At a glance
QQQI charges 0.68% a year, above the 0.53% average of the 8 funds most like it (the 7th cheapest of 9). It has $13.11B in assets, the largest of that group; it paid 14.93% of its price in distributions over the past 12 months, monthly. Over the past year it returned +5.8% with distributions reinvested (S&P 500: +11.5%), 6th of those 9 funds. Its ten largest positions make up 45.1% of the fund, out of 102 in all.
The short version
NEOS Nasdaq 100 High Income ETF (QQQI) is an actively managed fund that owns the stocks in the Nasdaq-100 Index and sells call options on that index to pay monthly income. Its trailing 12-month yield was 14.26% as of October 29, 2026, and it uses index options that qualify for favorable tax treatment. The trade-offs are limited upside in strong rallies and a 0.68% expense ratio, above the 0.53% average for similar funds.
Price history
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QQQI +5.8% over the year to Nov 2, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| QQQI official prospectus, to Dec 31, 2025 | — | +18.62% | — | — | — | +19.84% |
| QQQI price data to Nov 2, 2026 | +6.6% | +5.8% | — | — | — | +16.2% |
- Over the year to Nov 2, 2026, QQQI returned +5.8%, 6th of 9 among similar funds.
- Its worst full calendar year was 2025 (+18.6%); its best was 2025 (+18.6%).
- The deepest fall in its price history was 20% (Feb 19, 2025 to Apr 8, 2025), recovered by Jun 24, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +6.6% | — |
| 2025 | +18.6% | +18.62% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $6.3500 | |
| 2025 | $7.4400 |
Living on QQQI: its income record, cuts, and how much a $1,000 monthly income takes →
What's inside
As of Jun 30, 2026, the fund held 102 securities; the ten largest made up 45.14% of assets.
| Holding | Weight | |
|---|---|---|
| NVIDIA Corp | 7.65% | |
| Apple Inc | 6.63% | |
| Micron Technology Inc | 5.61% | |
| Microsoft Corp | 4.38% | |
| Advanced Micro Devices Inc | 4.12% | |
| Amazon.com Inc | 4.05% | |
| Tesla Inc | 3.35% | |
| Alphabet Inc | 3.32% | |
| Alphabet Inc | 3.06% | |
| Intel Corp | 2.99% | |
| Broadcom Inc | 2.81% | |
| Meta Platforms Inc | 2.64% | |
| Applied Materials Inc | 2.51% | |
| Lam Research Corp | 2.37% | |
| Walmart Inc | 2.36% |
By country
United States 96.58%Netherlands 1.56%Canada 0.77%United Kingdom 0.42%Uruguay 0.37%By asset type
Stocks 99.92%By sector
Sectors of the companies held, for the 89.8% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jun 30, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jun 30, 2026, investors added a net $2.36B (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +10.41%, +6.67%, +0.58%.
How it works
NEOS Nasdaq 100 High Income ETF is actively managed by NEOS Investment Management, but its stocks come from the Nasdaq-100 Index: 100 of the largest non-financial companies on the Nasdaq Stock Market, weighted by market value. The fund generally owns every index stock at about the same weights, though it may hold a representative sample instead. As of June 30, 2026, NVIDIA (7.7%), Apple (6.6%) and Micron Technology (5.6%) were the largest positions.
The fund also sells (writes) call options on the Nasdaq-100 Index on up to 100% of its stock value. A call gives the buyer the index's gains above a set “strike” price; the fund collects a payment, called a premium, in return. Strikes typically sit near the index's level when sold, so the fund gives up much of the gain above that point but still bears losses if stocks fall. The adviser may spend part of the premium on higher-strike calls to regain some upside, while still taking in more premium than it pays.
The goal is high monthly income from those premiums plus stock dividends. Nasdaq-100 index options qualify as “Section 1256 contracts,” so their gains and losses are taxed as 60% long-term and 40% short-term, regardless of holding period. The adviser may sell losing positions to offset taxable gains.
What it really costs
- QQQI charges 0.68% a year, versus an average of 0.53% for the similar funds below (7th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $69 in the first year and $847 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| QQQI | $69 | $218 | $379 | $847 |
Structure and tax notes
- Generates much of its income from selling options (directly or through notes). That income is usually taxed as ordinary income rather than as qualified dividends, and the strategy gives up some upside in strong markets.
In a retirement portfolio
QQQI's main purpose is high monthly income from selling options on Nasdaq-100 stocks, not long-term growth.
QQQI could add a large monthly cash flow: its trailing 12-month yield was 14.26% as of October 29, 2026. Its record is short. It launched in January 2024, so it did not exist during the 2008, 2020 or 2022 downturns. Its only full calendar year, 2025, returned 18.62%. Its deepest drop was 20%, from February 19 to April 8, 2025, and it recovered by June 24, about 2.5 months later. The fund owns the stocks outright, so it takes the Nasdaq-100's losses, softened only by option premiums. The options also limit how much it gains in a rebound. A retiree who has to sell shares in a slump could lock in losses. In the SEC's standard example, the 0.68% annual fee costs $69 in year one and $847 over 10 years on $10,000. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want monthly income from Nasdaq-100 giants like NVIDIA, Apple and Microsoft and can give up much of the upside in rallies.
- Taxable-account investors who value index options taxed at 60% long-term and 40% short-term under Section 1256 rules.
- People who can live with tech-heavy swings, such as the 20% drop in early 2025, in exchange for a 14.26% trailing yield.
Look elsewhere if
- Cost-focused investors: QQQI's 0.68% expense ratio ranks 7th of 9 similar funds, compared with 0.29% for Nasdaq-100 Core Premium Income ETF (GPIQ).
- Growth investors who want the Nasdaq-100's full gains: the fund sells calls close to the index level, giving up most of a rally.
- Investors who want a long track record or broad diversification: the fund dates from January 2024, and technology is about 54% of its holdings.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| QQQI this fund | — | 0.68% | $13.11B | +5.8% | — |
| QQQH NEOS Nasdaq 100 Hedged Equity Income ETF | 99% | 0.68% | $389.0M | +7.4% | — |
| SEPQ STF Tactical Growth & Income ETF | 95% | 0.65% | $80.1M | +14.2% | +24.1% |
| GPIQ Nasdaq-100 Core Premium Income ETF | 95% | 0.29% | $5.11B | +16.1% | +25.6% |
| QYLD Global X NASDAQ 100 Covered Call ETF | 93% | 0.6% | $8.09B | +18.9% | +17.4% |
| QRMI Global X NASDAQ 100 Risk Managed Income ETF | 92% | 0.6% | $14.3M | +5.1% | +9.2% |
| QYLG Global X Nasdaq 100 Covered Call & Growth E… | 92% | 0.35% | $158.3M | +17.3% | +23.1% |
| QCLR Global X NASDAQ 100 Collar 95-110 ETF | 91% | 0.25% | $3.3M | -0.6% | +15.2% |
Compared head to head: QQQI vs QQQM · JEPQ vs QQQI · QQQI vs SPYI · all comparisons →
Questions investors ask
Is QQQI good for retirement income?
It can provide a lot of monthly income, but with trade-offs. QQQI's trailing 12-month yield was 14.26% as of October 29, 2026, paid monthly. Much of that comes from selling Nasdaq-100 call options. So the fund gives up much of the index's upside but still takes its losses. It fell 20% in early 2025. It also charges 0.68% a year and only launched in January 2024, so it hasn't been through a long bear market.
QQQI vs QYLD: what's the difference?
Both sell call options on the Nasdaq-100 to pay monthly income, and 93% of their holdings overlap. QQQI is actively managed and may buy higher-strike calls to keep some upside. It also uses index options chosen for favorable tax treatment. Global X's QYLD costs less, at 0.60% a year versus 0.68%. Over one year, QYLD returned 18.9% as of October 27, 2026, and QQQI returned 10.2% as of October 29, 2026.
Does QQQI pay monthly dividends?
Yes, QQQI pays distributions every month. In the 12 months to October 29, 2026, it paid $7.62 per share, a trailing yield of 14.26%. Much of that cash comes from option premiums, not company dividends, so the amounts can change. Option income is usually not taxed as qualified dividends. However, the fund's index options get partly long-term capital gains treatment.
Is QQQI tax efficient?
It is designed to be, but the result isn't guaranteed. QQQI sells Nasdaq-100 index options that count as Section 1256 contracts. Their gains and losses are taxed as 60% long-term and 40% short-term, however long they were held. The manager may also sell losing positions to offset gains. Still, the tax treatment of payouts can change from year to year, and option income usually isn't taxed as qualified dividends. This matters more in a taxable account than in a tax-advantaged retirement account.
Can QQQI lose money?
Yes. QQQI owns Nasdaq-100 stocks, so it takes their losses, softened only by option premiums. Its deepest drop was 20%, from February 19 to April 8, 2025, and it did not recover until June 24, 2025. Its worst quarter was a 6.14% loss in early 2025. About 54% of its holdings were technology stocks as of June 30, 2026, led by NVIDIA, Apple and Micron. That makes it vulnerable to a tech sell-off.