ETF Evaluator:
NEOS Nasdaq-100(R) High Income ETF ()
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(as of Aug 26)
Best Performing in Derivative Income Over the Last Year
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ETF Details
NEOS Nasdaq-100(R) High Income ETF Overview
NEOS Nasdaq-100(R) High Income ETF (QQQI) is an actively managed Nontraditional Equity Derivative Income exchange-traded fund (ETF). Neos Funds launched the ETF in 2024.
The investment seeks to generate high monthly income in a tax efficient manner with the potential for equity appreciation.
The fund is an actively-managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by investing in a portfolio of stocks that make up the Nasdaq-100® Index and a call options strategy, that consists of written (sold) call options on the Nasdaq-100® Index. Under normal circumstances, at least 80% of the fund’s net assets, plus borrowings for investment purposes, will be invested in securities, or derivative instruments linked to securities, of companies that are included in the reference index.
About NEOS Nasdaq-100(R) High Income ETF (QQQI)
There are 2 members of the management team with an average tenure of 2.50 years: Garrett Paolella (2024) and Troy Cates (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: NASDAQ 100 TR USD index with a weighting of 100% and CBOE NASDAQ-100 BuyWrite USD index with a weighting of 100%. NEOS Nasdaq-100(R) High Income ETF has 109 securities in its portfolio. The top 10 holdings constitute 46.3% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
NEOS Nasdaq-100(R) High Income ETF is part of the Equity global asset class and is within the Nontraditional Equity ETF group. NEOS Nasdaq-100(R) High Income ETF has 2.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 96.0% There is 2.6% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). NEOS Nasdaq-100(R) High Income ETF has 1.7% of the portfolio in cash.
Assets Under Management
The fund has $13 billion in total assets, which is above the $727 million average for the Derivative Income category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
QQQI Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The NEOS Nasdaq-100(R) High Income ETF expense ratio is above average compared to funds in the Derivative Income category. NEOS Nasdaq-100(R) High Income ETF has an expense ratio of 0.68%, which is 18% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. NEOS Nasdaq-100(R) High Income ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 69% for the Derivative Income category.
Recently, in the month of July 2026, NEOS Nasdaq-100(R) High Income ETF returned -5.7%, which earned it a grade of F, as the Derivative Income category had an average return of -1.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
NEOS Nasdaq-100(R) High Income ETF has a trailing yield of 1.29%, which is below the 19.96% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
NEOS Nasdaq-100(R) High Income ETF Grades
Year to date, the ETF has returned 6.9%, 4.3 percentage points better than the category, which translates into a grade of C. The fund has returned 16.0% over the past year (grade of C).
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QQQI Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| QQQI Return (NAV) | -5.7% | 1.2% | 16.0% | na | na | na |
| QQQI Return (Price) | -5.5% | 1.4% | 16.0% | na | na | na |
| NAV +/- Price Return | -0.195% | -0.266% | 0.005% | na | na | na |
| Derivative Income Avg | -1.5% | 0.6% | 11.2% | 13.7% | 8.8% | 7.5% |
| QQQI Grade (NAV) | F | D | C | na | na | na |
| +/- Category (NAV) | -4.2% | 0.6% | 4.8% | na | na | na |
| QQQI Tax-Cost Ratio | na | na | 0.5% | na | na | na |
QQQI Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| QQQI Return (NAV) | 6.9% | 18.6% | na | na | na | na | na | na | na | na | na |
| QQQI Return (Price) | 6.9% | 18.6% | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.001% | -0.001% | na | na | na | na | na | na | na | na | na |
| Derivative Income Avg | 2.6% | 10.6% | 18.5% | 17.5% | -11.3% | 19.4% | 1.4% | 19.2% | -7.1% | 12.1% | 8.7% |
| QQQI Grade (NAV) | C | A | na | na | na | na | na | na | na | na | na |
| +/- Category | 4.3% | 8.0% | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 1.3% |
| Total Assets: | $ 13,399 Mil |
| Share Class Assets: | $ 13,399 Mil |
| Turnover: | na |
| Expense Ratio: | 0.68% |
| Index Fund: | No |
| Index Tracked: | NASDAQ 100 TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 2.5 years | |||
| Average Tenure: 2.5 years | |||
| Managers (Year): Paolella Garrett (2024), Cates Troy (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 109 |
| % in Top 10 Holdings: | 46.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 2.6% |
Portfolio Allocation |
|
| Domestic Stock: | 96.0% |
| Foreign Stock: | 2.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | -0.4% |
| Cash: | 1.7% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Neos Funds |
| Phone Number: | 833-833-1311 |
| Website: | |
| Inception Date: | January 29, 2024 |
Expenses and Fees
| Expense Ratio (%): | 0.68% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.83% |
