ETF COMPARISON · HIGH INCOME
SPYI vs QQQI: S&P 500 Income vs Nasdaq-100 Income
SPYI and QQQI use similar high-income option frameworks from NEOS, but they begin with different equity universes: the S&P 500 for SPYI and the Nasdaq-100 for QQQI.
Data verified September 29, 2026 · Educational comparison
Side-by-Side
| Feature | SPYI | QQQI |
|---|---|---|
| Primary equity exposure | S&P 500 | Nasdaq-100 |
| Management fee | 0.68% | 0.68% |
| Distribution frequency | Monthly | Monthly |
| Distribution rate | 12.15% (Aug. 31, 2026) | 14.39% (Aug. 31, 2026) |
| 30-day SEC yield | 0.46% (Aug. 31, 2026) | -0.05% (Aug. 31, 2026) |
| Inception | Aug. 29, 2022 | Jan. 29, 2024 |
The Core Difference Is the Equity Index
SPYI begins with broad large-cap U.S. exposure through the S&P 500, while QQQI starts from the Nasdaq-100. That means QQQI carries a stronger growth and technology tilt, while SPYI begins from a broader sector mix.
The Options Framework Is Similar
Both funds use actively managed index-option overlays that can include sold and purchased calls. In both cases, the objective is to generate monthly income while preserving some equity upside.
Distribution Rate Is Not Total Return
QQQI’s higher stated distribution rate does not by itself mean higher investment return. Distribution rates can include option premium, dividends, gains, interest and return of capital, so NAV and total return remain essential context.
Risk Profile
Both remain equity funds with options overlays. SPYI’s broader S&P 500 base may produce a different sector and volatility profile from QQQI’s Nasdaq-100 base, but neither structure eliminates drawdown risk.
SPYI Research Focus
- S&P 500 equity base
- 0.68% management fee
- Monthly distributions
- Index-option overlay
- Return-of-capital context
QQQI Research Focus
- Nasdaq-100 equity base
- 0.68% management fee
- Higher stated distribution rate
- NDX option overlay
- Growth/technology concentration