SPYI vs ZHDG
Neos S&P 500(R) High Income ETF compared with ZEGA Buy and Hedge ETF on yield, payout growth, payment schedule, cost and risk.
SPYI
Neos S&P 500(R) High Income ETF
TTM yield · Monthly
ZHDG
ZEGA Buy and Hedge ETF
TTM yield · Annual
Quick take
- SPYI yields more today: 12.01% vs 2.42% (forward).
- SPYI has grown its payout faster: 6.1%/yr vs 0.8%/yr over the last 3 years.
- SPYI pays every month; ZHDG pays once a year.
- Over the last year SPYI delivered the higher total return: +12.7% vs +8.1% (price change plus payouts).
- SPYI is cheaper to own: 0.68% vs 0.95% expense ratio.
- SPYI has the steadier distribution: consistency 98/100 vs 68/100.
Generated from the latest data on both pages. Not a recommendation.
Side by side
| Metric | SPYI | ZHDG |
|---|---|---|
| Share price | $52.64 | $23.99 |
| TTM yield | 12.01% | 2.42% |
| Forward yield | 12.01% | 2.42% |
| Annual payout per share | $6.323 | $0.581 |
| Payment frequency | Monthly | Annual |
| Next ex-date | Nov 18, 2026 (est.) | Dec 24, 2026 (est.) |
| Expense ratio | 0.68% | 0.95% |
| 1-year payout growth | +3.1% | +10.5% |
| 5-year payout CAGR | — | — |
| Consecutive years of increases | 3 years | 2 years |
| Payout consistency (last 12) | 98/100 | 68/100 |
| 1-year total return | +12.7% | +8.1% |
| 1-year price return | +0.7% | +5.5% |
| Size (market cap / AUM) | 12.2B | 31.0M |
| Years paying | 4.1 | 4.8 |
| 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
| SPYI | ZHDG | |
|---|---|---|
| Shares | 190.0 | 416.9 |
| Income per year | $1,201 | $242 |
| Income per month (avg) | $100 | $20 |
At forward yields, before taxes. Model SPYI · Model ZHDG
Next payments
| Ex-date | Pay date | Per share | Status |
|---|---|---|---|
| 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. |
| ZHDG Dec 24, 2026 | Jan 7, 2027 | $0.581 | Est. |
Annual payouts per share
SPYIZHDG
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, SPYI or ZHDG?
SPYI currently has the higher trailing yield: SPYI yields 12.01% and ZHDG yields 2.42%. Yield changes daily with price, so check the live figures above.
How often do SPYI and ZHDG pay?
SPYI pays every month and ZHDG pays once a year. SPYI's next ex-date is Nov 18, 2026 and ZHDG's is Dec 24, 2026.
Which has grown its dividend faster, SPYI or ZHDG?
SPYI has grown its payout faster: 6.1%/yr vs 0.8%/yr over the last 3 years.
Is SPYI or ZHDG better for income?
It depends on what you are optimising for. SPYI and ZHDG 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.