Dividend comparison

QQQI vs ISPY: Which Is Better for Income?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for NEOS Nasdaq-100 High Income ETF and ProShares - S&P 500 High Income ETF, side by side. Updated October 21, 2026.

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QQQI vs ISPY: key differences
The short answer, from the latest data on this page.
  • Fees. ISPY is cheaper at 0.55% a year versus 0.68% for QQQI. On $10,000 that is $13 a year less in fees.
  • Income. QQQI pays more income, yielding 14.11% over the last twelve months versus 5.52% for ISPY. That is about $859 more a year on $10,000. Both pay monthly.
  • Performance. Over the last 1 year, ISPY returned 6.6% versus 0.7% for QQQI, with dividends reinvested. $10,000 would have grown to $10,661 in ISPY and $10,069 in QQQI.
  • Risk. QQQI has been the bumpier ride. Its worst peak-to-trough decline over the last 1 year was -20.0%, against -16.9% for ISPY.
  • Diversification. ISPY holds 514 positions and QQQI holds 10. The ten largest positions make up 47.0% of QQQI and 44.4% of ISPY.
  • Overlap. At least 42% of the two portfolios overlap by weight, across 36 shared holdings.
  • Size. QQQI is the larger fund with $15.1 billion in assets, against $1.2 billion for ISPY.

Bottom line: QQQI fits better if you care most about more income today. ISPY fits better if you care most about lower fees, stronger 1-year returns, smaller drawdowns and broader diversification.

Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
MetricQQQI
NEOS Nasdaq-100 High Income ETF
ISPY
ProShares - S&P 500 High Income ETF
Dividend yield (TTM)14.11%5.52%
Dividend / share (TTM)$7.64$2.65
Payout frequencyMonthlyMonthly
Last dividend$0.6339 on Sep 18, 2026$0.2523 on Oct 7, 2026
Ex-dividend dateSep 16, 2026Oct 1, 2026
Price$54.16$48.05
Beta0.930.86
Max drawdown (5Y)-20.0%-16.9%
Market cap$14.89B$1.15B
ExchangeNASDAQCBOE
Expense ratio0.68%0.55%
Assets under management$15.08B$1.16B
Number of holdings10514
Top 10 concentration47.0%44.4%
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

QQQI

$117.57/mo

$1411 /yr at 14.11% yield

ISPY

$46.00/mo

$552 /yr at 5.52% yield

Dividend history
Total dividends paid per share in each calendar year. QQQI pays monthly; ISPY pays monthly.
YearQQQIISPY
2025$7.4435$3.9051
Strategy: Options income
These funds own equities and sell call options against them, converting a share of future price appreciation into cash paid out now. How much upside is surrendered depends on the design: writing at the money on the whole portfolio pays the most and keeps the least, while writing on a partial slice or using purchased offsets keeps more of a rally. Distributions come mainly from option premium rather than from company dividends, so the headline yield is not comparable to a dividend fund's.

Payouts are variable rather than contractual, are often taxed as ordinary income, and a fund that pays out more than the strategy earns will see its net asset value drift down over time.

What QQQI vs ISPY actually do

QQQI
The Nasdaq-100 counterpart to NEOS's S&P 500 income fund, holding the index and writing NDX index options for monthly distributions.

It owns Nasdaq-100 constituents and applies the same call strategy of sold and purchased index options, sized actively rather than as a fixed full overwrite. Nasdaq-100 volatility is structurally higher, so the option premium collected is larger and the monthly distribution is bigger than the S&P 500 version. NDX options are also section 1256 contracts, so the same 60/40 tax treatment and loss-harvesting mechanics apply.

Suits someone who wants technology-heavy exposure converted into monthly cash with attention paid to tax character. A poor fit if you are holding the Nasdaq-100 specifically to compound growth, because the call overlay gives away the tail of exactly the rallies that index is bought for.

Aggressive tax-aware income

Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Jan 30, 2024 would now be worth $14,126 in QQQI and $14,054 in ISPY.
PeriodQQQIISPY
1 month-0.42%-0.08%
3 months-0.09%1.14%
Year to date0.56%5.30%
1 year0.69%6.61%
3 years——
5 years——
  • QQQI
  • ISPY
96125153202420252026141141

Both series indexed to 100 on 2024-01-30 using the adjusted closing price series. Past performance does not guarantee future results.

Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
  • QQQI
  • ISPY
0%15%31%46%61%Technology61.2%33.5%Financial Services0.2%22.5%Communication Services12.7%8.3%Consumer Cyclical10.1%7.4%Healthcare3.9%8.0%Industrials3.8%6.2%Consumer Defensive5.6%3.9%Energy0.5%3.2%Utilities1.0%1.7%Cash & Others0.0%2.5%Other1.0%2.9%
QQQI vs ISPY holdings overlap
At least 42% overlap by weight, with 36 holdings in common. Overlap adds up the smaller of the two weights for every stock both funds own, so 100% would mean identical portfolios.
Largest shared holdingsQQQI weightISPY weight
NVDANVIDIA Corp8.20%6.70%
AAPLApple Inc7.81%6.38%
MSFTMicrosoft Corp6.11%5.05%
AMZNAmazon.com Inc4.47%3.28%
GOOGLAlphabet Inc3.13%2.58%
GOOGAlphabet Inc2.90%2.06%
AVGOBroadcom Inc2.51%2.03%
METAMeta Platforms Inc3.25%1.98%
TSLATesla Inc2.96%1.32%
MUMicron Technology Inc4.40%1.30%
Top 10 holdings
Largest positions by portfolio weight.

QQQI10 holdings total

NameWeight
NVDANVIDIA Corp8.20%
AAPLApple Inc7.81%
MSFTMicrosoft Corp6.11%
AMZNAmazon.com Inc4.47%
MUMicron Technology Inc4.40%
AMDAdvanced Micro Devices Inc3.81%
METAMeta Platforms Inc3.25%
GOOGLAlphabet Inc3.13%
TSLATesla Inc2.96%
GOOGAlphabet Inc2.90%

ISPY514 holdings total

NameWeight
IQMMPROSHARES GENIUS MNY MKT ETF12.97%
NVDANVIDIA CORP6.70%
AAPLAPPLE INC6.38%
MSFTMICROSOFT CORP5.05%
AMZNAMAZON.COM INC3.28%
GOOGLALPHABET INC-CL A2.58%
GOOGALPHABET INC-CL C2.06%
AVGOBROADCOM INC2.03%
METAMETA PLATFORMS INC-CLASS A1.98%
TSLATESLA INC1.32%

Quick verdict

QQQI fits better if you care most about more income today. ISPY fits better if you care most about lower fees, stronger 1-year returns, smaller drawdowns and broader diversification. Model the holding inside your real portfolio before deciding.

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Frequently asked questions

Is QQQI or ISPY better for dividend income?
It depends on your goals. QQQI currently yields 14.11% Trailing Twelve Months (TTM) while ISPY yields 5.52%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between QQQI and ISPY?
NEOS Nasdaq-100 High Income ETF (QQQI) is an ETF listed on NASDAQ. ProShares - S&P 500 High Income ETF (ISPY) is an ETF listed on CBOE. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, QQQI or ISPY?
ISPY has the lower expense ratio. QQQI charges 0.68% a year and ISPY charges 0.55%, a difference of $13 a year on a $10,000 investment.
Which has performed better, QQQI or ISPY?
Over the last 1 year, ISPY has the higher total return with dividends reinvested: QQQI returned 0.7% and ISPY returned 6.6%. Past performance does not predict future returns.
Which is riskier, QQQI or ISPY?
Measured by the worst peak-to-trough decline over the last five years, QQQI has been riskier: QQQI fell as much as 20.0% and ISPY as much as 16.9%. Their betas are 0.93 and 0.86.
How much do QQQI and ISPY overlap?
At least 42% of the two portfolios overlap by weight, across 36 shared holdings. The largest shared positions are NVDA, AAPL, MSFT. Holding both still adds meaningful diversification.
How often do QQQI and ISPY pay dividends?
Both pay monthly. The most recent payments were $0.6339 for QQQI and $0.2523 for ISPY.
How much income does $10,000 in QQQI vs ISPY generate?
At current TTM yields, $10,000 in QQQI would generate roughly $117.57 per month ($1411 annually). The same amount in ISPY would produce about $46.00 per month ($552 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both QQQI and ISPY?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare QQQI vs ISPY with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how QQQI and ISPY fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.

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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.