{"url":"https://etfiq.com/questions/do-covered-call-etfs-lose-value","section":"questions","title":"Do covered call ETFs lose value? | ETFIQ","description":"Many do lose price while paying cash, which is not the same as losing money. Answered from ETFIQ data as of Oct 21, 2026.","as_of":"Oct 21, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Do covered call ETFs lose value?","acceptedAnswer":{"@type":"Answer","text":"Many do lose price while paying cash, which is not the same as losing money. Over the year to Oct 21, 2026, 49 of the 160 broad option income ETFs with a full year finished ahead of their benchmark once every distribution was counted and reinvested."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Questions","item":"https://etfiq.com/questions/"},{"@type":"ListItem","position":3,"name":"Do covered call ETFs lose value?","item":"https://etfiq.com/questions/do-covered-call-etfs-lose-value"}]},{"@type":"WebPage","name":"Do covered call ETFs lose value?","description":"Many do lose price while paying cash, which is not the same as losing money. Answered from ETFIQ data as of Oct 21, 2026.","url":"https://etfiq.com/questions/do-covered-call-etfs-lose-value","dateModified":"2026-10-21","isPartOf":{"@type":"WebSite","name":"ETFIQ","url":"https://etfiq.com"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".lede"]},"publisher":{"@id":"https://etfiq.com/#org"}}],"characters":2827,"truncated":false,"content":"ETFIQ / Questions / Do covered call ETFs lose value? \n \n Answered from ETFIQ data as of Oct 21, 2026 .\n Do covered call ETFs lose value?\n Many do lose price while paying cash, which is not the same as losing money. Over the year to Oct 21, 2026, 49 of the 160 broad option income ETFs with a full year finished ahead of their benchmark once every distribution was counted and reinvested.\n A covered call fund sells away part of the upside, so in a rising market it usually trails the index. The cash it pays can exceed what it earns. When it does, the price falls to cover the difference.\n The fair test is total return with distributions reinvested, against the fund's own benchmark. ETFIQ publishes it for every fund over five windows.\n A fund paying 40 percent a year while its price falls 30 percent has not necessarily hurt you. A fund paying 8 percent while flat has not necessarily helped. The gap to the benchmark settles it.\n On ETFIQ today\n Ticker Fund Cash paid 1Y Price 1Y Total return 1Y vs benchmark \n USOY Defiance Oil Enhanced Options Income ETF 52.5% +7.6% +77.5% \u221256.6 pts \n CHPY YieldMax Semiconductor Portfolio Option Income ETF 48.6% +5.5% +62.2% +45.8 pts \n GDXY YieldMax Gold Miners Option Income Strategy ETF 46.6% \u221237.9% +6.3% \u221213.7 pts \n ULTY YieldMax Ultra Option Income Strategy ETF 45.0% \u221254.0% \u22128.3% +2.7 pts \n XBTY GraniteShares YieldBOOST Bitcoin ETF 40.0% \u221265.3% \u221229.0% \u22124.5 pts \n YMAX YieldMax Universe Fund of Option Income ETFs 36.8% \u221240.8% \u22120.8% \u221217.5 pts \n ETCO Grayscale Ethereum High Income ETF 36.1% \u221269.4% \u221238.8% \u22121.2 pts \n LFGY YieldMax Crypto Industry & Tech Portfolio Option Income ETF 36.1% \u221254.9% \u221220.8% \u221237.2 pts \n \n Where to next\n Every income ETF What return of capital means Compare Where these figures came from\n Rule 19a-1 distribution notices and prospectus filings on SEC EDGAR SEC EDGAR, full-text search of fund filings SEC Form N-PORT, what a fund filed it holds Rule 19a-1, what a distribution notice must say ETFIQ links to the documents behind every figure; a link is not an endorsement.\n ETFIQ is an independent publisher and makes no recommendations. Standards and sources \n Cite this page. ETFIQ, Do covered call ETFs lose value?, data as of Oct 21, 2026. https://etfiq.com/questions/do-covered-call-etfs-lose-value Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data .\n Other forms Plain ETFIQ, Do covered call ETFs lose value?, data as of Oct 21, 2026. https://etfiq.com/questions/do-covered-call-etfs-lose-value APA ETFIQ. (Oct 21, 2026). Do covered call ETFs lose value?. Retrieved from https://etfiq.com/questions/do-covered-call-etfs-lose-value Markdown [Do covered call ETFs lose value? (ETFIQ, Oct 21, 2026)](https://etfiq.com/questions/do-covered-call-etfs-lose-value)","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","license_text":"Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, Do covered call ETFs lose value?, data as of Oct 21, 2026. https://etfiq.com/questions/do-covered-call-etfs-lose-value"}