# EDGAR Filing Document

**Accession Number:** 0001848758
**File Stem:** 0001133228-26-001366
**Filing Date:** 2026-2
**Character Count:** 98544
**Document Hash:** 01628d1318c63d2969879902f5908e67
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001133228-26-001366.hdr.sgml**: 20260204

**ACCESSION NUMBER**: 0001133228-26-001366

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 26

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260204

**DATE AS OF CHANGE**: 20260204

**EFFECTIVENESS DATE**: 20260204

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NEOS ETF Trust
- **CENTRAL INDEX KEY:** 0001848758

**ORGANIZATION NAME:**
- **EIN:** 861805230
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23645
- **FILM NUMBER:** 26599338

**BUSINESS ADDRESS:**
- **STREET 1:** 13 RIVERSIDE AVE
- **CITY:** WESTPORT
- **STATE:** CT
- **ZIP:** 06880
- **BUSINESS PHONE:** 914.443.5008

**MAIL ADDRESS:**
- **STREET 1:** 13 RIVERSIDE AVE
- **CITY:** WESTPORT
- **STATE:** CT
- **ZIP:** 06880

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SHP ETF Trust
- **DATE OF NAME CHANGE:** 20210302

## Series and Classes Contracts Data

### FIS Christian Stock Fund (Series ID: S000075169)

| Class ID   | Class Name               | Ticker Symbol   |
|:---|:---|:---|
| C000234008 | FIS Christian Stock Fund | PRAY            |

### FIS Bright Portfolios Focused Equity ETF (Series ID: S000089423)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000255956 | FIS Bright Portfolios Focused Equity ETF |  |

?xml version='1.0' encoding='ASCII'? 2025-09-30193440_FISBrightPortfoliosFocusedEquityETF_TF_TSRSemiAnnual

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

**FORM N-CSR**

**CERTIFIED SHAREHOLDER REPORT OF REGISTERED**

**MANAGEMENT INVESTMENT COMPANIES**

Investment Company Act file number **<u>(811-23645)</u>**

 **<u>NEOS ETF Trust</u>**

(Exact name of registrant as specified in charter)

**13 Riverside Avenue**

**<u>Westport, CT 06880</u>**

(Address of principal executive offices) (Zip code)

**Garrett Paolella, President**

**13 Riverside Avenue**

**<u>Westport, CT 06880</u>**

(Name and address of agent for service)

**<u>(203) 298-7300</u>**

Registrant's telephone number, including area code

Date of fiscal year end: **<u>May 31</u>**

Date of reporting period: **<u>November 30, 2025</u>**

**<u>Item 1. Reports to Stockholders.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The following is a copy of the report transmitted to shareholders pursuant to Rule 30e-1
 under the Investment Company Act of 1940 (17 CFR 270.30e-1).

---

| | | |
|:---|:---|:---|
| ![image](img319097_202512262106506.jpg) | **FIS Bright Portfolios Focused Equity ETF**  | ![image](img8888_202501061245217.jpg) |
| ![image](img319097_202512262106506.jpg) | BRIF (Principal U.S. Listing Exchange: NYSE Arca, Inc.) | ![image](img8888_202501061245217.jpg) |
| ![image](img319097_202512262106506.jpg) | Semi-Annual Shareholder Report \| November 30, 2025  | ![image](img8888_202501061245217.jpg) |

---

This semi-annual shareholder report contains important information about the FIS Bright Portfolios Focused Equity ETF (the "Fund") for the period of June 1, 2025, to November 30, 2025. You can find additional information about the Fund at https://faithinvestorservices.com/etfs/brif/. You can also request this information by contacting us at 1-833-833-1311.

**WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund Name** | **Costs of a $10,000** **investment** | **Costs paid as a percentage of** **a $10,000 investment** **\*** |
| FIS Bright Portfolios Focused Equity ETF | $36 | 0.65% |

---

\* Annualized

**KEY FUND STATISTICS** (as of November 30, 2025)

---

| | |
|:---|:---|
| **Net Assets** | $103620952 |
| **Number of Holdings** | 50 |
| **Net Advisory Fee** | $311501 |
| **Portfolio Turnover** | 16% |
| **30-Day SEC Yield** | 0.43% |

---

Visit https://faithinvestorservices.com/etfs/brif/ for more recent performance information.

**WHAT DID THE FUND INVEST IN?** (% of net assets as of November 30, 2025)

**Sector Breakdown** **\***

![image](ts6192img003.jpg)

---

| | |
|:---|:---|
| **Top 10 Issuers** |  |
|  NVIDIA Corp.  | 7.1% |
|  Broadcom, Inc.  | 5.7% |
|  Cisco Systems, Inc.  | 5.1% |
|  Palo Alto Networks, Inc.  | 4.6% |
|  Eli Lilly & Co.  | 3.7% |
|  Linde PLC  | 3.6% |
|  Arista Networks, Inc.  | 3.6% |
|  First American Treasury Obligations Fund  | 3.1% |
|  AbbVie, Inc.  | 2.9% |
|  Coca-Cola Consolidated, Inc.  | 2.7% |

---

**Geographic Breakdown**

![image](ts6192img004.jpg)

\* The Global Industry Classification Standard ("GICS®") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS® is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.

For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit https://faithinvestorservices.com/etfs/brif/.

FIS Bright Portfolios Focused Equity ETF PAGE 1 TSR-SAR-78433H626

------

**HOUSEHOLDING**

To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Faith Investor Services, LLC documents not be householded, please contact Faith Investor Services, LLC at 1-833-833-1311, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Faith Investor Services, LLC or your financial intermediary.

FIS Bright Portfolios Focused Equity ETF PAGE 2 TSR-SAR-78433H626

------

---

| | | |
|:---|:---|:---|
| ![image](img1327_202501151736549.jpg) | **FIS Christian Stock Fund**  | ![image](img8888_202501061245217.jpg) |
| ![image](img1327_202501151736549.jpg) | PRAY (Principal U.S. Listing Exchange: NYSE Arca, Inc.) | ![image](img8888_202501061245217.jpg) |
| ![image](img1327_202501151736549.jpg) | Semi-Annual Shareholder Report \| November 30, 2025  | ![image](img8888_202501061245217.jpg) |

---

This semi-annual shareholder report contains important information about the FIS Christian Stock Fund (the "Fund") for the period of June 1, 2025, to November 30, 2025. You can find additional information about the Fund at https://faithinvestorservices.com/pray/. You can also request this information by contacting us at 1-833-833-1311.

**WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund Name** | **Costs of a $10,000** **investment** | **Costs paid as a percentage of** **a $10,000 investment** **\*** |
| FIS Christian Stock Fund | $35 | 0.68% |

---

\* Annualized

**KEY FUND STATISTICS** (as of November 30, 2025)

---

| | |
|:---|:---|
| **Net Assets** | $71146977 |
| **Number of Holdings** | 74 |
| **Net Advisory Fee** | $242839 |
| **Portfolio Turnover** | 4% |
| **30-Day SEC Yield** | 0.70% |

---

Visit https://faithinvestorservices.com/pray/ for more recent performance information.

**WHAT DID THE FUND INVEST IN?** (% of net assets as of November 30, 2025)

**Sector Breakdown** **\***

![image](ts6191img003.jpg)

---

| | |
|:---|:---|
| **Top 10 Issuers** |  |
|  NVIDIA Corp.  | 6.0% |
|  Casey's General Stores, Inc.  | 3.6% |
|  First American Treasury Obligations Fund  | 3.2% |
|  Palo Alto Networks, Inc.  | 3.1% |
|  Intuitive Surgical, Inc.  | 3.1% |
|  Taiwan Semiconductor Manufacturing Co. Ltd.  | 2.9% |
|  Toll Brothers, Inc.  | 2.7% |
|  Broadcom, Inc.  | 2.6% |
|  SBM Offshore NV  | 2.6% |
|  HCA Healthcare, Inc.  | 2.4% |

---

**Geographic Breakdown**

![image](ts6191img004.jpg)

\* The Global Industry Classification Standard ("GICS®") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS® is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.

For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit https://faithinvestorservices.com/pray/.

FIS Christian Stock Fund PAGE 1 TSR-SAR-78433H204

------

**HOUSEHOLDING**

To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Faith Investor Services, LLC documents not be householded, please contact Faith Investor Services, LLC at 1-833-833-1311, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Faith Investor Services, LLC or your financial intermediary.

FIS Christian Stock Fund PAGE 2 TSR-SAR-78433H204

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Not applicable.

**<u>Item 2. Code of Ethics.</u>**

Not applicable for semi-annual reports.

**<u>Item 3. Audit Committee Financial Expert.</u>**

Not applicable for semi-annual reports.

**<u>Item 4. Principal Accountant Fees and Services.</u>**

Not applicable for semi-annual reports.

**<u>Item 5. Audit Committee of Listed Registrants.</u>**

Not applicable for semi-annual reports.

**<u>Item 6. Investments.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;(a) Schedule of Investments is included within the financial statements filed under Item 7(a)
 of this Form.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Not Applicable.

**<u>Item 7. Financial Statements and Financial Highlights for Open-End Investment Companies.</u>**

(a) The registrant's Financial Statements are filed herewith.

![](fis_logo.jpg)

**Semi-Annual Financial Statements and** 

**Additional Information** 

**November 30, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| FIS Bright Portfolios Focused Equity ETF | \| BRIF | \| NYSE Arca, Inc.  |
| FIS Christian Stock Fund | \| PRAY | \| NYSE Arca, Inc. |

---

------

**TABLE OF CONTENTS** 

---

| | |
|:---|:---|
|  | **Page**  |
| [Schedules of Investments](#sch001) <br>|  |
| &nbsp;&nbsp;&nbsp; [FIS Bright Portfolios Focused Equity ETF](#tsoi1) | [1](#tsoi1) |
| &nbsp;&nbsp;&nbsp; [FIS Christian Stock Fund](#tsoi2) | [3](#tsoi2) |
| [Statements of Assets and Liabilities](#tsal) | [5](#tsal) |
| [Statements of Operations](#tsop) | [6](#tsop) |
| [Statements of Changes in Net Assets](#tscna) | [7](#tscna) |
| [Financial Highlights](#fis001)<br>|  |
| &nbsp;&nbsp;&nbsp; [FIS Bright Portfolios Focused Equity ETF](#tfihi1) | [8](#tfihi1) |
| &nbsp;&nbsp;&nbsp; [FIS Christian Stock Fund](#tfihi2) | [9](#tfihi2) |
| [Notes to Financial Statements](#tnotes) | [10](#tnotes) |
| [Other Non-Audited Information](#tother) | [17](#tother) |
| [Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#item8) | [18](#item8) |
| [Proxy Disclosures for Open-End Management Investment Companies](#item9) | [19](#item9) |
| [Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies](#item10) | [20](#item10) |
| [Statement Regarding Basis for Approval of Investment Advisory Contract](#item11) | [21](#item11) |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

**FIS Bright Portfolios Focused Equity ETF** 

**Schedule of Investments** 

**November 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS - 96.9%**<br>|  |  |
| **Automobiles - 1.9%**<br>|  |  |
| Tesla, Inc.<sup>(a)</sup> | 4674 | $2010615  |
| **Beverages - 2.7%**<br>|  |  |
| Coca-Cola Consolidated, Inc.  | 17281 | 2815939  |
| **Biotechnology - 5.9%**<br>|  |  |
| AbbVie, Inc.  | 13218 | 3009739  |
| Amgen, Inc.  | 4302 | 1486169  |
| Vertex Pharmaceuticals, Inc.<sup>(a)</sup> | 3687 | 1598720  |
|  |  | 6094628  |
| **Capital Markets - 3.8%**<br>|  |  |
| Moody's Corp.  | 4001 | 1963611  |
| S&P Global, Inc.  | 3926 | 1958406  |
|  |  | 3922017  |
| **Chemicals - 4.8%**<br>|  |  |
| DuPont de Nemours, Inc.  | 32812 | 1304933  |
| Linde PLC  | 9055 | 3715448  |
|  |  | 5020381  |
| **Commercial Services & Supplies - 1.8%** | **Commercial Services & Supplies - 1.8%** |  |
| Waste Management, Inc.  | 8412 | 1832722  |
| **Communications Equipment - 8.6%**<br>|  |  |
| Arista Networks, Inc.<sup>(a)</sup> | 28170 | 3681256  |
| Cisco Systems, Inc.  | 68100 | 5239614  |
|  |  | 8920870  |
| **Consumer Staples Distribution & Retail - 0.6%** | **Consumer Staples Distribution & Retail - 0.6%** |  |
| Costco Wholesale Corp.  | 678 | 619414  |
| **Electric Utilities - 0.8%**<br>|  |  |
| NRG Energy, Inc.  | 4945 | 838128  |
| **Electrical Equipment - 2.6%**<br>|  |  |
| Eaton Corp. PLC  | 5819 | 2012734  |
| Vertiv Holdings Co. - Class A  | 3646 | 655295  |
|  |  | 2668029  |
| **Ground Transportation - 2.8%**<br>|  |  |
| Old Dominion Freight Line, Inc.  | 3534 | 478115  |
| Uber Technologies, Inc.<sup>(a)</sup> | 28171 | 2466089  |
|  |  | 2944204  |
| **Health Care Equipment & Supplies - 4.4%** | **Health Care Equipment & Supplies - 4.4%** |  |
| Abbott Laboratories  | 19884 | 2563048  |
| Stryker Corp.  | 5275 | 1957974  |
|  |  | 4521022  |
| **Health Care Providers & Services - 1.1%** | **Health Care Providers & Services - 1.1%** |  |
| DaVita, Inc.<sup>(a)</sup> | 9367 | 1121043  |
|  **Independent Power and Renewable Electricity Producers - 1.7%**<br>|  |  |
| Vistra Corp.  | 9961 | 1781624  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **Insurance - 6.5%**<br>|  |  |
| Allstate Corp.  | 9275 | $1975390  |
| Chubb Ltd.  | 4556 | 1349396  |
| Travelers Cos., Inc.  | 4668 | 1367070  |
| W R Berkley Corp.  | 25659 | 1993448  |
|  |  | 6685304  |
| **Machinery - 6.2%**<br>|  |  |
| Caterpillar, Inc.  | 4446 | 2559829  |
| Cummins, Inc.  | 5377 | 2677638  |
| Illinois Tool Works, Inc.  | 4739 | 1181338  |
|  |  | 6418805  |
| **Metals & Mining - 1.4%**<br>|  |  |
| Nucor Corp.  | 8791 | 1402077  |
| **Oil, Gas & Consumable Fuels - 3.1%**<br>|  |  |
| EOG Resources, Inc.  | 4840 | 521994  |
| EQT Corp.  | 11166 | 679563  |
| Exxon Mobil Corp.  | 11721 | 1358698  |
| Targa Resources Corp.  | 3504 | 614286  |
|  |  | 3174541  |
| **Pharmaceuticals - 3.7%**<br>|  |  |
| Eli Lilly & Co.  | 3574 | 3843730  |
|  **Semiconductors & Semiconductor Equipment - 16.2%**<br>|  |  |
| Advanced Micro Devices, Inc.<sup>(a)</sup> | 6556 | 1426127  |
| ASML Holding NV  | 736 | 780160  |
| Broadcom, Inc.  | 14777 | 5954540  |
| NVIDIA Corp.  | 41393 | 7326561  |
| Qnity Electronics, Inc.  | 16406 | 1330362 |
|  |  | 16817750 |
| **Software - 11.1%**<br>|  |  |
| Adobe, Inc.<sup>(a)</sup> | 3575 | 1144465  |
| &nbsp;&nbsp;&nbsp; Crowdstrike Holdings, Inc. - <br>Class A<sup>(a)</sup> | 1367 | 696022  |
| Oracle Corp.  | 11564 | 2335350  |
| Palo Alto Networks, Inc.<sup>(a)</sup> | 25285 | 4807437  |
| Salesforce, Inc.  | 5038 | 1161460  |
| ServiceNow, Inc.<sup>(a)</sup> | 1681 | 1365661  |
|  |  | 11510395  |
| **Specialty Retail - 4.6%**<br>|  |  |
| O'Reilly Automotive, Inc.<sup>(a)</sup> | 19742 | 2007761  |
| TJX Cos., Inc.  | 17991 | 2733193  |
|  |  | 4740954  |
|  **Technology Hardware, Storage & Peripherals - 0.6%**<br>|  |  |
| Dell Technologies, Inc. - Class C  | 5023 | 669817  |
| &nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>**(Cost $85,366,194)** |  | 100374009 |

---

The accompanying notes are an integral part of these financial statements.

1<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**FIS Bright Portfolios Focused Equity ETF** 

**Schedule of Investments** 

**November 30, 2025 (Unaudited)(Continued)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **SHORT-TERM INVESTMENTS**<br>|  |  |
| **MONEY MARKET FUNDS - 3.1%**<br>|  |  |
|  First American Treasury Obligations Fund - Class X, 3.91%<sup>(b)</sup> | 3225507 | $3225507  |
| &nbsp;&nbsp;&nbsp; **TOTAL MONEY MARKET FUNDS** <br>**(Cost $3,225,507)** |  | 3225507 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS - 100.0%** <br>**(Cost $88,591,701)** |  | $103599516  |
| &nbsp;&nbsp;&nbsp; Other Assets in Excess of <br>Liabilities - 0.0%<sup>(c)</sup> |  | 21436  |
| **TOTAL NET ASSETS - 100.0%** |  | $103620952 |

---

Percentages are stated as a percent of net assets.

The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.

PLC - Public Limited Company

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> The rate shown represents the 7-day annualized yield as of November 30, 2025.

<sup>(c)</sup> Represents less than 0.05% of net assets. 

The accompanying notes are an integral part of these financial statements.

2<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**FIS Christian Stock Fund** 

**Schedule of Investments** 

**November 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS - 94.6%**<br>|  |  |
| **Aerospace & Defense - 1.2%**<br>|  |  |
| Axon Enterprise, Inc.<sup>(a)</sup> | 484 | $261428  |
| Huntington Ingalls Industries, Inc.  | 1834 | 575179 |
|  |  | 836607 |
| **Automobiles - 0.1%**<br>|  |  |
| Dr. Ing. h.c.F. Porsche AG - ADR  | 11027 | 56480  |
| **Banks - 2.5%**<br>|  |  |
| Danske Bank AS - ADR  | 37052 | 854048  |
|  Sumitomo Mitsui Financial Group, Inc. - ADR  | 49176 | 895987  |
|  |  | 1750035  |
| **Capital Markets - 2.3%**<br>|  |  |
| Blue Owl Capital, Inc. - Class A  | 36549 | 548235  |
| Intercontinental Exchange, Inc.  | 7013 | 1103145  |
|  |  | 1651380  |
| **Commercial Services & Supplies - 3.6%**<br>|  |  |
| GFL Environmental, Inc.  | 36741 | 1670613  |
| Republic Services, Inc.  | 3963 | 860209  |
|  |  | 2530822  |
| **Construction & Engineering - 2.0%**<br>|  |  |
| Comfort Systems USA, Inc.  | 1452 | 1418517  |
| **Construction Materials - 2.2%**<br>|  |  |
| Holcim AG  | 82950 | 1551165  |
| **Consumer Staples Distribution & Retail - 5.3%** | **Consumer Staples Distribution & Retail - 5.3%** |  |
| Casey's General Stores, Inc.  | 4480 | 2555661  |
| Costco Wholesale Corp.  | 1190 | 1087172  |
| Sprouts Farmers Market, Inc.<sup>(a)</sup> | 1936 | 162256  |
|  |  | 3805089  |
| **Containers & Packaging - 1.0%**<br>|  |  |
| Graphic Packaging Holding Co.  | 44800 | 724864  |
| **Diversified Consumer Services - 1.0%**<br>|  |  |
| Grand Canyon Education, Inc.<sup>(a)</sup> | 4733 | 746583  |
| **Diversified Telecommunication Services - 0.5%** | **Diversified Telecommunication Services - 0.5%** |  |
| Cellnex Telecom SA - ADR  | 22177 | 331324  |
| **Electric Utilities - 2.0%**<br>|  |  |
| American Electric Power Co., Inc.  | 7031 | 870227  |
| NextEra Energy, Inc.  | 6760 | 583320  |
|  |  | 1453547  |
|  **Electronic Equipment, Instruments & Components - 0.9%**<br>|  |  |
| Trimble, Inc.<sup>(a)</sup> | 7855 | 639554  |
| **Energy Equipment & Services - 3.9%**<br>|  |  |
| SBM Offshore NV  | 64597 | 1842716  |
| Tenaris SA - ADR  | 22873 | 919952  |
|  |  | 2762668  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **Financial Services - 2.3%**<br>|  |  |
| Corpay, Inc.<sup>(a)</sup> | 2519 | $745120  |
| Equitable Holdings, Inc.  | 19724 | 920914  |
|  |  | 1666034  |
| **Food Products - 1.1%**<br>|  |  |
| Bunge Global SA  | 8301 | 797477  |
| **Ground Transportation - 1.5%**<br>|  |  |
| Canadian Pacific Kansas City Ltd.  | 7840 | 568949  |
| Old Dominion Freight Line, Inc.  | 3714 | 502467  |
|  |  | 1071416  |
| **Health Care Equipment & Supplies - 5.0%** | **Health Care Equipment & Supplies - 5.0%** |  |
| Edwards Lifesciences Corp.<sup>(a)</sup> | 7392 | 640665  |
| Intuitive Surgical, Inc.<sup>(a)</sup> | 3842 | 2203310  |
| Stryker Corp.  | 1834 | 680744  |
|  |  | 3524719  |
| **Health Care Providers & Services - 3.0%** | **Health Care Providers & Services - 3.0%** |  |
| HCA Healthcare, Inc.  | 3420 | 1738352  |
| Quest Diagnostics, Inc.  | 1936 | 366252  |
|  |  | 2104604  |
| **Hotels, Restaurants & Leisure - 1.0%**<br>|  |  |
| Domino's Pizza, Inc.  | 1623 | 681060  |
| **Household Durables - 4.0%**<br>|  |  |
| Lennar Corp. - Class A  | 6790 | 891527  |
| Toll Brothers, Inc.  | 13770 | 1925459  |
|  |  | 2816986  |
| **Insurance - 4.6%**<br>|  |  |
| Aflac, Inc.  | 8556 | 943812  |
| AIA Group Ltd. - ADR  | 22441 | 936239  |
| Everest Re Group Ltd.  | 2069 | 650266  |
| Progressive Corp.  | 3380 | 773310  |
|  |  | 3303627  |
| **IT Services - 1.0%**<br>|  |  |
|  Cognizant Technology Solutions Corp. - Class A  | 9454 | 734670  |
| **Life Sciences Tools & Services - 1.0%**<br>|  |  |
| Danaher Corp.  | 3211 | 728191  |
| **Machinery - 4.7%**<br>|  |  |
| Caterpillar, Inc.  | 1705 | 981671  |
| Deere & Co.  | 1705 | 791955  |
| Oshkosh Corp.  | 4447 | 570017  |
| Parker-Hannifin Corp.  | 1140 | 982338  |
|  |  | 3325981  |
| **Media - 0.5%**<br>|  |  |
| Trade Desk, Inc. - Class A<sup>(a)</sup> | 8212 | 324867  |
| **Metals & Mining - 0.8%**<br>|  |  |
| Freeport-McMoRan, Inc.  | 13530 | 581519  |

---

The accompanying notes are an integral part of these financial statements.

3<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**FIS Christian Stock Fund** 

**Schedule of Investments** 

**November 30, 2025 (Unaudited)(Continued)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS - (Continued)** | **COMMON STOCKS - (Continued)** | **COMMON STOCKS - (Continued)** |
| **Multi-Utilities - 1.6%**<br>|  |  |
| Engie SA - ADR  | 45939 | $1170526  |
| **Oil, Gas & Consumable Fuels - 1.5%**<br>|  |  |
| ConocoPhillips  | 6132 | 543847  |
| EOG Resources, Inc.  | 4712 | 508189  |
|  |  | 1052036  |
| **Pharmaceuticals - 0.8%**<br>|  |  |
| Zoetis, Inc.  | 4718 | 604753  |
| **Professional Services - 0.8%**<br>|  |  |
| FTI Consulting, Inc.<sup>(a)</sup> | 3507 | 572167  |
|  **Semiconductors & Semiconductor Equipment - 11.6%**<br>|  |  |
| Broadcom, Inc.  | 4676 | 1884241  |
| NVIDIA Corp.  | 24234 | 4289418  |
|  Taiwan Semiconductor Manufacturing Co. Ltd. - ADR  | 7014 | 2044651  |
|  |  | 8218310  |
| **Software - 8.6%**<br>|  |  |
| &nbsp;&nbsp;&nbsp; Check Point Software Technologies <br>Ltd.<sup>(a)</sup> | 6049 | 1129772  |
| Datadog, Inc. - Class A<sup>(a)</sup> | 5179 | 828692  |
| Manhattan Associates, Inc.<sup>(a)</sup> | 2512 | 443242  |
| Palantir Technologies, Inc. - Class A<sup>(a)</sup> | 1260 | 212247  |
| Palo Alto Networks, Inc.<sup>(a)</sup> | 11732 | 2230605  |
| ServiceNow, Inc.<sup>(a)</sup> | 1576 | 1280358  |
|  |  | 6124916  |
| **Specialty Retail - 3.1%**<br>|  |  |
| O'Reilly Automotive, Inc.<sup>(a)</sup> | 10791 | 1097445  |
| Tractor Supply Co.  | 17628 | 965662  |
| Valvoline, Inc.<sup>(a)</sup> | 5000 | 156550  |
|  |  | 2219657  |
|  **Technology Hardware, Storage & Peripherals - 2.3%**<br>|  |  |
| FUJIFILM Holdings Corp.<sup>(a)</sup> - ADR  | 70731 | 757529  |
| NetApp, Inc.  | 7622 | 850310  |
|  |  | 1607839  |
| **Textiles, Apparel & Luxury Goods - 0.8%** | **Textiles, Apparel & Luxury Goods - 0.8%** |  |
| Hermes International SCA - ADR  | 2420 | 590190  |
| **Trading Companies & Distributors - 1.6%** | **Trading Companies & Distributors - 1.6%** |  |
| United Rentals, Inc.  | 1388 | 1131470  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **Wireless Telecommunication Services - 2.9%** | **Wireless Telecommunication Services - 2.9%** |  |
| Tele2 AB - Class B  | 36960 | $588586  |
| TIM SA/Brazil - ADR  | 63308 | 1486472  |
|  |  | 2075058  |
| &nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>**(Cost $51,149,687)** |  | 67286708  |
|  **REAL ESTATE INVESTMENT TRUSTS - COMMON - 1.8%** | **REAL ESTATE INVESTMENT TRUSTS - COMMON - 1.8%** |  |
| **Health Care REITs - 1.0%**<br>|  |  |
| Welltower, Inc.  | 3380 | 703783  |
| **Specialized REITs - 0.8%**<br>|  |  |
| American Tower Corp.  | 2688 | 487254  |
| Millrose Properties, Inc. – Class A | 3365 | 102498  |
|  |  | 589752  |
| &nbsp;&nbsp;&nbsp; **TOTAL REAL ESTATE INVESTMENT TRUSTS - COMMON** <br>**(Cost $1,101,264)** |  | 1293535 |
| **SHORT-TERM INVESTMENTS**<br>|  |  |
| **MONEY MARKET FUNDS - 3.2%**<br>|  |  |
| &nbsp;&nbsp;&nbsp; First American Treasury Obligations <br>Fund - Class X, 3.91%<sup>(b)</sup> | 2275894 | 2275894  |
| &nbsp;&nbsp;&nbsp; **TOTAL MONEY MARKET FUNDS** <br>**(Cost $2,275,894)** |  | 2275894  |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS - 99.6%** <br>**(Cost $54,526,845)** |  | $70856137  |
| &nbsp;&nbsp;&nbsp; Other Assets in Excess of <br>Liabilities - 0.4%  |  | 290840  |
| **TOTAL NET ASSETS - 100.0%** |  | $71146977 |

---

Percentages are stated as a percent of net assets.

The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.

ADR - American Depositary Receipt

REIT - Real Estate Investment Trust

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> The rate shown represents the 7-day annualized yield as of November 30, 2025.

The accompanying notes are an integral part of these financial statements.

4<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**STATEMENTS OF ASSETS AND LIABILITIES** 

**November 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
|  | **FIS Bright** <br>**Portfolios Focused** <br>**Equity ETF** | **FIS** <br>**Christian** <br>**Stock Fund**  |
| **ASSETS:**<br>|  |  |
| Investments, at value | $103599516 | $70856137  |
| Foreign currency, at value |  | 233059  |
| Dividends receivable | 75948 | 76332  |
| Dividend tax reclaims receivable |  | 20987  |
| &nbsp;&nbsp;&nbsp; **Total assets** | 103675464 | 71186515  |
| **LIABILITIES:**<br>|  |  |
| Payable to adviser | 54512 | 39538  |
| &nbsp;&nbsp;&nbsp; **Total liabilities** | 54512 | 39538  |
| **NET ASSETS** | $103620952 | $71146977  |
| **Net Assets Consists of:**<br>|  |  |
| Paid-in capital | $85896741 | $57075398  |
| Total distributable earnings | 17724211 | 14071579  |
| &nbsp;&nbsp;&nbsp; **Total net assets** | $103620952 | $71146977  |
| Net assets | $103620952 | $71146977  |
| Shares issued and outstanding<sup>(a)</sup> | 3392000 | 2240000  |
| Net asset value per share | $30.55 | $31.76  |
| **Cost:**<br>|  |  |
| &nbsp;&nbsp;&nbsp; Investments, at cost | $88591701 | $54526845  |
| &nbsp;&nbsp;&nbsp; Foreign currency, at cost | $— | $218870 |

---

<sup>(a)</sup> Unlimited shares authorized without par value.

The accompanying notes are an integral part of these financial statements.

5<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**STATEMENTS OF OPERATIONS** 

**For the Period Ended November 30, 2025 (Unaudited)** 

---

| | | |
|:---|:---|:---|
|  | **FIS Bright** <br>**Portfolios Focused** <br>**Equity ETF** | **FIS** <br>**Christian** <br>**Stock Fund**  |
| **INVESTMENT INCOME:** <br>|  |  |
| Dividend income | &nbsp;&nbsp; $553648 | $377574  |
| Dividend withholding taxes | &nbsp;&nbsp; (204) | (10946)  |
| &nbsp;&nbsp;&nbsp; **Total investment income** | &nbsp;&nbsp; 553444 | 366628  |
| **EXPENSES:** <br>|  |  |
| Investment advisory fee | &nbsp;&nbsp; 311501 | 242839  |
| &nbsp;&nbsp;&nbsp; **Total expenses** | &nbsp;&nbsp; 311501 | 242839  |
| **Net investment income** | &nbsp;&nbsp; 241943 | 123789  |
| **REALIZED AND UNREALIZED GAIN (LOSS)** <br>|  |  |
| Net realized gain (loss) from: <br>|  |  |
| &nbsp;&nbsp;&nbsp; Investments | &nbsp;&nbsp; (1160157) | 34987  |
| &nbsp;&nbsp;&nbsp; In-kind redemptions | &nbsp;&nbsp; 4712239 | 1032229  |
| Net realized gain (loss) | &nbsp;&nbsp; 3552082 | 1067216  |
| Net change in unrealized appreciation (depreciation) on: <br>|  |  |
| &nbsp;&nbsp;&nbsp; Investments | &nbsp;&nbsp; 11603281<sup>(a)</sup> | 3722292  |
| &nbsp;&nbsp;&nbsp; Foreign currency translation | &nbsp;&nbsp; — | 4851  |
| Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp; 11603281 | 3727143  |
| **Net realized and unrealized gain (loss)** | &nbsp;&nbsp; 15155363 | 4794359  |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS** | &nbsp;&nbsp; $15397306 | $4918148 |

---

<sup>(a)</sup> See Note 11 in Notes to Financial Statements.

The accompanying notes are an integral part of these financial statements.

6<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**STATEMENTS OF CHANGES IN NET ASSETS** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **FIS Bright Portfolios Focused** <br>**Equity ETF** | **FIS Bright Portfolios Focused** <br>**Equity ETF** | **FIS Christian Stock Fund**  | **FIS Christian Stock Fund**  |
|  | **Period Ended** <br>**November 30,** <br>**2025** <br>(Unaudited) | **Period Ended** <br>**May 31, 2025<sup>(a)</sup>**  | **Period Ended** <br>**November 30,** <br>**2025** <br>(Unaudited) | **Year Ended** <br>**May 31, 2025**  |
| **OPERATIONS:**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | $241943 | $248850 | $123789 | $558706  |
| &nbsp;&nbsp;&nbsp; Net realized gain (loss) | 3552082 | 4294428 | 1067216 | (513889)  |
| &nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) | 11603281 | (1903243) | 3727143 | 4997174  |
| &nbsp;&nbsp;&nbsp; **Net increase (decrease) in net assets from operations** | 15397306 | 2640035 | 4918148 | 5041991  |
| **DISTRIBUTIONS TO SHAREHOLDERS:** <br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; From distributable earnings |  | (7759) |  | (477653)  |
| &nbsp;&nbsp;&nbsp; **Total distributions to shareholders** |  | (7759) |  | (477653)  |
| **CAPITAL TRANSACTIONS:** <br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Subscriptions | 19676520 | 117269463<sup>(b)</sup> | 622310 | 11507937  |
| &nbsp;&nbsp;&nbsp; Redemptions | (16179347) | (35175266) | (3113434) | (889767)  |
| &nbsp;&nbsp;&nbsp; **Net increase (decrease) in net assets from capital transactions** | 3497173 | 82094197 | (2491124) | 10618170  |
| **Net increase (decrease) in net assets** | 18894479 | 84726473 | 2427024 | 15182508  |
| **NET ASSETS:**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Beginning of the period | 84726473 |  | 68719953 | 53537445  |
| &nbsp;&nbsp;&nbsp; End of the period | $103620952 | $84726473 | $71146977 | $68719953  |
| **SHARES TRANSACTIONS:**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Subscriptions | 690000 | 4662000 | 20000 | 390000  |
| &nbsp;&nbsp;&nbsp; Redemptions | (570000) | (1390000) | (100000) | (30000)  |
| &nbsp;&nbsp;&nbsp; **Total increase (decrease) in shares outstanding** | 120000 | 3272000 | (80000) | 360000 |

---

<sup>(a)</sup> Inception date of the Fund was December 20, 2024.

<sup>(b)</sup> See Note 11 in Notes to Financial Statements.

The accompanying notes are an integral part of these financial statements.

7<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**FIS BRIGHT PORTFOLIOS FOCUSED EQUITY ETF** 

**FINANCIAL HIGHLIGHTS** 

---

| | | |
|:---|:---|:---|
|  | **Period Ended** <br>**November 30,** <br>**2025** <br>(Unaudited) | **Period Ended** <br>**May 31, 2025<sup>(a)</sup>**  |
| **PER SHARE DATA:**<br>|  |  |
| Net asset value, beginning of period | &nbsp;&nbsp; $25.89 | &nbsp;&nbsp;&nbsp; $25.00  |
| **INVESTMENT OPERATIONS:** <br>|  |  |
| Net investment income<sup>(b)</sup> | 0.07 | &nbsp;&nbsp;&nbsp;&nbsp;0.09  |
| Net realized and unrealized gain (loss) on investments<sup>(c)</sup> | 4.59 | &nbsp;&nbsp;&nbsp;&nbsp;0.81  |
| **Total from investment operations** | 4.66 | &nbsp;&nbsp;&nbsp;&nbsp;0.90  |
| **LESS DISTRIBUTIONS FROM:** <br>|  |  |
| Net investment income | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.01)  |
| **Total distributions** | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (0.01)  |
| **Net asset value, end of period** | &nbsp;&nbsp; $30.55 | &nbsp;&nbsp;&nbsp; $25.89  |
| Total return<sup>(d)</sup> | &nbsp;&nbsp; 17.97% | &nbsp;&nbsp;&nbsp; 3.61%  |
| **SUPPLEMENTAL DATA AND RATIOS:** <br>|  |  |
| Net assets, end of period (in thousands) | &nbsp;&nbsp; $103621 | &nbsp;&nbsp;&nbsp; $84726  |
| Ratio of expenses to average net assets<sup>(e)</sup> | &nbsp;&nbsp; 0.65% | &nbsp;&nbsp;&nbsp; 0.65%  |
| Ratio of net investment income (loss) to average net assets<sup>(e)</sup> | &nbsp;&nbsp; 0.50% | &nbsp;&nbsp;&nbsp; 0.77%  |
| Portfolio turnover rate<sup>(d)(f)</sup> | &nbsp;&nbsp; 16% | &nbsp;&nbsp;&nbsp; 34% |

---

<sup>(a)</sup> Inception date of the Fund was December 20, 2024.

<sup>(b)</sup> Net investment income per share has been calculated based on average shares outstanding during the period.

<sup>(c)</sup> Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods, and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.

<sup>(d)</sup> Not annualized for periods less than one year.

<sup>(e)</sup> Annualized for periods less than one year.

<sup>(f)</sup> Portfolio turnover rate excludes in-kind transactions.

The accompanying notes are an integral part of these financial statements.

8<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**FIS CHRISTIAN STOCK FUND** 

**FINANCIAL HIGHLIGHTS** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Period Ended** <br>**November 30,** <br>**2025** <br>(Unaudited) | **Year Ended May 31,** | **Year Ended May 31,** | **Year Ended May 31,** | **Period Ended** <br>**May 31, 2022<sup>(a)</sup>**  |
|  | **Period Ended** <br>**November 30,** <br>**2025** <br>(Unaudited) | **2025** | **2024** | **2023**  | **Period Ended** <br>**May 31, 2022<sup>(a)</sup>**  |
| **PER SHARE DATA:**<br>|  |  |  |  |  |
| Net asset value, beginning of period | &nbsp;&nbsp; $29.62 | $27.32 | $22.49 | $23.29 | &nbsp;&nbsp;&nbsp; $25.00  |
| **INVESTMENT OPERATIONS:** <br>|  |  |  |  |  |
| Net investment income<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;0.05 | 0.26 | 0.28 | 0.26 | &nbsp;&nbsp;&nbsp;&nbsp;0.16  |
|  Net realized and unrealized gain (loss) on investments<sup>(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;2.09 | 2.26 | 4.76 | (0.80) | &nbsp;&nbsp;&nbsp; (1.88)  |
| **Total from investment operations** | &nbsp;&nbsp;&nbsp;&nbsp;2.14 | 2.52 | 5.04 | (0.54) | &nbsp;&nbsp;&nbsp; (1.72)  |
| **LESS DISTRIBUTIONS FROM:** <br>|  |  |  |  |  |
| Net investment income | &nbsp;&nbsp; — | (0.22) | (0.21) | (0.26) | &nbsp;&nbsp;&nbsp; —  |
| **Total distributions** | &nbsp;&nbsp; — | (0.22) | (0.21) | (0.26) | &nbsp;&nbsp;&nbsp; —  |
| ETF transaction fees per share | &nbsp;&nbsp; — |  | 0.00<sup>(d)</sup> |  | &nbsp;&nbsp;&nbsp;&nbsp;0.01  |
| **Net asset value, end of period** | &nbsp;&nbsp; $31.76 | $29.62 | $27.32 | $22.49 | &nbsp;&nbsp;&nbsp; $23.29  |
| Total return<sup>(e)</sup> | &nbsp;&nbsp; 7.23% | 9.23% | 22.45% | -2.29% | &nbsp;&nbsp;&nbsp; -6.82%  |
| **SUPPLEMENTAL DATA AND RATIOS:**<br>|  |  |  |  |  |
| Net assets, end of period (in thousands) | &nbsp;&nbsp; $71147 | $68720 | $53537 | $22718 | &nbsp;&nbsp;&nbsp; $24460  |
| Ratio of expenses to average net assets<sup>(f)</sup> | &nbsp;&nbsp; 0.68% | 0.68% | 0.68% | 0.68% | &nbsp;&nbsp;&nbsp; 0.68%  |
|  Ratio of net investment income (loss) to average net assets<sup>(f)</sup> | &nbsp;&nbsp; 0.35% | 0.90% | 1.09% | 1.18% | &nbsp;&nbsp;&nbsp; 2.14%  |
| Portfolio turnover rate<sup>(e)(g)</sup> | &nbsp;&nbsp; 4% | 19% | 26% | 27% | &nbsp;&nbsp;&nbsp; 14% |

---

<sup>(a)</sup> Inception date of the Fund was February 8, 2022.

<sup>(b)</sup> Net investment income per share has been calculated based on average shares outstanding during the periods.

<sup>(c)</sup> Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods, and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.

<sup>(d)</sup> Amount represents less than $0.005 per share.

<sup>(e)</sup> Not annualized for periods less than one year.

<sup>(f)</sup> Annualized for periods less than one year.

<sup>(g)</sup> Portfolio turnover rate excludes in-kind transactions.

The accompanying notes are an integral part of these financial statements.

9<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**NOTES TO FINANCIAL STATEMENTS** 

**November 30, 2025 (Unaudited)** 

**NOTE 1 – ORGANIZATION** 

The NEOS ETF Trust (the "Trust") was organized as a Delaware statutory trust on February 1, 2021 and is authorized to issue multiple series or portfolios. The Trust is an open-end investment company, registered under the Investment Company Act of 1940, as amended (the "1940 Act"). The Trust currently consists of multiple operational exchange-traded funds ("ETFs"), two of which are presented herein, FIS Bright Portfolios Focused Equity ETF (the "Bright Portfolios ETF") and FIS Christian Stock Fund (the "Christian Stock Fund") (collectively, the "Funds" or individually, a "Fund"). These financial statements relate only to the Funds. The Funds are each a diversified series of the Trust. The investment objective of the Bright Portfolios ETF is to seek long term capital appreciation and the investment objective of the Christian Stock Fund is to seek long-term growth of capital and income.

The FIS Christian Stock Fund, a series of the FIS Trust, acquired all of the assets and liabilities of the FIS Christian Stock Fund, a series of NEOS ETF Trust in a tax-free reorganization on December 31, 2025. On July 18, 2025, the FIS Knights of Columbus Global Belief ETF, a former series of FIS Trust, cease to trade on the NYSE ARCA, Inc. and subsequently liquidated it assets and distributed the proceeds to its remaining shareholders.

Faith Investor Services, LLC (the "Adviser") is the investment adviser to each Fund.

Bright Portfolios, LLC acts as the sub-adviser to the Bright Portfolios ETF.

Vident Asset Management acts as the trading sub-adviser responsible for trading portfolio securities for the Bright Portfolios ETF.

Capital Insight Partners, LLC acts as the sub-adviser to the Christian Stock Fund.

**NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** 

The Trust follows accounting and reporting guidance under Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946, "Financial Services – Investment Companies" including Accounting Standards Update 2013-08.

The following is a summary of significant accounting policies consistently followed by the Funds in the preparation of their financial statements. These financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America ("US GAAP").

&nbsp;&nbsp;&nbsp;&nbsp;A. *Investment Valuation*. The net asset value ("NAV") of each Fund's shares is calculated each business day as of the close
 of regular trading on the New York Stock Exchange ("NYSE"), generally 4:00 p.m., Eastern Time. NAV per share is computed by
 dividing the net assets of each Fund by each Fund's number of shares outstanding.

When calculating the NAV of each Fund's shares, securities held by the Funds are valued at market quotations when reliable market quotations are readily available. Exchange traded securities and instruments (including equity securities, depositary receipts and ETFs) are generally valued at the last reported sale price on the principal exchange on which such securities are traded (at the NASDAQ Official Closing Price for NASDAQ listed securities), as of the close of regular trading on the NYSE on the day the securities are being valued or, if there are no sales, at the mean of the most recent bid and asked prices. Over-the-counter securities and instruments not traded on an exchange are generally valued at the last traded price. Investments in open-end regulated investment companies are valued at NAV. In the absence of a recorded transaction sale price; or if the last sale price is unavailable, securities are valued at the mean between last bid and ask, as quoted. If an ask price is unavailable, the last bid price is used. Such valuations would typically be categorized as Level 1 or Level 2 in the fair value hierarchy described below.

When reliable market quotations are not readily available, securities are priced at their fair value as determined in good faith by the Adviser in accordance with the Trust's valuation guidelines. Pursuant to Rule 2a-5 under the 1940 Act, each Fund has designated the Adviser as its "Valuation Designee" to perform all of the fair value determinations as well as to perform all of the responsibilities that may be performed by the Valuation Designee in accordance with Rule 2a-5. The Valuation Designee is authorized to make all necessary determinations of the fair values of portfolio securities and other assets for which market quotations are not readily available or if it is deemed that the prices obtained from brokers and dealers or independent pricing services are unreliable. The Funds may use fair value pricing in a variety of circumstances, including but not

10<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**NOTES TO FINANCIAL STATEMENTS** 

**November 30, 2025 (Unaudited)(Continued)** 

limited to, situations when the value of a security has been materially affected by events occurring after the close of the market on which such security is principally traded (such as a corporate action or other news that may materially affect the price of such security) or trading in such security has been suspended or halted. Such valuations would typically be categorized as Level 2 or Level 3 in the fair value hierarchy described below. Fair value pricing involves subjective judgments and it is possible that a fair value determination for a security is materially different than the value that could be realized upon the sale of such security. As of November 30, 2025, there were no securities held by the Funds that were internally fair valued and/or valued using a Level 2 or Level 3 valuation.

Investments in open-end regulated investment companies (including money market funds) are valued at NAV. Such valuations would typically be categorized as Level 1 in the fair value hierarchy described below.

The Funds disclose the fair value of their investments in a hierarchy that distinguishes between: (1) market participant assumptions developed based on market data obtained from sources independent of the Funds (observable inputs) and (2) the Funds' own assumptions about market participant assumptions developed based on the best information available under the circumstances (unobservable inputs). The three levels defined by the hierarchy are as follows:

Level 1 – Quoted prices in active markets for identical assets that the Funds have the ability to access.

Level 2 – Other significant observable inputs (including quoted prices for similar securities, interest rates,

prepayment speeds, credit risk, etc.).

Level 3 – Significant unobservable inputs (including the Funds' own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the inputs used to value each Fund's investments as of November 30, 2025:

**FIS Bright Portfolios Focused Equity ETF** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total**  |
| **Assets**<br>|  |  |  |  |
| **Investments:**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks | $100374009 | $— | $— | $100374009  |
| &nbsp;&nbsp;&nbsp; Money Market Funds | 3225507 |  |  | 3225507  |
| **Total Investments** | $103599516 | $— | $— | $103599516 |

---

**FIS Christian Stock Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total**  |
| **Assets**<br>|  |  |  |  |
| **Investments:**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks | $67286708 | $— | $— | $67286708  |
| &nbsp;&nbsp;&nbsp; Real Estate Investment Trusts - Common | 1293535 |  |  | 1293535  |
| &nbsp;&nbsp;&nbsp; Money Market Funds | 2275894 |  |  | 2275894  |
| **Total Investments** | $70856137 | $— | $— | $70856137 |

---

Refer to the Schedule of Investments for further disaggregation of investment categories.

11<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**NOTES TO FINANCIAL STATEMENTS** 

**November 30, 2025 (Unaudited)(Continued)** 

&nbsp;&nbsp;&nbsp;&nbsp;B. *Foreign Currency Translation*. The books and records of the Funds are maintained in U.S. dollars. The Funds' assets and liabilities in foreign
 currencies are translated into U.S. dollars at the prevailing exchange rate at the valuation date. Transactions denominated in foreign
 currencies are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The Funds' income earned
 and expenses incurred in foreign denominated currencies are translated into U.S. dollars at the prevailing exchange rate on the date of
 such activity.

The Funds do not isolate that portion of the results of operations arising from changes in the foreign exchange rates on investments from the fluctuations that result from changes in the market prices of investments held or sold during the period. Accordingly, such foreign currency gains (losses) are included in the reported net realized gain (loss) on investments in securities and net change in unrealized appreciation (depreciation) on investments in securities on the Statements of Operations.

Net realized gains (losses) on foreign currency transactions reported on the Statements of Operations arise from sales of foreign currency, including foreign exchange contracts, net currency gains and losses realized between the trade and settlement dates on securities transactions and the difference in the amounts of dividends and foreign withholding taxes recorded on the Funds' books and the U.S. dollar equivalent of the amounts actually received or paid. Net changes in unrealized appreciation (depreciation) on translation of assets and liabilities denominated in foreign currencies reported on the Statements of Operations arise from changes (due to the changes in the exchange rate) in the value of foreign currency and assets and liabilities (other than investments) denominated in foreign currencies, which are held at year end.

&nbsp;&nbsp;&nbsp;&nbsp;C. *Use of Estimates.* The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions
 that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial
 statement. Actual results could differ from those estimates.

&nbsp;&nbsp;&nbsp;&nbsp;D. *Federal Income Taxes.* Each Fund intends to qualify as a regulated investment company ("RIC") under Subchapter M of the Internal Revenue
 Code of 1986, as amended. If so qualified, the Funds will not be subject to federal income tax to the extent each Fund distributes substantially
 all its taxable net investment income and net capital gains to its shareholders. Therefore, no provision for federal income tax should
 be required. Management of the Funds is required to determine whether a tax position taken by the Funds is more likely than not to be
 sustained upon examination by the applicable taxing authority. Based on its analysis, Management has concluded that there are no significant
 uncertain tax positions that would require recognition in the financial statements as of November 30, 2025. The Funds recognize interest
 and penalties, if any, related to unrecognized tax benefits as income tax expense on the Statements of Operations.

&nbsp;&nbsp;&nbsp;&nbsp;E. *Distributions to Shareholders.* Each Fund expects to declare and distribute all of its net investment income, if any, to shareholders as dividends
 annually. The Funds will distribute net realized capital gains, if any, at least annually. The Funds may distribute such income dividends
 and capital gains more frequently, if necessary, to reduce or eliminate federal excise or income taxes on the Funds. The amount of any
 distribution will vary, and there is no guarantee the Funds will pay either an income dividend or a capital gains distribution. Each Fund
 records the dividends it receives from underlying investments as dividends receivable (asset) and dividend income (income) on ex-dividend
 date. On pay-date, cash is received from the dividend payment and the dividends receivable account is relieved.

&nbsp;&nbsp;&nbsp;&nbsp;F. *Reclassification of Capital Accounts*. U.S. GAAP requires that certain components of net assets relating to permanent differences be reclassified
 between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share and are primarily due to differing
 book and tax treatments for in-kind redemptions. For the year ended May 31, 2025, the following adjustments were made:

---

| | | |
|:---|:---|:---|
|  | **Distributable** <br>**Earnings** <br>**(Accumulated** <br>**Loss)** | **Paid-in** <br>**Capital**  |
| Bright Portfolios ETF | $(5613148) | $5613148  |
| Christian Stock Fund  | $(300669) | $300669 |

---

12<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**NOTES TO FINANCIAL STATEMENTS** 

**November 30, 2025 (Unaudited)(Continued)** 

**NOTE 3 – INVESTMENT ADVISORY AND OTHER AGREEMENTS** 

As of November 30, 2025, certain officers of the Trust were affiliated with the Distributor, and received no fees from the Trust for serving as officers.

**Management** 

The Adviser acts as each Fund's investment adviser pursuant to an investment advisory agreement with the Trust (the "Investment Advisory Agreement").

Bright Portfolios, LLC acts as the sub-adviser and Vident Asset Management acts as the trading sub-adviser to the Bright Portfolios ETF and Capital Insight Partners, LLC acts as the sub-adviser to the Christian Stock Fund (the "Sub-Advisers") pursuant to investment sub-advisory agreements with the Adviser (the "Sub-Advisory-Agreements") through the reporting period. On December 31, 2025, Capital Insight Partners, LLC ceased to be the sub-adviser for FIS Christian Stock Fund.

Under the terms of the Investment Advisory Agreement between the Trust, on behalf of the Funds, and the Adviser, the Adviser provides investment management services to the Funds and oversees the day-to-day operations of the Funds, subject to the supervision of the Board of Trustees (the "Board") and the officers of the Trust. The Adviser administers the Funds' business affairs, provides office facilities and equipment and certain clerical, bookkeeping and administrative services. The Adviser, on behalf of the Funds, has entered into Sub-Advisory Agreements with each of the Sub-Advisers. The Sub-Advisers are responsible for the day-to-day management of their specific Fund's portfolio, subject to the supervision and oversight of the Adviser and the Board. The Adviser oversees the Sub-Advisers for compliance with the Funds' investment objectives, policies, strategies and restrictions. The Board oversees the Adviser and the Sub-Advisers, establishes policies that they must follow in their advisory activities, and oversees the hiring and termination of sub-advisers recommended by the Adviser.

Pursuant to the Investment Advisory Agreement, the Bright Portfolios ETF pays the Adviser a monthly unitary management fee at an annual rate of 0.65% and the Christian Stock Fund pays the Adviser a monthly unitary management fee at an annual rate of 0.68%, based on each Fund's average daily net assets. For the period ended November 30, 2025, Bright Portfolios ETF and Christian Stock Fund incurred $311,501 and $242,839, respectively, in management fees.

Pursuant to each Sub-Advisory Agreement, the Adviser compensates the Sub-Advisers out of the management fees it receives from the Funds.

Under the Investment Advisory Agreement, the Adviser pays all operating expenses of the Funds, except for certain expenses, including but not limited to, interest expenses, taxes, brokerage expenses, future Rule 12b-1 fees (if any), acquired fund fees and expenses, and the management fee payable to the Adviser under the Investment Advisory Agreement.

**Distribution and Fund Officers** 

Foreside Fund Services, LLC (the "Distributor") serves as the principal underwriter for shares of the Funds and acts as each Fund's distributor in a continuous public offering of the Funds' shares and serves as the distributor of Creation Units for the Funds. Shares are continuously offered for sale by the Trust through the Distributor only in Creation Units, as described further in Note 7. Shares in less than Creation Units are not distributed by the Distributor.

The Distributor is a broker-dealer registered under the Securities Exchange Act of 1934, as amended, and a member of the Financial Industry Regulatory Authority, Inc. ("FINRA").

Foreside Fund Officer Services, LLC, an affiliate of the Distributor, provides the Trust with a Chief Compliance Officer and Principal Financial Officer.

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**NOTES TO FINANCIAL STATEMENTS** 

**November 30, 2025 (Unaudited)(Continued)** 

**NOTE 4 – PURCHASES AND SALES OF SECURITIES** 

The costs of purchases and sales of securities, excluding short-term securities and in-kind transactions, during the period ended November 30, 2025, were as follows:

---

| | | |
|:---|:---|:---|
|  | **Purchases** | **Sales**  |
| Bright Portfolios ETF | $14537242 | $14794728  |
| Christian Stock Fund  | 5299176 | 2647915 |

---

The costs of purchases and sales of in-kind transactions, during the period ended November 30, 2025, were as follows:

---

| | | |
|:---|:---|:---|
|  | **Purchases** <br>**In-Kind** | **Sales** <br>**In-Kind**  |
| Bright Portfolios ETF | $18899288 | $14718234  |
| Christian Stock Fund | 575742 | 2944570 |

---

**NOTE 5 – TAX MATTERS** 

The tax character of the distributions paid during the period ended November 30, 2025 and the year ended May 31, 2025 are as follows:

---

| | | |
|:---|:---|:---|
|  | **Period Ended**<br>**November 30, 2025**<br>**Ordinary Income** | **Year Ended**<br>**May 31, 2025**<br>**Ordinary Income**  |
| Bright Portfolios ETF | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $7759  |
| Christian Stock Fund | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 477653 |

---

Net capital losses incurred after October 31 and late year losses incurred after December 31 and within the taxable year are deemed to arise on the first business day of each Fund's next taxable year. For the year ended May 31, 2025, the Funds did not have any late year losses nor post October losses. Capital loss carry forwards will retain their character as either short-term or long-term capital losses. At May 31, 2025, the following capital loss carry forwards were available:

---

| | | | |
|:---|:---|:---|:---|
|  | **Indefinite** <br>**Short-Term** | **Indefinite** <br>**Long-Term** | **Total**  |
| Bright Portfolios ETF | $443084 | $23271 | $466355  |
| Christian Stock Fund | $1554869 | $2234393 | $3789262 |

---

As of May 31, 2025, the components of accumulated earnings (losses) for income tax purposes were as follows:

---

| | | |
|:---|:---|:---|
|  | **Bright** <br>**Portfolios** <br>**ETF** | **Christian** <br>**Stock Fund**  |
| Federal income tax cost of investments  | $82119051 | $55773865  |
| Aggregate gross unrealized appreciation  | 5997211 | 14672833  |
| Aggregate gross unrealized (depreciation)  | (3445264) | (2076800)  |
| Net unrealized appreciation (depreciation)  | 2551947 | 12596033  |
| Undistributed Ordinary Income  | 241313 | 336781  |
| Undistributed Long Term Capital Gains  |  | —  |
| Distributable Earnings  | 241313 | 336781  |
| Accumulated capital and other gain/(loss)  | (466355) | (3779383)  |
| Total distributable earnings (accumulated loss)  | $2326905 | $9153431 |

---

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**NOTES TO FINANCIAL STATEMENTS** 

**November 30, 2025 (Unaudited)(Continued)** 

**NOTE 6 – SHARE TRANSACTIONS** 

Each Fund currently offers one class of shares, which has no front-end sales loads, no deferred sales charges, and no redemption fees. The standard fixed transaction fees for the Bright Portfolios ETF and the Christian Stock Fund are $500, payable to the Custodian. Additionally, a variable transaction fee may be charged by the Funds of up to a maximum of 2% of the value of the Creation Units (inclusive of any transaction fees charged), for each creation or redemption. Variable transaction fees are imposed to compensate the Funds for the transaction costs associated with creation and redemption transactions. The Adviser may adjust or waive the transaction fees from time to time. The Funds may each issue an unlimited number of shares of beneficial interest, with no par value. All shares of the Funds have equal rights and privileges.

Shares of the Funds are listed and traded on the NYSE Arca, Inc. (the "Exchange"). Market prices for the Shares may be different from their net asset value ("NAV"). The Funds will issue and redeem Shares on a continuous basis at NAV only in large blocks of Shares, typically 10,000 Shares, called "Creation Units." Creation Unit transactions are conducted in exchange for the deposit or delivery of a designated basket of in-kind securities and/or cash. Once created, shares generally will trade in the secondary market in amounts less than a Creation Unit and at market prices that change throughout the day. Except when aggregated in Creation Units, shares are not redeemable securities of the Funds. Shares of the Funds may only be purchased or redeemed by certain financial institutions ("Authorized Participants"). An Authorized Participant is either (i) a broker-dealer or other participant in the clearing process through the Continuous Net Settlement System ("Clearing Process") of the National Securities Clearing Corporation ("NSCC") or (ii) a participant in the Depository Trust Company ("DTC") and, in each case, must have executed a Participant Agreement with the Funds' Distributor. Most retail investors will not qualify as Authorized Participants or have the resources to buy and sell whole Creation Units. Therefore, they will be unable to purchase or redeem shares directly from the Funds. Rather, most retail investors will purchase shares in the secondary market with the assistance of a broker and will be subject to customary brokerage commissions or fees.

**NOTE 7 – BENEFICIAL OWNERSHIP** 

The beneficial ownership, either directly or indirectly, of more than 25% of the voting securities of a fund creates a presumption of control of the fund, under Section 2(a)(9) of the 1940 Act. As of the date of these financial statements, Capital Insight Partners, LLC the sub-adviser to the Christian Stock Fund, has voting power of 786,867 shares of the Christian Stock Fund, representing 35.13% of the shares outstanding. Faith Investor Services, LLC, the investment adviser to the Christian Stock Fund, has voting power of 859,063 shares of the Christian Stock Fund, representing 38.35% of the shares outstanding.

**NOTE 8 – PRINCIPAL RISKS** 

As with all ETFs, shareholders of the Funds are subject to the risk that their investment could lose money. The Funds are subject to the principal risks, any of which may adversely affect each Fund's NAV, trading price, yield, total return and ability to meet their investment objectives. A description of principal risks is included in each prospectus under the heading "Principal Investment Risks".

**NOTE 9 – GUARANTEES AND INDEMNIFICATIONS** 

In the normal course of business, the Trust, on behalf of the Funds, enters into contracts with third-party service providers that contain a variety of representations and warranties and that provide general indemnifications. Additionally, under the Trust organizational documents, the officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust. The Funds' maximum exposure under these arrangements is unknown, as it involves possible future claims that may or may not be made against the Funds. The Adviser is of the view that the risk of loss to the Funds in connection with the Funds' indemnification obligations is remote; however, there can be no assurance that such obligations will not result in material liabilities that adversely affect the Funds.

**NOTE 10 – ACCOUNTING PRONOUNCEMENTS AND/OR REGULATORY UPDATES** 

Each Fund has one reportable segment. Business activities are managed on a consolidated basis and revenues are derived primarily through Fund's investments in accordance with its investment objective. Each Fund's Chief Operating Decision Maker ("CODM") is the Fund Principal Executive Officer and Chief Executive Officer at the Adviser. The CODM assesses performance based on a Fund's Total Return as reported in the Financial Highlights, and

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**NOTES TO FINANCIAL STATEMENTS** 

**November 30, 2025 (Unaudited)(Continued)** 

the same accounting policies are applied as described in the summary of significant accounting policies. Each Fund's Total Return is utilized by the CODM to compare results, including the impact of a Fund's costs, to a Fund's competitors and to a Fund's benchmark index.

The Funds adopted the FASB Accounting Standards Update 2023-09, "Income Taxes (Topic 740) Improvements to Income Tax Disclosures" ("ASU 2023-09"). Adoption of the new standard by the Fund impacted financial statement disclosures only and did not affect the Fund's financial position or results of operations. A disaggregation of income taxes paid by jurisdiction is presented when significant income taxes are paid. Income taxes paid by the Fund for the period were determined to not be significant.

**NOTE 11 – FIS BRIGHT PORTFOLIOS FOCUSED EQUITY ETF IN-KIND CONTRIBUTION** 

As part of FIS Bright Portfolios Focused Equity ETF's ("the Fund") commencement of operations on December 20, 2024, the Fund received an in-kind contribution from accounts managed by Bright Portfolios, LLC, which consisted of $21,559,443 of securities which were recorded at their current value to align the Fund's performance with ongoing financial reporting. However, as the transaction was determined to be a nontaxable transaction by management, the Fund elected to retain the securities' original cost basis for tax purposes. The cost of the contributed securities as of December 20, 2024 was $16,251,665, resulting in net unrealized appreciation on investments of $5,307,778 as of that date. As a result of the in-kind contribution, the Fund issued 862,000 shares at a $25.01 per share net asset value.

**NOTE 12 – SUBSEQUENT EVENTS** 

Management has evaluated subsequent events and transactions for potential recognition or disclosure through the date the financial statements were issued.

The FIS Christian Stock Fund, a series of the FIS Trust, acquired all of the assets and liabilities of the FIS Christian Stock Fund, a series of NEOS ETF Trust in a tax-free reorganization on December 31, 2025. On December 31, 2025, Capital Insight Partners, LLC ceased to be the sub-adviser for FIS Christian Stock Fund. On December 29, 2025, FIS Bright Portfolios Focused Equity ETF held a special meeting of shareholders (the "Special Meeting"). At the Special Meeting, the shareholders of the FIS Bright Portfolios Focused Equity ETF were asked to approve an Agreement and Plan of Reorganization pursuant to which Bright Portfolios Focused Equity ETF will be reorganized into a new shell series of FIS Trust, as approved by the Board of Trustees of NEOS ETF Trust. The Special Meeting for Bright Portfolios Focused Equity ETF was adjourned to January 21, 2026 so that Bright Portfolios Focused Equity ETF may solicit additional votes of shares necessary to approve the reorganization.

Management has determined that there are no other material events that would require recognition or disclosure in the Funds' financial statements.

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**OTHER NON-AUDITED INFORMATION** 

**November 30, 2025 (Unaudited)** 

**TAX INFORMATION** 

For the fiscal year ended May 31, 2025, certain dividends paid by the Funds may be subject to reduced tax rates, as provided for by the Jobs and Growth Tax Relief Reconciliation Act of 2003. The percentage of dividends declared from ordinary income designated as qualified dividend income was as follows:

---

| | |
|:---|:---|
| FIS Bright Portfolios Focused Equity ETF  | 100.00% |
| FIS Christian Stock Fund  | 100.00% |

---

For corporate shareholders, the percent of ordinary income distributions qualifying for the corporate dividends received deduction for the year ended May 31, 2025 were as follows:

---

| | |
|:---|:---|
| FIS Bright Portfolios Focused Equity ETF  | 100.00%  |
| FIS Christian Stock Fund  | 76.60% |

---

For the year ended May 31, 2025, the percentage of taxable ordinary income distributions that are designated as short-term capital gain distributions under Internal Revenue Code Section 871(k)(2)(C) for the Funds were as follows:

---

| | |
|:---|:---|
| FIS Bright Portfolios Focused Equity ETF  | 0.00% |
| FIS Christian Stock Fund  | 0.00% |

---

**FREQUENCY DISTRIBUTION OF PREMIUMS AND DISCOUNTS** 

Information regarding how often shares of the Funds traded on the Exchange at a price above (i.e., at a premium) or below (i.e., at a discount) the NAV of the Funds are available on the Funds' website at www.faithinvestorservices.com.

**DISCLOSURE OF PORTFOLIO HOLDINGS** 

NEOS ETF Trust files its complete schedules of portfolio holdings with the Securities and Exchange Commission ("SEC") for the first and third quarters of each fiscal year to date as exhibits to their reports on Form N-PORT. The Funds' Form N-PORT reports are available on the SEC's website at www.sec.gov. It may also be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. Information about the Public Reference Room may be obtained by calling 1-800-SEC-0330. In addition, the Funds' full portfolio holdings are updated daily and available on the Funds website at www.faithinvestorservices.com.

**PROXY VOTING POLICIES AND PROCEDURES** 

A description of the policies and procedures the Funds uses to determine how to vote proxies relating to portfolio securities is provided in the Statements of Additional Information ("SAIs"). The SAIs are available without charge upon request by calling toll-free at (833) 833-1311, by accessing the SEC's website at http://www.sec.gov, or by accessing the Funds' website at www.faithinvestorservices.com. Information on how the Funds' voted proxies relating to portfolio securities during the most recent 12-month period ended June 30 will be available without charge, upon request, by calling (833) 833-1311 or by accessing the website of the SEC.

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**CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES (Unaudited)** 

An open-end management investment company registered on Form N-1A [17 CFR 239.15A and 17 CFR 274.11A] must disclose the information concerning changes in and disagreements with accountants and on accounting and financial disclosure required by Item 304 of Regulation S-K [17 CFR 229.304].

**Response: None for the period contained within this report.** 

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**PROXY DISCLOSURES FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES (Unaudited)** 

If any matter was submitted during the period covered by the report to a vote of shareholders of an open-end management investment company registered on Form N-1A [17 CFR 239.15A and 17 CFR 274.11A], through the solicitation of proxies or otherwise, the company must furnish the following information:

&nbsp;&nbsp;&nbsp;&nbsp;(1) The date of the meeting and whether it was an
 annual or special meeting.

&nbsp;&nbsp;&nbsp;&nbsp;(2) If the meeting involved the election of directors,
 the name of each director elected at the meeting and the name of each other director whose term of office as a director continued after
 the meeting.

&nbsp;&nbsp;&nbsp;&nbsp;(3) A brief description of each matter voted upon
 at the meeting and the number of votes cast for, against or withheld, as well as the number of abstentions and broker non-votes as to
 each such matter, including a separate tabulation with respect to each matter or nominee for office.

**Response: FIS Christian Stock Fund held a special meeting of shareholders on December 29, 2025 (which occurred after the end date of this reporting period) where PRAY's shareholders approved the reorganization of PRAY into FIS Trust, as approved by PRAY's Board of Trustees. The PRAY reorganization closed on December 31, 2025.**

On December 29, 2025 (which occurred after the end date of this reporting period), FIS Bright Portfolios Focused Equity ETF held a special meeting of shareholders (the "Special Meeting"). At the Special Meeting, the shareholders of the FIS Bright Portfolios Focused Equity ETF were asked to approve an Agreement and Plan of Reorganization pursuant to which Bright Portfolios Focused Equity ETF will be reorganized into a new shell series of FIS Trust, as approved by the Board of Trustees of NEOS ETF Trust. The Special Meeting for Bright Portfolios Focused Equity ETF was adjourned to January 21, 2026 so that Bright Portfolios Focused Equity ETF may solicit additional votes of shares necessary to approve the reorganization.

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**REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES (Unaudited)** 

Unless the following information is disclosed as part of the financial statements included in Item 7, an open-end management investment company registered on Form N-1A [17 CFR 239.15A and 17 CFR 274.11A] must disclose the aggregate remuneration paid by the company during the period covered by the report to:

&nbsp;&nbsp;&nbsp;&nbsp;(1) All directors and all members of any advisory
 board for regular compensation;

&nbsp;&nbsp;&nbsp;&nbsp;(2) Each director and each member of an advisory board
 for special compensation;

&nbsp;&nbsp;&nbsp;&nbsp;(3) All officers; and

&nbsp;&nbsp;&nbsp;&nbsp;(4) Each person of whom any officer or director of
 the Fund is an affiliated person

**Response: Each current Independent Trustee is paid an annual retainer of $19,000 for his or her services as a Board member to the Trust, together with out-of-pocket expenses in accordance with the Board's policy on travel and other business expenses relating to attendance at meetings.** 

Independent Trustee fees are paid by the Adviser to each series of the Trust through the applicable adviser's unitary management fee, and not by the Fund. Annual Trustee fees may be reviewed periodically and changed by the Board.

The Trust does not have a bonus, profit sharing, pension or retirement plan.

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**STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT** 

(Unaudited)

If the board of directors approved any investment advisory contract during the Fund's most recent fiscal half-year, discuss in reasonable detail the material factors and the conclusions with respect thereto that formed the basis for the board's approval. Include the following in the discussion:

&nbsp;&nbsp;&nbsp;&nbsp;(1) Factors relating to both the board's
 selection of the investment adviser and approval of the advisory fee and any other amounts to be paid by the Fund under the contract.
 These factors would include, but not be limited to, a discussion of the nature, extent, and quality of the services to be provided by
 the investment adviser; the investment performance of the Fund and the investment adviser; the costs of the services to be provided and
 profits to be realized by the investment adviser and its affiliates from the relationship with the Fund; the extent to which economies
 of scale would be realized as the Fund grows; and whether fee levels reflect these economies of scale for the benefit of Fund investors.
 Also indicate in the discussion whether the board relied upon comparisons of the services to be rendered and the amounts to be paid under
 the contract with those under other investment advisory contracts, such as contracts of the same 14 and other investment advisers with
 other registered investment companies or other types of clients (e.g., pension funds and other institutional investors). If the board
 relied upon such comparisons, describe the comparisons and how they assisted the board in concluding that the contract should be approved;
 and

&nbsp;&nbsp;&nbsp;&nbsp;(2) If applicable, any benefits derived or to be
 derived by the investment adviser from the relationship with the Fund such as soft dollar arrangements by which brokers provide research
 to the Fund or its investment adviser in return for allocating Fund brokerage.

**Response:** 

**Board Approval of Investment Advisory and Sub-Advisory Agreements for FIS Christian Stock Fund** 

On June 3, 2025, Board including the Independent Trustees of the Board, reviewed: (i) the nature and quality of the advisory services provided by Faith Investor Services, LLC ("FIS"), including the experience and qualifications of the personnel providing such services; (ii) the performance history of FIS Christian Stock Fund (PRAY) (the "FIS ETF"); (iii) the fees and expenses of the FIS ETF; (iv) the profitability of FIS for managing the FIS ETF; (v) economies of scale; (vi) possible fall-out benefits to FIS and its affiliates (i.e., the ancillary benefits realized by FIS and its affiliates from FIS' relationship with the FIS ETF); and (vii) possible conflicts of interest. In considering the renewal of the Management Agreements.

The Board exercised its own business judgment in determining its conclusions and its conclusions were based on an evaluation of all of the information provided and were not the result of any one factor. Moreover, each Trustee may have afforded different weight to the various factors in reaching his or her conclusions with respect to the advisory agreements.

<u>Nature, Extent and Quality of Service</u>.

The Board reviewed materials provided by FIS related to the proposed renewal of the Advisory Agreement, including a description of its oversight of Capital Insight Partners, LLC ("CIP") (the "Sub-Adviser"), a review of the professional personnel who perform services for the FIS ETF, FIS's compliance and risk management infrastructure, its financial strength and resources, and how it monitors the Sub-Adviser's investment processes and other responsibilities. The Board also noted the responsibilities that FIS has as investment adviser to the FIS ETF, including: voting proxies on behalf of the FIS ETF, the oversight of the Sub-Adviser with respect to their adherence to the FIS ETF's investment strategy and restrictions, monitoring of the Sub-Adviser's buying and selling of securities and other transactions, reviewing the Sub-Adviser's performance, reviewing and overseeing brokerage and general Fund compliance with federal and state laws; and implementation of Board directives as they relate to the FIS ETF. The Board also considered research support available to, and management capabilities of, management personnel of FIS, noting FIS services in relation to day-to-day fund operations, including fund accounting, tax matters, administration, compliance and legal assistance in meeting disclosure and regulatory requirements.

Additionally, the Board received satisfactory responses from the representative of FIS with respect to a series of questions, including: whether FIS was involved in any lawsuits or pending regulatory actions; whether the management of other accounts conflicted with their management of the FIS ETF; and the procedures in place to adequately allocate trades among its respective clients. The Board noted that FIS had reported no material compliance or litigation issues. The Board concluded that FIS had sufficient quality and depth of personnel, resources, investment methods and

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**STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT** 

(Unaudited)(Continued)

compliance policies and procedures essential to performing its duties under the Advisory Agreements and that the nature, had provided overall satisfactory management services to the FIS ETF.

<u>Performance</u>.

**PRAY. The Board reviewed the Fund's performance over various periods, noting that the Fund had underperformed its peer group, Morningstar category, and the MSCI World Index over the 1-year and since inception periods. The Board recognized that the Fund had outperformed its peer group over the 3-year period but underperformed its Morningstar category and the MSCI World Index over the same period. The Board acknowledged that FIS attributed much of PRAY's underperformance to its screening guidelines that eliminated many of the "Magnificent 7" technology companies from the Fund's portfolio. The Board concluded that FIS was managing PRAY in accordance with its investment objective.** 

<u>Fees and Expenses</u>.

The Board discussed the comparison of advisory fees and total operating expense data and reviewed FIS ETF's advisory fee, which were unitary fees, and overall expenses compared to peer groups comprised of funds selected by FIS, which had similar investment objectives and faith-based strategies. The Board discussed that under the unitary fee arrangement, FIS is contractually obligated to pay the fees of the FIS ETF's service providers, with the exception of the advisory fee and certain other expenses. Accordingly, the Board agreed that a comparison of the FIS ETF's unitary management fee to the total expense ratios of the funds in their respective peer group and Morningstar category was appropriate.

**PRAY. The Board observed that the advisory fee charged by FIS to the Fund was higher than the average expense ratio of its peer group and Morningstar category. The Board considered FIS' position that many of the peer funds were passively managed and that its screening guidelines were more labor intensive than the screening guidelines of other actively managed funds in its peer group, which justified the higher fee. The Board concluded that the management fee for PRAY was not unreasonable, and that the allocation of sub-advisory fee and amount retained by FIS was reasonable given their respective responsibilities.** 

<u>Economies of Scale</u>. The Board considered whether FIS had achieved economies of scale with respect to the management of the FIS ETF. The Board noted that FIS had indicated its willingness to continue monitoring for opportunities to implement breakpoints as the FIS ETF increased its assets. The Board determined that to the extent material economies of scale were achieved in the future, and such economies of scale had not been shared with the FIS ETF, the Board would seek to have those economies of scale shared with the FIS ETF in connection with future renewals of the Advisory Agreement.

<u>Profitability</u>. The Board reviewed FIS's profitability analysis in connection with its advisory services for the FIS ETF and noted that FIS earned a small profit from PRAY. The Board concluded that profits earned by FIS with respect to PRAY were not unreasonable in terms of percentage or actual dollars.

<u>Conclusion</u>. Having requested and received such information from FIS as the Board believed to be reasonably necessary to evaluate the terms of the Management Agreements, the Board concluded that approval of the Management Agreement was in the best interest of the FIS ETF and its shareholders.

**Capital Insight Partners, LLC—Sub-Adviser to PRAY** 

The Board turned to the renewal of the sub-advisory agreement among FIS, CIP, and the Trust on behalf of PRAY. The Board examined CIP's responses to a series of questions with respect to PRAY regarding, among other things, the sub-advisory services it provided, comparative fee and expense information, performance data, its profitability analysis, and its consideration of economies of scale. It was noted that FIS and PRAY's investment adviser, recommended approving the sub-advisory agreement.

<u>Nature, Extent, and Quality of Services</u>. The Board noted the experience of the portfolio management and research personnel of CIP, including their experience in the investment field, education and industry credentials. The Board discussed that it had received satisfactory responses from CIP with respect to a series of questions, including whether CIP is involved in any lawsuits or pending regulatory actions. The Board discussed CIP's compliance structure, broker-dealer selection process, and security selection process. The Board also noted CIP's affiliation with FIS. The Board concluded that CIP had provided satisfactory investment management services to PRAY.

22<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT** 

(Unaudited)(Continued)

<u>Performance</u>. The Board recalled its discussion of the Fund's performance when considering approval of the Advisory Agreement. The Trustees further considered the performance of the Fund compared to separate accounts managed by CIP with investment strategies similar to the Fund. The Board concluded that CIP had provided satisfactory returns to the Fund and its shareholders.

<u>Fees and Expenses</u>. The Board discussed the sub-advisory fee payable to CIP, noting it was paid by FIS and not by the Fund. FIS confirmed to the Board that FIS believed the sub-advisory fees paid to CIP were reasonable in light of the quality of the services performed by CIP and allocation of responsibilities between FIS and CIP. The Board also noted that the fee charged by CIP was below the fee that it charges to other accounts pursuing a similar strategy. Based on the representations of FIS and CIP and the materials provided, the Board concluded that the sub-advisory fee paid to CIP was not unreasonable and the sub-advisory fee, in relation to the total advisory fee, was acceptable.

<u>Economies of Scale</u>. The Board considered whether CIP realized any economies of scale with respect to the sub-advisory services provided to PRAY. The Board agreed this was primarily an adviser level issue and should be considered with respect to the overall Management Agreement, taking into consideration the impact of the sub-advisory expense.

<u>Profitability</u>. The Board reviewed the profitability analysis provided by CIP, noting that CIP was sub-advising PRAY at a loss. Consequently, the Board concluded that excessive profitability was not an issue for CIP at this time.

<u>Conclusion.</u> Having requested and received such information from CIP as the Board believed to be reasonably necessary to evaluate the terms of the Sub-Advisory Agreement with respect to PRAY, and as assisted by the advice of independent counsel, the Board determined that approval of the Sub-Advisory Agreement was in the best interest of PRAY and its shareholders.

23<br>

(b) Financial Highlights are included within the financial statements filed under Item 7(a) of this Form.

**<u>Item 8. Changes in and Disagreements with Accountants for Open-End Investment Companies.</u>**

 

Response included within Item 7(a) of this Form.

**<u>Item 9. Proxy Disclosure for Open-End Investment Companies.</u>**

Response included within Item 7(a) of this Form.

**<u>Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Investment Companies.</u>**

Response included within Item 7(a) of this Form.

**<u>Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.</u>**

Response included within Item 7(a) of this Form.

**<u>Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.</u>**

Not applicable to open-end investment companies.

**<u>Item 13. Portfolio Managers of Closed-End Management Investment Companies.</u>**

Not applicable to open-end investment companies.

**<u>Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.</u>**

Not applicable to open-end investment companies.

**<u>Item 15. Submission of Matters to a Vote of Security Holders.</u>**

There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant's board of Trustees.

**<u>Item 16. Controls and Procedures.</u>**

(a) The Registrant's Principal Executive Officer and Principal Financial Officer have reviewed the Registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the "Act")) as of a date within 90 days of the filing of this report, as required by Rule 30a-3(b) under the Act and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934. Based on their review, such officers have concluded that the disclosure controls and procedures are effective in ensuring that information required to be disclosed in this report is appropriately recorded, processed, summarized and reported and made known to them by others within the Registrant and by the Registrant's service provider.

(b) There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

**<u>Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies</u>**

Not applicable to open-end investment companies.

**<u>Item 18. Recovery of Erroneously Awarded Compensation</u>**

(a) Not Applicable.

(b) Not Applicable.

**<u>Item 19. Exhibits.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;(a) (1) Any code of ethics or amendment thereto, that is the subject of the disclosure required by Item
 2, to the extent that the registrant intends to satisfy Item 2 requirements through filing an exhibit. **Not Applicable for Semi-Annual Reports.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Any policy required by the listing standards adopted pursuant to Rule 10D-1 under the Exchange Act (17 CFR 240.10D-1) by the registered national securities exchange or national securities association upon which the registrant's securities are listed. **Not Applicable.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[(3) A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)). **Filed herewith.**](fts-efp21954_ex99cert.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Any written solicitation to purchase securities under Rule 23c-1 under the Act sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons. **Not applicable to open-end investment companies.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) Change in the registrant's independent public accountant. Provide the information called for by Item 4 of Form 8-K under the Exchange Act (17 CFR 249.308). Unless otherwise specified by Item 4, or related to and necessary for a complete understanding of information not previously disclosed, the information should relate to events occurring during the reporting period. **Not applicable to open-end investment companies.**

[(b) Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. **Furnished herewith.**](fts-efp21954_ex99906cert.htm)<br>

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

<u>NEOS ETF Trust</u>

---

| | |
|:---|:---|
| By: | /s/ Garrett Paolella |
|  | Garrett Paolella |
|  | President/Principal Executive Officer |

---

Date: <u>February 4, 2026</u>

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

---

| | |
|:---|:---|
| By: | /s/ Garrett Paolella |
|  | Garrett Paolella |
|  | President/Principal Executive Officer |

---

Date: <u>February 4, 2026</u>

---

| | |
|:---|:---|
| By: | /s/ Josh Hunter |
|  | Josh Hunter |
|  | Treasurer/Principal Financial Officer |

---

Date: <u>February 4, 2026</u>

## Ex-99.Cert

**EX.99.CERT**

**<u>CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE INVESTMENT COMPANY ACT OF<br> 1940 AND SECTION 302 OF THE SARBANES OXLEY ACT OF 2002:</u>**

I, Garrett Paolella, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. I
 have reviewed this report on Form N-CSR of NEOS ETF Trust;

&nbsp;&nbsp;&nbsp;&nbsp;2. Based
 on my knowledge, this report does not contain any untrue statement of a material fact or
 omit to state a material fact necessary to make the statements made, in light of the circumstances
 under which such statements were made, not misleading with respect to the period covered
 by this report;

&nbsp;&nbsp;&nbsp;&nbsp;3. Based
 on my knowledge, the financial statements, and other financial information included in this
 report, fairly present in all material respects the financial condition, results of operations,
 changes in net assets, and cash flows (if the financial statements are required to include
 a statement of cash flows) of the registrant as of, and for, the periods presented in this
 report;

&nbsp;&nbsp;&nbsp;&nbsp;4. The
 registrant's other certifying officer(s) and I are responsible for establishing and
 maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment
 Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d)
 under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed
 such disclosure controls and procedures, or caused such disclosure controls and procedures
 to be designed under our supervision, to ensure that material information relating to the
 registrant, including its consolidated subsidiaries, is made known to us by others within
 those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed
 such internal control over financial reporting, or caused such internal control over financial
 reporting to be designed under our supervision, to provide reasonable assurance regarding
 the reliability of financial reporting and the preparation of financial statements for external
 purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated
 the effectiveness of the registrant's disclosure controls and procedures and presented
 in this report our conclusions about the effectiveness of the disclosure controls and procedures,
 as of a date within 90 days prior to the filing date of this report based on such evaluation;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed
 in this report any change in the registrant's internal control over financial reporting
 that occurred during the period covered by this report that has materially affected, or is
 reasonably likely to materially affect, the registrant's internal control over financial
 reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;5. The
 registrant's other certifying officer(s) and I have disclosed to the registrant's
 auditors and the audit committee of the registrant's board of directors (or persons
 performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All
 significant deficiencies and material weaknesses in the design or operation of internal control
 over financial reporting which are reasonably likely to adversely affect the registrant's
 ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any
 fraud, whether or not material, that involves management or other employees who have a significant
 role in the registrant's internal control over financial reporting.

---

| | | |
|:---|:---|:---|
| Date: | February 4, 2026 | /s/ Garrett Paolella |
|  |  | Garrett Paolella<br> President/Principal Executive Officer |

---

**<u>CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE INVESTMENT COMPANY ACT OF <br>1940 AND SECTION 302 OF THE SARBANES OXLEY ACT OF 2002:</u>**

I, Josh Hunter, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. I
 have reviewed this report on Form N-CSR of NEOS ETF Trust;

&nbsp;&nbsp;&nbsp;&nbsp;2. Based
 on my knowledge, this report does not contain any untrue statement of a material fact or
 omit to state a material fact necessary to make the statements made, in light of the circumstances
 under which such statements were made, not misleading with respect to the period covered
 by this report;

&nbsp;&nbsp;&nbsp;&nbsp;3. Based
 on my knowledge, the financial statements, and other financial information included in this
 report, fairly present in all material respects the financial condition, results of operations,
 changes in net assets, and cash flows (if the financial statements are required to include
 a statement of cash flows) of the registrant as of, and for, the periods presented in this
 report;

&nbsp;&nbsp;&nbsp;&nbsp;4. The
 registrant's other certifying officer(s) and I are responsible for establishing and
 maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment
 Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d)
 under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed
 such disclosure controls and procedures, or caused such disclosure controls and procedures
 to be designed under our supervision, to ensure that material information relating to the
 registrant, including its consolidated subsidiaries, is made known to us by others within
 those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed
 such internal control over financial reporting, or caused such internal control over financial
 reporting to be designed under our supervision, to provide reasonable assurance regarding
 the reliability of financial reporting and the preparation of financial statements for external
 purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated
 the effectiveness of the registrant's disclosure controls and procedures and presented
 in this report our conclusions about the effectiveness of the disclosure controls and procedures,
 as of a date within 90 days prior to the filing date of this report based on such evaluation;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed
 in this report any change in the registrant's internal control over financial reporting
 that occurred during the period covered by this report that has materially affected, or is
 reasonably likely to materially affect, the registrant's internal control over financial
 reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;5. The
 registrant's other certifying officer(s) and I have disclosed to the registrant's
 auditors and the audit committee of the registrant's board of directors (or persons
 performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All
 significant deficiencies and material weaknesses in the design or operation of internal control
 over financial reporting which are reasonably likely to adversely affect the registrant's
 ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any
 fraud, whether or not material, that involves management or other employees who have a significant
 role in the registrant's internal control over financial reporting.

---

| | | |
|:---|:---|:---|
| Date: | February 4, 2026 | /s/ Josh Hunter |
|  |  | Josh Hunter<br> Treasurer/Principal Financial Officer |

---

## Exhibit 99.906

**EX.99.906CERT**

**<u>Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (subsections (a) and (b) of</u>**

**<u>section 1350, chapter 63 of title 18, United States Code)</u>**

Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, each of the undersigned officers of the NEOS ETF Trust, does hereby certify, to such officer's knowledge, that the report on Form N-CSR of the NEOS ETF Trust for the period ended November 30, 2025 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as applicable, and that the information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of NEOS ETF Trust for the stated period.

---

| | |
|:---|:---|
| /s/ Garrett Paolella | /s/ Josh Hunter |
| Garrett Paolella<br> President/Principal Executive Officer, | Josh Hunter<br> Treasurer/Principal Financial Officer,<br>|

---

Dated: <u>February 4, 2026</u> Dated: <u>February 4, 2026</u>

This statement accompanies this report on Form N-CSR pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not be deemed as filed by NEOS ETF Trust for purposes of Section 18 of the Securities Exchange Act of 1934.