This ETF is Now My Favorite Dividend Income Holding - 12% Yield

After first coming across a relatively new ETF and doing research into it, then slowly buying into it over time, I've been becoming a big fan of SPYI, which is Neos S&P 500 High Income ETF. As time has moved on, I've been really pleased with the consistent high monthly dividend and low volatility that this investment has offered. So much so that I now consider SPYI to be one of my favorite monthly income holdings. So in this video I'm gonna go into why I’ve become a fan of this ETF. I’ll talk about how this fund works and its performance up to this point. I'll also cover the pros and cons of it and what sets it apart, in my opinion. While I'm at it, I'm also gonna compare it to other covered call S&P 500 funds, as well as to other high yielding investments like closed-end funds that are offering similar yields.

The Neos S&P 500 High Income ETF describes itself as a fund that seeks high monthly income in a tax efficient manner, with the potential for upside appreciation in rising markets. The fund invests directly and through derivatives in stocks of companies operating across diversified sectors and uses derivatives such as options to create its portfolio. This ETF seeks to generate high income from the premiums earned from SPY call options as well as the dividends received from the fund's equity holdings. It's managed by Neo's Funds, who launched SPYI back in August of 2022. On their website they highlight three main features of this ETF. The first is the high monthly income, which is says "Investors may seek increased income generation potential within their portfolios through option writing".

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