Data as of Nov 4, 2026.
IQQQ vs OVL: Dividend Yield & Total Return
Over the year to Nov 4, 2026, OVL paid 9.9% of its price in cash against IQQQ’s 6.8%, and returned more with it reinvested.
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Net assets: $380m on Nov 4, 2026 for ProShares Nasdaq-100 High Income ETF, and $427m on Aug 31, 2026 for Overlay Shares Large Cap Equity ETF.
4.9 pts behind QQQ
IQQQ over 1 year: paid 6.8%, price +0.5%, total +7.4%, QQQ +12.3%, −4.9 pts. Data to Nov 4, 2026.
QQQ
+12.3%
IQQQ
+7.4%
6.8% of it arrived as cash
4.9 pts behind QQQ
Total return, distributions reinvested
4.9 pts behind QQQ
IQQQ over 1 year: paid 6.8%, price +0.5%, total +7.4%, QQQ +12.3%, −4.9 pts. Data to Nov 4, 2026.
QQQ
+12.3%
IQQQ
+7.4%
4.9 pts behind QQQ
6.8% of it arrived as cash. Total return, distributions reinvested. IQQQ over 1 year: paid 6.8%, price +0.5%, total +7.4%, QQQ +12.3%, −4.9 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.2.4 pts ahead of VOO
OVL over 1 year: paid 9.9%, price +6.6%, total +17.2%, VOO +14.8%, +2.4 pts. Data to Nov 4, 2026.
VOO
+14.8%
OVL
+17.2%
9.9% of it arrived as cash
2.4 pts ahead of VOO
Total return, distributions reinvested
2.4 pts ahead of VOO
OVL over 1 year: paid 9.9%, price +6.6%, total +17.2%, VOO +14.8%, +2.4 pts. Data to Nov 4, 2026.
VOO
+14.8%
OVL
+17.2%
9.9% cash
2.4 pts ahead of VOO
9.9% of it arrived as cash. Both charts share one scale, 0 to +17.2%. OVL over 1 year: paid 9.9%, price +6.6%, total +17.2%, VOO +14.8%, +2.4 pts. Data to Nov 4, 2026.
Both charts share one scale, 0 to +17.2%. Data to Nov 4, 2026.Pair scorecard
IQQQ costs 0.24 points a year less; their one-year returns differ by 9.8 points.
Points (pts) are percentage points.
| Measure | IQQQ | OVL |
|---|---|---|
| Paid and earned | ||
| Total return, 1 year | +7.4% | +17.2% |
| Price change, 1 year | rose 0.5% | rose 6.6% |
| Return of capital, issuer estimate | 93% of the Nov 6, 2026 payment | 100% of the Oct 29, 2026 payment |
| Against its benchmark | ||
| Benchmark | Nasdaq-100, measured through QQQ | Vanguard S&P 500 ETF, measured through VOO |
| Cost and size | ||
| Expense ratio | 0.55% | 0.79% |
| Net assets, IQQQ as of Nov 4, 2026 and OVL as of Aug 31, 2026 | $380m | $427m |
| Holdings | ||
| Holdings in common | 0% | |
How much of its payouts the fund's total return covered, ranked against 167 income ETFs not writing on a single company. 100 is best. How it is computed
One year only, and a ratio of two published numbers: it says nothing about where a distribution came from. All income ETFs ranked by it →
Risk and return
Mar 28, 2024 to Oct 30, 2026 · 135 weekly returnsEach against its own benchmark: IQQQ against QQQ, Mar 28, 2024 to Oct 30, 2026; OVL against VOO, Oct 11, 2019 to Oct 30, 2026.
From Mar 2024 to Oct 2026, OVL returned more: +50.7% to +42.9%. OVL swung slightly less: 16.5% to 18.0%. IQQQ and OVL fell about the same at their worst: −19.4% and −19.1%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | IQQQ | OVL | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +42.9% | +50.7% | OVL | Price change plus distributions, reinvested. |
| Annualized | +14.8% | +17.1% | OVL | Total return as a yearly rate. |
| Price return | +12.0% | +29.5% | OVL | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 18.0% | 16.5% | OVL (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 12.5% | 10.9% | OVL | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −19.4% | −19.1% | Tie | Deepest fall from a high to the low after it. |
| Upside capture | 84.6% | 121.3% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 96.9% | 108.9% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 0.88 | 1.13 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.96 | 0.99 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.62 | 0.78 | OVL | Return above Treasury bills per unit of volatility. |
| Sortino | 0.89 | 1.18 | OVL | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.127 | 0.130 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.76 | 0.89 | OVL | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | QQQ | VOO | The ETF each fund is measured against. | |
| Alpha | −2.3% a year | −0.6% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −1.03 | −0.66 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −6.7% to +2.1% | −2.4% to +1.2% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | −0.96 | 0.34 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 4.3% | 3.4% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 135 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, IQQQ and OVL hold 0% of their money in the same securities at the same weight. Holdings dated Aug 31, 2026.
half
0% 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 | IQQQ | OVL | IQQQ | OVL | IQQQ | OVL |
| 3 months | −4.4% | −0.5% | 1.5% | 2.6% | −0.9 pts | −0.4 pts |
| 6 months | −2.6% | +4.4% | 3.4% | 5.2% | −2.3 pts | −0.6 pts |
| 1 year | +7.4% | +17.2% | 6.8% | 9.9% | −4.9 pts | +2.4 pts |
| 3 years | – | +92.6% | – | 23.9% | – | +9.3 pts |
| Since launchNot the same days: IQQQ Mar 2024 · OVL Oct 2019 | +44.2% | +204.4% | 25.6% | 51.2% | −13.8 pts | +14.4 pts |
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IQQQ
Over the year to Nov 4, 2026, IQQQ paid 6.8% of its starting value in cash distributions while its price rose 0.5%. With every distribution reinvested, the fund returned +7.4%. Nasdaq-100 (QQQ) returned +12.3% over the same days, so a holder was behind by 4.9 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 6.1%, paid monthly. ProShares estimates that 93% of the distribution paid Nov 6, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.
OVL
Over the year to Nov 4, 2026, OVL paid 9.9% of its starting value in cash distributions while its price rose 6.6%. With every distribution reinvested, the fund returned +17.2%. Vanguard S&P 500 ETF (VOO) returned +14.8% over the same days, so a holder was ahead by 2.4 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 10.6%, paid monthly. Overlay Shares estimates that 100% of the distribution paid Oct 29, 2026 was a return of capital (its 19a-1 notice).
Questions people ask
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
It is a place in a set, not a rating or a recommendation.
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, IQQQ against OVL, data as of Nov 4, 2026. https://etfiq.com/compare/income/iqqq-vs-ovl
ETFIQ. (Nov 4, 2026). IQQQ against OVL. Retrieved from https://etfiq.com/compare/income/iqqq-vs-ovl
[IQQQ against OVL (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/income/iqqq-vs-ovl)
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