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Home/News Feed/SPYI ETF shows conflicting yields due to option strategy income not counted by SEC formula
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SPYI ETF shows conflicting yields due to option strategy income not counted by SEC formula

Market News
19 Aug 2026
24/7 Wall Street
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SPYI ETF shows conflicting yields due to option strategy income not counted by SEC formula

The NEOS S&P 500 High Income ETF (SPYI) reports two very different yield figures: an 11.78% distribution rate and a 0.47% SEC 30-day yield. This discrepancy arises because the SEC yield formula excludes income from option premiums, which is SPYI's main source of returns, focusing only on dividends and interest. The distribution rate reflects past payouts funded largely by selling call options, but it is not a reliable forecast since option premiums depend on market volatility (VIX). Investors should focus on total return and monitor volatility levels rather than relying on either yield figure as a predictor of future income.

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A 57-year-old needs about $745,000 in a Roth IRA to generate $5,050 monthly tax-free income after 59½.

A 57-year-old needs about $745,000 in a Roth IRA to generate $5,050 monthly tax-free income after 59½.

A Roth IRA portfolio designed to yield 8.1% annually requires roughly $745,000 to generate $60,000 tax-free per year, or $5,050 monthly. The portfolio includes seven income sources like Nasdaq and S&P 500 option premium ETFs, net-lease real estate, a...

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