Data as of Nov 4, 2026.
CVRD vs NLSI: Dividend Yield & Total Return
CVRD and NLSI both write options for income.
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Net assets: $32m on Jun 30, 2026 for Madison Covered Call ETF, and $5.3m on Oct 28, 2026 for NEOS Long/Short Equity Income ETF.
10.4 pts behind its own stocks
CVRD over 1 year: paid 7.7%, price +4.3%, total +12.7%, its own stocks +23.1%, −10.4 pts. Data to Nov 4, 2026.
its own stocks
+23.1%
CVRD
+12.7%
7.7% of it arrived as cash
10.4 pts behind its own stocks
Total return, distributions reinvested
10.4 pts behind its own stocks
CVRD over 1 year: paid 7.7%, price +4.3%, total +12.7%, its own stocks +23.1%, −10.4 pts. Data to Nov 4, 2026.
its own stocks
+23.1%
CVRD
+12.7%
10.4 pts behind its own stocks
7.7% of it arrived as cash. Total return, distributions reinvested. CVRD over 1 year: paid 7.7%, price +4.3%, total +12.7%, its own stocks +23.1%, −10.4 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.5 pts ahead of SPY
NLSI since launch: paid 5.0%, price +12.0%, total +17.7%, SPY +12.7%, +5.0 pts. Data to Nov 4, 2026.
SPY
+12.7%
NLSI
+17.7%
5.0% as cash
5 pts ahead of SPY
Total return, distributions reinvested
5 pts ahead of SPY
NLSI since launch: paid 5.0%, price +12.0%, total +17.7%, SPY +12.7%, +5.0 pts. Data to Nov 4, 2026.
SPY
+12.7%
NLSI
+17.7%
5 pts ahead of SPY
5.0% of it arrived as cash. Both charts share one scale, 0 to +23.1%. NLSI since launch: paid 5.0%, price +12.0%, total +17.7%, SPY +12.7%, +5.0 pts. Data to Nov 4, 2026.
Both charts share one scale, 0 to +23.1%. Data to Nov 4, 2026.Pair scorecard
CVRD costs 1.99 points a year less.
Points (pts) are percentage points.
| Measure | CVRD | NLSI |
|---|---|---|
| Paid and earned | ||
| Total return, 1 year | +12.7% | not published |
| Price change | rose 4.3% (1 year) | rose 12.0% (since Dec 10, 2025) |
| Against its benchmark | ||
| Benchmark | its own stocks | S&P 500, measured through SPY |
| Against its benchmark, same days | behind by 10.4 pts | ahead by 5.0 pts |
| Cost and size | ||
| Expense ratio | 0.90% | 2.89% |
| Net assets, CVRD as of Jun 30, 2026 and NLSI as of Oct 28, 2026 | $32m | $5.3m |
| Holdings | ||
| Holdings in common | 5% | |
What they share
By the books each fund has filed, CVRD and NLSI hold 5% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Nov 3, 2026.
half
5% in common
Only in one fund ↓
Side by side
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
| Total return | Cash paid | Against the benchmark | ||||
|---|---|---|---|---|---|---|
| Window | CVRD | NLSI | CVRD | NLSI | CVRD | NLSI |
| 3 months | +5.7% | +6.7% | 1.6% | 1.4% | −0.8 pts | +6.9 pts |
| 6 months | +5.8% | +21.4% | 3.2% | 3.0% | −3.8 pts | +16.4 pts |
| 1 year | +12.7% | – | 7.7% | – | −10.4 pts | – |
| 3 years | +26.9% | – | 27.7% | – | not measured | – |
| Since launchNot the same days: CVRD Aug 2023 · NLSI Dec 2025 | +27.2% | +17.7% | 27.8% | 5.0% | not measured | +4.9 pts |
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CVRD
Over the year to Nov 4, 2026, CVRD paid 7.7% of its starting value in cash distributions while its price rose 4.3%. With every distribution reinvested, the fund returned +12.7%. CVRD's own stocks, without the options (from its filed holdings, rebalanced at each filing; latest Jun 30, 2026) returned +23.1% over the same days, so a holder was behind by 10.4 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 6.3%, paid quarterly.
NLSI
Over the period from its first trade on Dec 10, 2025 to Nov 4, 2026, NLSI paid 5.0% of its starting value in cash distributions while its price rose 12.0%. With every distribution reinvested, the fund returned +17.7%. S&P 500 (SPY) returned +12.7% over the same days, so a holder was ahead by 5.0 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 5.6%, paid monthly. NEOS estimates that 100% of the distribution paid Oct 30, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.
Questions people ask
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.
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ETFIQ, CVRD against NLSI, data as of Nov 4, 2026. https://etfiq.com/compare/income/cvrd-vs-nlsi
ETFIQ. (Nov 4, 2026). CVRD against NLSI. Retrieved from https://etfiq.com/compare/income/cvrd-vs-nlsi
[CVRD against NLSI (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/income/cvrd-vs-nlsi)
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