QYLD vs SPYI: Performance, Holdings, Fees & Risk
QYLD and SPYI are ETFs, but they can differ materially in exposure, yield, fees and risk. QYLD is Global X - Nasdaq 100 Covered Call ETF, while SPYI is Neos S&P 500(R) High Income ETF. SPYI is broader by holdings count, with 508 positions versus 104 for QYLD. QYLD is more concentrated at the top, based on top-10 holdings weight. Current AlgovestIQ evidence has SPYI ahead on AIQ Score, 60 versus 47.
What is the main difference between QYLD and SPYI?
SPYI holds 508 positions to QYLD's 104, and 54% of their weight is in the same securities.
| Metric | QYLD | SPYI |
|---|---|---|
| Fund | ||
| Expense ratio | 0.6% | 0.68% |
| Holdings | 104 | 508 |
| Top-10 concentration | 46.7% | 38% |
| Distribution yieldTrailing 12 months | 11.71% | 11.81% |
| Average volume | 4,359,233 | 2,718,949 |
| Performance | ||
| 1Y return | +6.3% | +3.4% |
| YTD return | +3.5% | +2.2% |
| Risk | ||
| Annualized volatility | 11.7% | 11.1% |
| Max drawdown (1Y) | -7% | -10.1% |
| Beta | 0.73 | 0.82 |
| Sharpe ratio | 0.21 | -0.04 |
| Sortino ratio | 0.26 | -0.06 |
| AlgovestIQ | ||
| AIQ Score | 47/100 | 60/100 |
| AIQ Edge Score | 3/10 | 8/10 |
| Momentum | 34/100 | 69/100 |
| Risk Resilience | 73/100 | 81/100 |
AlgovestIQ AIQ Comparison
Global X - Nasdaq 100 Covered Call ETF vs Neos S&P 500(R) High Income ETF
SPYI leads
SPYI leads by 13 AIQ points, primarily on Momentum and Value, having only recently taken the lead back from QYLD.
Fragile: 3 of 4 evidence groups support SPYI, the lead recently changed hands, and its current signal state is conflicted.
Global X - Nasdaq 100 Covered Call ETF
Neos S&P 500(R) High Income ETF
The Algovestiq AIQ Score currently favors SPYI over QYLD, 60 versus 47 as of Oct 21, 2026. SPYI's advantage is driven primarily by stronger momentum and value. SPYI also shows the weaker technical structure relative to its 50-day moving average. 3 of 4 covered evidence groups favor SPYI today, and the comparison is rated Fragile on stability: the lead has already changed hands inside the comparison window. SPYI lead: Reversed — QYLD led by 3 AIQ points 30 sessions ago; SPYI now leads by 13.
Compare Global X - Nasdaq 100 Covered Call ETF and Neos S&P 500(R) High Income ETF across performance, expense ratio, dividend yield, drawdown, volatility and the Algovestiq AIQ Score.
QYLD vs SPYI: which fits what
Each row is settled by a single measure. Where the gap is too small to matter it reads Similar, and no row decides the comparison as a whole.
| If you want | QYLD | SPYI | Fits |
|---|---|---|---|
| Lower costExpense ratio | 0.6% | 0.68% | QYLD |
| Broader diversificationNumber of holdings | 104 | 508 | SPYI |
| Lower concentrationWeight of the 10 largest holdings | 46.7% | 38% | SPYI |
| Higher incomeTrailing 12-month distribution yield | 11.71% | 11.81% | Similar |
| Smaller drawdownsMax drawdown, 1 year | -7% | -10.1% | QYLD |
| Lower volatilityAnnualized volatility, 1 year | 11.7% | 11.1% | Similar |
Similar means the gap is within 0.01 percentage points of expense ratio, 25% more holdings, 3 points of top-10 weight, 0.2 points of yield, 2 points of drawdown or 1 point of volatility. Past drawdowns and volatility describe the funds’ history, not their future.
Performance over time
Total return with distributions reinvested, from daily closes for both ETFs.
Total return comparison
Growth of $10,000, distributions reinvested
Split-adjusted closes; each distribution is reinvested at the close on its ex-dividend date. Taxes and trading costs are not modeled.
Compare QYLD and SPYI against another ticker
Open a multi-ticker workspace without changing this focused pair page.
AIQ Factor Divergence
Where the two separate, on the four dimensions behind the AIQ Score. Bars read outward from a shared zero: further from the centre is a wider gap.
- Momentum34 vs 69SPYI +35
- Value30 vs 40SPYI +10
- Risk Resilience73 vs 81SPYI +8
- Quality63 vs 62Even
3 of 4 evidence groups favor SPYI. SPYI’s edge is concentrated in momentum and value.
What changed since the last close
Latest scored session 2026-10-20, compared against the prior scored session 2026-10-19.
No factor moved materially.
No signal started or stopped since the prior session; its 7 active signals are unchanged.
Largest factor move: Momentum +17
New signals
- Uptrend Structure Active — bullish, trend, long horizon
SPYI's lead widened by 4 AIQ points in the latest session.
Deeper signal detail for each name lives on its own signals page — QYLD and SPYI both carry a full feed there.
Fund facts, side by side
Two funds tracking overlapping universes are separated by cost and risk far more than by holdings. Those lead here.
| Measure | QYLD | SPYI | Why it matters |
|---|---|---|---|
| Expense ratio | 0.6% | 0.68% | Lower is better — it compounds against you every year you hold. |
| Holdings | 104 | 508 | More holdings means broader diversification, not better returns. |
| Average volume | 4,359,233 | 2,718,949 | Liquidity — matters most if you trade size. |
| Annualized volatility | 11.7% | 11.1% | Lower is a steadier ride for the same exposure. |
| Max drawdown (1Y) | -7% | -10.1% | The worst peak-to-trough loss over the past year. |
| Sharpe ratio | 0.21 | -0.04 | Return per unit of risk. Higher is better. |
| Beta | 0.73 | 0.82 | Sensitivity to the broad market. Neither direction is better — it depends on the role in your portfolio. |
Where the exposure actually sits
Sector exposure for each fund, ordered by the size of the difference.
How much of the same holdings they own
QYLD and SPYI share 53.85% of their weighted exposure across 86 common holdings.
15 holdings are unique to QYLD, and 421 holdings are unique to SPYI. Owning both is a partial overlap: a majority of the capital is distinct, but the largest positions are shared.
QYLD is the more concentrated of the two: its ten largest positions are 46.72% of the fund, against 37.98% for SPYI (104 holdings vs 508). Concentration cuts both ways — it is what drives outperformance when the top names work, and what makes the drawdown deeper when they do not.
Largest shared positions
| Holding | QYLD | SPYI | Shared |
|---|---|---|---|
| NVDANVIDIA CORP | 8.36% | 8.02% | 8.02% |
| AAPLAPPLE INC | 7.72% | 7.27% | 7.27% |
| MSFTMICROSOFT CORP | 5.83% | 5.57% | 5.57% |
| AMZNAMAZON.COM INC | 4.37% | 3.81% | 3.81% |
| GOOGLALPHABET INC-CL A | 3.12% | 2.96% | 2.96% |
| AVGOBROADCOM INC | 2.72% | 2.6% | 2.6% |
| GOOGALPHABET INC-CL C | 2.9% | 2.41% | 2.41% |
| METAMETA PLATFORMS INC | 3.04% | 2.14% | 2.14% |
Shared weight is the lower of the two positions — the portion of capital both funds genuinely have in the same security.
What QYLD adds that SPYI doesn’t
| Holding | QYLD | SPYI |
|---|---|---|
| MUMICRON TECHNOLOGY INC | 4.81% | 1.65% |
| AMDADVANCED MICRO DEVICES | 3.68% | 1.28% |
| WMTWALMART INC | 2.29% | 0.71% |
| INTCINTEL CORP | 2.26% | 0.76% |
| CSCOCISCO SYSTEMS INC | 1.93% | 0.68% |
| COSTCOSTCO WHOLESALE CORP | 1.75% | 0.61% |
What SPYI adds that QYLD doesn’t
| Holding | SPYI | QYLD |
|---|---|---|
| JPMJPMORGAN CHASE & CO. | 1.42% | Not held |
| BRK/BBerkshire Hathaway Inc | 1.41% | Not held |
| LLYEli Lilly & Co | 1.35% | Not held |
| XOMExxonMobil Holdings Corp | 1.03% | Not held |
| JNJJohnson & Johnson | 0.96% | Not held |
| VVisa Inc | 0.92% | Not held |
Each list is a fund’s largest positions by weight that the other fund does not hold, or holds at less than half the weight.
QYLD vs SPYI: five-year payout growth
QYLD grew its split-adjusted payout at -4.33% a year over 2020-2025. SPYI began paying distributions in 2022, so it has no 2020-2025 growth rate to compare.
| Dividend metric | QYLD | SPYI |
|---|---|---|
| 2025 annual payout | $2.041 | $6.146 |
| Peer rank | #3 of 3 | not ranked |
Split-adjusted annual distributions, 2020–2025. Research as of Sep 19, 2026. Yield and expense ratio above are current values, not part of this window.
AIQ Agreement Matrix
3 of 4 covered evidence groups favor SPYI. A wide gap backed by one group is a weaker case than a narrow gap backed by five.
| Evidence group | Favors | Reading |
|---|---|---|
| AIQ Score | SPYI | 47 vs 60 |
| Fundamentals | Not covered | Not covered |
| Valuation | SPYI | Value 30 vs 40 |
| Technicals | Even | Price vs 50-day -0.1% vs -0.4%; vs 200-day 1.9% vs 1.9% |
| Risk Resilience | SPYI | Risk Resilience 73 vs 81 |
| Analyst expectations | Not covered | Not covered |
✓ agrees with the overall verdict · ✕ points the other way. Groups marked “not covered” lack data on one or both of QYLD and SPYI and are excluded from the count.
AIQ Decision Stability
The conclusion is sensitive to small changes. Treat the lead as provisional and watch the flip conditions below.
- The AIQ gap is wide at 13 points. (supports the conclusion holding)
- The lead has already changed hands inside the comparison window. (argues the conclusion is provisional)
- The leader is throwing conflicting signals. (argues the conclusion is provisional)
Stability combines the score gap, how broadly the evidence agrees, how steady the lead has been across daily snapshots, the current signal state on both names, and analyst dispersion on SPYI.
How the comparison changed
45 daily snapshots · Sep 6 – Oct 20SPYI lead: Reversed — QYLD led by 3 AIQ points 30 sessions ago; SPYI now leads by 13.
- Today
- SPYI +13
- 47 vs 60
- 7 sessions ago
- Level
- 59 vs 59
- 30 sessions ago
- QYLD +3
- 57 vs 54
- 90 sessions ago
- Not covered
The lead changed hands 4 times in this window, most recently on Oct 14 when QYLD moved ahead of SPYI.
AIQ Signal Divergence
Only the signals that bear on the head-to-head. A conflicted name is carrying bullish and bearish rules at the same time — the technical evidence is not pointing one way.
4 bullish / 2 bearish / 1 neutral, conflicted
Only QYLD
- BB Lower Band Breach — bullish, volatility, short horizon
- Keltner Channel Breakdown — bearish, volatility, short horizon
4 bullish / 1 bearish / 2 neutral, conflicted
Only SPYI
- Bollinger Band Squeeze — neutral, volatility, short horizon
- Uptrend Structure Active — bullish, trend, long horizon
Both carry 5 more signals that do not separate them: Golden Cross Active, ATR Contraction - Coiling, EMA Ribbon Expansion Bullish, 52-Week High Proximity, MACD Bearish Crossover.
SPYI leads the comparison while carrying a conflicted signal state, which is one reason the stability rating is not higher.
Price vs model alignment
Whether the latest session's price move confirms what the model did over the same session, or contradicts it.
Neither the price nor the AIQ Score moved enough in the latest session to confirm or contradict the other (price +0.55%, AIQ 0 points).
Price is down while the AIQ Score moved up 4 points over the same session — price and model disagree (price -0.54%, AIQ +4 points).
What would flip this result
A state, not a forecast. These are the specific, observable changes that would reverse the verdict — not a price prediction.
- 1QYLD closes the Momentum gap — currently 35 points behind, the largest single contributor to SPYI's edge.
- 2QYLD's Keltner Channel Breakdown resolves — a bearish volatility rule currently active against it.
- 3SPYI's conflicting signal state resolves bearish — it currently carries 4 bullish and 1 bearish rules at once.
- 4A regime shift changes factor weighting — Quality and Value carry the heaviest weights in the composite, so a rotation toward either would move the result most.
The full evidence
Every number behind the verdict. The leader is called above each group so you are not left to solve it from the table.
Performance
QYLD leads 4 of 6 windows| Metric | QYLD | SPYI |
|---|---|---|
| 1 week (5 sessions) | -2.2% | -0.8% |
| 1 month (20 sessions) | -1.5% | 0% |
| 3 months (63 sessions) | 2.7% | 1.6% |
| 6 months (126 sessions) | 3.6% | 2.7% |
| Year to date | 3.5% | 2.2% |
| 1 year (252 sessions) | 6.3% | 3.4% |
Technicals
Split| Metric | QYLD | SPYI |
|---|---|---|
| RSI (14) | 32.5 | 59.5 |
| ADX (14) | 19.1 | 14.2 |
| Price vs 50-day | -0.1% | -0.4% |
| Price vs 200-day | 1.9% | 1.9% |
| Volatility (1M, annualized) | 8.5% | 7% |
Risk
SPYI is the more resilient| Metric | QYLD | SPYI |
|---|---|---|
| Beta | 0.73 | 0.82 |
| Sharpe ratio | 0.21 | -0.04 |
| Sortino ratio | 0.26 | -0.06 |
| Max drawdown | -7% | -10.1% |
| Current drawdown | -2.5% | -1.3% |
| Annualized volatility | 11.7% | 11.1% |
| Value at risk (95%) | -1.4% | -1.3% |
Straight answers
Short answers to the questions fund investors ask about this pair, from the figures above.
What is the difference between QYLD and SPYI?
SPYI holds 508 positions to QYLD's 104, and 54% of their weight is in the same securities.
How much do QYLD and SPYI overlap?
QYLD and SPYI share 53.85% of their weighted exposure across 86 common holdings. 15 holdings are unique to QYLD, and 421 holdings are unique to SPYI. Owning both is a partial overlap: a majority of the capital is distinct, but the largest positions are shared.
Which ETF is more diversified, QYLD or SPYI?
SPYI holds more positions: 508 versus 104 for QYLD.
Which has the lower expense ratio?
QYLD has the lower expense ratio, 0.6% a year against 0.68% for SPYI.
Which ETF has the higher distribution yield?
Their trailing 12-month distribution yields are similar: 11.71% for QYLD and 11.81% for SPYI.
Which ETF has been more volatile?
Their volatility over the past year is similar: 11.7% annualized for QYLD and 11.1% for SPYI.
Which ETF has had the smaller drawdown?
QYLD fell less from peak to trough over the past year: -7% against -10.1% for SPYI.
Compare QYLD and SPYI with others
Continue your research
This page answers which of the two. These answer the questions on either side of it.
How this comparison is scored
The Algovestiq AIQ Score composites four factors — Quality, Value, Momentum and Risk, each carrying a fixed weight. Sentiment is reported separately as SentimentPulse and is not folded into the composite. Scores refresh every trading day, and this page regenerates from the latest snapshot rather than being written once.
The verdict names a leader, states how broadly six independent evidence groups agree, and rates how durable that conclusion is given the score gap, its recent trajectory and the current signal state on both names.
How to use side-by-side comparison →This comparison is informational and educational, not investment advice. AIQ scores update daily; re-check after earnings, guidance or macro data that materially changes either name’s factor profile.