HYBI vs SPY
HYBI vs SPY
NEOS Enhanced Income Credit Select ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | HYBI | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.68% | 0.09% | |
| AUM | $219M | $789.1B | |
| Dividend Yield | 8.33% | 1.01% | |
| Holdings | 10 | 505 | |
| YTD Return | +2.41% | +13.79% | |
| 1Y Return | +5.79% | +23.66% | |
| 3Y Return (annualized) | - | +21.40% | |
| 5Y Return (annualized) | - | +13.37% | |
| Volatility (annualized) | 3.1% | 15.3% | |
| Max Drawdown | -4.0% | -56.5% | |
| Fund Family | NEOS | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Sep 30, 2024 | Jan 22, 1993 |
HYBI vs SPY Performance
NEOS Enhanced Income Credit Select ETF (HYBI) is a ETF from NEOS and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year HYBI returned +5.79% while SPY returned +23.66%. Year to date, HYBI is up 2.41% versus a gain of 13.79% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 3.1% for HYBI. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -4.0% for HYBI and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.72. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
HYBI charges 0.68% per year while SPY charges 0.09%. On a $10,000 position that is $68 vs $9 annually, a gap of $59 per year that compounds over a long holding period. On income, HYBI currently yields 8.33% against 1.01% for SPY.
Holdings Overlap
HYBI and SPY share 0 holdings out of 505 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, HYBI or SPY?
HYBI has an expense ratio of 0.68% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $59 per year of difference.
Which performed better, HYBI or SPY?
Over the past year HYBI returned +5.79% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), HYBI annualized +6.51% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, HYBI or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 3.1% for HYBI. Worst drawdown: HYBI -4.0% vs SPY -56.5%.
Should I hold both HYBI and SPY?
HYBI and SPY have a monthly-return correlation of 0.72, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between HYBI and SPY?
HYBI and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 505 unique securities.
Which pays a higher dividend, HYBI or SPY?
HYBI yields 8.33% while SPY yields 1.01%, so HYBI currently pays the higher dividend yield.
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