NEOS Boosted S&P 500 High Income ETF

XSPI

Market cap $83.3M

NEOS Boosted S&P 500 High Income ETF offers 150% notional S&P 500 exposure with a high annualized distribution target of 15–18%. XSPI's strategy amplifies both upside and downside, but option writing caps gains, making it less efficient for long-term capital appreciation. Amplified downside risk and capped upside limit XSPI's appeal to income-focused investors with existing growth ETF exposure; not suitable as a core holding.

Income remains top of mind for financial advisors. But increasingly, it's not just about generating more yield.

The NEOS Boosted S&P 500 High Income ETF earns a Hold rating due to regime concerns despite structural advantages over its Nasdaq counterpart. XSPI's ~150% leveraged covered call strategy offers improved upside capture with less volatility drag, benefiting from the S&P 500's broader, less concentrated exposure. XSPI outperforms in bull markets and V-shaped recoveries but struggles in choppy or flat markets where volatility drag and expenses erode returns.

The NEOS Nasdaq-100® High Income ETF (NASDAQ:QQQI) has become one of the more crowded trades in monthly income, drawing capital with a distribution rate near 14.60% and a Section 1256 tax angle that appeals to taxable accounts.

WESTPORT, Conn.--(BUSINESS WIRE)--NEOS Investments, an asset management firm comprised of leaders and pioneers in the options-based ETF space, announces May monthly distribution amounts for their suite of ETFs that pursue monthly income and tax efficiency across core portfolio exposures. May 2026 Distribution Information, based on each ETFs Ex-Dividend Date:   Distribution Rate* Amount / Share (%) Amount / Share ($) Ex-Dividend Date 30-Day SEC Yield** Boosted Bitcoin High Income ETF (XBCI) 38.8.

With the S&P 500 up 9.84% year-to-date and seemingly hitting all-time highs on almost daily basis, it's understandable that many market participants aren't paying much attention to the index's dividend proposition — or lack thereof. The benchmark domestic equity gauge yields around 1.

Covered call ETFs offer attractive monthly yields, often exceeding 10%, appealing to income-focused investors. Most top covered call ETFs are heavily concentrated in large-cap growth, specifically S&P 500 and Nasdaq-100 exposures. This concentration introduces significant risk, as these ETFs exhibit strong performance correlations and similar downside profiles.

There's an ongoing shift in how investors access income through ETFs. No longer is sourcing income a pursuit centered solely on fixed income assets.