(SPYI) SHP Trust - NEOS SP500 High - Overview

ETF Category: Derivative Income | Exchange: BATS (USA) | Market Cap: 9.946m USD | Total Return: 23.4% in 12m

Equities, Call Options, Index Derivatives
Total Rating 60
Safety 43
Buy Signal -0.41
Derivative Income
Category Rotation: +1.5
TER: 0.68%
AUM: 9.95B
Avg Turnover: 145M
Risk 3d forecast
Volatility6.45%
VaR 5th Pctl1.21%
VaR vs Median3.80%
Reward TTM
Sharpe Ratio1.80
Rel. Str. IBD54.8
Rel. Str. Peer Group43.8
Character TTM
Beta0.797
Beta Downside0.811
Hurst Exponent0.485
Drawdowns 3y
Max DD16.47%
CAGR/Max DD1.03
CAGR/Mean DD11.44

Warnings

Choppy

Tailwinds

No distinct edge detected

Description: SPYI SHP Trust - NEOS SP500 High

The NEOS S&P 500 High Income ETF (SPYI) is an actively managed fund designed to generate income through a combination of equity investments and a tiered options overlay. The fund holds a core portfolio of stocks mirroring the S&P 500 Index while simultaneously executing a data-driven call option strategy.

This strategy utilizes a call spread approach, involving the sale of call options to collect premiums and the purchase of long call options to retain a portion of the markets upside potential. Derivative income ETFs typically use Section 1256 contracts, which may offer tax efficiencies by treating capital gains as a blend of short-term and long-term rates regardless of the holding period.

By employing covered calls and spreads, the fund aims to mitigate volatility compared to a pure equity position while providing monthly distributions to shareholders. Investors can examine the underlying holdings and historical yield patterns on ValueRay to better understand the funds risk profile. The funds performance is intrinsically linked to the implied volatility and price action of the broader U.S. large-cap equity market.

Headlines to Watch Out For
  • S&P 500 price appreciation drives underlying asset value and net asset value growth
  • Implied volatility levels dictate premium income generated from written call option overlays
  • Tax-efficient distribution structures influence retail investor demand and fund inflow volumes
  • Broad equity market corrections increase downside risk despite option premium income buffers
  • Interest rate fluctuations impact the relative attractiveness of high-yield derivative income strategies
What is the price of SPYI shares?

As of May 28, 2026, the stock is trading at USD 53.65 with a total of 2,739,819 shares traded.
Over the past week, the price has changed by +1.61%, over one month by +3.66%, over three months by +6.14% and over the past year by +23.43%.

Is SPYI a buy, sell or hold?

SHP Trust - NEOS SP500 High has no consensus analysts rating.