Dividend comparison
ROCY vs SPYI: Which Is Better for Income?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for JPMorgan Equity Premium Yield ETF and Neos S&P 500(R) High Income ETF, side by side. Updated October 21, 2026.
- Fees. ROCY is cheaper at 0.35% a year versus 0.68% for SPYI. On $10,000 that is $33 a year less in fees.
- Income. SPYI pays more income, yielding 11.81% over the last twelve months versus 3.85% for ROCY. That is about $796 more a year on $10,000. ROCY pays quarterly, SPYI pays monthly.
- Risk. SPYI has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -16.5%, against -3.5% for ROCY.
- Diversification. ROCY holds 114 positions and SPYI holds 10. The ten largest positions make up 42.8% of ROCY and 38.5% of SPYI.
- Overlap. At least 53% of the two portfolios overlap by weight, across 53 shared holdings.
- Size. SPYI is the larger fund with $12.6 billion in assets, against $836 million for ROCY.
Bottom line: ROCY fits better if you care most about lower fees, smaller drawdowns and broader diversification. SPYI fits better if you care most about more income today.
| Metric | ROCY JPMorgan Equity Premium Yield ETF | SPYI Neos S&P 500(R) High Income ETF |
|---|---|---|
| Dividend yield (TTM) | 3.85% | 11.81% |
| Dividend / share (TTM) | $2.12 | $6.34 |
| Payout frequency | Quarterly | Monthly |
| Last dividend | $0.3054 on Oct 5, 2026 | $0.5338 on Sep 18, 2026 |
| Ex-dividend date | Oct 1, 2026 | Sep 16, 2026 |
| Dividend growth (CAGR) | — | 3.1% over 2 yrs |
| Price | $55.15 | $53.70 |
| Dividend growth streak | — | 2 years |
| Beta | 0.69 | 0.70 |
| Max drawdown (5Y) | -3.5% | -16.5% |
| Market cap | $109.1M | $10.50B |
| Exchange | NASDAQ | CBOE |
| Expense ratio | 0.35% | 0.68% |
| Assets under management | $835.9M | $12.56B |
| Number of holdings | 114 | 10 |
| Top 10 concentration | 42.8% | 38.5% |
ROCY
$32.05/mo
$385 /yr at 3.85% yield
SPYI
$98.39/mo
$1181 /yr at 11.81% yield
| Year | ROCY | SPYI |
|---|---|---|
| 2025 | — | $6.1458 |
| 2024 | — | $6.1182 |
| 2023 | — | $5.7873 |
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 ROCY vs SPYI actually do
It owns the index constituents, then layers on a data-driven call strategy that can include both sold and purchased SPX options, so the manager can dial how much upside is given away instead of overwriting the whole book every month. SPX options are section 1256 contracts, which are marked to market and taxed 60% long-term and 40% short-term regardless of holding period, and NEOS also harvests losses inside the options sleeve. Together those choices change the tax character of what lands in your account, which is the main thing separating this from an ordinary buy-write fund.
Suits a taxable-account holder who wants S&P 500 exposure with a much larger monthly payout and cares about how that income is taxed. Not for someone who wants uncapped participation in a strong bull market or the lowest possible expense ratio.
Tax-aware equity income
| Period | ROCY | SPYI |
|---|---|---|
| 1 month | 0.60% | 1.15% |
| 3 months | 1.81% | 1.19% |
| Year to date | — | 2.23% |
| 1 year | — | 3.99% |
| 3 years | — | 49.83% |
| 5 years | — | — |
- ROCY
- SPYI
Both series indexed to 100 on 2026-04-21 using the adjusted closing price series. Past performance does not guarantee future results.
- ROCY
- SPYI
| Largest shared holdings | ROCY weight | SPYI weight |
|---|---|---|
| NVDANVIDIA CORP COMMON STOCK | 8.46% | 7.94% |
| AAPLAPPLE INC COMMON STOCK | 7.54% | 7.49% |
| MSFTMICROSOFT CORP COMMON | 6.68% | 5.97% |
| AMZNAMAZON.COM INC COMMON | 4.11% | 3.90% |
| GOOGLALPHABET INC-CL A - | 4.80% | 3.00% |
| METAMETA PLATFORMS INC | 2.89% | 2.29% |
| AVGOBROADCOM INC COMMON | 2.14% | 2.40% |
| MUMICRON TECHNOLOGY INC | 2.16% | 1.51% |
| LLYELI LILLY AND COMPANY | 1.46% | 1.55% |
| AMDADVANCED MICRO DEVICES | 1.45% | 1.32% |
ROCY114 holdings total
| Name | Weight |
|---|---|
| NVDANVIDIA CORP COMMON STOCK | 8.46% |
| AAPLAPPLE INC COMMON STOCK | 7.54% |
| MSFTMICROSOFT CORP COMMON | 6.68% |
| GOOGLALPHABET INC-CL A - | 4.80% |
| AMZNAMAZON.COM INC COMMON | 4.11% |
| METAMETA PLATFORMS INC | 2.89% |
| MUMICRON TECHNOLOGY INC | 2.16% |
| AVGOBROADCOM INC COMMON | 2.14% |
| XOMEXXONMOBIL HOLDINGS CORP | 2.02% |
| WFCWELLS FARGO & CO COMMON | 1.97% |
Quick verdict
ROCY fits better if you care most about lower fees, smaller drawdowns and broader diversification. SPYI fits better if you care most about more income today. Model the holding inside your real portfolio before deciding.
Frequently asked questions
Is ROCY or SPYI better for dividend income?
What is the difference between ROCY and SPYI?
Which is cheaper, ROCY or SPYI?
Which is riskier, ROCY or SPYI?
How much do ROCY and SPYI overlap?
How often do ROCY and SPYI pay dividends?
How much income does $10,000 in ROCY vs SPYI generate?
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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.