Dividend comparison
QQQI vs XYLD: Which Is Better for Income?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for NEOS Nasdaq-100 High Income ETF and Global X - S&P 500 Covered Call ETF, side by side. Updated October 21, 2026.
- Fees. XYLD is cheaper at 0.60% a year versus 0.68% for QQQI. On $10,000 that is $8 a year less in fees.
- Income. QQQI pays more income, yielding 14.11% over the last twelve months versus 10.44% for XYLD. That is about $367 more a year on $10,000. Both pay monthly.
- Performance. Over the last 1 year, XYLD returned 5.6% versus 0.7% for QQQI, with dividends reinvested. $10,000 would have grown to $10,556 in XYLD and $10,069 in QQQI.
- Risk. Their worst declines over the last 1 year were similar: -20.0% for QQQI and -18.6% for XYLD from peak to trough.
- Diversification. XYLD holds 505 positions and QQQI holds 10. The ten largest positions make up 47.0% of QQQI and 39.9% of XYLD.
- Overlap. At least 52% of the two portfolios overlap by weight, across 37 shared holdings.
- Size. QQQI is the larger fund with $15.1 billion in assets, against $3.4 billion for XYLD.
Bottom line: QQQI fits better if you care most about more income today. XYLD fits better if you care most about lower fees, stronger 1-year returns and broader diversification.
| Metric | QQQI NEOS Nasdaq-100 High Income ETF | XYLD Global X - S&P 500 Covered Call ETF |
|---|---|---|
| Dividend yield (TTM) | 14.11% | 10.44% |
| Dividend / share (TTM) | $7.64 | $4.32 |
| Payout frequency | Monthly | Monthly |
| Last dividend | $0.6339 on Sep 18, 2026 | $0.2964 on Sep 24, 2026 |
| Ex-dividend date | Sep 16, 2026 | Oct 19, 2026 |
| Next payment | — | $0.3140 on Oct 22, 2026 |
| Dividend growth (CAGR) | — | 4.8% over 4 yrs |
| Price | $54.16 | $41.40 |
| Dividend growth streak | — | 1 year |
| Beta | 0.93 | 0.41 |
| Max drawdown (5Y) | -20.0% | -18.6% |
| Market cap | $14.89B | $3.41B |
| Exchange | NASDAQ | AMEX |
| Expense ratio | 0.68% | 0.60% |
| Assets under management | $15.08B | $3.38B |
| Number of holdings | 10 | 505 |
| Top 10 concentration | 47.0% | 39.9% |
QQQI
$117.57/mo
$1411 /yr at 14.11% yield
XYLD
$87.02/mo
$1044 /yr at 10.44% yield
| Year | QQQI | XYLD |
|---|---|---|
| 2025 | $7.4435 | $5.4603 |
| 2024 | — | $3.9372 |
| 2023 | — | $4.2377 |
| 2022 | — | $5.3660 |
| 2021 | — | $4.5310 |
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 XYLD actually do
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
It tracks the Cboe S&P 500 BuyWrite Index, holding S&P 500 stocks and writing one-month calls at roughly the current index level. The mechanics match its Nasdaq sibling, but S&P 500 implied volatility is lower, so the premium collected and the resulting distribution are smaller. The same distribution guideline applies, capped at the lower of half the premiums received or 1% of net asset value.
Suits someone who wants the buy-write structure applied to a broader, less concentrated index than the Nasdaq-100. Not appropriate for an account that still needs capital growth, since full at-the-money overwriting caps the market return that funds it.
High current income, capped upside
| Period | QQQI | XYLD |
|---|---|---|
| 1 month | -0.42% | -0.05% |
| 3 months | -0.09% | 0.61% |
| Year to date | 0.56% | 1.90% |
| 1 year | 0.69% | 5.56% |
| 3 years | — | 36.95% |
| 5 years | — | 30.19% |
- QQQI
- XYLD
Both series indexed to 100 on 2024-01-30 using the adjusted closing price series. Past performance does not guarantee future results.
- QQQI
- XYLD
| Largest shared holdings | QQQI weight | XYLD weight |
|---|---|---|
| NVDANVIDIA Corp | 8.20% | 8.32% |
| AAPLApple Inc | 7.81% | 7.57% |
| MSFTMicrosoft Corp | 6.11% | 6.10% |
| AMZNAmazon.com Inc | 4.47% | 3.88% |
| GOOGLAlphabet Inc | 3.13% | 3.14% |
| GOOGAlphabet Inc | 2.90% | 2.51% |
| AVGOBroadcom Inc | 2.51% | 2.57% |
| METAMeta Platforms Inc | 3.25% | 2.49% |
| MUMicron Technology Inc | 4.40% | 1.70% |
| TSLATesla Inc | 2.96% | 1.62% |
QQQI10 holdings total
Quick verdict
QQQI fits better if you care most about more income today. XYLD fits better if you care most about lower fees, stronger 1-year returns and broader diversification. Model the holding inside your real portfolio before deciding.
Frequently asked questions
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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.