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SPYH ETF — Holdings & Analysis

The NEOS S&P 500 Hedged Equity Income ETF (SPYH) is managed by Neos and has $0.03 billion in assets under management.

Launched in April 2025, SPYH aims to provide high monthly income with a measure of downside protection, utilizing a hedged equity income strategy. The ETF's expense ratio is 0.68%, and it seeks to deliver tax-efficient income by investing in S&P 500 companies while employing options strategies.

NEOS S&P 500 Hedged Equity Income ETF (SPYH) ETF — Price, Holdings & Analysis

The NEOS S&P 500 Hedged Equity Income ETF (SPYH) is managed by Neos and has $0.03 billion in assets under management. Launched in April 2025, SPYH aims to provide high monthly income with a measure of downside protection, utilizing a hedged equity income strategy. The ETF's expense ratio is 0.68%, and it seeks to deliver tax-efficient income by investing in S&P 500 companies while employing options strategies.

ETF Overview

The NEOS S&P 500 Hedged Equity Income ETF (the “Fund”) seeks high monthly income in a tax efficient manner with a measure of downside protection.
The NEOS S&P 500 Hedged Equity Income ETF (SPYH) seeks to generate high monthly income and provide a degree of downside protection. The fund achieves this by investing in companies within the S&P 500 and employing a hedging strategy. SPYH's portfolio is heavily weighted towards technology, with 33.0% allocated to the sector. Financial Services (12.4%) and Communication Services (10.9%) also represent significant portions of the fund. Top holdings include NVIDIA Corp (7.33%), Apple Inc (6.67%), and Microsoft Corp (4.91%). The fund's strategy may appeal to investors seeking income and downside mitigation, but it's important to consider the expense ratio and the potential impact of the hedging strategy on overall returns. The fund's focus on large-cap U.S. equities makes it suitable for investors looking for exposure to established companies.

Risk Metrics

SPYH carries several risks inherent in its investment strategy. The fund's concentration in the technology sector (33.0%) exposes it to sector-specific risks. A downturn in the technology sector could disproportionately impact the fund's performance. With an AUM of $0.03 billion, SPYH is a relatively small ETF, which can lead to wider bid-ask spreads and potential liquidity issues. The fund's expense ratio of 0.68% is higher than some broad market ETFs, which can create a drag on returns over time. The fund's beta is 0.00, indicating low volatility relative to the market, but this may also limit potential upside. Investors should carefully consider these factors before investing.

Expense Ratio

0.68%

What does SPYH hold?

HoldingWeight
NVIDIA Corp (NVDA)7.33%
Apple Inc (AAPL)6.67%
Microsoft Corp (MSFT)4.91%
Amazon.com Inc (AMZN)3.50%
Alphabet Inc Class A (GOOGL)3.09%
Broadcom Inc (AVGO)2.58%
Alphabet Inc Class C (GOOG)2.48%
Meta Platforms Inc Class A (META)2.42%
Tesla Inc (TSLA)1.93%
Berkshire Hathaway Inc Class B (BRK-B)1.60%

How Is the Fund Allocated?

SectorWeight
Technology33.0%
Financial Services12.4%
Communication Services10.9%
Consumer Cyclical9.9%
Healthcare9.8%
Industrials8.2%
Consumer Defensive5.6%
Energy3.6%
Utilities2.7%
Real Estate2.1%
Basic Materials1.9%
Cash & Others0.0%
CountryWeight
United States93.6%
Ireland1.5%
Other3.9%
United Kingdom0.5%
Switzerland0.4%
Netherlands0.1%
Canada0.0%
Bermuda0.1%

Dividend Yield

0.00%

Risk Metrics

  • Beta: 0.00

Questions & Answers

What is SPYH and what does it track?

The NEOS S&P 500 Hedged Equity Income ETF (SPYH) aims to provide high monthly income and a measure of downside protection. The fund invests primarily in companies within the S&P 500, using a hedged equity income strategy.

This involves using options to generate income and provide some downside risk management.

What is the expense ratio for SPYH?

The expense ratio for SPYH is 0.68%. This means that for every $10,000 invested in the fund, $68 is deducted annually to cover operating expenses.

While this provides access to a specific investment strategy, it's important to consider the cost relative to other ETFs. The expense ratio can impact overall returns, especially over the long term. Investors should compare SPYH's expense ratio to similar ETFs to assess its cost-effectiveness.

What are the top holdings in SPYH?

As of 2026-03-15, the top holdings in SPYH include NVIDIA Corp (7.33%), Apple Inc (6.67%), and Microsoft Corp (4.91%). These companies represent a significant portion of the fund's assets. The fund's top holdings reflect a concentration in large-cap technology companies.

Other notable holdings include Amazon.com Inc (3.50%) and Alphabet Inc Class A (3.09%).

Is SPYH a good long-term investment?

Whether SPYH is a good long-term investment depends on an investor's individual circumstances and risk tolerance. The fund's strategy of generating income and providing downside protection may be attractive to some investors.

However, the fund's expense ratio of 0.68% should be considered. Past performance does not guarantee future results. Investors should carefully evaluate the fund's strategy, holdings, and risk factors before making an investment decision.

How does SPYH compare to similar ETFs?

SPYH differentiates itself through its hedged equity income strategy, aiming to provide both income and downside protection. SPYH has an expense ratio of 0.68% and AUM of $0.03B.

Other ETFs may focus solely on dividend income or offer broader market exposure without the hedging component. Investors should compare the strategies, expense ratios, and performance of different ETFs to determine which best aligns with their investment goals.

Does SPYH pay dividends?

As of 2026-03-15, the NEOS S&P 500 Hedged Equity Income ETF (SPYH) has a dividend yield of 0.00%. While the fund's objective is to provide high monthly income, the current dividend yield is zero.

Investors should monitor the fund's dividend distributions to assess its income-generating potential. The fund's income strategy involves using options, which may result in varying dividend payouts over time.