Covered Call ETF Comparison
CoveredCallETFHQ is the only free covered call ETF comparison tool that grades funds A-F based on real NAV erosion data — not just yield. Whether you're building a covered call ETF income portfolio or trying to figure out which funds are quietly destroying your capital, our covered call ETF comparison dashboard gives you the complete picture: total return, NAV change since inception, reinvestment requirements, and a letter grade for every fund. Updated every market day.
We track 30 covered call ETFs across 10 categories — from battle-tested income funds like JEPI, JEPQ, QYLD and DIVO to newer high-yield funds like ULTY, YMAG and FEPI. Every fund is graded on the same five-factor system so you can compare apples to apples, regardless of yield or strategy.
What Is NAV Erosion — And Why Most Investors Miss It
Most covered call ETF investors focus on one number: yield. A fund paying 30%, 50%, even 130% annually sounds extraordinary. But yield alone tells only half the story.
NAV erosion is the silent killer of covered call ETF returns. It happens when a fund's share price steadily declines over time — meaning the distributions you receive are partly your own capital being returned to you, not true income.
The result? You think you're earning 50% annually. In reality, your total return — share price change plus all distributions received — may be far lower. Some funds with eye-popping yields have delivered negative total returns since inception.
That's exactly what CoveredCallETFHQ measures. Every fund in our dashboard is graded A-F across five factors including NAV change, total return, and the percentage of income you'd need to reinvest just to maintain your original investment.
How To Use This Covered Call ETF Comparison Tool
Start with the Cards view to get a quick visual overview of every fund's grade, NAV change, TTM yield, and max drawdown. Use the filter buttons to narrow by category — S&P 500, Nasdaq 100, zero erosion funds, or Grade A and B funds only. Switch to Table view for a full side-by-side covered call ETF comparison across all 20 metrics — click any column header to sort, and watch the arrow indicator show you the active sort direction.
Each fund card shows five score bars — Income, Capital Preservation, Total Wealth, Max Drawdown, and Sustainability — so you can see exactly why a fund earned its grade. A fund paying 100% yield can still earn an F if NAV erosion is severe enough to wipe out the income.
Portfolio funds — marked with a ⭐ — are funds we personally own and track most closely: SPYI, QQQI, CHPY, BTCI, IAUI, and CSHI.
Scroll down to see which funds pass the test.
How We Grade Covered Call ETFs
Every fund in our dashboard receives an A-F letter grade based on five weighted factors — not just yield. A fund can pay 100% yield and still earn an F. That's the whole point.
📊 Income (20%)
Available income per $10,000 invested after accounting for the portion you'd need to reinvest to maintain your original capital.
🏦 Capital Preservation (25%)
NAV change since inception. Did your share price grow or erode? This is the highest weighted factor because capital destruction is permanent.
💰 Total Wealth (20%)
Distribution Coverage ratio — total wealth created (current price + all dividends) divided by total dividends paid. Above 1.0 means the fund created more value than it distributed.
📉 Max Drawdown (15%)
The worst peak-to-trough loss in the fund's history. How bad did it get during a market crash? Lower is better.
♻️ Sustainability (20%)
What percentage of distributions would you need to reinvest just to maintain your original share price? 0% means no erosion at all.
Grade thresholds:
🟢 A = 4.0+ 🔵 B = 3.5+ 🟡 C = 2.5+ 🔴 D = 1.5+ ⚫ F = below 1.5
Unlock the Full Covered Call ETF Universe
Pro members get the following:
- ✅ 200+ covered call ETFs tracked and graded
- ✅ Portfolio builder with income calculator
- ✅ Grade change email alerts
- ✅ Early access + discounted launch price
No spam. Unsubscribe anytime. We'll only email you about Pro launch news.
Why CoveredCallETFHQ?
Data That Updates Daily
Our grading system pulls live data from Yahoo Finance every market day. Grades, yields, NAV changes, and total returns refresh automatically. No stale data, no guessing.
Built By An Income Investor
This tool was built because I needed it myself. I own SPYI, QQQI, CHPY, BTCI, IAUI, and CSHI. Every metric exists because it matters to real portfolio decisions.
The Only NAV Erosion Grader
Every other covered call ETF tool shows yield. We show total return, NAV erosion, reinvestment requirements, and a letter grade. Know what you actually own.
⚠️ Disclaimer: CoveredCallETFHQ is for informational purposes only and does not constitute financial advice. All data sourced from Yahoo Finance. Grades and scores reflect our proprietary methodology and should not be used as the sole basis for investment decisions. Past performance does not guarantee future results. Always consult a qualified financial advisor before investing.