SPYvsSPYIETF Comparison
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SPDR S&P 500 ETF Trust (SPY) belongs to the US Large Cap segment. NEOS S&P 500 High Income ETF (SPYI) is part of the Options Strategies segment. Both ETFs have the same top 3 sector exposures: Information Technology, Communication Services and Financials. SPY is less expensive with a Total Expense Ratio (TER) of 0.0945%, versus 0.68% for SPYI. SPY is down -3.03% year-to-date (YTD) with -$30.33B in YTD flows. SPYI performs better with -1.96% YTD performance, and +$1.78B in YTD flows. Run a side-by-side ETF comparison of SPY and SPYI below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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SPY vs SPYI performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 04/07/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | SPY SPYI | -2.54%-2.26% | -4.12%-2.78% | -3.03%-1.96% | +32.21%+29.47% | +67.27%+50.30% | +73.65%n/a |
| Flows | SPY SPYI | +$2.22B+$416M | -$25.36B+$1.73B | -$30.33B+$1.78B | -$11.81B+$5.13B | +$39.16B+$8.41B | +$56.84B- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SPY SPYI | +14.40%+13.16% | +16.61%+14.66% | +14.87%+12.51% | +16.88%n/a |
| Max drawdown | SPY SPYI | -8.89%-7.69% | -8.89%-7.69% | -18.74%-16.58% | -24.50%n/a |
| Max drawdown duration | SPY SPYI | 70d41d | 70d41d | 126d125d | 708dn/a |
Trading data
SPY | SPYI | |
Last sale 4/7/2026 at 1:30 PM | $659.22 | $49.93 |
| Previous close 04/07/2026 | $658.93 | $49.93 |
| Consolidated volume 04/07/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of March 31, 2026
1-year trailing difference
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SPYI
is actively managed and doesn’t replicate an indexSPY | SPYI | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 4/7/2026 at 1:30 PM
Live
Closed
SPY | SPYI | |
|---|---|---|
| Last price | $659.22 | $49.93 |
| 1D performance | +0.04% | +0.00% |
| AuM | $659.53 B | $8.26 B |
| E/R | 0.0945% | 0.68% |
Characteristics
SPY | SPYI | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | SPDR | NEOS Investment Management |
| Benchmark | S&P 500 Index | - |
| N° of holdings | 479 | 479 |
| Asset class | Equities | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | January 22, 1993 | August 30, 2022 |
| ESG | No | No |
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Exposure
Countries
SPY
USA
96.75%
Other
3.25%
SPYI
USA
96.78%
Other
3.22%
Sectors
SPY
Information Techn.
33.46%
Communication Ser.
10.46%
Financials
10.26%
Consumer Discreti.
10.09%
Health Care
9.67%
Industrials
8.53%
Other
17.53%
SPYI
Information Techn.
33.85%
Communication Ser.
10.24%
Financials
10.23%
Consumer Discreti.
10.09%
Health Care
9.57%
Industrials
8.55%
Other
17.47%
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Diversification
SPY
Total weight of top 15 holdings out of 15
42.22%
SPYI
Total weight of top 15 holdings out of 15
42.6%
Top 15 holdings
Data as of February 28, 2026
SPY
NVIDIA
7.31%
APPLE
6.63%
MICROSOFT-T
4.96%
AMAZON.COM INC
3.47%
ALPHABET INC-CL
3.08%
BROADCOM LIMITED
2.56%
ALPHABET INC-CL
2.46%
META PLATFORMS
2.40%
TESLA
1.92%
BERKSHIRE HATHWAY
1.57%
LILLY
1.42%
JPMORGAN CHASE
1.39%
EXXON
1.09%
JOHNSON&JOHNSON
1.02%
WALMART INC
0.95%
SPYI
NVIDIA
7.88%
APPLE
6.77%
MICROSOFT-T
4.86%
AMAZON.COM INC
3.42%
ALPHABET INC-CL
3.07%
BROADCOM LIMITED
2.59%
ALPHABET INC-CL
2.45%
META PLATFORMS
2.34%
TESLA
1.94%
BERKSHIRE HATHWAY
1.52%
LILLY
1.39%
JPMORGAN CHASE
1.36%
EXXON
1.07%
JOHNSON&JOHNSON
1.00%
WALMART INC
0.94%
Frequently asked questions about SPY and SPYI
How have the SPY and SPYI ETFs performed in 2026?
As of April 7, 2026, SPY is down -3.03% year-to-date (YTD), while SPYI has lost -1.96%. That puts SPYI better performer ahead so far this year.
Which ETF is attracting more investor money: SPY or SPYI?
Year-to-date, the SPY ETF saw -$30.33B in flows, compared to +$1.78B for SPYI.
Which ETF is more volatile: SPY or SPYI?
Over the past year, SPY had a volatility of 16.61%, while SPYI experienced 14.66%.
Which ETF is bigger: SPY or SPYI?
As of April 7, 2026, SPY holds $659.53 B in assets under management (AUM), while SPYI manages $8.26 B.
What sectors do the SPY and SPYI ETFs invest in?
SPY leans toward sectors like Information Technology, Communication Services and Financials. Meanwhile, SPYI focuses on Information Technology, Communication Services and Financials.
What are the top holdings of the SPY ETF and SPYI ETF?
SPY top holdings include NVIDIA, APPLE and MICROSOFT-T. SPYI holds in its top three: NVIDIA, APPLE and MICROSOFT-T.
Which ETF is more diversified: SPY or SPYI?
SPY holds 502 securities with 42.22% of its assets in the top 15. SPYI has 502 securities and a top 15 weight of 42.6%.
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