NIHI vs SPY
NEOS MSCI EAFE High Income ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | NIHI | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.68% | 0.09% | |
| AUM | $198M | $814.4B | |
| Dividend Yield | 9.04% | 1.01% | |
| Holdings | 4 | 505 | |
| YTD Return | +2.33% | +12.10% | |
| 1Y Return | +7.44% | +20.30% | |
| 3Y Return (annualized) | - | +20.82% | |
| 5Y Return (annualized) | - | +12.53% | |
| Volatility (annualized) | 12.2% | 15.3% | |
| Max Drawdown | -11.7% | -56.5% | |
| Fund Family | NEOS | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Sep 17, 2025 | Jan 22, 1993 |
NIHI vs SPY Performance
NEOS MSCI EAFE High Income ETF (NIHI) is a ETF from NEOS and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year NIHI returned +7.44% while SPY returned +20.30%. Year to date, NIHI is up 2.33% versus a gain of 12.10% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 12.2% for NIHI. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -11.7% for NIHI and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.70. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
NIHI charges 0.68% per year while SPY charges 0.09%. On a $10,000 position that is $68 vs $9 annually, a gap of $59 per year that compounds over a long holding period. On income, NIHI currently yields 9.04% against 1.01% for SPY.
Holdings Overlap
NIHI and SPY share 0 holdings out of 505 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, NIHI or SPY?
NIHI has an expense ratio of 0.68% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $59 per year of difference.
Which performed better, NIHI or SPY?
Over the past year NIHI returned +7.44% vs +20.30% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results.
Which is riskier, NIHI or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 12.2% for NIHI. Worst drawdown: NIHI -11.7% vs SPY -56.5%.
Should I hold both NIHI and SPY?
NIHI and SPY have a monthly-return correlation of 0.70, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NIHI and SPY?
NIHI and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 505 unique securities.
Which pays a higher dividend, NIHI or SPY?
NIHI yields 9.04% while SPY yields 1.01%, so NIHI currently pays the higher dividend yield.
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