Data as of Nov 4, 2026.

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Income ETFs

BALQ vs SPIN: Dividend Yield & Total Return

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BALQ and SPIN both write options for income.

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Net assets on Nov 3, 2026: $43m for iShares Nasdaq Premium Income Active ETF and $45m for State Street US Equity Premium Income ETF.

At a glance
10.0%
BALQ cash paid, since launch, Dec 3, 2025
5.1%
SPIN cash paid, 1 year
+15.6%
BALQ total return, since launch, Dec 3, 2025
+9.3%
SPIN 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.
SPIN · 1 year to Nov 4, 2026 5.5 pts behind SPY
SPIN
+9.3%
SPY
+14.8%

5.5 pts behind SPY

SPIN over 1 year: paid 5.1%, price +3.9%, total +9.3%, SPY +14.8%, −5.5 pts. Data to Nov 4, 2026.

SPY

+14.8%

SPIN

+9.3%

5.1% of it arrived as cash

5.5 pts behind SPY

Total return, distributions reinvested

5.5 pts behind SPY

SPIN over 1 year: paid 5.1%, price +3.9%, total +9.3%, SPY +14.8%, −5.5 pts. Data to Nov 4, 2026.

SPY

+14.8%

SPIN

+9.3%

5.5 pts behind SPY

5.1% of it arrived as cash. Both charts share one scale, 0 to +15.6%. SPIN over 1 year: paid 5.1%, price +3.9%, total +9.3%, SPY +14.8%, −5.5 pts. Data to Nov 4, 2026.

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

Pair scorecard

SPIN costs 0.10 points a year less.

Points (pts) are percentage points.

BALQ vs SPIN: Dividend Yield & Total Return
MeasureBALQSPIN
Paid and earned
Total return, 1 yearnot published+9.3%
Price changerose 5.1% (since Dec 3, 2025)rose 3.9% (1 year)
Return of capital, issuer estimate97% of the Nov 5, 2026 payment97% of the Nov 5, 2026 payment
Against its benchmark
BenchmarkNasdaq-100, measured through QQQS&P 500, measured through SPY
Cost and size
Expense ratio0.35%0.25%
Net assets, as of Nov 3, 2026$43m$45m
Holdings
Holdings in common48%

Method

What they share

48%

By the books each fund has filed, BALQ and SPIN hold 48% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026.

0 half 100%

half

48% in common

Positions both hold · largest shared weight first BALQ SPIN
NVIDIA 8.33% 9.22%
MICROSOFT 7.46% 7.47%
APPLE 7.82% 6.03%
AMAZON.COM INC 5.04% 4.87%
BROADCOM INC 2.99% 3.37%
META PLATFORMS CLASS A 3.09% 2.93%
ALPHABET CLASS A 2.75% 4.59%
MICRON TECHNOLOGY 4.74% 2.50%
ADVANCED MICRO DEVICES 4.10% 1.94%
APPLIED MATERIAL INC 1.71% 1.41%
GOLDMAN SACHS GROUP 0.82% 0.74%
WALMART 2.97% 0.74%
Only in one fund ↓
Only in BALQ
CISCO SYSTEMS INC 2.30%
SPACE EXPLORATION TECHNOLOGIES COR 2.10%
INTEL CORPORATION 1.71%
QUALCOMM 1.18%
VALERO ENERGY CORP 0.79%
VERIZON COMMUNICATIONS INC 0.74%
INTUIT 0.72%
ADOBE INC 0.71%
Only in SPIN
ELI LILLY + CO 2.50%
EXXONMOBIL HOLDINGS CORP 2.28%
JPMORGAN CHASE + CO 2.13%
JOHNSON + JOHNSON 1.87%
VISA INC CLASS A SHARES 1.73%
AMPHENOL CORP CL A 1.41%
HOME DEPOT INC 1.39%
EMERSON ELECTRIC CO 1.30%
Check overlap with more funds →

Side by side

BALQ iShares Nasdaq Premium Income Active ETF · Covered call on QQQ, paying monthly SPIN State Street US Equity Premium Income ETF · Covered call on SPY, paying monthly
Strategy covered call covered call
Benchmark Nasdaq-100 (QQQ) S&P 500 (SPY)
Pays monthly monthly
Payout rate, annualized 8.5% 5.5%
Expense ratio 0.35% 0.25%
Cash paid, 1 year 10.0% (since launch, Dec 3, 2025) 5.1%
Price change, 1 year +5.1% (since launch, Dec 3, 2025) +3.9%
Total return, 1 year +15.6% (since launch, Dec 3, 2025) +9.3%
Benchmark return, 1 year +11.5% (since launch, Dec 3, 2025) +14.8%
Ahead or behind +4.1 pts (since launch, Dec 3, 2025) −5.5 pts
Return of capital, latest estimate 97% 97%
Age 336 days 2.2 years
Net assets, as of Nov 3, 2026 $43m $45m

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 SPIN: Dividend Yield & Total Return
Total returnCash paidAgainst the benchmark
WindowBALQSPINBALQSPINBALQSPIN
3 months−3.8%+0.8%2.1%0.9%−0.3 pts+0.9 pts
6 months+1.3%+6.0%5.2%1.9%+1.7 pts+1.0 pts
1 year–+9.3%–5.1%–−5.5 pts
Since launchNot the same days: BALQ Dec 2025 · SPIN Sep 2024+15.6%+30.3%10.0%16.0%+4.1 pts−12.9 pts

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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.

SPIN

Over the year to Nov 4, 2026, SPIN paid 5.1% of its starting value in cash distributions while its price rose 3.9%. With every distribution reinvested, the fund returned +9.3%. S&P 500 (SPY) returned +14.8% over the same days, so a holder was behind by 5.5 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 5.5%, paid monthly. State Street estimates that 97% of the distribution paid Nov 5, 2026 was a return of capital (its 19a-1 notice).

Questions people ask

Which is cheaper, BALQ or SPIN?
BALQ charges 0.35% a year and SPIN charges 0.25%, so SPIN is cheaper. Fees come from each fund's prospectus.
Other comparisons
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ETFIQ, BALQ against SPIN, data as of Nov 4, 2026. https://etfiq.com/compare/income/balq-vs-spin

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