ARCX · Active · options-income

NEOS Enhanced Income 1-3 Month T-Bill ETF

NEOS Investment Management, LLC

Weighted score · 3.95 / 5

AUM

assets under mgmt

Avg Volume

shares · daily

Distribution

Monthly · 39% ROC

Expense Ratio

0.38% gross

1Y Return

vs underlying

Sharpe

Max DD -1.7%

The NEOS Enhanced Income 1-3 Month T-Bill ETF 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 1-3 month T-Bills or ETFs with substantial exposure to 1-3 month T-Bills. It supplements T-Bill income by selling and purchasing S&P 500 Index (SPX) put options using a put spread strategy, with short puts having notional value up to 100% of net assets paired with long puts. The options utilize Section 1256 Contract treatment for tax efficiency, and the adviser may actively manage positions prior to expiration and pursue tax-loss harvesting opportunities.

The Fund sells SPX put options with notional value up to 100% of net assets and buys an identical number of long puts to form a put spread. Options are European-style and cash-settled. The adviser may actively manage positions prior to expiration and opportunistically harvest tax losses on the options.

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 $0.1944 per share is estimated to be 61% net investment income ($0.1188) and 39% return of capital ($0.0756). On a fiscal year-to-date basis, approximately 40% of cumulative distributions have been 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 $49.74 is above the 200-day SMA ($48.74); 50-day SMA $49.53. 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 ~0.02% (very tight). Average daily dollar volume ~$29.7M (liquid). 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 ($)