SPYI vs SPY: Dividend Yield, Total Return & Fees Compared
NEOS S&P 500 High IncomeSPDR S&P 500 ETF Trust
Data as of the close · refreshed automatically every trading day
Performance: SPYI vs SPY
Total return assumes every distribution is reinvested. Switch to price return to see the change in share price alone.
Total Return (%) · dividends reinvested · Nov 7, 2025 – Nov 9, 2026
DividendDuel.comSPYI vs SPY at a glance
NEOS S&P 500 High Income (SPYI) and SPDR S&P 500 ETF Trust (SPY) are compared below using data through the November 9, 2026 close, refreshed after every trading day.
Over the past year, SPY returned +13.39% with dividends reinvested, compared with +13.07% for SPYI. SPYI currently yields 12.08% (trailing 12-month) against 1.01% for SPY.
The higher-yielding fund (SPYI) has trailed on 1-year total return. Yield only measures the income a fund pays; total return also counts the change in share price, so it is the fuller basis for comparing the two.
| Metric | SPYI | SPY |
|---|---|---|
| Last close | $52.33 | $752.69 |
| Dividend yield | 12.08% (TTM) | 1.01% (TTM) |
| Expense ratio | 0.68% | 0.09% |
| Pays | monthly | quarterly |
| Dividends, last 12 months | $6.32 (12 payments) | $7.58 (4 payments) |
| Issuer | NEOS Investments | SPDR |
| Inception | — | — |
Overview
Key fund stats as of the latest close.
Total returns
Price change plus dividends paid, by holding period. Best in each period is outlined.
Downside and distribution variability
Income and ending returns do not describe the whole investment experience.
Across 1,053 shared trading dates from August 30, 2022 to November 9, 2026, the largest observed peak-to-trough decline with dividends reinvested was -16.46% for SPYI and -18.76% for SPY. These figures use the same available dates for both instruments, exclude intraday moves, and are not forecasts.
SPYI's recorded distributions over the 12 months ending November 9, 2026 ranged from $0.5087 to $0.5423 per share across 12 distribution dates. A payment range includes special distributions and does not establish the amount of a future payment.
SPY's recorded distributions over the 12 months ending November 9, 2026 ranged from $1.80 to $1.99 per share across 4 distribution dates. A payment range includes special distributions and does not establish the amount of a future payment.
Fund expense ratios are annual operating costs, not a bill added to the historical returns shown here. Trading spreads, brokerage costs and personal taxes can reduce an investor's realized return.
Recent distributions
The latest 12 distributions per share, newest first. Dates are reported ex-dividend dates, not cash payment dates.
| SPYI | SPY | ||
|---|---|---|---|
| Oct 21, 2026 | $0.5087 | Sep 18, 2026 | $1.89 |
| Sep 16, 2026 | $0.5338 | Jun 18, 2026 | $1.90 |
| Aug 19, 2026 | $0.5423 | Mar 20, 2026 | $1.80 |
| Jul 22, 2026 | $0.530 | Dec 19, 2025 | $1.99 |
| Jun 16, 2026 | $0.531 | Sep 19, 2025 | $1.83 |
| May 20, 2026 | $0.5353 | Jun 20, 2025 | $1.76 |
| Apr 22, 2026 | $0.5247 | Mar 21, 2025 | $1.70 |
| Mar 18, 2026 | $0.5104 | Dec 20, 2024 | $1.97 |
| Feb 18, 2026 | $0.5219 | Sep 20, 2024 | $1.75 |
| Jan 21, 2026 | $0.5309 | Jun 21, 2024 | $1.76 |
| Dec 24, 2025 | $0.5316 | Mar 15, 2024 | $1.59 |
| Nov 26, 2025 | $0.5216 | Dec 15, 2023 | $1.91 |
SPYI vs SPY: common questions
Which pays a higher dividend, SPYI or SPY?
As of November 9, 2026, SPYI yields 12.08% (trailing 12-month) and SPY yields 1.01% (trailing 12-month), so SPYI currently pays the higher yield. A higher yield does not guarantee a higher total return.
Which has performed better, SPYI or SPY?
Over the past year with dividends reinvested, SPYI returned +13.07% and SPY returned +13.39%. Past performance does not predict future results.
What would $10,000 in SPYI vs SPY be worth after one year?
With dividends reinvested, $10,000 invested one year before November 9, 2026 would have grown to about $11,307 in SPYI and $11,339 in SPY.
Which is cheaper to own, SPYI or SPY?
SPY has the lower expense ratio at 0.09% a year, compared with 0.68% for SPYI. On $10,000 that is roughly $9 vs $68 a year.
How often do SPYI and SPY pay dividends?
SPYI pays monthly (12 payments in the last 12 months) and SPY pays quarterly (4 payments).
Is SPYI or SPY the better investment?
It depends on your goals, time horizon and tax situation. Income-focused investors often weigh yield and payment frequency, while long-term investors usually compare total return and fees. Dividend Duel is an educational tool and does not provide investment advice.
Research SPYI and SPY beyond the yield
Use the same dates to compare an income strategy with its index alternative. Look at both reinvested total return and price return before using either fund's payout rate in an income scenario.
Review NEOS S&P 500 High Income (SPYI) payment history and SPDR S&P 500 ETF Trust (SPY) payment history before choosing assumptions for the dividend reinvestment calculator. Run each scenario separately; the calculator uses your rates rather than importing these historical returns.
For a cash target, use the income goal calculator. Read our guide to comparing dividend ETFs and data and editorial approach for context on the historical figures.
Related comparisons
More side-by-side comparisons with SPYI and SPY.
Published by Delta Dividends LLC. This page is for education only and is not investment advice. Past performance does not guarantee future results. Read the full disclosure.