← All funds
🔒
You're viewing the free teardown. Pro unlocks the deeper sections on this fund — risk assessment, scoring & verdict, track record vs. the underlying, holdings & concentration, peer comparison, pros & cons, and the analyst commentary.
Start your 7-day free trial XNAS · Active · options-income
QQQI
NEOS Nasdaq 100 High Income ETF
NEOS Investment Management, LLC
Verdict
Weighted score · Pro 🔒
Fund Identity
What it is, who runs it, where it lives.
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 and employs a call options strategy consisting of written (sold) call options on the Nasdaq-100® Index (NDX®), with the potential to also purchase out-of-the-money long call options to form a call spread generating a net credit. The Fund seeks high monthly income from option premiums and equity dividends, while utilizing Section 1256 Contracts for tax-efficient treatment (60/40 long-term/short-term capital gains split). The Fund generally replicates the Nasdaq-100® but may use representative sampling when full replication is impractical, and the adviser actively manages options positions prior to expiration.
Ticker
QQQI
Issuer
NEOS Investment Management, LLC
Exchange
XNAS
Inception
2024-01-30 · 2.5 yrs
Mgmt style
Active
Replication
Physical (full replication) of Nasdaq-100® equity portfolio plus Derivatives (options/futures) — written and purchased NDX® index call options overlay
Index-based
—
Leverage
None
Strategy & Options Mechanics
How the portfolio is built and where the income comes from.
PORTFOLIO
Hybrid
actively managed
OPTIONS OVERLAY
Strategy
Covered Calls (written/sold NDX call options) + optional long out-of-the-money NDX call options (call spread for net credit)
generates income
Underlying
NDX (Nasdaq-100® Index)
income exposure
MONTHLY
13.8%
DIST. RATE
100% ROC
Section 1256 (60/40)
Section 1256 (60/40)
Underlying
NDX (Nasdaq-100® Index)
Strategy
Covered Calls (written/sold NDX call options) + optional long out-of-the-money NDX call options (call spread for net credit)
Tax
Section 1256 (60/40)
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, and may use a portion of that premium to purchase out-of-the-money long call options on the same index to allow upside participation. The options qualify as Section 1256 Contracts, providing 60% long-term / 40% short-term capital gains tax treatment regardless of holding period. The adviser actively manages options positions prior to expiration and may engage in tax loss harvesting on options and equity positions.
Performance & NAV
Total return vs. the underlying, with drawdown context.
NAV HISTORY · AUG '25 – AUG '26
AUG '25AUG '26
Flat-NAV reinvestment hurdle
0.0%
Share of each distribution you’d need to reinvest just to hold NAV flat. 0% — the fund is covering its payout without eroding NAV.
Distribution & Tax
Where the yield comes from — and how it’s taxed.
Composition · Recent Distribution
100%
ROC
Return of Capital — constructive100%
Net Investment Income0%
Frequency
Monthly
Dist. rate
13.83%
ROC %
100%
30-day SEC
not reported
Consistency
1 w/o cut
YOC · 1yr-ago buyer
14.3%
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 July 2026 distribution of $0.6346 per share is estimated to be 100% return of capital with no net investment income or capital gains components. On a fiscal year-to-date basis, cumulative distributions of $4.4342 per share are also 100% return of capital. These are book-basis estimates and final tax characterization may differ.
Distribution & Return of Capital
Per-month payout split and the running return-of-capital share · last 24 months.
DIST ($/sh)ROC %
Return of capital ($/sh)
Net investment income ($/sh)
Monthly ROC %
Calendar-year ROC (YTD est.)
Distribution Growth & Schedule
Per-period growth of the payout, the latest schedule, and how long distributions take to repay NAV.
Distribution Growth by Lookback Period
Latest Distribution Schedule
Record date
2026-07-22
Ex-dividend
2026-07-22
Pay date
—
Payback Period
7.2 yr
Dist. Since Incep.
$18.6
Holdings & Concentration
Position sizing, top-name weights, and concentration risk.
Sector Mix · Tilt vs Nasdaq-100
No sector feed for this fund.
Holdings
104
Top-10 Wt.
—
Technical Signal & Liquidity
Moving-average posture and a read on tradability.
Price vs. Moving Averages
$56.4$51.6$46.8$42.0
AUG '25AUG '26
Price $55.14
50-DMA $54.64
200-DMA $51.27
Bullish — 50-DMA above 200-DMA
Price $55.14 is above the 200-day SMA ($51.27); 50-day SMA $54.64. 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
Avg daily volume
5.7M
Avg dollar volume
$327,137,436
Bid/ask spread
0.02%
Premium/discount
+0.00%
Turnover
22%
Estimated bid/ask spread ~0.18% (moderate). Average daily dollar volume ~$327.1M (very liquid). This spread is a high-low estimate, not a live quote; the issuer's reported median spread and premium/discount to NAV are shown above when available.
Assets Under Management
Trend: Stable. Source: shares×price (Massive, monthly).
AUM ($)
$13.90B
$13.94B$11.63B$9.32B
MAR '26AUG '26
SOURCES Massive market-data API, SEC EDGAR filings, issuer disclosures.
QQQI · 2026-08-10
Prepared by Streamfolio
Research aid, not investment advice.
Prepared by Streamfolio
Research aid, not investment advice.