Which is cheaper, PCOV or XRMI?

PCOV charges 0.34% a year and XRMI charges 0.60%, so PCOV is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Income ETFs

PCOV vs XRMI: Dividend Yield & Total Return

PCOV and XRMI both write options for income.

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Net assets: $10m on Nov 2, 2026 for Principal Equity Premium Income ETF, and $62m on Oct 12, 2026 for Global X S&P 500 Risk Managed Income ETF.

PCOV on its own →XRMI on its own →

At a glance

1.9%

PCOV cash paid, since launch, Aug 19, 2026

11.9%

XRMI cash paid, 1 year

−0.1%

PCOV total return, since launch, Aug 19, 2026

+8.7%

XRMI 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.

XRMI · 1 year to Nov 4, 2026 6.1 pts behind SPY

XRMI

+8.7%

SPY

+14.8%

6.1 pts behind SPY

XRMI over 1 year: paid 11.9%, price −3.8%, total +8.7%, SPY +14.8%, −6.1 pts. Data to Nov 4, 2026.

SPY

+14.8%

XRMI

+8.7%

11.9% of it arrived as cash

6.1 pts behind SPY

Total return, distributions reinvested

6.1 pts behind SPY

XRMI over 1 year: paid 11.9%, price −3.8%, total +8.7%, SPY +14.8%, −6.1 pts. Data to Nov 4, 2026.

SPY

+14.8%

XRMI

+8.7%

11.9% cash

6.1 pts behind SPY

11.9% of it arrived as cash. Both charts share one scale, with zero at the line. XRMI over 1 year: paid 11.9%, price −3.8%, total +8.7%, SPY +14.8%, −6.1 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

PCOV costs 0.26 points a year less; XRMI is 6.2 times larger.

Points (pts) are percentage points.

PCOV vs XRMI: Dividend Yield & Total Return
Measure	PCOV	XRMI
Paid and earned
Measure	PCOV	XRMI
Total return, 1 year	not published	+8.7%
Price change	fell 2.0% (since Aug 19, 2026)	fell 3.8% (1 year)
Return of capital, issuer estimate		95% of the Sep 24, 2026 payment
Against its benchmark
Measure	PCOV	XRMI
Benchmark	not published	S&P 500, measured through SPY
Cost and size
Measure	PCOV	XRMI
Expense ratio	0.34%	0.60%
Net assets, as of Oct 12, 2026	$10m	$62m
Holdings
Measure	PCOV	XRMI
Holdings in common	not published

Method

Side by side

PCOV Principal Equity Premium Income ETF · Covered call XRMI Global X S&P 500 Risk Managed Income ETF · Option income on SPY, paying monthly

Issuer Principal Global X

Strategy covered call option income

Benchmark none S&P 500 (SPY)

Pays not established monthly

Payout rate, annualized 7.2% 10.6%

Expense ratio 0.34% 0.60%

Cash paid, 1 year 1.9% (since launch, Aug 19, 2026) 11.9%

Price change, 1 year −2.0% (since launch, Aug 19, 2026) −3.8%

Total return, 1 year −0.1% (since launch, Aug 19, 2026) +8.7%

Benchmark return, 1 year not published +14.8%

Ahead or behind not available −6.1 pts

Return of capital, latest estimate not published 95%

Age 77 days 5.2 years

Net assets, PCOV as of Nov 2, 2026 and XRMI as of Oct 12, 2026 $10m $62m

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 XRMI: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	PCOV	XRMI	PCOV	XRMI	PCOV	XRMI
3 months	–	+1.6%	–	2.9%	–	+1.8 pts
6 months	–	+5.4%	–	6.0%	–	+0.4 pts
1 year	–	+8.7%	–	11.9%	–	−6.1 pts
3 years	–	+30.8%	–	35.1%	–	−52.2 pts
Since launchNot the same days: PCOV Aug 2026 · XRMI Aug 2021	−0.1%	+17.6%	1.9%	45.0%	not measured	−66.7 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.

XRMI

Over the year to Nov 4, 2026, XRMI paid 11.9% of its starting value in cash distributions while its price fell 3.8%. With every distribution reinvested, the fund returned +8.7%. S&P 500 (SPY) returned +14.8% over the same days, so a holder was behind by 6.1 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 10.6%, paid monthly. Global X estimates that 95% of the distribution paid Sep 24, 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 XRMI?: PCOV charges 0.34% a year and XRMI charges 0.60%, so PCOV is cheaper. Fees come from each fund's prospectus.

Other comparisons

PCOV vs WDTE PCOV vs BIGY PCOV vs APRJ PCOV vs APRH XRMI vs DDDD XRMI vs CDPI XRMI vs QQDH XRMI vs RECI

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 →XRMI on its own →PCOV dividend history →XRMI dividend history →XRMI holdings →Method →Standards and sources →

Sources and dates

PCOV filings on SEC EDGAR ↗

PCOV prospectus with the expense ratio (SEC) ↗

Principal website ↗

XRMI filings on SEC EDGAR ↗

XRMI prospectus with the expense ratio (SEC) ↗

XRMI 19a-1 distribution notice ↗

Global X page for XRMI ↗

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

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