Which is cheaper, BALI or PCOV?

BALI charges 0.35% 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

BALI vs PCOV: Dividend Yield & Total Return

BALI and PCOV both write options for income.

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Net assets: $1.5bn on Nov 3, 2026 for iShares U.S. Large Cap Premium Income Active ETF, and $10m on Nov 2, 2026 for Principal Equity Premium Income ETF.

BALI on its own →PCOV on its own →

At a glance

8.4%

BALI cash paid, 1 year

1.9%

PCOV cash paid, since launch, Aug 19, 2026

+17.6%

BALI total return, 1 year

−0.1%

PCOV total return, since launch, Aug 19, 2026

BALI · 1 year to Nov 4, 2026 2.8 pts ahead of SPY

BALI

+17.6%

SPY

+14.8%

2.8 pts ahead of SPY

BALI over 1 year: paid 8.4%, price +8.4%, total +17.6%, SPY +14.8%, +2.8 pts. Data to Nov 4, 2026.

SPY

+14.8%

BALI

+17.6%

8.4% of it arrived as cash

2.8 pts ahead of SPY

Total return, distributions reinvested

2.8 pts ahead of SPY

BALI over 1 year: paid 8.4%, price +8.4%, total +17.6%, SPY +14.8%, +2.8 pts. Data to Nov 4, 2026.

SPY

+14.8%

BALI

+17.6%

2.8 pts ahead of SPY

8.4% of it arrived as cash. Total return, distributions reinvested. BALI over 1 year: paid 8.4%, price +8.4%, total +17.6%, SPY +14.8%, +2.8 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 0.01 points a year less; BALI is far larger, $1.5bn against $10m.

Points (pts) are percentage points.

BALI vs PCOV: Dividend Yield & Total Return
Measure	BALI	PCOV
Paid and earned
Measure	BALI	PCOV
Total return, 1 year	+17.6%	not published
Price change	rose 8.4% (1 year)	fell 2.0% (since Aug 19, 2026)
Return of capital, issuer estimate	84% of the Nov 5, 2026 payment
Against its benchmark
Measure	BALI	PCOV
Benchmark	S&P 500, measured through SPY	not published
Cost and size
Measure	BALI	PCOV
Expense ratio	0.35%	0.34%
Net assets, as of Nov 3, 2026	$1.5bn	$10m
Holdings
Measure	BALI	PCOV
Holdings in common	not published

Method

Side by side

BALI iShares U.S. Large Cap Premium Income Active ETF · Covered call on SPY, paying monthly PCOV Principal Equity Premium Income ETF · Covered call

Issuer iShares Principal

Strategy covered call covered call

Benchmark S&P 500 (SPY) none

Pays monthly not established

Payout rate, annualized 6.5% 7.2%

Expense ratio 0.35% 0.34%

Cash paid, 1 year 8.4% 1.9% (since launch, Aug 19, 2026)

Price change, 1 year +8.4% −2.0% (since launch, Aug 19, 2026)

Total return, 1 year +17.6% −0.1% (since launch, Aug 19, 2026)

Benchmark return, 1 year +14.8% not published

Ahead or behind +2.8 pts not available

Return of capital, latest estimate 84% not published

Age 3.1 years 77 days

Net assets, BALI as of Nov 3, 2026 and PCOV as of Nov 2, 2026 $1.5bn $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: BALI vs PCOV: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	BALI	PCOV	BALI	PCOV	BALI	PCOV
3 months	0.0%	–	1.7%	–	+0.1 pts	–
6 months	+6.5%	–	3.7%	–	+1.4 pts	–
1 year	+17.6%	–	8.4%	–	+2.8 pts	–
3 years	+74.1%	–	29.6%	–	−8.8 pts	–
Since launchNot the same days: BALI Sep 2023 · PCOV Aug 2026	+77.2%	−0.1%	30.6%	1.9%	−8.4 pts	not measured

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Alert

About each fund

BALI

Over the year to Nov 4, 2026, BALI paid 8.4% of its starting value in cash distributions while its price rose 8.4%. With every distribution reinvested, the fund returned +17.6%. S&P 500 (SPY) returned +14.8% over the same days, so a holder was ahead by 2.8 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 6.5%, paid monthly. iShares estimates that 84% of the distribution paid Nov 5, 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, BALI or PCOV?: BALI charges 0.35% a year and PCOV charges 0.34%, so PCOV is cheaper. Fees come from each fund's prospectus.

Other comparisons

BALI vs FDND BALI vs DDDD BALI vs DYLG BALI vs XVSP PCOV vs SPYI PCOV vs JEPI PCOV vs ISPY PCOV vs OMAH

Where to next

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

Sources and dates

BALI filings on SEC EDGAR ↗

BALI prospectus with the expense ratio (SEC) ↗

BALI 19a-1 distribution notice ↗

iShares page for BALI ↗

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

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