Which is cheaper, FTQI or PCOV?

FTQI charges 0.75% 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

FTQI vs PCOV: Dividend Yield & Total Return

FTQI and PCOV both write options for income.

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Net assets: $997m on Nov 3, 2026 for First Trust Nasdaq BuyWrite Income ETF, and $10m on Nov 2, 2026 for Principal Equity Premium Income ETF.

FTQI on its own →PCOV on its own →

At a glance

12.1%

FTQI cash paid, 1 year

1.9%

PCOV cash paid, since launch, Aug 19, 2026

+16.5%

FTQI total return, 1 year

−0.1%

PCOV total return, since launch, Aug 19, 2026

FTQI · 1 year to Nov 4, 2026 4.2 pts ahead of QQQ

FTQI

+16.5%

QQQ

+12.3%

4.2 pts ahead of QQQ

FTQI over 1 year: paid 12.1%, price +3.5%, total +16.5%, QQQ +12.3%, +4.2 pts. Data to Nov 4, 2026.

QQQ

+12.3%

FTQI

+16.5%

12.1% of it arrived as cash

4.2 pts ahead of QQQ

Total return, distributions reinvested

4.2 pts ahead of QQQ

FTQI over 1 year: paid 12.1%, price +3.5%, total +16.5%, QQQ +12.3%, +4.2 pts. Data to Nov 4, 2026.

QQQ

+12.3%

FTQI

+16.5%

12.1% as cash

4.2 pts ahead of QQQ

12.1% of it arrived as cash. Total return, distributions reinvested. FTQI over 1 year: paid 12.1%, price +3.5%, total +16.5%, QQQ +12.3%, +4.2 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 0.41 points a year less; FTQI is far larger, $997m against $10m.

Points (pts) are percentage points.

FTQI vs PCOV: Dividend Yield & Total Return
Measure	FTQI	PCOV
Paid and earned
Measure	FTQI	PCOV
Total return, 1 year	+16.5%	not published
Price change	rose 3.5% (1 year)	fell 2.0% (since Aug 19, 2026)
Return of capital, issuer estimate	99% of the Oct 30, 2026 payment
Against its benchmark
Measure	FTQI	PCOV
Benchmark	Nasdaq-100, measured through QQQ	not published
Cost and size
Measure	FTQI	PCOV
Expense ratio	0.75%	0.34%
Net assets, as of Nov 3, 2026	$997m	$10m
Holdings
Measure	FTQI	PCOV
Holdings in common	not published

Method

Side by side

FTQI First Trust Nasdaq BuyWrite Income ETF · Covered call on QQQ, paying monthly PCOV Principal Equity Premium Income ETF · Covered call

Issuer First Trust Principal

Strategy covered call covered call

Benchmark Nasdaq-100 (QQQ) none

Pays monthly not established

Payout rate, annualized 12.3% 7.2%

Expense ratio 0.75% 0.34%

Cash paid, 1 year 12.1% 1.9% (since launch, Aug 19, 2026)

Price change, 1 year +3.5% −2.0% (since launch, Aug 19, 2026)

Total return, 1 year +16.5% −0.1% (since launch, Aug 19, 2026)

Benchmark return, 1 year +12.3% not published

Ahead or behind +4.2 pts not available

Return of capital, latest estimate 99% not published

Age 12.8 years 77 days

Net assets, FTQI as of Nov 3, 2026 and PCOV as of Nov 2, 2026 $997m $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: FTQI vs PCOV: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	FTQI	PCOV	FTQI	PCOV	FTQI	PCOV
3 months	+0.4%	–	3.0%	–	+3.8 pts	–
6 months	+6.6%	–	6.0%	–	+6.9 pts	–
1 year	+16.5%	–	12.1%	–	+4.3 pts	–
3 years	+60.8%	–	38.1%	–	−30.5 pts	–
Since launchNot the same days: FTQI Jan 2014 · PCOV Aug 2026	+138.8%	−0.1%	81.1%	1.9%	−641.3 pts	not measured

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Alert

About each fund

FTQI

Over the year to Nov 4, 2026, FTQI paid 12.1% of its starting value in cash distributions while its price rose 3.5%. With every distribution reinvested, the fund returned +16.5%. Nasdaq-100 (QQQ) returned +12.3% over the same days, so a holder was ahead by 4.2 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 12.3%, paid monthly. First Trust estimates that 99% 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.

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, FTQI or PCOV?: FTQI charges 0.75% a year and PCOV charges 0.34%, so PCOV is cheaper. Fees come from each fund's prospectus.

Other comparisons

FTQI vs XSHP FTQI vs YQQQ FTQI vs XVSP FTQI vs SIOO PCOV vs QDTE PCOV vs GPIQ PCOV vs QYLD PCOV vs QQQI

Where to next

Nasdaq-100 (QQQ) →All income ETFs ranked by the Distribution Coverage Score →How the scores are computed →FTQI on its own →PCOV on its own →FTQI dividend history →FTQI holdings →PCOV dividend history →Method →Standards and sources →

Sources and dates

FTQI filings on SEC EDGAR ↗

FTQI prospectus with the expense ratio (SEC) ↗

FTQI 19a-1 distribution notice ↗

First Trust page for FTQI ↗

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

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