Three options-overlay ETFs—YieldMax Ultra Option Income Strategy (ULTY), NEOS Nasdaq-100 High Income (QQQI), and NEOS S&P 500 High Income (SPYI)—are delivering double-digit annual yields by using different strategies to convert equity volatility into income. ULTY targets high-volatility single stocks with weekly payouts around 50% annualized but carries principal risk and high expenses. QQQI and SPYI use tax-efficient call writing on broad indexes, offering monthly yields near 14% and 11.5%, respectively, while preserving capital growth. Investors can choose based on their risk tolerance and income needs, with SPYI seen as a core holding and ULTY as a high-cash-flow, higher-risk option.
