Which is cheaper, PCOV or QLDY?

PCOV charges 0.34% a year and QLDY charges 1.04%, so PCOV is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

PCOV vs QLDY: Dividend Yield & Total Return

PCOV and QLDY both write options for income.

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Net assets: $10m on Nov 2, 2026 for Principal Equity Premium Income ETF, and $53m on Nov 3, 2026 for Defiance Nasdaq 100 LightningSpread Income ETF.

PCOV on its own →QLDY on its own →

At a glance

1.9%

PCOV cash paid, since launch, Aug 19, 2026

35.3%

QLDY cash paid, 1 year

−0.1%

PCOV total return, since launch, Aug 19, 2026

+9.1%

QLDY total return, 1 year

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. Total return, distributions reinvested. 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.

QLDY · 1 year to Nov 4, 2026 3.2 pts behind QQQ

QLDY

+9.1%

QQQ

+12.3%

3.2 pts behind QQQ

QLDY over 1 year: paid 35.3%, price −27.2%, total +9.1%, QQQ +12.3%, −3.2 pts. Data to Nov 4, 2026.

QQQ

+12.3%

QLDY

+9.1%

35.3% of it arrived as cash

3.2 pts behind QQQ

Total return, distributions reinvested

3.2 pts behind QQQ

QLDY over 1 year: paid 35.3%, price −27.2%, total +9.1%, QQQ +12.3%, −3.2 pts. Data to Nov 4, 2026.

QQQ

+12.3%

QLDY

+9.1%

35.3% as cash

3.2 pts behind QQQ

35.3% of it arrived as cash. Both charts share one scale, with zero at the line. QLDY over 1 year: paid 35.3%, price −27.2%, total +9.1%, QQQ +12.3%, −3.2 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

PCOV costs 0.70 points a year less; QLDY is 5.3 times larger.

Points (pts) are percentage points.

PCOV vs QLDY: Dividend Yield & Total Return
Measure	PCOV	QLDY
Paid and earned
Measure	PCOV	QLDY
Total return, 1 year	not published	+9.1%
Price change	fell 2.0% (since Aug 19, 2026)	fell 27.2% (1 year)
Against its benchmark
Measure	PCOV	QLDY
Benchmark	not published	Nasdaq-100, measured through QQQ
Cost and size
Measure	PCOV	QLDY
Expense ratio	0.34%	1.04%
Net assets, as of Nov 3, 2026	$10m	$53m
Holdings
Measure	PCOV	QLDY
Holdings in common	not published

Method

Side by side

PCOV Principal Equity Premium Income ETF · Covered call QLDY Defiance Nasdaq 100 LightningSpread Income ETF · Option income on QQQ, paying weekly

Issuer Principal Defiance

Strategy covered call option income

Benchmark none Nasdaq-100 (QQQ)

Pays not established weekly

Payout rate, annualized 7.2% 19.7%

Expense ratio 0.34% 1.04%

Cash paid, 1 year 1.9% (since launch, Aug 19, 2026) 35.3%

Price change, 1 year −2.0% (since launch, Aug 19, 2026) −27.2%

Total return, 1 year −0.1% (since launch, Aug 19, 2026) +9.1%

Benchmark return, 1 year not published +12.3%

Ahead or behind not available −3.2 pts

Return of capital, latest estimate not published 0%

Age 77 days 1.1 years

Net assets, PCOV as of Nov 2, 2026 and QLDY as of Nov 3, 2026 $10m $53m

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: PCOV vs QLDY: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	PCOV	QLDY	PCOV	QLDY	PCOV	QLDY
3 months	–	−4.5%	–	9.5%	–	−1.1 pts
6 months	–	−3.1%	–	18.5%	–	−2.8 pts
1 year	–	+9.1%	–	35.3%	–	−3.2 pts
Since launchNot the same days: PCOV Aug 2026 · QLDY Sep 2025	−0.1%	+13.2%	1.9%	39.1%	not measured	−3.7 pts

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Alert

About each fund

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.

QLDY

Over the year to Nov 4, 2026, QLDY paid 35.3% of its starting value in cash distributions while its price fell 27.2%. With every distribution reinvested, the fund returned +9.1%. Nasdaq-100 (QQQ) returned +12.3% over the same days, so a holder was behind by 3.2 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 19.7%, paid weekly. Defiance estimates that 0% of the distribution paid Nov 2, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.

Questions people ask

Which is cheaper, PCOV or QLDY?: PCOV charges 0.34% a year and QLDY charges 1.04%, so PCOV is cheaper. Fees come from each fund's prospectus.

Other comparisons

PCOV vs QDTY PCOV vs QQQY PCOV vs QYLG PCOV vs QRMI QLDY vs TMGN QLDY vs VOOY QLDY vs XSHP QLDY vs YQQQ

Where to next

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

Sources and dates

PCOV filings on SEC EDGAR ↗

PCOV prospectus with the expense ratio (SEC) ↗

Principal website ↗

QLDY filings on SEC EDGAR ↗

QLDY prospectus with the expense ratio (SEC) ↗

QLDY 19a-1 distribution notice ↗

Defiance page for QLDY ↗

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

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