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Launched · SEC filings

NEOS Boosted S&P 500 High Income ETF

XSPINasdaqNeosC

$48.06−0.28 (−0.58%)

At close: Nov 2, 2026, 4:00 PM ET

C49/ 100

Rank 34 of 52 in S&P 500 Option Income

C49/100Rank 34 of 52inS&P 500 Option Income
Intraday session: down, 79 prints from 48.34 to 48.06. Range 48.02 to 48.87. Use the arrow keys to read each point.48.2048.6048.8010 AM12 PM2 PM4 PM
Expense ratio
0.98%
Fund size
$136M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
504
Avg volume · 30D
80.5K sh
52W range
low $42.70high $51.17
Launched
Filings
SEC EDGAR

The ETF.net XSPI Grade

C

Score 49 out of 100

Category
S&P 500 Option Income⁠
Rank
34 of 52
Six-pillar profile for XSPI. Scores out of 100: Cost 8, Risk 23, Mission 100, Tradability 70, Holdings 60, Durability 48. Strongest: Mission (100). Weakest: Cost (8). Leans toward Mission.

Score 49 of 100 falls in the C 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.
    F8 out of 100
    Rank 47 of 52

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A100 out of 100
    Rank 1 of 36

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    F23 out of 100
    Rank 49 of 52

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A70 out of 100
    Rank 8 of 52

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B60 out of 100
    Rank 22 of 41

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C48 out of 100
    Rank 35 of 52

Our read on XSPI

ETF.net Research

In short

CThe 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

  • The 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
  • Calls 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
  • Built 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
  • Income is designed to arrive monthly rather than quarterly, from an actively managed overlay on the 500 largest US listed companies.

Worth knowing

  • Fees 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.
  • Leverage 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
  • Launched 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 Performance

Launched Feb 2, 2026

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.Not enough history yet.Not enough history yet.
XSPI$10,224
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,141
Jul 31, 2026 to Oct 30, 2026. XSPI $10,224. SPY $10,141. Use the arrow keys to read each point.$10,000$10,200$10,400$10,600Jul 2026Sep 2026Oct 2026

Jul 31, 2026 – Oct 30, 2026

Returns run to the Oct 30, 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 yearNo data
1 month−1.1%
3 months+2.2%
1 yearFund is under 1 year oldNo data
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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+10.7%

History from Feb 3, 2026

XSPI in the news

XSPI Dividends

Last payment
$0.71 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. 9 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; Oct 7, 2026 $0.71. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Oct 7, 2026Oct 9, 2026$0.71
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

Risk pillarF23 out of 100Rank 49 of 52 in S&P 500 Option Income
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.
1.06
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.

FMP measures it over up to five years of monthly returns.

XSPI Cost

Compare XSPI and PEPS

Overpaying vs PEPS, cheapest in S&P 500 Option Income

$16,256

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • XSPI 0.98%

    $18,362

  • PEPS 0.10% Cheapest

    $2,106

$10,000
30 years

Cost over time

  • XSPI 0.98%
  • PEPS 0.10%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530XSPI $18,362PEPS $2,106

Year by year

YearXSPIPEPSOverpaying
10$1,729$183$1,546
20$6,504$717$5,787
30$18,362$2,106$16,256

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