Data as of Nov 4, 2026.
PCOV vs SPUT: Dividend Yield & Total Return
PCOV and SPUT both write options for income.
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Net assets: $10m on Nov 2, 2026 for Principal Equity Premium Income ETF, and $17m on Nov 4, 2026 for Innovator Equity Premium Income - Daily PutWrite ETF.
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, 2026.4.1 pts behind SPY
SPUT over 1 year: paid 4.8%, price +5.7%, total +10.7%, SPY +14.8%, −4.1 pts. Data to Nov 4, 2026.
SPY
+14.8%
SPUT
+10.7%
4.8% of it arrived as cash
4.1 pts behind SPY
Total return, distributions reinvested
4.1 pts behind SPY
SPUT over 1 year: paid 4.8%, price +5.7%, total +10.7%, SPY +14.8%, −4.1 pts. Data to Nov 4, 2026.
SPY
+14.8%
SPUT
+10.7%
4.1 pts behind SPY
4.8% of it arrived as cash. Both charts share one scale, with zero at the line. SPUT over 1 year: paid 4.8%, price +5.7%, total +10.7%, SPY +14.8%, −4.1 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
PCOV costs 0.45 points a year less; SPUT is 1.7 times larger.
Points (pts) are percentage points.
| Measure | PCOV | SPUT |
|---|---|---|
| Paid and earned | ||
| Total return, 1 year | not published | +10.7% |
| Price change | fell 2.0% (since Aug 19, 2026) | rose 5.7% (1 year) |
| Against its benchmark | ||
| Benchmark | not published | S&P 500, measured through SPY |
| Cost and size | ||
| Expense ratio | 0.34% | 0.79% |
| Net assets, as of Nov 3, 2026 | $10m | $17m |
| Holdings | ||
| Holdings in common | not published | |
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 | PCOV | SPUT | PCOV | SPUT | PCOV | SPUT |
| 3 months | – | +0.9% | – | 1.0% | – | +1.0 pts |
| 6 months | – | +3.4% | – | 1.9% | – | −1.6 pts |
| 1 year | – | +10.7% | – | 4.8% | – | −4.0 pts |
| Since launchNot the same days: PCOV Aug 2026 · SPUT Mar 2025 | −0.1% | +23.3% | 1.9% | 9.1% | not measured | −15.6 pts |
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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.
SPUT
Over the year to Nov 4, 2026, SPUT paid 4.8% of its starting value in cash distributions while its price rose 5.7%. With every distribution reinvested, the fund returned +10.7%. S&P 500 (SPY) returned +14.8% over the same days, so a holder was behind by 4.1 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 3.6%, paid monthly. Innovator estimates that 58% 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
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How this is computed
Every number is an ETFIQ calculation with distributions reinvested.
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ETFIQ, PCOV against SPUT, data as of Nov 4, 2026. https://etfiq.com/compare/income/pcov-vs-sput
ETFIQ. (Nov 4, 2026). PCOV against SPUT. Retrieved from https://etfiq.com/compare/income/pcov-vs-sput
[PCOV against SPUT (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/income/pcov-vs-sput)
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