Data as of Nov 4, 2026.
PCOV vs WDTE: Dividend Yield & Total Return
PCOV and WDTE both write options for income.
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Net assets: $10m on Nov 2, 2026 for Principal Equity Premium Income ETF, and $69m on Nov 3, 2026 for Defiance S&P 500 Weekly 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, 2026.0.7 pts behind SPY
WDTE over 1 year: paid 27.9%, price −15.9%, total +14.1%, SPY +14.8%, −0.7 pts. Data to Nov 4, 2026.
SPY
+14.8%
WDTE
+14.1%
27.9% of it arrived as cash
0.7 pts behind SPY
Total return, distributions reinvested
0.7 pts behind SPY
WDTE over 1 year: paid 27.9%, price −15.9%, total +14.1%, SPY +14.8%, −0.7 pts. Data to Nov 4, 2026.
SPY
+14.8%
WDTE
+14.1%
27.9% as cash
0.7 pts behind SPY
27.9% of it arrived as cash. Both charts share one scale, with zero at the line. WDTE over 1 year: paid 27.9%, price −15.9%, total +14.1%, SPY +14.8%, −0.7 pts. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
PCOV costs 0.69 points a year less; WDTE is 6.9 times larger.
Points (pts) are percentage points.
| Measure | PCOV | WDTE |
|---|---|---|
| Paid and earned | ||
| Total return, 1 year | not published | +14.1% |
| Price change | fell 2.0% (since Aug 19, 2026) | fell 15.9% (1 year) |
| Return of capital, issuer estimate | 100% of the Oct 30, 2026 payment | |
| Against its benchmark | ||
| Benchmark | not published | S&P 500, measured through SPY |
| Cost and size | ||
| Expense ratio | 0.34% | 1.03% |
| Net assets, as of Nov 3, 2026 | $10m | $69m |
| 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 | WDTE | PCOV | WDTE | PCOV | WDTE |
| 3 months | – | −0.4% | – | 7.3% | – | −0.2 pts |
| 6 months | – | +4.6% | – | 14.4% | – | −0.4 pts |
| 1 year | – | +14.1% | – | 27.9% | – | −0.7 pts |
| 3 years | – | +50.8% | – | 78.5% | – | −32.1 pts |
| Since launchNot the same days: PCOV Aug 2026 · WDTE Sep 2023 | −0.1% | +49.2% | 1.9% | 79.5% | not measured | −30.4 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.
WDTE
Over the year to Nov 4, 2026, WDTE paid 27.9% of its starting value in cash distributions while its price fell 15.9%. With every distribution reinvested, the fund returned +14.1%. S&P 500 (SPY) returned +14.8% over the same days, so a holder was behind by 0.7 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 30.3%, paid weekly. Defiance estimates that 100% of the distribution paid Oct 30, 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 WDTE, data as of Nov 4, 2026. https://etfiq.com/compare/income/pcov-vs-wdte
ETFIQ. (Nov 4, 2026). PCOV against WDTE. Retrieved from https://etfiq.com/compare/income/pcov-vs-wdte
[PCOV against WDTE (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/income/pcov-vs-wdte)
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