NEOS Enhanced Income Credit Select ETF
HYBI
NASDAQ Global Market- -
USD
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Capital Structure
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- 15601 Dallas Parkway, Suite 510 Addison TX United States of America 75001
- IPO Date
- Sep 30, 2024
- CIK
- 0001848758
- Website
- neosfunds.com
- Similar Companies
- Business
- NEOS Enhanced Income Credit Select ETF (HYBI) is an actively managed exchange-traded fund that seeks total return from income and capital appreciation through tax-efficient monthly distributions, primarily via exposure to a portfolio of high-yield and investment-grade fixed income securities selected by a proprietary quantitative model and enhanced by a systematic options overlay strategy involving S&P 500 put spreads. The fund invests predominantly in U.S. bond exchange-traded funds such as iShares Broad USD High Yield Corporate Bond ETF (USHY), Xtrackers USD High Yield Corporate Bond ETF (HYLB), and SPDR Portfolio High Yield Bond ETF (SPHY), balancing allocations dynamically based on credit spreads, interest rate trends, and Federal Reserve policy; it generates additional income through weekly-rebalanced put spreads, selling 5% out-of-the-money puts and buying 8% out-of-the-money puts to limit downside risk while harvesting premiums classified largely as return of capital for tax efficiency. HYBI operates within the fixed income segment of the exchange-traded funds industry, targeting income-focused investors seeking alternatives to traditional high-yield credit with lower volatility and enhanced tax advantages, and is listed on NASDAQ with a net expense ratio of 0.68%. Launched as an ETF on September 30, 2024, following the conversion of the WSTCM Credit Select Risk-Managed Fund (a mutual fund operational since 2014), HYBI carries forward the predecessor's performance history and is issued by NEOS Investments LLC, founded in 2022 and headquartered in Westport, Connecticut. NEOS Investments specializes in options-based income ETFs across equity, fixed income, crypto, commodities, and real estate segments, including SPYI (S&P 500 High Income ETF), QQQI (Nasdaq-100 High Income ETF), BNDI (Enhanced Income Aggregate Bond ETF), and BTCI (Bitcoin High Income ETF), all emphasizing tax-efficient strategies via Section 1256 contracts and return-of-capital distributions; the firm operates primarily in the United States. In December 2024, NEOS Investments received a strategic investment from Aretex Capital Partners along with key ETF industry executives Andrew Feller, David Badham, and Tom Lydon to bolster growth and client education on options-based income strategies. The firm continues monthly distribution announcements through 2025, with HYBI's November 2025 payout at $0.3374 per share (8.05% distribution rate, 61% estimated return of capital), and maintains a suite expansion with new launches like NIHI (MSCI EAFE High Income ETF) in September 2025 and NLSI (Long/Short Equity Income ETF) in December 2025. As of December 2025, HYBI manages approximately $182 million in net assets.