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
SPYI 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 September 25, 2026 close, refreshed after every trading day.
Over the past year, SPY returned +18.48% with dividends reinvested, compared with +16.64% for SPYI. SPYI currently yields 11.82% (trailing 12-month) against 0.98% 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 | $53.65 | $771.35 |
| Dividend yield | 11.82% (TTM) | 0.98% (TTM) |
| Expense ratio | 0.68% | 0.09% |
| Pays | monthly | quarterly |
| Dividends, last 12 months | $6.34 (12 payments) | $7.58 (4 payments) |
| Issuer | NEOS Investments | SPDR |
| Inception | Aug 31, 2022 | Jan 23, 1993 |
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 · Sep 25, 2025 – Sep 25, 2026
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.
Recent dividend payments
The latest 12 distributions per share for each fund, newest first.
| SPYI | SPY | ||
|---|---|---|---|
| Sep 16, 2026 | $0.534 | Sep 18, 2026 | $1.89 |
| Aug 19, 2026 | $0.542 | Jun 18, 2026 | $1.90 |
| Jul 22, 2026 | $0.530 | Mar 20, 2026 | $1.80 |
| Jun 16, 2026 | $0.531 | Dec 19, 2025 | $1.99 |
| May 20, 2026 | $0.535 | Sep 19, 2025 | $1.83 |
| Apr 22, 2026 | $0.525 | Jun 20, 2025 | $1.76 |
| Mar 18, 2026 | $0.510 | Mar 21, 2025 | $1.70 |
| Feb 18, 2026 | $0.522 | Dec 20, 2024 | $1.97 |
| Jan 21, 2026 | $0.531 | Sep 20, 2024 | $1.75 |
| Dec 24, 2025 | $0.532 | Jun 21, 2024 | $1.76 |
| Nov 26, 2025 | $0.522 | Mar 15, 2024 | $1.60 |
| Oct 22, 2025 | $0.527 | Dec 15, 2023 | $1.91 |
SPYI vs SPY: common questions
Which pays a higher dividend, SPYI or SPY?
As of September 25, 2026, SPYI yields 11.82% (trailing 12-month) and SPY yields 0.98% (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 +16.64% and SPY returned +18.48%. 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 September 25, 2026 would have grown to about $11,664 in SPYI and $11,848 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.
Related comparisons
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Figures come from end-of-day prices and distributions and are recalculated after every trading session; see our methodology. This page is for education only and is not investment advice. Past performance does not guarantee future results. Read the full disclosure.