Which is cheaper, FTQI or TPAY?

FTQI charges 0.75% a year and TPAY charges 0.49%, so TPAY is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

FTQI vs TPAY: Dividend Yield & Total Return

FTQI and TPAY both write options for income.

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Net assets: $997m on Nov 3, 2026 for First Trust Nasdaq BuyWrite Income ETF, and $2.1m on Nov 4, 2026 for Roundhill S&P 500 Target 10 Managed Distribution ETF.

FTQI on its own →TPAY on its own →

At a glance

12.1%

FTQI cash paid, 1 year

6.6%

TPAY cash paid, since launch, Feb 18, 2026

+16.5%

FTQI total return, 1 year

+11.6%

TPAY total return, since launch, Feb 18, 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.

TPAY · since launch to Nov 4, 2026 1 pt behind VOO

TPAY

+11.6%

VOO

+12.6%

1 pt behind VOO

TPAY since launch: paid 6.6%, price +4.6%, total +11.6%, VOO +12.6%, −1.0 pts. Data to Nov 4, 2026.

VOO

+12.6%

TPAY

+11.6%

6.6% of it arrived as cash

1 pt behind VOO

Total return, distributions reinvested

1 pt behind VOO

TPAY since launch: paid 6.6%, price +4.6%, total +11.6%, VOO +12.6%, −1.0 pts. Data to Nov 4, 2026.

VOO

+12.6%

TPAY

+11.6%

1 pt behind VOO

6.6% of it arrived as cash. Both charts share one scale, 0 to +16.5%. TPAY since launch: paid 6.6%, price +4.6%, total +11.6%, VOO +12.6%, −1.0 pts. Data to Nov 4, 2026.

Both charts share one scale, 0 to +16.5%. Data to Nov 4, 2026.

Pair scorecard

TPAY costs 0.26 points a year less; FTQI is far larger, $997m against $2.1m.

Points (pts) are percentage points.

FTQI vs TPAY: Dividend Yield & Total Return
Measure	FTQI	TPAY
Paid and earned
Measure	FTQI	TPAY
Total return, 1 year	+16.5%	not published
Price change	rose 3.5% (1 year)	rose 4.6% (since Feb 18, 2026)
Return of capital, issuer estimate	99% of the Oct 30, 2026 payment	100% of the Oct 15, 2026 payment
Against its benchmark
Measure	FTQI	TPAY
Benchmark	Nasdaq-100, measured through QQQ	Vanguard S&P 500 ETF, measured through VOO
Against its benchmark, same days	ahead by 4.2 pts	behind by 1.0 pts
Cost and size
Measure	FTQI	TPAY
Expense ratio	0.75%	0.49%
Net assets, as of Nov 3, 2026	$997m	$2.1m
Holdings
Measure	FTQI	TPAY
Holdings in common	0%

Method

What they share

By the books each fund has filed, FTQI and TPAY hold 0% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026 and Nov 4, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first FTQI TPAY

Only in one fund ↓

Only in FTQI

Apple Inc. 8.98%

NVIDIA Corporation 6.22%

Advanced Micro Devices, Inc. 4.73%

Amazon.com, Inc. 4.23%

Cisco Systems, Inc. 3.10%

Tesla, Inc. 3.05%

Meta Platforms, Inc. (Class A) 2.67%

Palantir Technologies Inc. (Class A) 2.60%

Only in TPAY

SPY 03/12/2027 33.67 C 44.68%

SPY 04/16/2027 33.18 C 44.62%

SPYM 03/12/2027 3.33 C 6.11%

Check overlap with more funds →

Side by side

FTQI First Trust Nasdaq BuyWrite Income ETF · Covered call on QQQ, paying monthly TPAY Roundhill S&P 500 Target 10 Managed Distribution ETF · Option income on VOO, paying monthly

Issuer First Trust Roundhill

Strategy covered call option income

Benchmark Nasdaq-100 (QQQ) Vanguard S&P 500 ETF (VOO)

Pays monthly monthly

Payout rate, annualized 12.3% 9.5%

Expense ratio 0.75% 0.49%

Cash paid, 1 year 12.1% 6.6% (since launch, Feb 18, 2026)

Price change, 1 year +3.5% +4.6% (since launch, Feb 18, 2026)

Total return, 1 year +16.5% +11.6% (since launch, Feb 18, 2026)

Benchmark return, 1 year +12.3% +12.6% (since launch, Feb 18, 2026)

Ahead or behind +4.2 pts −1.0 pts (since launch, Feb 18, 2026)

Return of capital, latest estimate 99% 100%

Age 12.8 years 259 days

Net assets, FTQI as of Nov 3, 2026 and TPAY as of Nov 4, 2026 $997m $2.1m

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 TPAY: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	FTQI	TPAY	FTQI	TPAY	FTQI	TPAY
3 months	+0.4%	−0.8%	3.0%	2.3%	+3.8 pts	−0.7 pts
6 months	+6.6%	+4.2%	6.0%	4.7%	+6.9 pts	−0.8 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 · TPAY Feb 2026	+138.8%	+11.6%	81.1%	6.6%	−641.3 pts	−1.1 pts

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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.

TPAY

Over the period from its first trade on Feb 18, 2026 to Nov 4, 2026, TPAY paid 6.6% of its starting value in cash distributions while its price rose 4.6%. With every distribution reinvested, the fund returned +11.6%. Vanguard S&P 500 ETF (VOO) returned +12.6% over the same days, so a holder was behind by 1.0 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 9.5%, paid monthly. Roundhill estimates that 100% of the distribution paid Oct 15, 2026 was a return of capital (its 19a-1 notice).

Questions people ask

Which is cheaper, FTQI or TPAY?: FTQI charges 0.75% a year and TPAY charges 0.49%, so TPAY is cheaper. Fees come from each fund's prospectus.

Other comparisons

FTQI vs SDTY FTQI vs XPAY FTQI vs TSPY FTQI vs LJUL TPAY vs GPIQ TPAY vs QYLD TPAY vs QQQI TPAY vs QLDY

Where to next

Nasdaq-100 (QQQ) →Vanguard S&P 500 ETF (VOO) →All income ETFs ranked by the Distribution Coverage Score →How the scores are computed →FTQI on its own →TPAY on its own →FTQI dividend history →FTQI holdings →TPAY dividend history →TPAY holdings →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 ↗

TPAY filings on SEC EDGAR ↗

TPAY prospectus with the expense ratio (SEC) ↗

TPAY 19a-1 distribution notice ↗

Roundhill page for TPAY ↗

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

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