XNAS · Active · options-income

NEOS Nasdaq 100 High Income ETF

NEOS Investment Management, LLC

Weighted score · 4.20 / 5

AUM

assets under mgmt

Avg Volume

shares · daily

Distribution

Monthly · 98% ROC

Expense Ratio

0.68% gross

1Y Return

vs underlying

Sharpe

Max DD -20.0%

The NEOS Nasdaq-100® 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 in a portfolio of stocks comprising the Nasdaq-100® Index combined with a call options strategy consisting of written (sold) call options and, opportunistically, purchased out-of-the-money long call options on the Nasdaq-100® Index (NDX®). The options strategy seeks to generate a net-credit, producing high monthly income from option premiums and equity dividends. The Fund generally replicates the Nasdaq-100® (or uses representative sampling) and may actively manage options positions prior to expiration. It utilizes Section 1256 Contracts for tax-efficient treatment and may opportunistically harvest tax losses.

The Fund writes (sells) call options on the Nasdaq-100® on up to 100% of the value of its equity holdings to generate premium income. It may use a portion of those premiums to purchase out-of-the-money NDX® call options, creating a net-credit call spread that provides potential upside participation. The options qualify as Section 1256 Contracts, receiving 60/40 long-term/short-term capital gains tax treatment regardless of holding period.

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. 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 $0.6572 per share is composed almost entirely of Return of Capital (98%, $0.6432) with a small Net Investment Income portion (2%, $0.0140). On a fiscal year-to-date basis, 99% of cumulative distributions ($3.7853 of $3.8046) have been classified as Return of Capital.

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 $56.75 is above the 200-day SMA ($50.72); 50-day SMA $54.26. 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 ~0.16% (moderate). Average daily dollar volume ~$374.6M (very 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 ($)