LemonTrades
TL;DR
- SPYI pays every month, about $0.51 to $0.54 a share. The last 12 payments came to about $6.32, a yield near 12.4%.
- The latest was $0.5087 a share, paid October 23, 2026.
- It owns S&P 500 stocks and sells index call options, which get 60/40 tax treatment. Much of its payout has been classed as return of capital.
- LemonTrades tells you what moved the market and your funds, and why, as it happens.
SPYI launched in August 2022 and has about $12.5 billion. Here’s what it’s paid.
SPYI’s recent payouts
| Paid | Per share |
|---|---|
| Oct 23, 2026 | $0.5087 |
| Sep 18, 2026 | $0.5338 |
| Aug 21, 2026 | $0.5423 |
| Jul 24, 2026 | $0.530 |
| Jun 18, 2026 | $0.531 |
| May 22, 2026 | $0.5353 |
| Apr 24, 2026 | $0.5247 |
| Mar 20, 2026 | $0.5104 |
| Feb 20, 2026 | $0.5219 |
| Jan 23, 2026 | $0.5309 |
| Dec 26, 2025 | $0.53163 |
| Nov 28, 2025 | $0.5216 |
Payouts have been steady month to month.
How it makes its payouts
SPYI holds the S&P 500’s stocks and sells call options on the S&P 500 index, sometimes buying cheaper calls back to keep some upside. Index options are taxed as 60% long-term and 40% short-term gains, and NEOS harvests losses to offset gains.
What to watch
- Trails the index in rallies, because sold calls cap gains.
- Falls in sell-offs, cushioned only a little by the option income.
- Return of capital lowers your cost basis, so you pay more tax when you sell.
- Fee of 0.68%, far above an index fund’s.
Compare JEPI and its Nasdaq sibling QQQI. If you just want the S&P 500, see VOO.
Sources
Education, not financial advice. Past payouts don’t predict future ones. See our disclaimer.
