The NEOS Real Estate High Income ETF’s monthly distributions fell from $0.51 to $0.45, but 9% YTD price gains compensate for the decline.
The NEOS Real Estate High Income ETF (IYRI) now yields 10.9%, down from earlier levels, as monthly payouts slipped from $0.51 in early 2025 to $0.45 in 2026. The fund’s yield relies heavily on call option premiums, with its underlying REIT index yielding only about 2%.
IYRI’s strategy involves writing call options against the Dow Jones U.S. Real Estate Capped Index, generating income from both REIT dividends and option premiums. Despite the payout decline, the fund’s 9% year-to-date price gains have offset the drop without eroding net asset value.
Investors focused on price appreciation may prefer IYR, which offers lower-yield but cleaner REIT exposure. Welltower, a top holding at roughly 11%, dominates the portfolio, though it was excluded from a recent analyst’s top AI stock picks.