NEOS
NEOS is a private U.S. asset management firm that issues covered-call and options-spread ETFs — SPYI, QQQI, MLPI, IAUI, and BTCI — generating tax-efficient monthly income for retail investors and registered investment advisors, with aggregate AUM exceeding $23 billion across five products.
- Company typePrivate
- Founded2022
- HeadquartersHartford, United States
- Headcount11–50
- GTM typeB2C
- OfferingServices
What NEOS does
NEOS is a private U.S. asset management firm that issues exchange-traded funds built around covered-call and options-spread income strategies. The firm operates out of Hartford and was founded in 1999 per firmographic records (the ETF business was launched starting August 2022), with Ernst Renner as Co-Founder, CEO and Managing Partner. End customers are income-focused retail investors, registered investment advisors (RIAs), and institutional buyers seeking tax-efficient monthly distributions and partial upside exposure to underlying equity indices, sectors, commodities, and digital assets.
The firm's core product set consists of five ETFs: the S&P 500 High-Income ETF (SPYI), the Nasdaq-100 High Income ETF (QQQI), the MLP High Income ETF (MLPI), the Gold High Income ETF (IAUI), and the Bitcoin High Income ETF (BTCI). Core technology is options-based income generation using covered-call and spread methodologies on underlying equity indices and asset classes; each product employs a distinct multi-leg architecture — for example, SPYI's two-leg SPX call spread, MLPI's long-MLP/short-AMLP pair trade with call overlay, and IAUI's Treasury-collateralized synthetic gold exposure with dynamic covered-call coverage. Distribution occurs via exchange listing (BATS, NASDAQ) and standard retail brokerage and RIA platforms, with marketing concentrated in financial-media earned coverage (Seeking Alpha, Yahoo Finance, WealthManagement, 247wallst) and industry recognition such as the 2026 ETF.com Best New Options Income ETF award for IAUI.
NEOS generates revenue primarily through ETF management fees on disclosed expense ratios (e.g., QQQI at 0.68% annually), with yields distributed monthly to shareholders and the balance covering fund expenses and manager compensation. Distribution yields across the suite range from approximately 11.86% (SPYI) to roughly 14.72% (MLPI) and approximately 43% trailing (BTCI), with 87-99% of distributions structured as return of capital for tax efficiency in taxable accounts. Aggregate AUM across the five products exceeds approximately $23 billion, with SPYI ($10B+) and QQQI ($11.9B) as the dominant funds, and the firm is privately held with no disclosed parent company or institutional investor ownership.
Note on data conflict: the firmographic short_description describes NEOS as an "enterprise consulting services" firm, which is inconsistent with the detailed product, technology, and revenue-model evidence describing an ETF issuer; the analysis above is grounded in the dominant, source-cited evidence supporting the asset-management business.
NEOS firmographics
Firmographics- Name
- NEOS
- Legal name
- NEOS
- Website
- https://neosllc.com
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- NEOS is a private U.S. asset management firm that issues covered-call and options-spread ETFs — SPYI, QQQI, MLPI, IAUI, and BTCI — generating tax-efficient monthly income for retail investors and registered investment advisors, with aggregate AUM exceeding $23 billion across five products.
- Ownership category
- akta.pro rank
NEOS industry classification
Industry- Product category
- Income ETFs
- NAICS
- Portfolio Management and Investment Advice (523940), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Open-End Investment Funds (52591)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Investment Advice (6282)
- akta.pro primary industry
- Broad Market Equity ETFs (FSAAAFAA)
- akta.pro secondary industries
- Sector & Industry Equity ETFs (FSAAAFAC), Leveraged Tokens & Synthetic Leveraged ETPs (Crypto) (FSADAGAF)
Keywords
Where NEOS is headquartered
LocationHeadquarters
- HQ city
- Hartford
- HQ country
- United States
- HQ region
- North America
Markets served
NEOS business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- ETF Management Fees: NEOS generates revenue through management fees charged on its ETF products. The funds have expense ratios ranging from 0.68% (QQQI) and employ covered call strategies that generate premium income distributed to shareholders as monthly distributions, with the remainder covering fund expenses and manager compensation.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | QQQI - 0.68% annual expense ratio |
| Usage-based | Monthly | BTCI - 43% trailing yield with indirect Bitcoin exposure |
| Subscription | Monthly | QQQI - 14.30% dividend yield with 99% return of capital |
| Subscription | Monthly | IAUI - Dynamic covered call strategy on gold |
| Subscription | Monthly | MLPI - 14.72% distribution rate |
| Subscription | Monthly | SPYI - 11.86% yield with $10B+ AUM |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
NEOS product offering
Product offeringCore offering
NEOS is an asset management firm that issues and manages a suite of covered-call and options-income exchange-traded funds (ETFs) designed to convert market volatility into monthly income distributions. The product line spans five ETFs covering the S&P 500 (SPYI), Nasdaq-100 (QQQI), U.S. midstream energy MLPs (MLPI), gold (IAUI), and Bitcoin (BTCI), employing proprietary options strategies such as two-leg spreads, pair trades, and dynamic covered-call overlays with tax-efficient return-of-capital distributions.
Product overview
NEOS is an ETF provider offering a suite of covered-call income ETFs designed to generate monthly distributions by selling options on underlying assets. The product line includes five distinct ETFs covering major indices and asset classes: SPYI (S&P 500), QQQI (Nasdaq-100), MLPI (energy midstream MLPs), IAUI (gold), and BTCI (Bitcoin). Each ETF employs covered-call or dynamic options strategies tailored to convert volatility into income, with distribution yields ranging from approximately 11.8% to 43%, targeting taxable accounts for tax efficiency benefits.
Differentiator
Problem solved
Functional benefit
Brands
- NEOS S&P 500 High-Income ETF (SPYI): Covered-call ETF generating income from S&P 500 index options strategies, offering 11-12% yield with partial upside capture.
- NEOS Nasdaq-100 High Income ETF (QQQI)
- NEOS MLP High Income ETF (MLPI)
- NEOS Gold High Income ETF (IAUI)
- NEOS Bitcoin High Income ETF (BTCI)
Products and services
- NEOS S&P 500 High-Income ETF (SPYI)
- NEOS Nasdaq-100 High Income ETF (QQQI)
- NEOS MLP High Income ETF (MLPI)
- NEOS Gold High Income ETF (IAUI)
- NEOS Bitcoin High Income ETF (BTCI)
Quantifiable outcome
- SPYI has delivered 45 consecutive monthly distributions with 11.86% yield since August 2022
- +4 more outcomes
Companies that use NEOS
Customer profileNamed customers5 records
Segments5 records
Ideal customer profiles2 records
NEOS technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
NEOS partnerships and signals
Strategic signalScale indicators19 records
Recent moves6 records
Expansion highlights6 records
NEOS competitors and assessment
Company assessmentDirect peers
- JPMorgan Asset Management: Manages JEPI and JEPQ, the largest equity-premium-income ETFs directly competing with NEOS's SPYI and QQQI. Same covered-call/options-overlay strategy on S&P 500 and Nasdaq-100 with a much lower 0.35% expense ratio and substantially greater distribution scale.
- Roundhill Investments: Operates a covered-call ETF family (e.g., YLD, QDTE) and similar options-yield strategies; directly comparable in product structure, distribution approach, and target investor base to NEOS.
- Global X ETFs: Operates XYLD, XYLD, and the Covered Call suite on S&P 500, Nasdaq-100, and other benchmarks — one of NEOS's most frequently cited competitors in performance comparisons for SPYI.
- YieldMax ETFs: Options-income ETF suite offering covered-call and synthetic-yield strategies on individual stocks and ETFs. Closest direct competitor on the high-distribution / return-of-capital income strategy that NEOS employs.
- Amplify ETFs: Provider of amplified/covered-call ETFs (e.g., AYLD) competing directly with NEOS's options-income suite for income-seeking retail and RIA distribution channels.
Broad incumbents
- Invesco: Operates QQQ (the underlying benchmark for QQQI) and a growing suite of options-income ETFs including IVOL. Massive scale and brand create distribution advantage and are a long-term competitive threat to NEOS.
- BlackRock (iShares): World's largest ETF issuer with growing covered-call / income ETF offerings and unmatched distribution scale. Represents the most credible mega-brand threat to NEOS's niche positioning.
- Calamos Investments: Established covered-call fund manager with CPG, CPRY, and other income ETFs. Predates NEOS in the covered-call space and offers institutional-grade distribution, making it a credible incumbent competitor.
Emerging players
- GraniteShares: Smaller ETF issuer with income and leveraged products including options-overlay strategies — comparable in size and emerging-player status to NEOS within the broader ETF landscape.
- Simplify Asset Management: Newer ETF manager offering options-overlay strategies on equities, fixed income, and thematic baskets — partial overlap with NEOS's options-income approach but more thematic/niche in product design.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
NEOS social profiles
Digital presenceNEOS financial estimates
Financial estimateRevenue estimate
Valuation estimate
NEOS leadership team
Management profileNumber of profiles
Profiles1 record
NEOS funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
NEOS M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about NEOS
What does NEOS do?
NEOS is an asset management firm that issues and manages a suite of covered-call and options-income exchange-traded funds (ETFs) designed to convert market volatility into monthly income distributions. The product line spans five ETFs covering the S&P 500 (SPYI), Nasdaq-100 (QQQI), U.S. midstream energy MLPs (MLPI), gold (IAUI), and Bitcoin (BTCI), employing proprietary options strategies such as two-leg spreads, pair trades, and dynamic covered-call overlays with tax-efficient return-of-capital distributions.
Is NEOS a public or private company?
NEOS is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was NEOS founded?
NEOS was founded in 2022. It employs 11 to 50 people.
Where is NEOS based?
NEOS is headquartered in Hartford, United States, in the North America region.
How does NEOS make money?
One revenue line is on record: ETF Management Fees.
Who are NEOS's main competitors?
Direct peers on record are JPMorgan Asset Management, Roundhill Investments, Global X ETFs, YieldMax ETFs and Amplify ETFs. Broad incumbents are Invesco, BlackRock (iShares) and Calamos Investments. Emerging players are GraniteShares and Simplify Asset Management.
Does NEOS have an API?
No public API is recorded for NEOS.
What industry is NEOS in?
NEOS's product category is Income ETFs. Its primary akta.pro industry code is FSAAAFAA, Broad Market Equity ETFs, with a secondary code of FSAAAFAC, Sector & Industry Equity ETFs. Its NAICS code is 523940 and its SIC code is 6200.