Which is cheaper, PCOV or SPIN?

PCOV charges 0.34% a year and SPIN charges 0.25%, so SPIN is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

PCOV vs SPIN: Dividend Yield & Total Return

PCOV and SPIN both write options for income.

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Net assets: $10m on Nov 2, 2026 for Principal Equity Premium Income ETF, and $45m on Nov 3, 2026 for State Street US Equity Premium Income ETF.

PCOV on its own →SPIN on its own →

At a glance

1.9%

PCOV cash paid, since launch, Aug 19, 2026

5.1%

SPIN cash paid, 1 year

−0.1%

PCOV total return, since launch, Aug 19, 2026

+9.3%

SPIN 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.

SPIN · 1 year to Nov 4, 2026 5.5 pts behind SPY

SPIN

+9.3%

SPY

+14.8%

5.5 pts behind SPY

SPIN over 1 year: paid 5.1%, price +3.9%, total +9.3%, SPY +14.8%, −5.5 pts. Data to Nov 4, 2026.

SPY

+14.8%

SPIN

+9.3%

5.1% of it arrived as cash

5.5 pts behind SPY

Total return, distributions reinvested

5.5 pts behind SPY

SPIN over 1 year: paid 5.1%, price +3.9%, total +9.3%, SPY +14.8%, −5.5 pts. Data to Nov 4, 2026.

SPY

+14.8%

SPIN

+9.3%

5.5 pts behind SPY

5.1% of it arrived as cash. Both charts share one scale, with zero at the line. SPIN over 1 year: paid 5.1%, price +3.9%, total +9.3%, SPY +14.8%, −5.5 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

SPIN costs 0.09 points a year less; SPIN is 4.5 times larger.

Points (pts) are percentage points.

PCOV vs SPIN: Dividend Yield & Total Return
Measure	PCOV	SPIN
Paid and earned
Measure	PCOV	SPIN
Total return, 1 year	not published	+9.3%
Price change	fell 2.0% (since Aug 19, 2026)	rose 3.9% (1 year)
Return of capital, issuer estimate		97% of the Nov 5, 2026 payment
Against its benchmark
Measure	PCOV	SPIN
Benchmark	not published	S&P 500, measured through SPY
Cost and size
Measure	PCOV	SPIN
Expense ratio	0.34%	0.25%
Net assets, as of Nov 3, 2026	$10m	$45m
Holdings
Measure	PCOV	SPIN
Holdings in common	not published

Method

Side by side

PCOV Principal Equity Premium Income ETF · Covered call SPIN State Street US Equity Premium Income ETF · Covered call on SPY, paying monthly

Issuer Principal State Street

Strategy covered call covered call

Benchmark none S&P 500 (SPY)

Pays not established monthly

Payout rate, annualized 7.2% 5.5%

Expense ratio 0.34% 0.25%

Cash paid, 1 year 1.9% (since launch, Aug 19, 2026) 5.1%

Price change, 1 year −2.0% (since launch, Aug 19, 2026) +3.9%

Total return, 1 year −0.1% (since launch, Aug 19, 2026) +9.3%

Benchmark return, 1 year not published +14.8%

Ahead or behind not available −5.5 pts

Return of capital, latest estimate not published 97%

Age 77 days 2.2 years

Net assets, PCOV as of Nov 2, 2026 and SPIN as of Nov 3, 2026 $10m $45m

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 SPIN: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	PCOV	SPIN	PCOV	SPIN	PCOV	SPIN
3 months	–	+0.8%	–	0.9%	–	+0.9 pts
6 months	–	+6.0%	–	1.9%	–	+1.0 pts
1 year	–	+9.3%	–	5.1%	–	−5.5 pts
Since launchNot the same days: PCOV Aug 2026 · SPIN Sep 2024	−0.1%	+30.3%	1.9%	16.0%	not measured	−12.9 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.

SPIN

Over the year to Nov 4, 2026, SPIN paid 5.1% of its starting value in cash distributions while its price rose 3.9%. With every distribution reinvested, the fund returned +9.3%. S&P 500 (SPY) returned +14.8% over the same days, so a holder was behind by 5.5 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 5.5%, paid monthly. State Street estimates that 97% of the distribution paid Nov 5, 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 SPIN?: PCOV charges 0.34% a year and SPIN charges 0.25%, so SPIN is cheaper. Fees come from each fund's prospectus.

Other comparisons

PCOV vs SEPI PCOV vs TPRY PCOV vs DIVO PCOV vs SPYI SPIN vs CDPI SPIN vs QQDH SPIN vs RECI SPIN vs TMGN

Where to next

S&P 500 (SPY) →All income ETFs ranked by the Distribution Coverage Score →How the scores are computed →PCOV on its own →SPIN on its own →PCOV dividend history →SPIN dividend history →SPIN holdings →Method →Standards and sources →

Sources and dates

PCOV filings on SEC EDGAR ↗

PCOV prospectus with the expense ratio (SEC) ↗

Principal website ↗

SPIN filings on SEC EDGAR ↗

SPIN prospectus with the expense ratio (SEC) ↗

SPIN 19a-1 distribution notice ↗

State Street website ↗

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 SPIN, data as of Nov 4, 2026. https://etfiq.com/compare/income/pcov-vs-spin

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