETHA 261016C00012000ETHA 10/16/2026 12 C32.82%45,228$36M1
003ETHAiShares Ethereum Trust ETF19.17%1,061,516$21M7
004Cash&OtherCash & Other1.13%1,249,630$1M50

Showing 1–4 of 4 holdings

NEHI Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

NEHI$8,932
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,430
Dec 31, 2025 to Sep 22, 2026. NEHI $8,932. SPY $11,430. Use the arrow keys to read each point.$5,110$8,525$11,939Dec 2025May 2026Sep 2026

Dec 31, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for NEHI. Periods over one year show the average yearly return.
PeriodNEHI
Year to date−10.7%
1 month+12.2%
3 months+43.3%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for NEHI
YearReturn barNEHI
2026 YTD−10.7%
2025−3.0%

History from Dec 3, 2025

NEHI in the news

ETF.net Research hasn’t filed on NEHI yet — coverage lands here as it’s written.

NEHI Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.87 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 10 payments from 2025 to 2026 YTD. Dec 24, 2025 $1.41; Jan 21, 2026 $1.51; Feb 18, 2026 $0.91; Mar 18, 2026 $0.98; Apr 22, 2026 $0.98; May 20, 2026 $0.89; Jun 16, 2026 $0.69; Jul 22, 2026 $0.74; Aug 19, 2026 $0.72; Sep 16, 2026 $0.87. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Sep 16, 2026Sep 18, 2026$0.87
Aug 19, 2026Aug 21, 2026$0.72
Jul 22, 2026Jul 24, 2026$0.74
Jun 16, 2026Jun 18, 2026$0.69
May 20, 2026May 22, 2026$0.89
Apr 22, 2026Apr 24, 2026$0.98
Mar 18, 2026Mar 20, 2026$0.98
Feb 18, 2026Feb 20, 2026$0.91
Jan 21, 2026Jan 23, 2026$1.51
Dec 24, 2025Dec 26, 2025$1.41

NEHI Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Dec 2025; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Dec 2025; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Dec 2025; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.46
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

NEHI Cost

Expense ratio0.98%
  • The middle half of Crypto Option Income funds
  • Median 0.85%

13 of the 21 Crypto Option Income funds charge less.

NEHI costs $98.00 a year on $10,000. The median Crypto Option Income fund costs $85.00.