Data as of .
CVRD vs TCAL: which paid, and which earned it?
Over the year TCAL paid 11.4% of its price in cash against CVRD’s 7.4%, though CVRD returned more with it reinvested.
ETFIQ Return Stability Score: CVRD scores higher
Was the payout funded by returns, or by your own capital?
A percentile among the 173 income ETFs writing on an index or proxy. It is a position in a set, not a rating, and neither end of it is a recommendation. All income ETFs ranked by it · How it is computed
What they hold in common
By the books each fund has filed, CVRD and TCAL hold 15% of their money in the same securities at the same weight.
| Holding | CVRD | TCAL |
|---|---|---|
| Danaher Corp | 4.32% | 2.01% |
| Visa Inc | 3.68% | 1.69% |
| Amazon.com Inc | 4.06% | 1.53% |
| Microsoft Corp | 3.88% | 1.50% |
| Stryker Corp | 1.99% | 1.50% |
| Marsh & McLennan Cos Inc | 2.84% | 1.16% |
| PepsiCo Inc | 3.07% | 1.16% |
| Meta Platforms Inc | 2.66% | 1.01% |
| Broadcom Inc | 3.57% | 0.95% |
| Synopsys Inc | 2.53% | 0.95% |
| Illinois Tool Works Inc | 2.22% | 0.74% |
| Honeywell International Inc | 1.48% | 0.40% |
| Only in CVRD | Only in TCAL |
|---|---|
| Palo Alto Networks Inc 4.84% | WATERS CORP 1.97% |
| Archer-Daniels-Midland Co 4.58% | VERALTO CORP 1.87% |
| Agilent Technologies Inc 3.98% | WASTE CONNECTIONS INC 1.80% |
| Union Pacific Corp 3.17% | YUM BRANDS INC 1.72% |
| Blackrock Inc 3.03% | MCDONALD S CORP 1.70% |
| American Tower Corp 2.99% | LINDE PLC 1.63% |
| Lowe's Cos Inc 2.99% | LOCKHEED MARTIN CORP 1.60% |
| Matador Resources Co 2.98% | NORTHROP GRUMMAN CORP 1.56% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated Jun 30, 2026.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| CVRD | TCAL | CVRD | TCAL | CVRD | TCAL | |
| 3 months | +4.0% | +4.2% | 1.7% | 3.5% | +1.7 pts | +1.9 pts |
| 6 months | +5.7% | +5.3% | 3.3% | 6.3% | −12.3 pts | −12.7 pts |
| 1 year | +5.6% | +3.0% | 7.4% | 11.4% | −11.0 pts | −13.5 pts |
| 3 years | +19.5% | not published | 25.9% | not published | −58.9 pts | not published |
| Since launch | +21.1% | +3.9% | 26.3% | 15.2% | −59.8 pts | −32.7 pts |
| CVRD Madison Covered Call ETF Covered call on SPY, paying quarterly | TCAL T. Rowe Price Capital Appreciation Premium Income ETF Covered call on SPY, paying monthly | |
|---|---|---|
| Issuer | Madison | T. Rowe Price |
| Strategy | covered call | covered call |
| Benchmark | S&P 500 (SPY), used as a default proxy | S&P 500 (SPY), used as a default proxy |
| Pays | quarterly | monthly |
| Payout rate, annualized | 6.5% | 9.4% |
| Expense ratio | 0.92% | 0.34% |
| Cash paid, 1 year | 7.4% | 11.4% |
| Price change, 1 year | −2.2% | −8.6% |
| Total return, 1 year | +5.6% | +3.0% |
| Benchmark return, 1 year | +16.6% | +16.6% |
| Ahead or behind | −11.0 pts | −13.5 pts |
| Return of capital, latest estimate | not published | not published |
| Age | 1123 days | 540 days |
| Net assets | $32m | $276m |
CVRD in plain words
Over the year to Sep 18, 2026, CVRD paid 7.4% of its starting value in cash distributions while its price fell 2.2%. With every distribution reinvested, the fund returned +5.6%. S&P 500 (SPY), used as a default proxy returned +16.6% over the same days, so a holder was behind by 11.0 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 6.5%, paid quarterly.
TCAL in plain words
Over the year to Sep 18, 2026, TCAL paid 11.4% of its starting value in cash distributions while its price fell 8.6%. With every distribution reinvested, the fund returned +3.0%. S&P 500 (SPY), used as a default proxy returned +16.6% over the same days, so a holder was behind by 13.5 pts. At its price on Sep 18, 2026 the latest distribution annualizes to 9.4%, paid monthly.
Questions people ask
- Which paid more, CVRD or TCAL?
- Over the year to Sep 18, 2026, CVRD paid 7.4% of its starting price in cash and TCAL paid 11.4%, so TCAL paid more. Cash paid is not the same as money made: the price change matters too.
- Which returned more once distributions are counted, CVRD or TCAL?
- With every distribution reinvested, CVRD returned +5.6% and TCAL returned +3.0% over the year to Sep 18, 2026, so CVRD returned more.
- Which is cheaper, CVRD or TCAL?
- CVRD charges 0.92% a year and TCAL charges 0.34%, so TCAL is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, CVRD against TCAL, data as of Sep 18, 2026. https://etfiq.com/compare/income/cvrd-vs-tcal Free to use with attribution; the underlying files are at Open data.