Compare/Updated Oct 26, 2026, refreshed every trading day
ISPY vs SPYI
ProShares - S&P 500 High Income ETF against Neos S&P 500(R) High Income ETF: 3 years of returns, risk and today’s technical read, from Kavout’s own data.
SPYI did better over the 713-trading-day period: $1,000 invested on December 20, 2023 grew to $1,548, versus $1,525 for ISPY, a 54.8% versus 52.5% total return. SPYI also led across the listed 3-month, 6-month, YTD, and 1-year periods, while ISPY performed slightly better over the past month. The difference matters because SPYI delivered higher returns despite lower 12-month volatility—10.6% versus 12.5% for ISPY—and a slightly less severe worst drawdown, -16.5% versus -16.9%. SPYI’s advantages came with a higher expense ratio, 0.68% versus 0.56%, while its fund assets were $10B versus ISPY’s $1B. The funds remained highly similar, with 0.931 correlation over the period and 0.942 over the last 12 months; each won 17 of the last 34 months.
- Price is above its 200-day average ($46); 50-day at $48.
- RSI 43, neutral. Supertrend says sell. ADX 15, so the trend is weak.
- Price is above its 200-day average ($50); 50-day at $53.
- RSI 44, neutral. Supertrend says sell. ADX 16, so the trend is weak.
Head to head
Which has returned more, ISPY or SPYI?
ISPY beat SPYI in 17 of the last 34 months; SPYI won the other 17. The typical monthly gap was 0.64 points.
Total return by period
Which is riskier?
Both: Feb 19, 2025 to Apr 8, 2025
- 0.931
- correlation of daily moves, 3 years
- 0.99
- ISPY move per 1% in SPYI
- 0.942
- correlation, last 12 months
Month by month
Of the last 34 months. The typical gap was 0.64 points.
When did they diverge?
| Month | ISPY | SPYI | Gap |
|---|---|---|---|
| April 2025 | -3.4% | -0.4% | -3.01 pts |
| June 2025 | +5.5% | +3.7% | +1.75 pts |
| May 2026 | +5.4% | +3.9% | +1.56 pts |
| April 2026 | +8.7% | +7.2% | +1.45 pts |
Where the numbers come from. 713 daily adjusted closes per fund from the Kavout market-data API, dividends included. Signals and indicators are Kavout’s own, refreshed nightly. Every figure is calculated from those adjusted closes.
Holdings and fees
What do you actually own with ISPY and SPYI?
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