What Is the QQQI ETF? A Complete Guide to Yield, Expense Ratio, Holdings, and Alternative ETFs
The NEOS Nasdaq 100 High Income ETF (QQQI) is a covered call ETF that keeps exposure to large-cap tech stocks while seeking high monthly income from option premiums. Compared with SPYI and QQQM, the key selection criteria are differences in the underlying index, strategy, and cost.
SubscribeWhat Is the NEOS Nasdaq 100 High Income ETF?
This is an actively managed ETF that holds a stock portfolio tracking the Nasdaq 100 Index while selling call options on the same index in a covered call strategy to seek monthly income. It combines option premiums and distributions to target a high distribution rate.
It suits income-focused investors who want to keep exposure to large-cap tech stocks while receiving regular monthly cash flow and high distribution income.
The ETF is actively managed by NEOS Investments.
How Does the NEOS Nasdaq 100 High Income ETF Invest?
| Item | Details |
|---|---|
| Tracked Index | Nasdaq 100 |
| Management Style | Active (covered call) |
| Rebalancing Frequency | As needed (tied to option expirations) |
| Distribution Frequency | Monthly |
| Total Expense Ratio | 0.68% |
The fund holds Nasdaq 100 constituent stocks to secure exposure to the underlying index, and at the same time sells call options on the Nasdaq 100 Index to generate monthly income from option premiums. The management team actively adjusts option positions while also taking tax efficiency into account.
- Combines large-cap tech exposure with monthly income
- Option management that considers tax efficiency
NEOS Nasdaq 100 High Income ETF Size and Costs (AUM and Management Fee)
Assets under management (AUM) stand at $14.9B, and the total expense ratio is 0.68% per year.
Compared with the similar income ETF SPYI, the underlying index and volatility profile differ, and the fund is distinguished by its higher weighting in tech stocks.
NEOS Nasdaq 100 High Income ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeThe share price moves with the performance of the underlying large-cap tech stocks, and because of the covered call structure, gains tend to be limited relative to the index in strongly rising markets. Distributions are paid steadily on a monthly basis.
As demand for high-dividend and income products grows, interest in covered call ETFs continues, and the level of option premiums and distribution capacity is affected by market volatility.
NEOS Nasdaq 100 High Income ETF Pros and Cons
High monthly distributions and retained tech stock exposure are its strengths, while limited upside in bull markets and distribution variability are its drawbacks.
💪 Key Strengths
⚠️ Points to Watch
NEOS Nasdaq 100 High Income ETF Alternative ETFs and Related Products
Among the products in the table, SPYI is a covered call income ETF from the same manager based on the S&P 500, so its underlying index differs. IWMI is based on the Russell 2000, which means exposure to small-cap stocks, and ISPY is another income ETF that applies a daily call option strategy to the S&P 500. If you simply want index exposure, you can consider QQQM, a low-cost fund that tracks the same Nasdaq 100 without an option strategy, or the more liquid QQQ as direct substitutes. JEPQ, another Nasdaq 100 covered call income product, is also worth comparing.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 SPYI | NEOS S&P 500 High Income ETF | $51.15 | -3.5% | $12.6B | 0.68% | 12.36% | -2.7% |
 ACYN | FT Vest Laddered Autocallable Barrier & Income ETF | $20.24 | -1.5% | $2.8B | 0.75% | 6.19% | - |
 IWMI | NEOS Russell 2000 High Income ETF | $47.68 | -3.7% | $1.3B | 0.68% | 15.19% | -2.3% |
 RSPA | Invesco S&P 500 Equal Weight Income Advantage ETF | $52.93 | -1.9% | $1.3B | 0.29% | 9.21% | +5.0% |
 ISPY | ProShares S&P 500 High Income ETF | $45.74 | -4.3% | $1.1B | 0.56% | 6.16% | -0.1% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
| NVDA | NVIDIA Corp | 0.16% | $181.60 | -9.3% | $4.38T | 23.0 | 0.43% |
| AAPL | Apple Inc | 0.14% | $344.17 | -1.5% | $5.00T | 38.4 | 0.34% |
| MSFT | Microsoft Corp | 0.10% | $535.93 | -3.6% | $3.98T | 28.0 | 0.72% |
| MU | Micron Technology Inc | 0.06% | $656.39 | -17.5% | $742.7B | 8.8 | 0.11% |
| AMZN | Amazon.com Inc | 0.09% | $260.21 | -2.2% | $2.81T | 21.0 | - |
| AMD | Advanced Micro Devices Inc | 0.04% | $404.40 | -17.3% | $660.2B | 87.9 | - |
NEOS Nasdaq 100 High Income ETF Investor Checkpoints
Here are the points to review before investing in QQQI. Because it is an income-focused covered call ETF, it is important to check in advance the nature of its distributions, the cap on upside in bull markets, operating costs, and tech stock concentration.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 💵 Expense Ratio | Check the level of active management costs | Annual fee applies |
| 💰 Distribution Nature | Composition of distributions and potential variability | Monthly distributions maintained |
| 📈 Upside Participation | Whether upside is capped in bull markets | Structural cap exists |
| 📊 Tech Concentration | Concentration based on the Nasdaq 100 | Large weighting in big tech |
Due to the covered call structure, performance can lag the index in strong rallies, and the distribution level varies with option premiums and market volatility. Volatility from tech stock concentration should also be considered.
It is a suitable choice for investors who want monthly income while keeping exposure to large-cap tech stocks. If you want pure index growth, QQQM or QQQ fits better, and if income is the priority, QQQI is the better fit.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of June 21, 2026.
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