Dividend comparison

QQQI vs TSPY: Which Is Better for Income?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for NEOS Nasdaq-100 High Income ETF and TappAlpha SPY Growth & Daily Income ETF, side by side. Updated October 21, 2026.

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QQQI vs TSPY: key differences
The short answer, from the latest data on this page.
  • Fees. QQQI is cheaper at 0.68% a year versus 0.71% for TSPY. On $10,000 that is $3 a year less in fees.
  • Income. Their trailing yields are almost the same: 14.11% for QQQI and 14.08% for TSPY. Both pay monthly.
  • Performance. Over the last 1 year, TSPY returned 2.0% versus 0.7% for QQQI, with dividends reinvested. $10,000 would have grown to $10,197 in TSPY 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 -18.0% for TSPY.
  • Diversification. QQQI holds 10 positions and TSPY holds 4. The ten largest positions make up 47.0% of QQQI and 99.8% of TSPY.
  • Overlap. QQQI and TSPY share no holdings, so they behave as separate building blocks.
  • Size. QQQI is the larger fund with $15.1 billion in assets, against $359 million for TSPY.

Bottom line: QQQI has the edge on these figures, with lower fees and broader diversification. TSPY does not lead on any of the measures compared here.

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
TSPY
TappAlpha SPY Growth & Daily Income ETF
Dividend yield (TTM)14.11%14.08%
Dividend / share (TTM)$7.64$3.57
Payout frequencyMonthlyMonthly
Last dividend$0.6339 on Sep 18, 2026$0.2968 on Oct 7, 2026
Ex-dividend dateSep 16, 2026Oct 6, 2026
Price$54.16$25.32
Beta0.931.04
Max drawdown (5Y)-20.0%-18.0%
Market cap$14.89B$118.0M
ExchangeNASDAQNASDAQ
Expense ratio0.68%0.71%
Assets under management$15.08B$358.9M
Number of holdings104
Top 10 concentration47.0%99.8%
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

TSPY

$117.33/mo

$1408 /yr at 14.08% yield

Dividend history
Total dividends paid per share in each calendar year. QQQI pays monthly; TSPY pays monthly.
YearQQQITSPY
2025$7.4435$3.4921
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 TSPY 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 Aug 15, 2024 would now be worth $12,871 in QQQI and $12,351 in TSPY.
PeriodQQQITSPY
1 month-0.42%0.00%
3 months-0.09%0.32%
Year to date0.56%-0.71%
1 year0.69%1.97%
3 years——
5 years——
  • QQQI
  • TSPY
89115140202420252026129124

Both series indexed to 100 on 2024-08-15 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
  • TSPY
0%15%31%46%61%Technology61.2%Communication Services12.7%Consumer Cyclical10.1%Consumer Defensive5.6%Healthcare3.9%Industrials3.8%Utilities1.0%Basic Materials0.9%Energy0.5%Financial Services0.2%Other0.1%
QQQI vs TSPY holdings overlap
0% overlap by weight, with 0 holdings in common. Overlap adds up the smaller of the two weights for every stock both funds own, so 100% would mean identical portfolios.
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%

TSPY4 holdings total

NameWeight
VOOVanguard S&P 500 ETF99.80%

Quick verdict

QQQI has the edge on these figures, with lower fees and broader diversification. TSPY does not lead on any of the measures compared here. Model the holding inside your real portfolio before deciding.

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Frequently asked questions

Is QQQI or TSPY better for dividend income?
It depends on your goals. QQQI currently yields 14.11% Trailing Twelve Months (TTM) while TSPY yields 14.08%. 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 TSPY?
NEOS Nasdaq-100 High Income ETF (QQQI) is an ETF listed on NASDAQ. TappAlpha SPY Growth & Daily Income ETF (TSPY) is an ETF listed on NASDAQ. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, QQQI or TSPY?
QQQI has the lower expense ratio. QQQI charges 0.68% a year and TSPY charges 0.71%, a difference of $3 a year on a $10,000 investment.
Which has performed better, QQQI or TSPY?
Over the last 1 year, TSPY has the higher total return with dividends reinvested: QQQI returned 0.7% and TSPY returned 2.0%. Past performance does not predict future returns.
Which is riskier, QQQI or TSPY?
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 TSPY as much as 18.0%. Their betas are 0.93 and 1.04.
How often do QQQI and TSPY pay dividends?
Both pay monthly. The most recent payments were $0.6339 for QQQI and $0.2968 for TSPY.
How much income does $10,000 in QQQI vs TSPY generate?
At current TTM yields, $10,000 in QQQI would generate roughly $117.57 per month ($1411 annually). The same amount in TSPY would produce about $117.33 per month ($1408 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both QQQI and TSPY?
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 TSPY with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how QQQI and TSPY 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.