Which paid more, MSFO or QDTE?

Over the year to Oct 28, 2026, MSFO paid 26.1% of its starting price in cash and QDTE paid 34.2%, so QDTE paid more. Cash paid is not the same as money made: the price change matters too.

Which returned more once distributions are counted, MSFO or QDTE?

With every distribution reinvested, MSFO returned +0.2% and QDTE +16.5% over the year to Oct 28, 2026.

Which is cheaper, MSFO or QDTE?

MSFO charges 1.03% a year and QDTE charges 0.96%, so QDTE is cheaper. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Income ETFs

MSFO vs QDTE: Dividend Yield & Total Return

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Over the year to Oct 28, 2026, QDTE paid 34.2% of its price in cash against MSFO’s 26.1%, and returned more with it reinvested.

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Net assets: $100m on Oct 27, 2026 for YieldMax MSFT Option Income Strategy ETF, and $919m on Oct 28, 2026 for Roundhill Nasdaq-100 0DTE Covered Call Strategy ETF.

MSFO on its own →QDTE on its own →

At a glance

26.1%

MSFO cash paid, 1 year

34.2%

QDTE cash paid, 1 year

+0.2%

MSFO total return, 1 year

+16.5%

QDTE total return, 1 year

MSFO · 1 year to Oct 28, 2026 1.4 pts ahead of MSFT

MSFO

+0.2%

MSFT

−1.2%

1.4 pts ahead of MSFT

MSFO over 1 year: paid 26.1%, price −30.2%, total +0.2%, MSFT −1.2%, +1.4 pts. Data to Oct 28, 2026.

MSFT

−1.2%

MSFO

+0.2%

1.4 pts ahead of MSFT

Total return, distributions reinvested

1.4 pts ahead of MSFT

MSFO over 1 year: paid 26.1%, price −30.2%, total +0.2%, MSFT −1.2%, +1.4 pts. Data to Oct 28, 2026.

MSFT

−1.2%

MSFO

+0.2%

1.4 pts ahead of MSFT

26.1% of it arrived as cash. Total return, distributions reinvested. MSFO over 1 year: paid 26.1%, price −30.2%, total +0.2%, MSFT −1.2%, +1.4 pts. Data to Oct 28, 2026.

Data to Oct 28, 2026.

QDTE · 1 year to Oct 28, 2026 1.3 pts ahead of QQQ

QDTE

+16.5%

QQQ

+15.2%

1.3 pts ahead of QQQ

QDTE over 1 year: paid 34.2%, price −21.6%, total +16.5%, QQQ +15.2%, +1.3 pts. Data to Oct 28, 2026.

QQQ

+15.2%

QDTE

+16.5%

34.2% of it arrived as cash

1.3 pts ahead of QQQ

Total return, distributions reinvested

1.3 pts ahead of QQQ

QDTE over 1 year: paid 34.2%, price −21.6%, total +16.5%, QQQ +15.2%, +1.3 pts. Data to Oct 28, 2026.

QQQ

+15.2%

QDTE

+16.5%

34.2% as cash

1.3 pts ahead of QQQ

34.2% of it arrived as cash. Both charts share one scale, with zero at the line. QDTE over 1 year: paid 34.2%, price −21.6%, total +16.5%, QQQ +15.2%, +1.3 pts. Data to Oct 28, 2026.

Data to Oct 28, 2026.

Pair scorecard

QDTE costs 0.07 points a year less; their one-year returns differ by 16.3 points; QDTE is 9.2 times larger.

Points (pts) are percentage points.

MSFO vs QDTE: Dividend Yield & Total Return
Measure	MSFO	QDTE
Paid and earned
Measure	MSFO	QDTE
Total return, 1 year	+0.2%	+16.5%
Price change, 1 year	fell 30.2%	fell 21.6%
Return of capital, issuer estimate	89% of the Oct 30, 2026 payment	100% of the Oct 23, 2026 payment
Against its benchmark
Measure	MSFO	QDTE
Benchmark	Microsoft (MSFT)	Nasdaq-100, measured through QQQ
Cost and size
Measure	MSFO	QDTE
Expense ratio	1.03%	0.96%
Net assets, as of Oct 27, 2026	$100m	$916m
Holdings
Measure	MSFO	QDTE
Holdings in common	0%

ETFIQ Distribution Coverage Score · MSFO scores higher How much of what it paid out did its total return cover?

MSFO among the 74 income ETFs writing on a single company

IQ Income Score61.5MSFO35.1QDTE

How much of its payouts the fund's total return covered, ranked against 74 income ETFs writing on a single company and 164 income ETFs not writing on a single company. 100 is best. How it is computed

MSFO 61.5

0.7, the lowest in this set 99.3, the highest

QDTE among the 164 income ETFs not writing on a single company

QDTE 35.1

0.3, the lowest in this set 99.7, the highest

A percentile among the 74 income ETFs writing on a single company. QDTE is a percentile among the 164 income ETFs not writing on a single company, a different set, so the two marks are not on one scale. 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 →

Holdings in common uses holdings dated Oct 28, 2026. Method

What they share

By the books each fund has filed, MSFO and QDTE hold 0% of their money in the same securities at the same weight. Holdings dated Oct 28, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first MSFO QDTE

Only in one fund ↓

Only in MSFO

United States Treasury Note/Bond 2.375% 05/15/2027 25.91%

United States Treasury Note/Bond 3.375% 09/15/2027 13.60%

MSFT 11/20/2026 480.01 C 11.13%

MSFT US 10/30/26 C535 1.14%

MSFT US 10/30/26 C530 0.73%

MSFT US 10/30/26 C532.5 0.70%

MSFT 11/20/2026 480.01 P -0.54%

MSFT US 10/30/26 C522.5 -1.01%

Only in QDTE

QQQ 11/19/2027 70.11 C 73.81%

QQQ 09/17/2027 70.69 C 17.75%

Check overlap with more funds →

Side by side

MSFO YieldMax MSFT Option Income Strategy ETF · Synthetic covered call on MSFT, paying weekly QDTE Roundhill Nasdaq-100 0DTE Covered Call Strategy ETF · 0DTE covered call on QQQ, paying weekly

Issuer YieldMax Roundhill

Strategy synthetic covered call 0DTE covered call

Benchmark Microsoft (MSFT) Nasdaq-100 (QQQ)

Pays weekly weekly

Payout rate, annualized 34.0% 20.7%

Expense ratio 1.03% 0.96%

Cash paid, 1 year 26.1% 34.2%

Price change, 1 year −30.2% −21.6%

Total return, 1 year +0.2% +16.5%

Benchmark return, 1 year −1.2% +15.2%

Ahead or behind +1.4 pts +1.3 pts

Return of capital, latest estimate 89% 100%

Age 3.2 years 2.6 years

Net assets, MSFO as of Oct 27, 2026 and QDTE as of Oct 28, 2026 $100m $919m

As of Oct 28, 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: MSFO vs QDTE: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	MSFO	QDTE	MSFO	QDTE	MSFO	QDTE
3 months	+31.5%	+9.5%	12.5%	6.6%	−4.8 pts	−0.3 pts
6 months	+20.2%	+10.2%	19.5%	14.9%	−5.4 pts	+0.3 pts
1 year	+0.2%	+16.5%	26.1%	34.2%	+1.5 pts	+1.3 pts
3 years	+57.1%	–	79.1%	–	−7.7 pts	–
Since launchNot the same days: MSFO Aug 2023 · QDTE Mar 2024	+64.8%	+61.4%	83.2%	75.3%	−3.4 pts	−3.8 pts

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Client brief · page 1 of 2 Report BR-D08683798D

MSFO and QDTE are built for the same job. How do they differ in cost, holdings and results?

Income paid. MSFO paid 26.1% and QDTE 34.2% (cash paid over 1 year, as a share of its price at the start), a gap of 8.1 points.
What each is measured against. MSFO is measured against Microsoft (MSFT) and QDTE against Nasdaq-100 through QQQ.
Holdings in common. 0% of the weight is in the same securities (holdings dated Oct 28, 2026).

Data as of Oct 28, 2026.

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About each fund

MSFO

Over the year to Oct 28, 2026, MSFO paid 26.1% of its starting value in cash distributions while its price fell 30.2%. With every distribution reinvested, the fund returned +0.2%. Microsoft (MSFT) returned −1.2% over the same days, so a holder was ahead by 1.4 pts. At its price on Oct 28, 2026 the latest distribution annualizes to 34.0%, paid weekly. YieldMax estimates that 89% 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.

QDTE

Over the year to Oct 28, 2026, QDTE paid 34.2% of its starting value in cash distributions while its price fell 21.6%. With every distribution reinvested, the fund returned +16.5%. Nasdaq-100 (QQQ) returned +15.2% over the same days, so a holder was ahead by 1.3 pts. At its price on Oct 28, 2026 the latest distribution annualizes to 20.7%, paid weekly. Roundhill estimates that 100% of the distribution paid Oct 23, 2026 was a return of capital (its 19a-1 notice).

Questions people ask

Which paid more, MSFO or QDTE?: Over the year to Oct 28, 2026, MSFO paid 26.1% of its starting price in cash and QDTE paid 34.2%, so QDTE paid more. Cash paid is not the same as money made: the price change matters too.
Which returned more once distributions are counted, MSFO or QDTE?: With every distribution reinvested, MSFO returned +0.2% and QDTE +16.5% over the year to Oct 28, 2026.
Which is cheaper, MSFO or QDTE?: MSFO charges 1.03% a year and QDTE charges 0.96%, so QDTE is cheaper. Fees come from each fund's prospectus.

Other comparisons

MSFO vs QYLD MSFO vs QQQI MSFO vs JEPQ MSFO vs GPIQ QDTE vs XSHP QDTE vs PCOV QDTE vs XVSP QDTE vs RECI

Where to next

Nasdaq-100 (QQQ) →MSFO on its own →QDTE on its own →MSFO dividend history →MSFO holdings →QDTE dividend history →QDTE holdings →Method →Standards and sources →

Sources and dates

MSFO filings on SEC EDGAR ↗

MSFO prospectus with the expense ratio (SEC) ↗

MSFO 19a-1 distribution notice ↗

YieldMax page for MSFO ↗

QDTE filings on SEC EDGAR ↗

QDTE prospectus with the expense ratio (SEC) ↗

QDTE 19a-1 distribution notice ↗

Roundhill page for QDTE ↗

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.

Cite this pageCitation, APA and Markdown

ETFIQ, MSFO against QDTE, data as of Oct 28, 2026. https://etfiq.com/compare/income/msfo-vs-qdte

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