In the year to October 14, 2026, 55 of the 165 index income ETFs with a full year of history beat the index their options are written on, once all cash payments are reinvested. The median fund across the group lagged its benchmark by 1.1 percentage points. The pattern varies widely by issuer. Aptus, with three funds, showed a median gap of +4.2 points and a median total return of +20.1%, against median cash paid of 5.6% and a median price gain of +14.2%. iShares and Overlay Shares also finished ahead of their benchmarks on a median basis, by 2.3 and 2.2 points respectively. At the other end, Westwood's two funds showed a median gap of −14.2 points despite a median total return of +31.0%, and REX's six funds showed a median gap of −13.3 points. Innovator, with 14 funds completing a full year, showed none ahead of benchmark and a median gap of −11.4 points, alongside median cash paid of 5.5% and a median price change of +0.1%.
Where the cash has come from varies by issuer too. Among the 61 YieldMax funds with Rule 19a-1 notices, the median fund's latest distribution was 80% return of capital, and 26 of the 61 funds reported 90% or more. GraniteShares' 40 funds with notices showed a median return of capital of 95%, with 27 of 40 at 90% or above, alongside a median one-year price change of −66.2%. Defiance's five funds with notices showed a median return of capital of 100%, with all five at 90% or more, and a median price change of −13.3%. Global X and NEOS, by contrast, showed median returns of capital of 99% and 93% respectively, but their median one-year price changes were +1.4% and −3.9%, a smaller price impact than seen among the YieldMax and GraniteShares funds.
Across all funds grouped by distribution rate, the relationship between payout size and price holds up consistently. Funds paying under 8% a year showed a median price gain of +0.5% and a median total return of +7.3%. Funds paying 8% to 15% showed a median price gain of +0.8% and a median total return of +12.8%, the strongest total return band in the table. Once distribution rates rise above 15%, median price changes turn negative: −14.2% for the 15%-to-30% band, −43.2% for the 30%-to-60% band, and −72.1% for the 60%-and-above band, where median total return falls to −33.4%. In each of these higher bands, the fund still trailed its benchmark by between 1.8 and 2.2 points on a median basis, even after counting all the cash paid out.
Readers can check any individual fund's one-year price change, total return against its benchmark, and its most recent 19a-1 return-of-capital estimate on ETFIQ's fund pages.