Key stats
About NEOS S&P 500 High Income ETF
Expense ratio
0.68%
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Inception date
Aug 30, 2022
SPYI holds the individual stocks of the S&P 500 Index (SPX) combined with a call spread strategy. The fund seeks to generate high monthly income through dividends from stocks and premiums from SPX call options. Using a call spread approach, the fund expects to generate a net credit through the sale of call options costing more than long out-of-the-money call options. The fund aims to take advantage of index option futures contracts, that have lower 60/40 tax rates than listed options. Any futures contracts held at year-end are treated as if sold at fair market value on the last business day of the tax year. 60% of capital gains or losses are taxed at the lower long-term capital gains rate and 40% at the ordinary tax rate. Although the fund typically uses a replication strategy, the fund is actively managed. As such, the fund adviser may actively trade call options prior to expiration to manage tax loss harvesting opportunities.
Classification
What's in the fund
Exposure type
Electronic Technology
Technology Services
Finance
Stock breakdown by region
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