According to CoinMeta, Neos S &P 500 High Yield ETF ( SPYI ) has released two yield figures, which are 12% and 0.47% respectively. Both the 12% distribution rate and the 0.47% SEC yield are considered correct. However, the SEC formula excludes option premiums, which are also a major source of income for SPYI. Currently, the VIX index is at the 12th percentile, compressing the call option premiums of SPY and threatening SPYI's ability to maintain its distributions. The distribution rate of SPYI is close to 11.78%, while the 30-day yield of SEC is 0.47%. The difference between these two figures stems from their definitions; the SEC formula is designed for portfolios that aim to earn bonds and dividends, whereas SPYI does not generate profits in this manner. The earnings of SPYI mainly come from selling call options. Investors need to pay attention to the practical significance of these two yields when making choices regarding SPYI.