Category Review
The four largest Nasdaq-100 income funds trailed the stocks by 0.9 to 5.8 percentage points
NEOS Nasdaq-100 High Income ETF
$55.88−0.12 (−0.21%)
- 0.68%
- $15.4B
- +20.7%
- 13.64%
- 5.3M sh
- $56.28
- low $47.87high $57.84
The ETF.net QQQI Grade
A
Score 72 out of 100
- 6 of 31
Score 72 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.C53 out of 100Rank 14 of 31Mission
Whether the fund did what it promised, tested against its stated mandate.A86 out of 100Rank 12 of 19Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B58 out of 100Rank 11 of 30Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A98 out of 100Rank 1 of 31Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A75 out of 100Rank 7 of 23Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A76 out of 100Rank 4 of 31
Our read on QQQI
AA Nasdaq-100 income fund built around the tax code: it holds the index's stocks and sells NDX index options that qualify as Section 1256 contracts, taxed 60/40 long/short term, then pays monthly. Launched 2024, now a multi-billion-dollar fund.
The Fund seeks high monthly income in a tax-efficient manner while allowing for equity appreciation. It invests in Nasdaq-100 constituents and uses NDX call options, including written calls and possible call spreads, to generate option-premium income.
Why people hold it
- Income engine runs on index options treated as Section 1256 contracts (60% long-term, 40% short-term rates), with managers also hunting tax-loss harvesting opportunities.neosfunds.comneosfunds.com
- Not a plain covered-call sleeve: the strategy can buy out-of-the-money NDX calls against the ones it sells, leaving room to capture part of a Nasdaq-100 rise.neosfunds.com
- Pays monthly, trades very actively, and is one of the larger funds in the Nasdaq-100 income aisle, so getting in and out is rarely the hard part.
- Does what the label says: Nasdaq-100 constituents plus an NDX call program, run actively rather than on a fixed monthly formula.neosfunds.com
Worth knowing
- Costs 0.68% a year. That matches the cohort median, but the biggest rivals run cheaper: QQA at 0.33%, GPIQ and JEPQ at 0.35%.
- Distributions have been classified as return of capital. That can defer tax, but it also trims your cost basis; the 19a-1 notices show the breakdown.neosfunds.com
- Written calls trade away part of a big Nasdaq-100 rally, and the fund only opened in January 2024, so its record spans one market regime.neosfunds.com
QQQI Holdings
- Stocks
- 102
- 47%
- NVDA
Sectors
- Technology61.2%
- Communication12.7%
- Consumer Discretionary10.1%
- Consumer Staples5.6%
- Health Care3.9%
- Industrials3.8%
- Utilities1.0%
- Materials0.9%
- Energy0.5%
- Financials0.2%
Geography
- United States94.66%
- United Kingdom1.64%
- Netherlands1.31%
- Canada1.01%
- Singapore0.76%
- Uruguay0.39%
- Ireland0.22%
QQQI Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.Not enough history yet.
QQQI$12,074
Returns run to the Oct 12, 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.
| Period | QQQI |
|---|---|
| Year to date | +15.6% |
| 1 month | +3.9% |
| 3 months | +2.9% |
| 1 year | +20.7% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | QQQI |
|---|---|---|
| 2026 YTD | +15.6% | |
| 2025 | +18.6% | |
| 2024 | +19.9% |
QQQI in the news
QQQI Dividends
- 13.64%
- $7.64
- $0.63 per share
- Monthly
Distribution history
QQQI Risk
- 12.6%
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.
- 1.22
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.
- −20.0%
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.
- 0.93
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
QQQI Cost
0.68%
QQQI0.68%
- The middle half of Nasdaq-100 Option Income funds
- Median 0.71%
12 of the 30 Nasdaq-100 Option Income funds charge less.
Other funds in Nasdaq-100 Option Income
- AJEPQJPMorgan Nasdaq Equity Premium Income ETFExpense ratio 0.35%1 year return +21.5%
- ABALQiShares Nasdaq Premium Income Active ETFExpense ratio 0.35%1 year return —
- AROCQJPMorgan Nasdaq Equity Premium Yield ETFExpense ratio 0.35%1 year return —
- AFTQIFirst Trust Nasdaq BuyWrite Income ETFExpense ratio 0.75%1 year return +23.2%
- BTDAQTappAlpha Innovation 100 Growth & Daily Income ETFExpense ratio 0.68%1 year return +27.2%