PEPS vs SPYI
Parametric Equity Plus ETF compared with Neos S&P 500(R) High Income ETF on yield, payout growth, payment schedule, cost and risk.
PEPS
Parametric Equity Plus ETF
TTM yield · Quarterly
SPYI
Neos S&P 500(R) High Income ETF
TTM yield · Monthly
Quick take
- SPYI yields more today: 12.01% vs 1.03% (forward).
- PEPS pays every quarter; SPYI pays every month.
- Over the last year PEPS delivered the higher total return: +17.0% vs +12.7% (price change plus payouts).
- PEPS is cheaper to own: 0.10% vs 0.68% expense ratio.
- SPYI has the steadier distribution: consistency 98/100 vs 77/100.
Generated from the latest data on both pages. Not a recommendation.
Side by side
| Metric | PEPS | SPYI |
|---|---|---|
| Share price | $33.00 | $52.64 |
| TTM yield | 0.96% | 12.01% |
| Forward yield | 1.03% | 12.01% |
| Annual payout per share | $0.34 | $6.323 |
| Payment frequency | Quarterly | Monthly |
| Next ex-date | Dec 21, 2026 (est.) | Nov 18, 2026 (est.) |
| Expense ratio | 0.10% | 0.68% |
| 1-year payout growth | — | +3.1% |
| 5-year payout CAGR | — | — |
| Consecutive years of increases | 1 year | 3 years |
| Payout consistency (last 12) | 77/100 | 98/100 |
| 1-year total return | +17.0% | +12.7% |
| 1-year price return | +15.9% | +0.7% |
| Size (market cap / AUM) | 29.6M | 12.2B |
| Years paying | 1.8 | 4.1 |
| Sector / category | Derivative Income | Derivative Income |
✓ marks the more favourable figure where one exists (higher yield, growth, streak, consistency, return and size; lower cost, payout ratio and risk).
$10,000 invested today
| PEPS | SPYI | |
|---|---|---|
| Shares | 303.0 | 190.0 |
| Income per year | $103 | $1,201 |
| Income per month (avg) | $9 | $100 |
At forward yields, before taxes. Model PEPS · Model SPYI
Next payments
| Ex-date | Pay date | Per share | Status |
|---|---|---|---|
| PEPS Dec 21, 2026 | Dec 25, 2026 | $0.085 | Est. |
| PEPS Mar 22, 2027 | Mar 26, 2027 | $0.085 | Est. |
| PEPS Jun 21, 2027 | Jun 25, 2027 | $0.085 | Est. |
| SPYI Nov 18, 2026 | Dec 2, 2026 | $0.5269 | Est. |
| SPYI Dec 16, 2026 | Dec 30, 2026 | $0.5269 | Est. |
| SPYI Jan 13, 2027 | Jan 27, 2027 | $0.5269 | Est. |
Annual payouts per share
PEPSSPYI
Regular payments only; the current year is year to date. Per-share amounts are not directly comparable when share prices differ, so read this chart for growth trends.
FAQ
Which has the higher dividend yield, PEPS or SPYI?
SPYI currently has the higher trailing yield: PEPS yields 0.96% and SPYI yields 12.01%. Yield changes daily with price, so check the live figures above.
How often do PEPS and SPYI pay?
PEPS pays every quarter and SPYI pays every month. PEPS's next ex-date is Dec 21, 2026 and SPYI's is Nov 18, 2026.
Is PEPS or SPYI better for income?
It depends on what you are optimising for. PEPS and SPYI differ in yield, growth, payment schedule and risk profile; the table above puts every metric side by side so you can weigh them for your own goals. This page is data, not advice.