SPYI vs XPAY: Yield, Cost and Returns Compared
As of Nov 7, 2026, XPAY yields more: 22.23% (dividend yield) against 12.33% for SPYI. XPAY is cheaper to own at 0.49% a year vs 0.68%. Over the same 2 years (Oct 2024 to Oct 2026), XPAY returned 15.7% a year with distributions reinvested, and SPYI 14.8%.
SPYINeos S&P 500(R) High Income ETF12.33%dividend yield
XPAYRoundhill S&P 500 Target 20 Managed Distribution ETF22.23%dividend yield| Compared | SPYI | XPAY |
|---|---|---|
| YieldDividend yield | 12.33% | 22.23% |
| Expense ratio | 0.68% | 0.49% |
| Total return, 1 yr | +11.9% | +11.1% |
| Total return, 3 yr (a year) | +18.0% | — |
| Worst drop since Oct 2024 | -5.5% | -7.7% |
| Share price since Oct 2024 | +4% | −12% |
| Pays | Monthly | Monthly |
| Issuer | Neos | Roundhill |
| Assets | $12.5B | $184.0M |
| Started | 2022 | 2024 |
| Type | Derivative Income | Derivative Income |
Higher yield
XPAY
22.23%
Lower cost
XPAY
0.49%
Better total return
XPAY
15.7%/yr
Smaller worst drop
SPYI
-5.5%
Key facts: SPYI vs XPAY
Data as of · Source: SmarterDividends data
- As of Nov 7, 2026, SPYI yields 12.33% (dividend yield) and XPAY yields 22.23% (dividend yield).
- SPYI's expense ratio is 0.68% and XPAY's is 0.49%: $68 vs $49 a year on $10,000.
- From Oct 2024 to Oct 2026, $10,000 in SPYI grew to $13,190 (14.8% a year) and $10,000 in XPAY to $13,388 (15.7% a year), distributions reinvested.
- Their worst month-end drops over that time: -5.5% for SPYI and -7.7% for XPAY.
- 0 of SPYI's top ten holdings are also in XPAY's top ten.
Cite this page
SmarterDividends, "SPYI vs XPAY: Yield, Cost and Returns Compared," updated Nov 7, 2026, https://smarterdividends.com/compare/spyi-vs-xpay
$10,000 in each, Oct 2024 to Oct 2026
Distributions reinvested, month-end values, with the S&P 500 for reference.
SPYI became
$13,190
14.8% a year
XPAY became
$13,388
15.7% a year
Top holdings
No overlap in the top ten.
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%
XPAY
- FGXXX First American Government Obligs X5.7%
SPYI vs XPAY: questions
Is SPYI or XPAY better?
It depends on the job. XPAY pays more today (22.23% vs 12.33%), XPAY costs less, and XPAY has the better total return over Oct 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, SPYI or XPAY?
XPAY, at 22.23% against 12.33% for SPYI as of Nov 7, 2026. On $10,000 that's about $2,223 vs $1,233 a year at today's rates.
Which has the better total return?
XPAY. From Oct 2024 to Oct 2026, it returned 15.7% a year with distributions reinvested, against 14.8% for SPYI. $10,000 became $13,388 vs $13,190.
Which is cheaper, SPYI or XPAY?
XPAY, with a 0.49% expense ratio against 0.68%.
Do SPYI and XPAY 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. SPYI leads on 3 of 5 measures above. For information only, not investment advice. Last fund data: Nov 7, 2026.