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XSPI

GradeDNASDAQ Global Market

NEOS Boosted S&P 500 High Income ETF

Option Income · Neos · Inception 2026-02-02 · SEC filings

$49.94−0.37 (−0.74%)

As of Sep 23, 2026, 3:09 PM EDT

History starts Feb 3, 2026.History starts Feb 3, 2026.
Intraday session: down, 66 prints from 50.31 to 49.94. Range 49.82 to 50.30. Use the arrow keys to read each point.$49.80$50.00$50.2010 AM12 PM2 PM4 PM
Expense ratio
0.98%
Fund size
$113M
1Y return
—
Yield · Last 12 months
Data unavailable
Volume · 30D
0.1M sh
NAV per share
$49.45
52W range
low $42.70high $51.17

The ETF.net XSPI Grade

D

32/ 100

Rank 50 of 52 in S&P 500 Option Income⁠

Confidence Medium

Six-pillar profile for XSPI. Scores out of 100: Cost 9, Risk 26, Mission not scored, Tradability 61, Holdings 62, Durability 46. Strongest: Holdings (62). Weakest: Cost (9). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 32 of 100 sits in the D 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.
    FScore 9
    Category rank48/52 · bottom quartile

  • 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.
    DScore 26
    Category rank47/52 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 61
    Category rank13/52 · top 25%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    BScore 62
    Category rank20/41 · top 49%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 46
    Category rank36/52 · mid-pack

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

Our read on XSPI

ETF.net Research

DThe leveraged cousin in the NEOS income lineup: S&P 500 stocks plus a laddered call overlay, boosted with synthetic long exposure to roughly 150% notional, in pursuit of a 15% annualized distribution paid monthly.

Stated mandate

The Fund seeks high monthly income in a tax-efficient manner, with potential for enhanced equity appreciation in rising markets.

Why people hold it

  1. 01The boost is mechanical: buy index calls and sell index puts at similar strikes to reach about 150% notional exposure, then write additional SPX calls on top. More premium collected, more equity exposure working.neosfunds.comsec.gov
  2. 02Calls are laddered out of the money and not written across the whole portfolio, so part of a rally stays open rather than being capped away.neosfunds.com
  3. 03Built on the same S&P 500 options framework as NEOS's flagship SPYI, using index options and distributions the issuer has classified as return of capital, which defers tax and trims cost basis instead of hitting as ordinary income.neosfunds.com
  4. 04Income is designed to arrive monthly rather than quarterly, from an actively managed overlay on the 500 largest US listed companies.

Worth knowing

  1. 01Fees run high: 0.98% versus a roughly 0.6% median for S&P 500 options-income funds, and above the unleveraged sibling SPYI at 0.68%. The boost and the overlay cost real money.
  2. 02Leverage cuts both ways. Roughly 150% notional exposure magnifies drawdowns as well as gains, and the call overlay can mute part of the bounce back.neosfunds.comsec.gov
  3. 03Launched in February 2026, so the track record is thin, and a payout funded partly by return of capital reduces both net asset value and your cost basis over time.neosfunds.com

XSPI Holdings

As of Sep 20, 2026, 8:37 AM
Asset class
Stocks
Holdings
—
Top-10 weight
40%
Largest holding
NVDA8.4%

Geography

  • United States97.77%
  • Ireland1.16%
  • United Kingdom0.36%
  • Switzerland0.28%
  • Singapore0.27%
  • Netherlands0.08%
  • Bermuda0.06%
  • Canada0.01%
The fund’s holdings, weight-ordered — page 1 of 34.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001NVDANVIDIA Corp8.37%42,632$9M828
002AAPLApple Inc7.71%25,969$9M707
003MSFTMicrosoft Corp5.71%13,085$6M792
004AMZNAmazon.com Inc3.88%17,297$4M720
005GOOGLAlphabet Inc3.19%10,320$4M704
006AVGOBroadcom Inc2.61%8,276$3M732
007GOOGAlphabet Inc2.53%8,305$3M471
008METAMeta Platforms Inc2.22%3,777$3M683
009MUMicron Technology Inc1.72%1,916$2M655
010Cash&OtherCash & Other1.63%1,851,200$2M50
011TSLATesla Inc1.57%4,870$2M509
012JPMJPMORGAN CHASE & CO.1.45%4,706$2M478
013BRK/BBerkshire Hathaway Inc1.45%3,224$2M5
014LLYEli Lilly & Co1.41%1,380$2M569
015AMDAdvanced Micro Devices Inc1.38%2,782$2M618

Showing 1–15 of 505 holdings

XSPI Performance

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

XSPI$10,619
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. XSPI $10,619. SPY $10,415. Use the arrow keys to read each point.$9,699$10,198$10,697Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – 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 XSPI. Periods over one year show the average yearly return.
PeriodXSPI
Year to dateFund launched this year—
1 month+2.0%
3 months+6.2%
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 XSPI
YearReturn barXSPI
2026 YTD+13.6%

History from Feb 3, 2026

XSPI in the news

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

XSPI 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
$0.70 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution data unavailable.

Distribution history

2026

One bar per payment. 8 payments in 2026 YTD. Feb 4, 2026 $0.70; Mar 4, 2026 $0.68; Apr 8, 2026 $0.64; May 6, 2026 $0.68; Jun 3, 2026 $0.71; Jul 8, 2026 $0.70; Aug 5, 2026 $0.70; Sep 2, 2026 $0.70. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Sep 2, 2026Sep 4, 2026$0.70
Aug 5, 2026Aug 7, 2026$0.70
Jul 8, 2026Jul 10, 2026$0.70
Jun 3, 2026Jun 5, 2026$0.71
May 6, 2026May 8, 2026$0.68
Apr 8, 2026Apr 10, 2026$0.64
Mar 4, 2026Mar 6, 2026$0.68
Feb 4, 2026Feb 6, 2026$0.70

XSPI Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Feb 2026; 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 Feb 2026; 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 Feb 2026; 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.
1.07
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.

XSPI Cost

Expense ratio0.98%
  • The middle half of S&P 500 Option Income funds
  • Median 0.60%

45 of the 51 S&P 500 Option Income funds charge less.

XSPI costs $98.00 a year on $10,000. The median S&P 500 Option Income fund costs $60.00.