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XQQI
NEOS Boosted Nasdaq-100 High Income ETF
NEOS Investment Management, LLC
Verdict
WATCH
Weighted score · 3.55 / 5
Fund Identity
What it is, who runs it, where it lives.
The NEOS Boosted Nasdaq-100® High Income ETF (the "Fund") seeks to boost performance by generating high monthly income in a tax efficient manner with the potential for enhanced equity appreciation in rising markets..
XQQI is an actively managed ETF that combines (i) a direct Nasdaq-100® equity portfolio paired with written NDX® covered call options to generate high monthly income, and (ii) a 'boosted' synthetic overlay that uses purchased NDX® calls and sold NDX® puts to create additional (~50%) long exposure to the Nasdaq-100®, plus additional written NDX® call options for incremental income. Together, the two components are designed to deliver approximately 150% of the exposure and income of QQQI. The strategy targets an annualized distribution rate of 19–23% and seeks tax efficiency by using NDX® index options that qualify as Section 1256 Contracts.
Ticker
XQQI
Issuer
NEOS Investment Management, LLC
Exchange
XNAS
Inception
2026-02-03 · 0.4 yrs
Mgmt style
Active
Replication
Physical (full replication or sampled) for equity sleeve + Derivatives (options/futures) for synthetic leveraged overlay and income generation
Index-based
— · Nasdaq-100® Index (NDX®)
Leverage
~1.5x (approximately 150% of QQQI exposure)
Strategy & Options Mechanics
How the portfolio is built and where the income comes from.
PORTFOLIO
Hybrid
actively managed
OPTIONS OVERLAY
Strategy
Covered calls (written NDX® calls on physical equity portfolio) + synthetic long (long NDX® calls + short NDX® puts at same strike/expiration) + synthetic covered calls (written NDX® calls on synthetic long exposure); optional call spread (long OTM NDX® calls + short NDX® calls for net credit)
generates income
Underlying
NDX (Nasdaq-100® Index)
income exposure
MONTHLY
7.9%
DIST. RATE
100% ROC
Section 1256 (60/40)
Section 1256 (60/40)
Underlying
NDX (Nasdaq-100® Index)
Strategy
Covered calls (written NDX® calls on physical equity portfolio) + synthetic long (long NDX® calls + short NDX® puts at same strike/expiration) + synthetic covered calls (written NDX® calls on synthetic long exposure); optional call spread (long OTM NDX® calls + short NDX® calls for net credit)
Tax
Section 1256 (60/40)
The Fund writes (sells) NDX® call options against both its physical Nasdaq-100® equity holdings and its synthetic long NDX® exposure to generate high monthly income. The synthetic long exposure is created by purchasing NDX® call options and selling NDX® put options at the same strike and expiration. All NDX® index options qualify as Section 1256 Contracts, providing 60% long-term / 40% short-term capital gain treatment.
Performance & NAV
Total return vs. the underlying, with drawdown context.
NAV HISTORY · FEB '26 – JUN '26
FEB '26JUN '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
7.92%
ROC %
100%
30-day SEC
not reported
Consistency
3 w/o cut
YOC · 1yr-ago buyer
8.6%
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 $0.9216 per share is estimated to be 100% return of capital, with no net investment income or capital gains components. This is consistent with the fiscal year-to-date cumulative distributions of $4.2087 per share, which are also 100% return of capital. These are estimates for book purposes and final tax characterization may differ.
Distribution & Return of Capital
Per-month payout split and the running return-of-capital share · last 5 months.
DIST ($/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
2026-06-03
Ex-dividend
2026-06-03
Pay date
—
Payback Period
12.6 yr
Dist. Since Incep.
$4.2
Holdings & Concentration
Position sizing, top-name weights, and concentration risk.
Sector Mix · Tilt vs S&P 500
No sector feed for this fund.
Holdings
107
Top-10 Wt.
—
Technical Signal & Liquidity
Moving-average posture and a read on tradability.
Price vs. Moving Averages
No moving-average series.
Price $53.17
50-DMA $—
200-DMA $—
Liquidity
Avg daily volume
283K
Avg dollar volume
$14,046,718
Bid/ask spread
0.14%
Premium/discount
+0.07%
Turnover
—
Estimated bid/ask spread ~0.24% (moderate). Average daily dollar volume ~$14.0M (liquid). This spread is a high-low estimate, not a live quote; the issuer's reported median spread and premium/discount to NAV are shown above when available.
Assets Under Management
Trend: Falling. Source: shares×price (Massive, monthly).
AUM ($)
$54M
$222M$119M$16M
FEB '26JUN '26
SOURCES Massive market-data API, SEC EDGAR filings, issuer disclosures.
XQQI · 2026-06-22
Prepared by denvereyon
Research aid, not investment advice.
Prepared by denvereyon
Research aid, not investment advice.
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