HYBI vs SCYB: Grades, Fees and Holdings Compared

NEOS Enhanced Income Credit Select ETF

HYBICNasdaq

Schwab High Yield Bond ETF

SCYBANYSE Arca

Overlap

0.0%by weight

Expense ratio

SCYB −0.65pt a year

HYBI0.68%SCYB0.03%

Avg volume · 30D

SCYB 39.7×the volume

HYBI27.9KSCYB1.1M

HYBI vs SCYB Performance

Oct 31, 2025 – Oct 30, 2026

+3.3%HYBI+2.0%SCYB

Expense ratio: HYBI 0.68%; SCYB 0.03%, better
Fund size: HYBI $216M; SCYB $2.8B
1Y total return: HYBI +3.3%, better; SCYB +2.0%
Yield (12M): HYBI 8.32%, better; SCYB 7.14%
Holdings: HYBI 6; SCYB 1844
Avg volume (30D): HYBI 27.9K sh; SCYB 1.1M sh, better
NAV per share: HYBI $47.99; SCYB $25.22
52W range

ETF.net Grade

Pillar letters and Scores for HYBI, SCYB, with each pillar’s weight
Pillar	HYBI	SCYB
Cost30% weight	F12	A100Higher
Mission25% weight	A80	A100Higher
Risk15% weight	A71Higher	B59
Tradability15% weight	B68	A88Higher
Holdings10% weight	F22	A99Higher
Durability5% weight	C52	B68Higher

Rank among US High Yield funds

How we build Categories ›

Same Category. HYBI and SCYB are both graded against the same 84 US High Yield funds, so their Grades compare head to head.

US High Yield⁠

Category · 84 funds

See all 84 ›

SCYB ranks 1st and HYBI 58th of 84 funds in the US High Yield Category.

Rank 1ASCYBSchwab High Yield Bond ETFScore 90
Rank 1ASPHYState Street SPDR Portfolio High Yield Bond ETFScore 90
Rank 57CAOHYAngel Oak High Yield Opportunities ETFScore 50
Rank 58CHYBINEOS Enhanced Income Credit Select ETFScore 49
Rank 58CIQHINYLI MacKay High Income ETFScore 49

Our read on each fund

ETF.net Research

HYBICNEOS Enhanced Income Credit Select ETF

SCYBASchwab High Yield Bond ETF

In short

HYBI High-yield bond fund with an equity-options engine bolted on: HYBI owns credit through other bond ETFs, then sells S&P 500 index put spreads for extra monthly income taxed under the 60/40 rules for 1256 contracts.

SCYB Three basis points for the broad US high-yield corporate market. Schwab undercuts a category where the typical fund charges more than ten times as much, spreading the bet across roughly 1,800 bonds and paying monthly.

Stated mandate

HYBI The Fund seeks total return from income and capital appreciation while providing tax-efficient monthly income.

SCYB The fund follows a rules-based strategy intended to track the high-yield bond market, primarily through bonds in the Bloomberg Barclays US Corporate High Yield Total Return Index and similar derivatives.

Why people hold it

HYBI Two income taps: coupons from a model-driven blend of high-yield and investment-grade bond ETFs, plus premium from a put-spread overlay on the S&P 500. Paid monthly.neosfunds.com
SPX options are section 1256 contracts, taxed 60% long-term and 40% short-term no matter the holding period. That tax wrapper is the whole point of the NEOS design.neosfunds.com neosfunds.com 2
Genuinely active: a proprietary model shifts the mix between high-yield and investment-grade sleeves, and managers can harvest losses in the options book.neosfunds.com

SCYB 0.03% a year against a category median of 0.40%. Even the cheap rivals sit above it: SPHY at 0.05%, USHY at 0.08%.
Tracks the same Bloomberg US Corporate High Yield index as BKHY, which charges 0.22%. Same map, cheaper toll.
Roughly 1,800 bonds, so no single issuer's blowup drives the outcome. Rules-based and passive, and it has hugged its index closely.
A multi-billion-dollar fund that trades actively and pays monthly, which matters in a corner of the market where getting out cheaply is half the job.

Worth knowing

HYBI 0.68% net of a waiver through May 1, 2027 (0.72% gross), above the category median. Index-only peers like SCYB (0.03%) and USHY (0.08%) charge a sliver of that.
The put overlay puts equity risk inside a bond fund: a sharp S&P 500 drop can cost the seller. NEOS says the overlay aims to track the risk profile of the bond sleeve.neosfunds.com
Monthly payouts can include return of capital, your own money coming back and trimming NAV. The fund also trades lightly next to the category's index giants.

SCYB High yield means below-investment-grade credit. These bonds behave more like stocks than Treasuries when the economy sours, and the extra income is the payment for that risk.
Launched in 2023, so it has a shorter record than rivals that have traded through more credit cycles.
The strategy can hold derivatives alongside the bonds themselves to track the index, one layer beyond plain bond ownership.

Full HYBI profile⁠

Full SCYB profile⁠

HYBI vs SCYB Holdings

How HYBI and SCYB differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of HYBI and 0.0% of SCYB.

Level by level

Asset classFixed Income, Equity0.0%
Holdings0 in both0.0%
Sector11 Sectors12.1%
Countryby domicile85.9%

Sector

Sector weights in HYBI and SCYB, widest gap first
Sector	More in HYBIMore in SCYB	HYBI	SCYB
Financials	SCYB +87.9 points	12.1%	100.0%
Technology	HYBI +38.7 points	38.7%	0.0%
Communication	HYBI +9.5 points	9.5%	0.0%
Consumer Discretionary	HYBI +9.3 points	9.3%	0.0%
Health Care	HYBI +9.3 points	9.3%	0.0%
Industrials	HYBI +7.8 points	7.8%	0.0%
Consumer Staples	HYBI +4.5 points	4.5%	0.0%
Energy	HYBI +3.5 points	3.5%	0.0%
Utilities	HYBI +2.0 points	2.0%	0.0%
Real Estate	HYBI +1.8 points	1.8%	0.0%
Materials	HYBI +1.7 points	1.7%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in HYBI and SCYB, widest gap first
Country	More in HYBIMore in SCYB	HYBI	SCYB
United States	HYBI +14.1 points	100.0%	85.9%
Canada	SCYB +4.1 points	0.0%	4.1%
United Kingdom	SCYB +1.7 points	0.0%	1.7%
Japan	SCYB +1.3 points	0.0%	1.3%
Cayman Islands	SCYB +1.2 points	0.0%	1.2%
Luxembourg	SCYB +1.1 points	0.0%	1.1%
France	SCYB +1.1 points	0.0%	1.1%
Bermuda	SCYB +1.1 points	0.0%	1.1%
Other countries (11)	SCYB +2.5 points	0.0%	2.5%

Concentration

Weight in the 10 largest Holdings

HYBI100.3%
SCYB3.7%

Securities held

HYBI6
SCYB1,843

Asset class

HYBI: Fixed Income
SCYB: Equity

Holdings

Only in HYBI6
In both0
Only in SCYB1,843

Only in HYBI

6 securities, 100% of HYBI by weight

United States Treasury Bill 12/01/202671.23%
State Street SPDR Portfolio High Yield Bond Index ETF24.86%
Cash & Other4.08%
Spxw Us 11/12/26 P70000.04%
Spxw Us 11/12/26 P69500.04%
Spxw Us 11/12/26 P68500.03%

Only in SCYB

1,843 securities, 99.9% of SCYB by weight

Ssc Government Mm Gvmxx1.02%
1261229 B.c. Ltd. 10.00% 04/15/2032 (BBG01SXN7B44)0.45%
Meridian Arc Holdco Llc 6.25% 04/30/2031 (BBG021N2KYD4)0.34%
Softbank Group Corp 9.75% 04/01/2034 (BBG025B5VM54)0.31%
Softbank Group Corp 9.25% 04/01/2032 (BBG025B7PLB2)0.31%
Picard Midco Inc 6.50% 03/31/2029 (BBG019LX2T70)0.27%
Pr Rno Property Owner 1 Llc 6.50% 05/01/2031 (BBG021YPZPP1)0.26%
Quikrete Holdings Inc 6.38% 03/01/2032 (BBG01S19FXV3)0.26%
Cloud Software Group Inc 9.00% 09/30/2029 (BBG01G4F7QQ2)0.24%
Galaxy Digital Holdings Ltd 9.88% 08/01/2031 (BBG023X2YYQ0)0.23%
Echostar Corp 10.75% 11/30/2029 (BBG01QRKXMB0)0.23%
Nexstar Media Inc 6.50% 09/15/2033 (BBG02154SVJ2)0.23%
Venture Global Lng Inc 9.50% 02/01/2029 (BBG01JRWR409)0.22%
Sv Rno Property Owner 1 Llc 5.88% 03/01/2031 (BBG0208VTN17)0.22%
Centene Corporation 4.63% 12/15/2029 (BBG00T5K2GV4)0.22%
Asurion Llc 8.00% 12/31/2032 (BBG01YYNGVM6)0.21%
Oak Eagle Acquireco Inc 7.25% 07/01/2033 (BBG0216YVDJ1)0.21%
Core Scientific Finance I Llc 7.75% 05/15/2031 (BBG021TW11L6)0.20%
Wulf Compute Llc 7.75% 10/15/2030 (BBG01XWZ1957)0.20%
Cco Holdings Llc 5.00% 02/01/2028 (BBG00HCXTNX8)0.20%
Panther Escrow Issuer Llc 7.13% 06/01/2031 (BBG01M46NGP4)0.19%
Mozart Debt Merger Sub Inc 5.25% 10/01/2029 (BBG012QCFXV6)0.18%
Hub International Ltd 7.25% 06/15/2030 (BBG01GY3KTY6)0.18%
Carrix Inc 6.13% 08/01/2033 (BBG023NH2ZJ8)0.18%
Emerald Debt Merger Sub Llc 6.63% 12/15/2030 (BBG01GJ0S1M5)0.18%
Oak Eagle Acquireco Inc 8.75% 07/01/2034 (BBG0216YVF42)0.18%
Transdigm Inc 6.63% 03/01/2032 (BBG01LG68K26)0.18%
Skydance Corp 5.05% 03/15/2042 (BBG025PYMZH4)0.17%
Neptune Bidco Us Inc 9.29% 04/15/2029 (BBG01BCJPPT5)0.17%
Cco Holdings Llc 4.50% 05/01/2032 (BBG01016YSJ4)0.17%
Cco Holdings Llc 4.75% 03/01/2030 (BBG00Q9KZKK3)0.17%
Asurion Llc 8.38% 02/01/2034 (BBG01ZT0J7N8)0.17%
Coreweave Inc 9.75% 10/01/2031 (BBG021JWL723)0.17%
Transdigm Inc 6.38% 03/01/2029 (BBG01LG68JB9)0.17%
Mauser Packaging Solutions Holding 7.88% 04/15/2030 (BBG01YQ74FS2)0.17%
Transdigm 6.75% 01/31/2035 (BBG02534RLY1)0.16%
Transdigm Inc 6.38% 05/31/2033 (BBG01TYXN2R6)0.16%
Davita Inc 4.63% 06/01/2030 (BBG00V30XND6)0.16%
Cco Holdings Llc 4.25% 02/01/2031 (BBG00VXBDRR7)0.16%
Cco Holdings Llc 4.50% 08/15/2030 (BBG00RMHNL33)0.16%
Vodafone Group PLC 7.00% 04/04/2079 (BBG00NR6TKJ0)0.16%
Connect Finco Sarl 9.00% 09/15/2029 (BBG01PNMWYR0)0.15%
Venture Global Lng Inc 8.38% 06/01/2031 (BBG01GNYBL31)0.15%
Ukg Inc 6.88% 02/01/2031 (BBG01L81BM19)0.15%
Level 3 Financing Inc 7.00% 03/31/2034 (BBG01WHX5GT5)0.15%
Nrg Energy Inc 6.00% 01/15/2036 (BBG01XK0QB82)0.15%
Venture Global Lng Inc 9.88% 02/01/2032 (BBG01JRWR4F3)0.15%
Staples Inc 10.75% 09/01/2029 (BBG01MZLYJL3)0.15%
Aadvantage Loyalty Ip Ltd 5.75% 04/20/2029 (BBG00ZKWV8L4)0.15%
1011778 Bc Unlimited Liability Co 4.00% 10/15/2030 (BBG00XDH1DV1)0.15%

Weight gaps

HYBI and SCYB share no securities.

All HYBI holdings⁠All 1,844 SCYB holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

HYBI vs SCYB Cost

Overpaying HYBI vs SCYB

$12,614

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

HYBI 0.68%
$13,252
SCYB 0.03%
$638

Amount$10,000

Years30 years

Cost over time

HYBI 0.68%
SCYB 0.03%
Overpaying

Year by year

Year	HYBI	SCYB	Overpaying
10	$1,215	$55	$1,160
20	$4,633	$216	$4,417
30	$13,252	$638	$12,614

Expense ratio

0.68%HYBI
0.03%SCYB, cheaper

SCYB0.03%HYBI0.68%

0.03%1.24%

Middle half of US High Yield funds
Median 0.42%

SCYB cheapest of 84 funds

HYBI 75th cheapest of 84 funds

HYBI vs SCYB Dividends

Last 12 months to Oct 30, 2026

Yield (12M): HYBI 8.32%, better; SCYB 7.14%
Payout (12M): HYBI $3.99; SCYB $1.80
Last payment: HYBI $0.32; SCYB $0.16
Ex-dividend: HYBI Oct 14, 2026; SCYB Oct 1, 2026
Paid on: HYBI Oct 16, 2026; SCYB Oct 7, 2026
Frequency: HYBI Monthly; SCYB Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

HYBIMonthly · 25 paymentsAll HYBI payments⁠

SCYBMonthly · 38 paymentsAll SCYB payments⁠

HYBI vs SCYB Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: HYBI 3.3%since Oct 2024SCYB 4.6%
Return per unit of riskSharpe ratio, 3 years: HYBI −0.01since Oct 2024SCYB 0.82
Worst fallMax drawdown, 5 years: HYBI −4.7%since Sep 2024SCYB −4.9%since Jul 2023
Market sensitivityBeta, 5 years: HYBI 0.20SCYB 0.28; Market = 1

HYBI and SCYB in the news

All news⁠

First-Year Review
Nuveen's high-yield ETF turns one at $1.77 billion. Coupons delivered 3.7%
Sep 23, 2026SCYB

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HYBI vs SCYB

In short

Stated mandate

Why people hold it

Worth knowing

How HYBI and SCYB differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in HYBI

Only in SCYB

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Nuveen's high-yield ETF turns one at $1.77 billion. Coupons delivered 3.7%

How HYBI and SCYB differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in HYBI

Only in SCYB

Weight gaps