Compare/Updated Oct 26, 2026, refreshed every trading day
TSPY vs SPYI
TappAlpha SPY Growth & Daily Income ETF against Neos S&P 500(R) High Income ETF: 2 years of returns, risk and today’s technical read, from Kavout’s own data.
SPYI was the stronger overall choice for the period, although the difference was small: $1,000 invested on August 15, 2024 grew to $1,367 versus $1,376 for TSPY, giving TSPY a 0.9-point edge. SPYI delivered slightly better recent-period returns, including 3-month, 6-month, YTD, and 1-year performance, while TSPY led over the full comparison period. SPYI also carried less risk, with 10.6% volatility versus 12.5% for TSPY and a smaller worst drawdown of 16.5% versus 18.0%. Its 0.68% expense ratio was lower than TSPY’s 0.77%, and SPYI had $10B in fund assets versus TSPY’s $0B. The funds were highly correlated, with daily-move correlation of 0.939, so the choice primarily reflects TSPY’s marginally higher cumulative return versus SPYI’s lower volatility, drawdown, and cost.
- Price is above its 200-day average ($24); 50-day at $25.
- RSI 44, neutral. Supertrend says buy. ADX 13, 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, TSPY or SPYI?
TSPY beat SPYI in 12 of the last 26 months; SPYI won the other 14. The typical monthly gap was 0.59 points.
Total return by period
Which is riskier?
Both: Feb 19, 2025 to Apr 8, 2025
- 0.939
- correlation of daily moves, 2 years
- 1.07
- TSPY move per 1% in SPYI
- 0.967
- correlation, last 12 months
Month by month
Of the last 26 months. The typical gap was 0.59 points.
When did they diverge?
| Month | TSPY | SPYI | Gap |
|---|---|---|---|
| April 2025 | -3.5% | -0.4% | -3.10 pts |
| April 2026 | +9.2% | +7.2% | +1.94 pts |
| December 2024 | -3.7% | -1.8% | -1.88 pts |
| May 2025 | +6.6% | +4.9% | +1.73 pts |
Where the numbers come from. 550 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 TSPY and SPYI?
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