IDUB vs NIHI

IDUBBAptus International Enhanced Yield ETF

NIHIBNEOS MSCI EAFE High Income ETF

In short

IDUB Income-overlay funds usually stop at the U.S. border. IDUB goes the other way: an actively managed developed-plus-emerging-markets stock sleeve with a growth and momentum tilt, built to out-yield MSCI AC World ex USA, for 0.44% a year.

NIHI Developed-market international equity with the income engine bolted on: NIHI holds MSCI EAFE exposure and sells index calls for high monthly income, structured for 60/40 tax treatment. 0.68% net of a waiver through May 1, 2027.

Stated mandate

IDUB The Fund seeks capital appreciation together with current income.

NIHI The Fund seeks high monthly income in a tax-efficient manner while retaining potential for equity appreciation. It invests in ETFs or stocks tracking the MSCI EAFE Investable Market Index and primarily writes call options on that index.

Why people hold it

• IDUB Rare address for an income-overlay fund: developed and emerging market stocks, with the income goal set against MSCI AC World Index ex USA instead of a U.S. benchmark.
• Charges 0.44% a year, well under the typical fee in its options-income peer group.
• Actively managed with an advertised growth and momentum screen, so the stock side is a selection decision, not a market-cap copy of the index it's measured against.
• Pairs capital appreciation with current income in one mandate, and lands among the stronger implementations in its options-income cohort.

• NIHI 0.68% net of a waiver through May 1, 2027 (0.75% gross), below the median for options-income funds. EFAA, at 0.39% net of a waiver through August 31, 2027, goes lower.
• The index calls are Section 1256 contracts: gains count 60% long-term and 40% short-term no matter the holding period, and managers may harvest losses against gains.neosfunds.comsec.gov
• Not a pure premium harvester. The adviser can run a net-credit call spread, buying further out-of-the-money calls, to keep some participation when the index climbs.neosfunds.comsec.gov
• Developed-market stocks tracked through the MSCI EAFE Investable Market Index, with the option income paid out monthly.

Worth knowing

• IDUB Income is defined relative to the benchmark's yield, not a fixed payout, so the quarterly distribution moves around and can include return of capital.
• Trades thinly next to the headline U.S. income ETFs, which can mean wider spreads on busy days.
• Going abroad adds currency moves and emerging market country risk that a U.S.-only income fund doesn't carry.

• NIHI Selling calls trades away gains above the strikes: when the index rallies past them, those short calls lose and limit how much of the climb the fund keeps.neosfunds.com
• Monthly payouts vary and can include return of capital, which hands back part of your own investment and lowers your cost basis.neosfunds.com
• Launched in September 2025, so the track record is short, and it trades lightly next to the category's giants.

Full IDUB profile⁠

Full NIHI profile⁠