Data as of .
PCOV vs XSPI: which paid, and which earned it?
PCOV and XSPI both write options for income.
Performance, window by window
| Window | Total return | Cash paid | Against the benchmark | |||
|---|---|---|---|---|---|---|
| PCOV | XSPI | PCOV | XSPI | PCOV | XSPI | |
| 3 months | not published | +3.7% | not published | 4.2% | not published | +1.4 pts |
| 6 months | not published | +20.0% | not published | 9.2% | not published | +1.9 pts |
| Since launch | −3.7% | +11.6% | 0.0% | 11.1% | −3.0 pts | +0.2 pts |
| PCOV Principal Equity Premium Income ETF Covered call on SPY | XSPI NEOS Boosted S&P 500(R) High Income ETF Option income on SPY, paying monthly | |
|---|---|---|
| Issuer | Principal | NEOS |
| Strategy | covered call | option income |
| Benchmark | S&P 500 (SPY) | S&P 500 (SPY) |
| Pays | not established | monthly |
| Payout rate, annualized | not published | 17.1% |
| Expense ratio | 0.34% | 0.98% |
| Cash paid, 1 year | 0.0% (since launch on Aug 19, 2026) | 11.1% (since launch on Feb 3, 2026) |
| Price change, 1 year | −3.7% | −0.3% |
| Total return, 1 year | −3.7% (since launch on Aug 19, 2026) | +11.6% (since launch on Feb 3, 2026) |
| Benchmark return, 1 year | −0.7% | +11.3% |
| Ahead or behind | −3.0 pts | +0.2 pts |
| Return of capital, latest estimate | not published | 99% |
| Age | 30 days | 227 days |
| Net assets | not published | $113m |
PCOV in plain words
Over the period since launch on Aug 19, 2026 to Sep 18, 2026, PCOV paid 0.0% of its starting value in cash distributions while its price fell 3.7%. With every distribution reinvested, the fund returned −3.7%. S&P 500 (SPY) returned −0.7% over the same days, so a holder was behind by 3.0 pts.
XSPI in plain words
Over the period since launch on Feb 3, 2026 to Sep 18, 2026, XSPI paid 11.1% of its starting value in cash distributions while its price fell 0.3%. With every distribution reinvested, the fund returned +11.6%. S&P 500 (SPY) returned +11.3% over the same days, so a holder was about even. At its price on Sep 18, 2026 the latest distribution annualizes to 17.1%, paid monthly. NEOS estimates that 99% of the distribution paid Jul 10, 2026 was a return of capital (19a-1 notice, estimated, a tax characterization rather than a measure of erosion).
Questions people ask
- Which is cheaper, PCOV or XSPI?
- PCOV charges 0.34% a year and XSPI charges 0.98%, so PCOV is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, PCOV against XSPI, data as of Sep 18, 2026. https://etfiq.com/compare/income/pcov-vs-xspi Free to use with attribution; the underlying files are at Open data.