BATS · Active · options-income

NEOS MSCI EAFE High Income ETF

NEOS Investment Management, LLC

Weighted score · 4.10 / 5

AUM

assets under mgmt

Avg Volume

shares · daily

Distribution

Monthly · 0% ROC

Expense Ratio

0.75% gross

1Y Return

vs underlying

Sharpe

Max DD -10.9%

The NEOS MSCI EAFE High Income ETF (the "Fund") seeks to generate high monthly income in a tax efficient manner with the potential for equity appreciation..

The Fund is an actively-managed ETF that invests at least 80% of its net assets in securities of companies included in the MSCI EAFE Investable Market Index, primarily through one or more International Underlying ETFs and/or direct stock holdings. It overlays a covered call options strategy, writing (selling) call options on the International Index to generate high monthly income from premiums, supplemented by dividends from equity holdings. The Fund may also enter call spread strategies (buying out-of-the-money calls in addition to selling calls) to generate a net credit and allow some upside participation. The options utilized are structured to qualify as Section 1256 Contracts for tax-efficient treatment.

The Fund writes (sells) covered call options on the International Index to generate monthly income from premiums; it does not intend to write calls on the entire value of its equity portfolio. As an alternative, the Adviser may enter call spread strategies purchasing long out-of-the-money calls alongside the written calls to generate a net credit and provide some upside participation. Options used are structured to qualify as Section 1256 Contracts, receiving 60/40 long-term/short-term capital gains tax treatment.

NAV HISTORY · SEP '25 – JUN '26

Max DD

Volatility

Sharpe

Sortino

Calmar

Beta

Share of each distribution you’d need to reinvest just to hold NAV flat. 0% — the fund is covering its payout without eroding NAV.

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 $0.4131 per share is estimated to be 100% net investment income with no return of capital. However, on a fiscal year-to-date basis, 67% of cumulative distributions have been classified as return of capital. The actual tax characterization will be determined after fiscal year-end.

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

Liquidity

Estimated bid/ask spread ~0.10% (tight). Average daily dollar volume ~$2.4M (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 ($)