Data as of Nov 4, 2026.
PCOV vs TPAY: Dividend Yield & Total Return
PCOV and TPAY both write options for income.
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Net assets: $10m on Nov 2, 2026 for Principal Equity Premium Income ETF, and $2.1m on Nov 4, 2026 for Roundhill S&P 500 Target 10 Managed Distribution 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, 2026.1 pt behind VOO
TPAY since launch: paid 6.6%, price +4.6%, total +11.6%, VOO +12.6%, −1.0 pts. Data to Nov 4, 2026.
VOO
+12.6%
TPAY
+11.6%
6.6% of it arrived as cash
1 pt behind VOO
Total return, distributions reinvested
1 pt behind VOO
TPAY since launch: paid 6.6%, price +4.6%, total +11.6%, VOO +12.6%, −1.0 pts. Data to Nov 4, 2026.
VOO
+12.6%
TPAY
+11.6%
6.6% cash
1 pt behind VOO
6.6% of it arrived as cash. Both charts share one scale, with zero at the line. TPAY since launch: paid 6.6%, price +4.6%, total +11.6%, VOO +12.6%, −1.0 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
PCOV costs 0.15 points a year less; PCOV is 4.8 times larger.
Points (pts) are percentage points.
| Measure | PCOV | TPAY |
|---|---|---|
| Paid and earned | ||
| Price change | fell 2.0% (since Aug 19, 2026) | rose 4.6% (since Feb 18, 2026) |
| Return of capital, issuer estimate | 100% of the Oct 15, 2026 payment | |
| Against its benchmark | ||
| Benchmark | not published | Vanguard S&P 500 ETF, measured through VOO |
| Against its benchmark, same days | behind by 1.0 pts | |
| Cost and size | ||
| Expense ratio | 0.34% | 0.49% |
| Net assets, as of Nov 3, 2026 | $10m | $2.1m |
| 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 | TPAY | PCOV | TPAY | PCOV | TPAY |
| 3 months | – | −0.8% | – | 2.3% | – | −0.7 pts |
| 6 months | – | +4.2% | – | 4.7% | – | −0.8 pts |
| Since launchNot the same days: PCOV Aug 2026 · TPAY Feb 2026 | −0.1% | +11.6% | 1.9% | 6.6% | not measured | −1.1 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.
TPAY
Over the period from its first trade on Feb 18, 2026 to Nov 4, 2026, TPAY paid 6.6% of its starting value in cash distributions while its price rose 4.6%. With every distribution reinvested, the fund returned +11.6%. Vanguard S&P 500 ETF (VOO) returned +12.6% over the same days, so a holder was behind by 1.0 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 9.5%, paid monthly. Roundhill estimates that 100% of the distribution paid Oct 15, 2026 was a return of capital (its 19a-1 notice). That is a tax label, not a measure of erosion.
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How this is computed
Every number is an ETFIQ calculation with distributions reinvested.
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ETFIQ, PCOV against TPAY, data as of Nov 4, 2026. https://etfiq.com/compare/income/pcov-vs-tpay
ETFIQ. (Nov 4, 2026). PCOV against TPAY. Retrieved from https://etfiq.com/compare/income/pcov-vs-tpay
[PCOV against TPAY (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/income/pcov-vs-tpay)
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