Which is cheaper, BALQ or SCLZ?

BALQ charges 0.35% a year and SCLZ charges 0.79%, so BALQ is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

BALQ vs SCLZ: Dividend Yield & Total Return

BALQ and SCLZ both write options for income.

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Net assets: $43m on Nov 3, 2026 for iShares Nasdaq Premium Income Active ETF, and $20m on Jun 30, 2026 for Swan Enhanced Dividend Income ETF.

BALQ on its own →SCLZ on its own →

At a glance

10.0%

BALQ cash paid, since launch, Dec 3, 2025

8.5%

SCLZ cash paid, 1 year

+15.6%

BALQ total return, since launch, Dec 3, 2025

+10.6%

SCLZ total return, 1 year

BALQ · since launch to Nov 4, 2026 4.1 pts ahead of QQQ

BALQ

+15.6%

QQQ

+11.5%

4.1 pts ahead of QQQ

BALQ since launch: paid 10.0%, price +5.1%, total +15.6%, QQQ +11.5%, +4.1 pts. Data to Nov 4, 2026.

QQQ

+11.5%

BALQ

+15.6%

10.0% of it arrived as cash

4.1 pts ahead of QQQ

Total return, distributions reinvested

4.1 pts ahead of QQQ

BALQ since launch: paid 10.0%, price +5.1%, total +15.6%, QQQ +11.5%, +4.1 pts. Data to Nov 4, 2026.

QQQ

+11.5%

BALQ

+15.6%

10.0% cash

4.1 pts ahead of QQQ

10.0% of it arrived as cash. Total return, distributions reinvested. BALQ since launch: paid 10.0%, price +5.1%, total +15.6%, QQQ +11.5%, +4.1 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

SCLZ · 1 year to Nov 4, 2026 4.2 pts behind SPY

SCLZ

+10.6%

SPY

+14.8%

4.2 pts behind SPY

SCLZ over 1 year: paid 8.5%, price +1.6%, total +10.6%, SPY +14.8%, −4.2 pts. Data to Nov 4, 2026.

SPY

+14.8%

SCLZ

+10.6%

8.5% of it arrived as cash

4.2 pts behind SPY

Total return, distributions reinvested

4.2 pts behind SPY

SCLZ over 1 year: paid 8.5%, price +1.6%, total +10.6%, SPY +14.8%, −4.2 pts. Data to Nov 4, 2026.

SPY

+14.8%

SCLZ

+10.6%

8.5% cash

4.2 pts behind SPY

8.5% of it arrived as cash. Both charts share one scale, 0 to +15.6%. SCLZ over 1 year: paid 8.5%, price +1.6%, total +10.6%, SPY +14.8%, −4.2 pts. Data to Nov 4, 2026.

Both charts share one scale, 0 to +15.6%. Data to Nov 4, 2026.

Pair scorecard

BALQ costs 0.44 points a year less.

Points (pts) are percentage points.

BALQ vs SCLZ: Dividend Yield & Total Return
Measure	BALQ	SCLZ
Paid and earned
Measure	BALQ	SCLZ
Total return, 1 year	not published	+10.6%
Price change	rose 5.1% (since Dec 3, 2025)	rose 1.6% (1 year)
Return of capital, issuer estimate	97% of the Nov 5, 2026 payment
Against its benchmark
Measure	BALQ	SCLZ
Benchmark	Nasdaq-100, measured through QQQ	S&P 500, measured through SPY
Cost and size
Measure	BALQ	SCLZ
Expense ratio	0.35%	0.79%
Net assets, BALQ as of Nov 3, 2026 and SCLZ as of Jun 30, 2026	$43m	$20m
Holdings
Measure	BALQ	SCLZ
Holdings in common	47%

Method

What they share

47%

By the books each fund has filed, BALQ and SCLZ hold 47% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Nov 3, 2026.

50%

0 half 100%

half

47% in common

Positions both hold · largest shared weight first BALQ SCLZ

APPLE 7.82% 6.20%

NVIDIA 8.33% 6.03%

MICRON TECHNOLOGY 4.74% 7.95%

ADVANCED MICRO DEVICES 4.10% 5.18%

AMAZON.COM INC 5.04% 3.77%

MICROSOFT 7.46% 3.74%

META PLATFORMS CLASS A 3.09% 3.36%

BROADCOM INC 2.99% 4.74%

ALPHABET CLASS A 2.75% 5.22%

CISCO SYSTEMS INC 2.30% 3.03%

TESLA INC 2.88% 1.81%

WALMART 2.97% 1.49%

Only in one fund ↓

Only in BALQ

ALPHABET CLASS C 2.44%

SPACE EXPLORATION TECHNOLOGIES COR 2.10%

APPLIED MATERIAL INC 1.71%

INTEL CORPORATION 1.71%

LAM RESEARCH 1.64%

QUALCOMM 1.18%

GOLDMAN SACHS GROUP 0.82%

VALERO ENERGY CORP 0.79%

Only in SCLZ

ELI LILLY & COMPANY 3.88%

JP MORGAN CHASE & COMPANY 3.53%

BERKSHIRE HATHAWAY INC 3.12%

GE AEROSPACE 2.76%

JOHNSON & JOHNSON 2.43%

VISA INC 2.29%

EXXON MOBIL CORP 1.94%

MASTERCARD INC 1.75%

Check overlap with more funds →

Side by side

BALQ iShares Nasdaq Premium Income Active ETF · Covered call on QQQ, paying monthly SCLZ Swan Enhanced Dividend Income ETF · Dividend stocks with call overlay on SPY, paying monthly

Issuer iShares Swan

Strategy covered call dividend stocks with call overlay

Benchmark Nasdaq-100 (QQQ) S&P 500 (SPY)

Pays monthly monthly

Payout rate, annualized 8.5% 8.7%

Expense ratio 0.35% 0.79%

Cash paid, 1 year 10.0% (since launch, Dec 3, 2025) 8.5%

Price change, 1 year +5.1% (since launch, Dec 3, 2025) +1.6%

Total return, 1 year +15.6% (since launch, Dec 3, 2025) +10.6%

Benchmark return, 1 year +11.5% (since launch, Dec 3, 2025) +14.8%

Ahead or behind +4.1 pts (since launch, Dec 3, 2025) −4.2 pts

Return of capital, latest estimate 97% not published

Age 336 days 2.7 years

Net assets, BALQ as of Nov 3, 2026 and SCLZ as of Jun 30, 2026 $43m $20m

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: BALQ vs SCLZ: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	BALQ	SCLZ	BALQ	SCLZ	BALQ	SCLZ
3 months	−3.8%	0.0%	2.1%	2.1%	−0.3 pts	+0.2 pts
6 months	+1.3%	+4.4%	5.2%	4.3%	+1.7 pts	−0.6 pts
1 year	–	+10.6%	–	8.5%	–	−4.2 pts
Since launchNot the same days: BALQ Dec 2025 · SCLZ Feb 2024	+15.6%	+35.4%	10.0%	21.2%	+4.1 pts	−20.8 pts

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Alert

About each fund

BALQ

Over the period from its first trade on Dec 3, 2025 to Nov 4, 2026, BALQ paid 10.0% of its starting value in cash distributions while its price rose 5.1%. With every distribution reinvested, the fund returned +15.6%. Nasdaq-100 (QQQ) returned +11.5% over the same days, so a holder was ahead by 4.1 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 8.5%, paid monthly. iShares estimates that 97% 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.

SCLZ

Over the year to Nov 4, 2026, SCLZ paid 8.5% of its starting value in cash distributions while its price rose 1.6%. With every distribution reinvested, the fund returned +10.6%. S&P 500 (SPY) returned +14.8% over the same days, so a holder was behind by 4.2 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 8.7%, paid monthly.

Questions people ask

Which is cheaper, BALQ or SCLZ?: BALQ charges 0.35% a year and SCLZ charges 0.79%, so BALQ is cheaper. Fees come from each fund's prospectus.

Other comparisons

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Where to next

Nasdaq-100 (QQQ) →S&P 500 (SPY) →All income ETFs ranked by the Distribution Coverage Score →How the scores are computed →BALQ on its own →SCLZ on its own →BALQ dividend history →BALQ holdings →SCLZ dividend history →SCLZ holdings →Method →Standards and sources →

Sources and dates

BALQ filings on SEC EDGAR ↗

BALQ prospectus with the expense ratio (SEC) ↗

BALQ 19a-1 distribution notice ↗

iShares page for BALQ ↗

SCLZ filings on SEC EDGAR ↗

SCLZ prospectus with the expense ratio (SEC) ↗

Swan website ↗

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

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, BALQ against SCLZ, data as of Nov 4, 2026. https://etfiq.com/compare/income/balq-vs-sclz

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.