IWMI vs SPYI: Yield, Cost and Returns Compared
As of Nov 8, 2026, IWMI yields more: 15.07% (dividend yield) against 12.33% for SPYI. IWMI is cheaper to own at 0.68% a year vs 0.68%. Over the same 2 years (Jun 2024 to Oct 2026), SPYI returned 15.0% a year with distributions reinvested, and IWMI 14.5%.
IWMINEOS Russell 2000 High Income ETF15.07%dividend yield
SPYINeos S&P 500(R) High Income ETF12.33%dividend yield| Compared | IWMI | SPYI |
|---|---|---|
| YieldDividend yield | 15.07% | 12.33% |
| Expense ratio | 0.68% | 0.68% |
| Total return, 1 yr | +15.2% | +11.9% |
| Total return, 3 yr (a year) | — | +18.0% |
| Worst drop since Jun 2024 | -15.3% | -5.5% |
| Share price since Jun 2024 | −2% | +5% |
| Pays | Monthly | Monthly |
| Issuer | Neos | Neos |
| Assets | $1.3B | $12.5B |
| Started | 2024 | 2022 |
| Type | Derivative Income | Derivative Income |
Higher yield
IWMI
15.07%
Lower cost
IWMI
0.68%
Better total return
SPYI
15.0%/yr
Smaller worst drop
SPYI
-5.5%
Key facts: IWMI vs SPYI
Data as of · Source: SmarterDividends data
- As of Nov 8, 2026, IWMI yields 15.07% (dividend yield) and SPYI yields 12.33% (dividend yield).
- IWMI's expense ratio is 0.68% and SPYI's is 0.68%: $68 vs $68 a year on $10,000.
- From Jun 2024 to Oct 2026, $10,000 in IWMI grew to $13,714 (14.5% a year) and $10,000 in SPYI to $13,863 (15.0% a year), distributions reinvested.
- Their worst month-end drops over that time: -15.3% for IWMI and -5.5% for SPYI.
- 0 of IWMI's top ten holdings are also in SPYI's top ten.
Cite this page
SmarterDividends, "IWMI vs SPYI: Yield, Cost and Returns Compared," updated Nov 8, 2026, https://smarterdividends.com/compare/iwmi-vs-spyi
$10,000 in each, Jun 2024 to Oct 2026
Distributions reinvested, month-end values, with the S&P 500 for reference.
IWMI became
$13,714
14.5% a year
SPYI became
$13,863
15.0% a year
Top holdings
No overlap in the top ten.
IWMI
- VTWO Vanguard Russell 2000 ETF99.7%
- FXFXX First American Treasury Obligs X0.7%
SPYI
- AAPL Apple Inc7.7%
- NVDA NVIDIA Corp7.6%
- MSFT Microsoft Corp5.9%
- AMZN Amazon.com Inc3.6%
- GOOGL Alphabet Inc Class A2.5%
- AVGO Broadcom Inc2.4%
- META Meta Platforms Inc Class A2.0%
- GOOG Alphabet Inc Class C2.0%
- LLY Eli Lilly and Co1.7%
- TSLA Tesla Inc1.7%
IWMI vs SPYI: questions
Is IWMI or SPYI better?
It depends on the job. IWMI pays more today (15.07% vs 12.33%), IWMI costs less, and SPYI has the better total return over Jun 2024 to Oct 2026, with SPYI holding up better in its worst stretch. For income, look at yield and whether the payouts hold up; for growth, total return and drawdowns.
Which pays a higher dividend, IWMI or SPYI?
IWMI, at 15.07% against 12.33% for SPYI as of Nov 8, 2026. On $10,000 that's about $1,507 vs $1,233 a year at today's rates.
Which has the better total return?
SPYI. From Jun 2024 to Oct 2026, it returned 15.0% a year with distributions reinvested, against 14.5% for IWMI. $10,000 became $13,863 vs $13,714.
Which is cheaper, IWMI or SPYI?
IWMI, with a 0.68% expense ratio against 0.68%.
Do IWMI and SPYI hold the same things?
Not at the top: none of their top ten holdings match.
Related comparisons
Yields, costs and holdings as each fund reports them (via Yahoo Finance), updated daily; returns from month-end prices with distributions reinvested. For information only, not investment advice. Last fund data: Nov 8, 2026.