NEOS S&P 500 High Income ETF offers 12% yield via covered calls, trading growth for steady income.

The NEOS S&P 500 High Income ETF (SPYI) generates near 12% annualized income by holding the S&P 500 and selling call options to collect premiums, providing monthly payouts attractive to retirees seeking steady income. Unlike traditional bonds, SPYI caps upside gains during market rallies but still exposes investors to full downside risk. While it delivers consistent monthly income, its total returns lag a plain S&P 500 index fund due to the call overlay. This fund suits retirees prioritizing income over growth, but it is less appropriate for those seeking bond-like diversification or capital appreciation.