Which is cheaper, APRJ or PCOV?

APRJ charges 0.79% a year and PCOV charges 0.34%, so PCOV is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

APRJ vs PCOV: Dividend Yield & Total Return

APRJ and PCOV both write options for income.

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Net assets: $27m on Nov 3, 2026 for Innovator Premium Income 30 Barrier ETF - April, and $10m on Nov 2, 2026 for Principal Equity Premium Income ETF.

APRJ on its own →PCOV on its own →

At a glance

6.2%

APRJ cash paid, 1 year

1.9%

PCOV cash paid, since launch, Aug 19, 2026

+6.2%

APRJ total return, 1 year

−0.1%

PCOV total return, since launch, Aug 19, 2026

APRJ · 1 year to Nov 4, 2026 8.6 pts behind SPY

APRJ

+6.2%

SPY

+14.8%

8.6 pts behind SPY

APRJ over 1 year: paid 6.2%, price −0.1%, total +6.2%, SPY +14.8%, −8.6 pts. Data to Nov 4, 2026.

SPY

+14.8%

APRJ

+6.2%

6.2% of it arrived as cash

8.6 pts behind SPY

Total return, distributions reinvested

8.6 pts behind SPY

APRJ over 1 year: paid 6.2%, price −0.1%, total +6.2%, SPY +14.8%, −8.6 pts. Data to Nov 4, 2026.

SPY

+14.8%

APRJ

+6.2%

8.6 pts behind SPY

6.2% of it arrived as cash. Total return, distributions reinvested. APRJ over 1 year: paid 6.2%, price −0.1%, total +6.2%, SPY +14.8%, −8.6 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

PCOV · since launch to Nov 4, 2026 Not measured

PCOV

−0.1%

none

Not measured

PCOV since launch: paid 1.9%, price −2.0%, total −0.1%, not measured against a benchmark. Data to Nov 4, 2026.

PCOV

−0.1%

Total return, distributions reinvested

Not measured

PCOV since launch: paid 1.9%, price −2.0%, total −0.1%, not measured against a benchmark. Data to Nov 4, 2026.

PCOV

−0.1%

1.9% of it arrived as cash. Both charts share one scale, with zero at the line. PCOV since launch: paid 1.9%, price −2.0%, total −0.1%, not measured against a benchmark. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

PCOV costs 0.45 points a year less; APRJ is 2.7 times larger.

Points (pts) are percentage points.

APRJ vs PCOV: Dividend Yield & Total Return
Measure	APRJ	PCOV
Paid and earned
Measure	APRJ	PCOV
Total return, 1 year	+6.2%	not published
Price change	fell 0.1% (1 year)	fell 2.0% (since Aug 19, 2026)
Against its benchmark
Measure	APRJ	PCOV
Benchmark	S&P 500, measured through SPY	not published
Cost and size
Measure	APRJ	PCOV
Expense ratio	0.79%	0.34%
Net assets, as of Nov 3, 2026	$27m	$10m
Holdings
Measure	APRJ	PCOV
Holdings in common	not published

Method

Side by side

APRJ Innovator Premium Income 30 Barrier ETF - April · Defined income on SPY, paying quarterly PCOV Principal Equity Premium Income ETF · Covered call

Issuer Innovator Principal

Strategy defined income covered call

Benchmark S&P 500 (SPY) none

Pays quarterly not established

Payout rate, annualized 6.9% 7.2%

Expense ratio 0.79% 0.34%

Cash paid, 1 year 6.2% 1.9% (since launch, Aug 19, 2026)

Price change, 1 year −0.1% −2.0% (since launch, Aug 19, 2026)

Total return, 1 year +6.2% −0.1% (since launch, Aug 19, 2026)

Benchmark return, 1 year +14.8% not published

Ahead or behind −8.6 pts not available

Return of capital, latest estimate 53% not published

Age 3.6 years 77 days

Net assets, APRJ as of Nov 3, 2026 and PCOV as of Nov 2, 2026 $27m $10m

As of Nov 4, 2026. Source: ETFIQ. Cash paid: distributions over the window, as a share of the starting price. Payout rate: the latest payment, annualized, over today’s price.

Window by window

Window by window: APRJ vs PCOV: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	APRJ	PCOV	APRJ	PCOV	APRJ	PCOV
3 months	+1.0%	–	1.7%	–	+1.2 pts	–
6 months	+2.5%	–	3.4%	–	−2.5 pts	–
1 year	+6.2%	–	6.2%	–	−8.6 pts	–
3 years	+19.2%	–	17.7%	–	−63.7 pts	–
Since launchNot the same days: APRJ Apr 2023 · PCOV Aug 2026	+24.5%	−0.1%	21.1%	1.9%	−70.4 pts	not measured

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Alert

About each fund

APRJ

Over the year to Nov 4, 2026, APRJ paid 6.2% of its starting value in cash distributions while its price fell 0.1%. With every distribution reinvested, the fund returned +6.2%. S&P 500 (SPY) returned +14.8% over the same days, so a holder was behind by 8.6 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 6.9%, paid quarterly. Innovator estimates that 53% of the distribution paid Oct 2, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.

PCOV

Over the period from its first trade on Aug 19, 2026 to Nov 4, 2026, PCOV paid 1.9% of its starting value in cash distributions while its price fell 2.0%. With every distribution reinvested, the fund returned −0.1%. At its price on Nov 4, 2026 the latest distribution annualizes to 7.2%, paid periodically.

Questions people ask

Which is cheaper, APRJ or PCOV?: APRJ charges 0.79% a year and PCOV charges 0.34%, so PCOV is cheaper. Fees come from each fund's prospectus.

Other comparisons

APRJ vs FDND APRJ vs XSHP APRJ vs DDDD APRJ vs TLA PCOV vs ROCY PCOV vs OMAH PCOV vs ISPY PCOV vs BALI

Where to next

S&P 500 (SPY) →All income ETFs ranked by the Distribution Coverage Score →How the scores are computed →APRJ on its own →PCOV on its own →APRJ dividend history →PCOV dividend history →Method →Standards and sources →

Sources and dates

APRJ filings on SEC EDGAR ↗

APRJ prospectus with the expense ratio (SEC) ↗

APRJ 19a-1 distribution notice ↗

Innovator page for APRJ ↗

PCOV filings on SEC EDGAR ↗

PCOV prospectus with the expense ratio (SEC) ↗

Principal website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, APRJ against PCOV, data as of Nov 4, 2026. https://etfiq.com/compare/income/aprj-vs-pcov

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