Which paid more, OVL or QXQ?

Over the year to Nov 12, 2026, OVL paid 9.8% of its starting price in cash and QXQ paid 15.1%, so QXQ paid more. Cash paid is not the same as money made: the price change matters too.

Which returned more once distributions are counted, OVL or QXQ?

With every distribution reinvested, OVL returned +13.7% and QXQ +12.1% over the year to Nov 12, 2026.

Which is cheaper, OVL or QXQ?

OVL charges 0.79% a year and QXQ charges 0.98%, so OVL is cheaper. Fees come from each fund's prospectus.

Data as of Nov 12, 2026.

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OVL vs QXQ: Dividend Yield & Total Return

Return, fees and overlap, side by side.

Return gap

+1.6 pts

1 year to Nov 12, 2026: OVL ahead, total return

Fee gap

0.19 pts

A year: OVL 0.79%, QXQ 0.98%, per filings dated Dec 23, 2025 and Jan 5, 2026

Overlap

–

No book read for both funds

Net flow

–

Needs daily flows for both funds

Pair scorecard

OVL costs 0.19 points a year less; their one-year returns differ by 1.6 points; OVL is 5.2 times larger.

Points (pts) are percentage points.

OVL vs QXQ: Dividend Yield & Total Return
Measure	OVL	QXQ
Paid and earned
Measure	OVL	QXQ
Total return, 1 year	+13.7%	+12.1%
Price change, 1 year	rose 3.4%	fell 4.7%
Return of capital, issuer estimate	100% of the Oct 29, 2026 payment
Against its benchmark
Measure	OVL	QXQ
Benchmark	Vanguard S&P 500 ETF, measured through VOO	Nasdaq-100, measured through QQQ
Cost and size
Measure	OVL	QXQ
Expense ratio	0.79%	0.98%
Net assets, as of Aug 31, 2026	$427m	$82m
Holdings
Measure	OVL	QXQ
Holdings in common	not published

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

IQ Income Score80.4OVL52QXQ

How much of its payouts the fund's total return covered, ranked against 171 income ETFs not writing on a single company. 100 is best. How it is computed

OVL 80.4

QXQ 52

0.3, the lowest in this set 99.7, the highest

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 →

Method

Key numbers

9.8%

OVL cash paid, 1 year

15.1%

QXQ cash paid, 1 year

+13.7%

OVL total return, 1 year

+12.1%

QXQ total return, 1 year

OVL · 1 year to Nov 12, 2026 1.6 pts ahead of VOO

OVL

+13.7%

VOO

+12.1%

1.6 pts ahead of VOO

OVL over 1 year: paid 9.8%, price +3.4%, total +13.7%, VOO +12.1%, +1.6 pts. Data to Nov 12, 2026.

VOO

+12.1%

OVL

+13.7%

9.8% of it arrived as cash

1.6 pts ahead of VOO

Total return, distributions reinvested

1.6 pts ahead of VOO

OVL over 1 year: paid 9.8%, price +3.4%, total +13.7%, VOO +12.1%, +1.6 pts. Data to Nov 12, 2026.

VOO

+12.1%

OVL

+13.7%

9.8% as cash

1.6 pts ahead of VOO

9.8% of it arrived as cash. Total return, distributions reinvested. OVL over 1 year: paid 9.8%, price +3.4%, total +13.7%, VOO +12.1%, +1.6 pts. Data to Nov 12, 2026.

Data to Nov 12, 2026.

QXQ · 1 year to Nov 12, 2026 0.8 pts ahead of QQQ

QXQ

+12.1%

QQQ

+11.3%

0.8 pts ahead of QQQ

QXQ over 1 year: paid 15.1%, price −4.7%, total +12.1%, QQQ +11.3%, +0.8 pts. Data to Nov 12, 2026.

QQQ

+11.3%

QXQ

+12.1%

15.1% of it arrived as cash

0.8 pts ahead of QQQ

Total return, distributions reinvested

0.8 pts ahead of QQQ

QXQ over 1 year: paid 15.1%, price −4.7%, total +12.1%, QQQ +11.3%, +0.8 pts. Data to Nov 12, 2026.

QQQ

+11.3%

QXQ

+12.1%

15.1% as cash

0.8 pts ahead of QQQ

15.1% of it arrived as cash. Both charts share one scale, with zero at the line. QXQ over 1 year: paid 15.1%, price −4.7%, total +12.1%, QQQ +11.3%, +0.8 pts. Data to Nov 12, 2026.

Data to Nov 12, 2026.

Side by side

OVL Overlay Shares Large Cap Equity ETF · Put-selling overlay on VOO, paying monthly QXQ SGI Enhanced Nasdaq-100 ETF · Covered call on QQQ, paying quarterly

Issuer Overlay Shares SGI

Strategy put-selling overlay covered call

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

Pays monthly quarterly

Payout rate, annualized 10.7% 1.0%

Expense ratio 0.79% 0.98%

Cash paid, 1 year 9.8% 15.1%

Price change, 1 year +3.4% −4.7%

Total return, 1 year +13.7% +12.1%

Benchmark return, 1 year +12.1% +11.3%

Ahead or behind +1.6 pts +0.8 pts

Return of capital, latest estimate 100% not published

Age 7.1 years 2.4 years

Net assets, as of Aug 31, 2026 $427m $82m

As of Nov 12, 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: OVL vs QXQ: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	OVL	QXQ	OVL	QXQ	OVL	QXQ
3 months	−3.2%	−5.4%	2.5%	0.2%	−0.8 pts	+0.5 pts
6 months	+0.9%	−3.8%	5.1%	0.5%	−0.9 pts	+0.4 pts
1 year	+13.7%	+12.1%	9.8%	15.1%	+1.6 pts	+0.8 pts
3 years	+87.4%	–	23.6%	–	+8.6 pts	–
Since launchNot the same days: OVL Oct 2019 · QXQ Jun 2024	+199.8%	+47.7%	51.2%	22.8%	+13.4 pts	+2.2 pts

– means no data for this window. Open this comparison in the app →

Alert

About each fund

OVL

Over the year to Nov 12, 2026, OVL paid 9.8% of its starting value in cash distributions while its price rose 3.4%. With every distribution reinvested, the fund returned +13.7%. Vanguard S&P 500 ETF (VOO) returned +12.1% over the same days, so a holder was ahead by 1.6 pts. At its price on Nov 12, 2026 the latest distribution annualizes to 10.7%, paid monthly. Overlay Shares estimates that 100% of the distribution paid Oct 29, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.

QXQ

Over the year to Nov 12, 2026, QXQ paid 15.1% of its starting value in cash distributions while its price fell 4.7%. With every distribution reinvested, the fund returned +12.1%. Nasdaq-100 (QQQ) returned +11.3% over the same days, so a holder was ahead by 0.8 pts. At its price on Nov 12, 2026 the latest distribution annualizes to 1.0%, paid quarterly.

Questions people ask

Which paid more, OVL or QXQ?: Over the year to Nov 12, 2026, OVL paid 9.8% of its starting price in cash and QXQ paid 15.1%, so QXQ paid more. Cash paid is not the same as money made: the price change matters too.
Which returned more once distributions are counted, OVL or QXQ?: With every distribution reinvested, OVL returned +13.7% and QXQ +12.1% over the year to Nov 12, 2026.
Which is cheaper, OVL or QXQ?: OVL charges 0.79% a year and QXQ charges 0.98%, so OVL is cheaper. Fees come from each fund's prospectus.

Other comparisons

OVL vs QRMI OVL vs QLDY OVL vs BALQ OVL vs QQQY QXQ vs TSPY QXQ vs XPAY QXQ vs OVLH QXQ vs XIJN

Where to next

Vanguard S&P 500 ETF (VOO) →Nasdaq-100 (QQQ) →OVL on its own →QXQ on its own →OVL dividend history →OVL holdings →QXQ dividend history →Method →Standards and sources →

Sources and dates

OVL filings on SEC EDGAR ↗

OVL prospectus with the expense ratio (SEC) ↗

OVL 19a-1 distribution notice ↗

Overlay Shares website ↗

QXQ filings on SEC EDGAR ↗

QXQ prospectus with the expense ratio (SEC) ↗

SGI website ↗

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.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, OVL against QXQ, data as of Nov 12, 2026. https://etfiq.com/compare/income/ovl-vs-qxq

Open data →

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

Net assets on Aug 31, 2026: $427m for Overlay Shares Large Cap Equity ETF and $82m for SGI Enhanced Nasdaq-100 ETF.

OVL on its own →QXQ on its own →

Growth of 100

OVL and QXQ

Total return, distributions reinvested, 1 year.

OVL +13.7%QXQ +12.1%

Nov 12, 2025Nov 12, 2026

OVL +13.7%, QXQ +12.1%: OVL +1.6 pts ahead, 1 year, Nov 12, 2025 to Nov 12, 2026.