Which paid more, QYLD or TCAL?

Over the year to Nov 4, 2026, QYLD paid 12.3% of its starting price in cash and TCAL paid 11.4%, so QYLD paid more. Cash paid is not the same as money made: the price change matters too.

Which returned more once distributions are counted, QYLD or TCAL?

With every distribution reinvested, QYLD returned +16.5% and TCAL +11.2% over the year to Nov 4, 2026.

Which is cheaper, QYLD or TCAL?

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

Data as of Nov 4, 2026.

Income ETFs

QYLD vs TCAL: Dividend Yield & Total Return

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Over the year to Nov 4, 2026, QYLD paid 12.3% of its price in cash against TCAL’s 11.4%, and returned more with it reinvested.

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Net assets: $8.5bn on Oct 12, 2026 for Global X NASDAQ 100 Covered Call ETF, and $324m on Nov 3, 2026 for T. Rowe Price Capital Appreciation Premium Income ETF.

QYLD on its own →TCAL on its own →

At a glance

12.3%

QYLD cash paid, 1 year

11.4%

TCAL cash paid, 1 year

+16.5%

QYLD total return, 1 year

+11.2%

TCAL total return, 1 year

QYLD · 1 year to Nov 4, 2026 4.2 pts ahead of QQQ

QYLD

+16.5%

QQQ

+12.3%

4.2 pts ahead of QQQ

QYLD over 1 year: paid 12.3%, price +3.3%, total +16.5%, QQQ +12.3%, +4.2 pts. Data to Nov 4, 2026.

QQQ

+12.3%

QYLD

+16.5%

12.3% of it arrived as cash

4.2 pts ahead of QQQ

Total return, distributions reinvested

4.2 pts ahead of QQQ

QYLD over 1 year: paid 12.3%, price +3.3%, total +16.5%, QQQ +12.3%, +4.2 pts. Data to Nov 4, 2026.

QQQ

+12.3%

QYLD

+16.5%

12.3% as cash

4.2 pts ahead of QQQ

12.3% of it arrived as cash. Total return, distributions reinvested. QYLD over 1 year: paid 12.3%, price +3.3%, total +16.5%, QQQ +12.3%, +4.2 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

TCAL · 1 year to Nov 4, 2026 3.4 pts behind its own stocks

TCAL

+11.2%

Own

+14.6%

3.4 pts behind its own stocks

TCAL over 1 year: paid 11.4%, price −1.2%, total +11.2%, its own stocks +14.6%, −3.4 pts. Data to Nov 4, 2026.

its own stocks

+14.6%

TCAL

+11.2%

11.4% of it arrived as cash

3.4 pts behind its own stocks

Total return, distributions reinvested

3.4 pts behind its own stocks

TCAL over 1 year: paid 11.4%, price −1.2%, total +11.2%, its own stocks +14.6%, −3.4 pts. Data to Nov 4, 2026.

its own stocks

+14.6%

TCAL

+11.2%

11.4% as cash

3.4 pts behind its own stocks

11.4% of it arrived as cash. Both charts share one scale, with zero at the line. TCAL over 1 year: paid 11.4%, price −1.2%, total +11.2%, its own stocks +14.6%, −3.4 pts. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

TCAL costs 0.26 points a year less; their one-year returns differ by 5.3 points; QYLD is far larger, $8.5bn against $310m.

Points (pts) are percentage points.

QYLD vs TCAL: Dividend Yield & Total Return
Measure	QYLD	TCAL
Paid and earned
Measure	QYLD	TCAL
Total return, 1 year	+16.5%	+11.2%
Price change, 1 year	rose 3.3%	fell 1.2%
Return of capital, issuer estimate	99% of the Sep 24, 2026 payment
Against its benchmark
Measure	QYLD	TCAL
Benchmark	Nasdaq-100, measured through QQQ	its own stocks
Cost and size
Measure	QYLD	TCAL
Expense ratio	0.60%	0.34%
Net assets, as of Oct 12, 2026	$8.5bn	$310m
Holdings
Measure	QYLD	TCAL
Holdings in common	16%

ETFIQ Distribution Coverage Score · QYLD scores higher How much of what it paid out did its total return cover?

IQ Income Score72.8QYLD54.8TCAL

How much of its payouts the fund's total return covered, ranked against 167 income ETFs not writing on a single company. 100 is best. How it is computed

QYLD 72.8

TCAL 54.8

0.3, the lowest in this set 99.7, the highest

One year only, and a ratio of two published numbers: it says nothing about where a distribution came from. All income ETFs ranked by it →

Method

Risk and return

Apr 4, 2025 to Oct 30, 2026 · 82 weekly returns

QYLD TCAL

Return

Total return edge QYLD +42.2% +15.2%

Annualized edge QYLD +25.0% +9.4%

Price return edge QYLD +17.6% −3.8%

Risk

Volatility edge TCAL 10.1% 8.5%

Max drawdown edge QYLD −3.9% −7.0%

Risk-adjusted

Sharpe edge QYLD 1.87 0.64

Sortino edge QYLD 3.49 0.95

Calmar edge QYLD 6.38 1.34

Reading

From Apr 2025 to Oct 2026, QYLD returned more: +42.2% to +15.2%. TCAL swung less: 8.5% to 10.1%. QYLD fell less at its worst: −3.9% to −7.0%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: QYLD vs TCAL: Dividend Yield & Total Return
Measure	QYLD	TCAL	Edge	How it is measured
Return
Total return	+42.2%	+15.2%	QYLD	Price change plus distributions, reinvested.
Annualized	+25.0%	+9.4%	QYLD	Total return as a yearly rate.
Price return	+17.6%	−3.8%	QYLD	Price change alone, distributions left out.
Risk
Volatility	10.1%	8.5%	TCAL	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	5.4%	5.7%	QYLD (slight)	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−3.9%	−7.0%	QYLD	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	1.87	0.64	QYLD	Return above Treasury bills per unit of volatility.
Sortino	3.49	0.95	QYLD	Return above Treasury bills per unit of downside deviation.
Calmar	6.38	1.34	QYLD	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 82 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

16%

By the books each fund has filed, QYLD and TCAL hold 16% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Jul 31, 2026.

50%

0 half 100%

half

16% in common

Positions both hold · largest shared weight first QYLD TCAL

AMAZON.COM, INC. 4.93% 1.55%

MICROSOFT CORPORATION 5.82% 1.51%

COSTCO WHOLESALE CORPORATION 1.97% 1.21%

CISCO SYSTEMS, INC. 2.13% 1.15%

ADVANCED MICRO DEVICES, INC. 3.62% 1.05%

META PLATFORMS, INC. 2.78% 1.02%

BROADCOM INC. 3.11% 0.96%

NETFLIX, INC. 1.41% 0.96%

Pepsico, Inc. 0.89% 1.17%

WALMART INC. 2.53% 0.78%

GILEAD SCIENCES, INC. 0.75% 1.49%

STARBUCKS CORPORATION 0.56% 0.60%

Only in one fund ↓

Only in QYLD

NVIDIA CORPORATION 8.20%

APPLE INC. 7.65%

MICRON TECHNOLOGY, INC. 4.32%

ALPHABET INC. 3.50%

ALPHABET INC. 3.28%

TESLA, INC. 2.62%

INTEL CORPORATION 2.11%

APPLIED MATERIALS, INC. 1.88%

Only in TCAL

DANAHER CORP 2.02%

WATERS CORP 1.99%

VERALTO CORP 1.89%

WASTE CONNECTIONS INC 1.82%

YUM BRANDS INC 1.73%

MCDONALD S CORP 1.71%

VISA INC-CLASS A SHARES 1.71%

LINDE PLC 1.65%

Check overlap with more funds →

Side by side

QYLD Global X NASDAQ 100 Covered Call ETF · Covered call on QQQ, paying monthly TCAL T. Rowe Price Capital Appreciation Premium Income ETF · Covered call on its own stocks, paying monthly

Issuer Global X T. Rowe Price

Strategy covered call covered call

Benchmark Nasdaq-100 (QQQ) TCAL's own stocks, without the options (from its filed holdings, rebalanced at each filing; latest Jun 30, 2026)

Pays monthly monthly

Payout rate, annualized 12.2% 13.0%

Expense ratio 0.60% 0.34%

Cash paid, 1 year 12.3% 11.4%

Price change, 1 year +3.3% −1.2%

Total return, 1 year +16.5% +11.2%

Benchmark return, 1 year +12.3% +14.6%

Ahead or behind +4.2 pts −3.4 pts

Return of capital, latest estimate 99% not published

Age 12.9 years 1.6 years

Net assets, QYLD as of Oct 12, 2026 and TCAL as of Nov 3, 2026 $8.5bn $324m

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: QYLD vs TCAL: Dividend Yield & Total Return
	Total return		Cash paid		Against the benchmark
Window	QYLD	TCAL	QYLD	TCAL	QYLD	TCAL
3 months	+2.4%	+5.3%	3.0%	2.6%	+5.9 pts	−1.8 pts
6 months	+5.4%	+12.3%	6.0%	6.3%	+5.8 pts	−0.9 pts
1 year	+16.5%	+11.2%	12.3%	11.4%	+4.2 pts	−3.5 pts
3 years	+52.7%	–	37.9%	–	−38.6 pts	–
Since launchNot the same days: QYLD Dec 2013 · TCAL Mar 2025	+194.8%	+12.0%	117.5%	16.9%	−610.5 pts	not measured

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Alert

About each fund

QYLD

Over the year to Nov 4, 2026, QYLD paid 12.3% of its starting value in cash distributions while its price rose 3.3%. With every distribution reinvested, the fund returned +16.5%. Nasdaq-100 (QQQ) returned +12.3% over the same days, so a holder was ahead by 4.2 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 12.2%, paid monthly. Global X estimates that 99% 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.

TCAL

Over the year to Nov 4, 2026, TCAL paid 11.4% of its starting value in cash distributions while its price fell 1.2%. With every distribution reinvested, the fund returned +11.2%. TCAL's own stocks, without the options (from its filed holdings, rebalanced at each filing; latest Jun 30, 2026) returned +14.6% over the same days, so a holder was behind by 3.4 pts. At its price on Nov 4, 2026 the latest distribution annualizes to 13.0%, paid monthly.

Questions people ask

Which paid more, QYLD or TCAL?: Over the year to Nov 4, 2026, QYLD paid 12.3% of its starting price in cash and TCAL paid 11.4%, so QYLD paid more. Cash paid is not the same as money made: the price change matters too.
Which returned more once distributions are counted, QYLD or TCAL?: With every distribution reinvested, QYLD returned +16.5% and TCAL +11.2% over the year to Nov 4, 2026.
Which is cheaper, QYLD or TCAL?: QYLD charges 0.60% a year and TCAL charges 0.34%, so TCAL is cheaper. Fees come from each fund's prospectus.

Other comparisons

QYLD vs SCEP QYLD vs GRNI QYLD vs CVRD QYLD vs JUDO TCAL vs GPIQ TCAL vs JEPQ TCAL vs FTQI TCAL vs ROCQ

Where to next

Nasdaq-100 (QQQ) →QYLD on its own →TCAL on its own →QYLD dividend history →QYLD holdings →TCAL dividend history →TCAL holdings →Method →Standards and sources →

Sources and dates

QYLD filings on SEC EDGAR ↗

QYLD prospectus with the expense ratio (SEC) ↗

QYLD 19a-1 distribution notice ↗

Global X page for QYLD ↗

TCAL filings on SEC EDGAR ↗

TCAL prospectus with the expense ratio (SEC) ↗

T. Rowe Price website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

It is a place in a set, not a rating or a recommendation.

Overlap adds up the smaller of the two weights for each security both funds hold.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, QYLD against TCAL, data as of Nov 4, 2026. https://etfiq.com/compare/income/qyld-vs-tcal

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