SPYI Dividend Calculator

Unlike many high-income funds, SPYI’s yearly payout has not shrunk. It paid $5.7873 per share in 2023, $6.1182 in 2024 (up 5.7%) and $6.1458 in 2025 (up 0.5%).

In 2026 the first nine payments add up to $4.7603, which is 4.3% more than the first nine of 2025 ($4.5658). Each 2026 payment has been between $0.5104 and $0.5423 per share, a narrow range for an option-income fund.

NEOS publishes its distribution calendar in advance. The remaining 2026 ex-dividend dates on its schedule are Nov 18, 2026, Dec 16, 2026. The amount for each is announced the day before.

SPYI pays once a month. Its ex-dividend dates fall in the second half of the month, and in 2026 the cash has arrived two days after each ex-date.

SPYI owns the stocks of the S&P 500 and runs a call option strategy on the S&P 500 index (SPX). NEOS says the strategy may both sell and buy index options, which can leave room to gain when the market rises, and that the fund looks for tax-loss harvesting chances.

Most of each payment comes from the option premiums rather than from the dividends of the companies it owns.

For the most part, no. NEOS says SPYI’s distributions have been classified as a return of capital, made up of option premiums, dividends, capital gains and interest. Return of capital is not taxed when you receive it; it reduces your cost basis, which raises the taxable gain when you sell.

The SPX index options SPYI uses are section 1256 contracts, taxed at 60% long-term and 40% short-term rates. The fund posts 19a-1 notices with an estimated breakdown of each payment, and your Form 1099-DIV has the final numbers.

As of Oct 13, 2026, SPYI’s trailing yield was about 11.72%, from $6.34 paid per share over the last 12 months.

On its own page, NEOS showed two higher figures for August 31, 2026. One is 12.15%: August’s $0.5423 payment times 12, divided by the share price. The other is 11.82%, which uses the payouts of the past 12 months instead. Its 30-day SEC yield on the same date was 0.46%, low because that measure leaves out option income.

JEPI also sells options against large U.S. stocks, but through equity-linked notes, and its income is generally taxed as ordinary income. It yielded about 8.01% as of Oct 13, 2026, compared with about 11.72% for SPYI.

QQQI is SPYI’s sister fund from NEOS. It uses the same approach on the Nasdaq-100 instead of the S&P 500 and yielded about 13.65%. The Nasdaq-100 is more tech-heavy and swings more, which tends to mean more option income and more risk.

NEOS reports that SPYI returned 14.86% a year at net asset value from its launch to June 30, 2026, with payouts included, and 19.02% over the year to that date. Past returns are no guide to what comes next.

Based on the trailing 11.72% yield, about $102,389 in SPYI, or roughly 1,893 shares near $54.10, would have paid $12,000 over the past year.

Because SPYI pays monthly and its payments have stayed in a tight range, the income arrives fairly evenly, but it is not fixed. The calculator above lets you try other amounts.

The NEOS S&P 500 High Income ETF started on August 29, 2022 and is listed on Cboe. It charges 0.68% a year, or $68 per $10,000, and had about $12.3 billion in net assets on September 24, 2026.

As of Oct 13, 2026, SPYI yields about 11.72%, having distributed $6.34 per share over the trailing twelve months.

Its most recent payment was $0.5338 per share, which went ex-dividend on Sep 16, 2026 and paid on Sep 18, 2026.

Because SPYI pays a variable monthly distribution, the amount changes every period — its recent payments have ranged from $0.5247 to $0.5423 per share. Treat the headline yield as a record of what was paid, not a promise of future income.

As a covered-call income ETF, SPYI pairs an above-average yield with limited share-price upside, because option premium is exchanged for capped growth — so set the price-growth input in the calculator above conservatively rather than assuming the yield compounds untouched.

SPYI holds S&P 500 constituents and uses an options overlay designed for high monthly income with some tax efficiency. It competes with JEPI in the equity-income-via-options category.

SPYI is a covered-call income etf from NEOS that distributes monthly. Because dividend investing is about both income and the growth of that income, the calculator above lets you model three things independently for SPYI: the starting yield, how fast the dividend grows each year, and how fast the share price appreciates. That separation matters most for covered-call funds, where a high headline yield often pairs with little or no price growth — so the "stock price growth" input should usually be modest.