Key stats
About NEOS Russell 2000 High Income ETF
Home page
Inception date
Jun 25, 2024
Structure
Open-Ended Fund
Replication method
Physical
Dividend treatment
Distributes
Distribution tax treatment
Qualified dividends
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Neos Investment Management LLC
Distributor
Foreside Fund Services LLC
ISIN
US78433H6348
IWMI invests in the Russell 2000 Index while also employing a call options strategy. The fund aims to generate high monthly tax-efficient income from dividend yields and call option premiums. Due to the nature of the funds option strategy, the fund limits its participation for potential gains when the index increases in value. While not an index fund, IWMI employs a replication strategy that most often substantially invests in underlying ETFs and securities in the same proportion as their index weighting. The fund may also do a representative sampling strategy, which involves investing in a sample of securities with similar characteristics. The Russell 2000 is a well-regarded benchmark index for US small-cap stocks. As an actively managed fund-of-fund, the adviser has full discretion to make any investment decision at any time, including the management of call options prior to expiration to capture gains and minimize losses.
Related funds
Classification
What's in the fund
Exposure type
ETF
Stock breakdown by region
Top 10 holdings
Frequently Asked Questions
An exchange-traded fund (ETF) is a collection of assets (stocks, bonds, commodities, etc.) that track an underlying index and can be bought on an exchange like individual stocks.
IWMI assets under management is 365.56 M USD. AUM is an important metric as it reflects the fund's size and can serve as a gauge of how successful the fund is in attracting investors, which, in its turn, can influence decision-making.
Since ETFs work like an individual stock, they can be bought and sold on exchanges (e.g. NASDAQ, NYSE, EURONEXT). As it happens with stocks, you need to select a brokerage to access trading. Explore our list of available brokers to find the one to help execute your strategies. Don't forget to do your research before getting to trading. Explore ETFs metrics in our ETF screener to find a reliable opportunity.
IWMI invests in funds. See more details in our Analysis section.
IWMI expense ratio is 0.68%. It's an important metric for helping traders understand the fund's operating costs relative to assets and how expensive it would be to hold the fund.
No, IWMI isn't leveraged, meaning it doesn't use borrowings or financial derivatives to magnify the performance of the underlying assets or index it follows.
Yes, IWMI pays dividends to its holders with the dividend yield of 14.04%.
IWMI shares are issued by NEOS Investments LLC
IWMI follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
The fund started trading on Jun 25, 2024.
The fund's management style is active, aiming to outperform its benchmark index by actively selecting and adjusting assets. The goal is to achieve returns that exceed those of the index the fund tracks.