ARCX · Active · options-income

NEOS Enhanced Income Aggregate Bond ETF

NEOS Investment Management, LLC

Weighted score · 3.60 / 5

AUM

assets under mgmt

Avg Volume

shares · daily

Distribution

Monthly · 40% ROC

Expense Ratio

0.61% gross

1Y Return

vs underlying

Sharpe

Max DD -7.0%

The NEOS Enhanced Income Aggregate Bond ETF (the "Fund") seeks to generate monthly income in a tax efficient manner..

The Fund is an actively-managed ETF that invests at least 80% of its assets in bonds or ETFs that invest 80% or more of their assets in bonds (seeking exposure to the US Aggregate Bond market), including U.S. Treasury bonds, government-related bonds, corporate bonds, MBS, CMBS, and ABS. In addition to the bond portfolio, the Fund sells and purchases S&P 500 Index put options (SPX put options) using a put spread strategy with notional value up to 100% of net assets to generate additional monthly income. The options strategy targets tax-efficient returns by utilizing Section 1256 Contracts, which receive 60/40 long-term/short-term capital gains treatment.

The Fund sells SPX put options (Short Puts) with notional value up to 100% of net assets and purchases an equal number of SPX put options (Long Puts) to form a put spread. The strategy is designed to generate positive returns in rising and flat equity markets and potentially in modestly declining markets. SPX options are European-style and cash-settled, qualifying as Section 1256 Contracts for favorable 60/40 tax treatment.

NAV HISTORY · JUN '25 – JUN '26

Max DD

Volatility

Sharpe

Sortino

Calmar

Beta

Share of each distribution you’d need to reinvest just to hold NAV flat. Higher means more of the yield is your own capital coming back.

Composition · Recent Distribution

Tax Treatment — Section 1256 (60/40)

SECTION 1256 (60/40)

Distribution Composition (Recent)

ROC is not free money — it lowers your cost basis. When shares are sold, capital gains are computed against the lower basis.

Composition · Narrative

The June 2026 distribution of $0.2247 per share is estimated to be 60% net investment income ($0.1340) and 40% return of capital ($0.0907). On a fiscal year-to-date cumulative basis, 51% of total distributions have been classified as return of capital. No capital gains are included in this distribution.

Return of capital ($/sh)

Net investment income ($/sh)

Monthly ROC %

Calendar-year ROC (YTD est.)

Distribution Growth by Lookback Period

Sector Mix · Tilt vs S&P 500

Price vs. Moving Averages

Bullish — 50-DMA above 200-DMA

Price $46.99 is above the 200-day SMA ($46.34); 50-day SMA $46.78. The 50-day SMA sits above the 200-day — an established uptrend, no recent crossover. Moving-average signals are a timing aid, not a recommendation — weigh them against the distribution profile and framework score.

Liquidity

Estimated bid/ask spread ~0.04% (very tight). Average daily dollar volume ~$1.5M (adequate). This spread is a high-low estimate, not a live quote; the issuer's reported median spread and premium/discount to NAV are shown above when available.

AUM ($)