Over the year to October 21, 2026, 49 of the 160 broad option income ETFs with a full year of trading finished ahead of their benchmark once every cash payment was counted and reinvested. The median fund across the group lagged its benchmark by 1.1 points. The pattern behind that gap shows up clearly when funds are grouped by how much cash they paid out. Funds distributing under 8% a year had a median total return of +6.8% and a median gap of −3.4 points. Funds in the 8% to 15% band did better on both counts, with a median total return of +12.3% and a median gap of only −0.6 points. Above that, the relationship turns. Funds paying 15% to 30% had a median price change of −12.9%. Funds paying 30% to 60% saw a median price change of −42.6% and a median total return of −7.3%. Funds paying 60% or more had a median price change of −63.1% and a median total return of −21.4%.
The issuer breakdown shows how this plays out across fund families. First Trust, with 19 funds completing a full year, had a median cash paid of 8.6% and a median total return of +6.5%, with 5 of its funds ahead of benchmark. YieldMax, with 16 funds, had a median cash paid of 33.2%, a median price change of −24.7%, and a median total return of +8.6%, with 8 funds ahead of benchmark. Innovator, with 13 funds, paid a median of 5.3% in cash and had none of its 13 funds ahead of benchmark, with a median gap of −10.9 points. Global X and NEOS both posted median total returns above 13% and 4%, respectively, with Global X's median gap at +0.0 points and NEOS at +1.1 points. Amplify and GraniteShares showed negative median total returns, at −5.6% and −3.5%.
Return of capital estimates, drawn from each issuer's own Rule 19a-1 notices, add another layer. Across 43 YieldMax funds with notices, the median latest distribution was 88% return of capital, and 21 of those funds were estimated at 90% or more. GraniteShares, with 40 funds reporting, had a median return of capital of 95%, with 27 funds at 90% or more, alongside a median one-year price change of −65.3%. Roundhill's 32 funds had a median return of capital of 100%, all 32 at 90% or more, against a median price change of −26.7%. By contrast, Innovator's 15 funds with notices had a median return of capital of just 50%, with none reaching the 90% threshold, and a median price change of +0.0%. Overlay Shares likewise showed a lower median return of capital, at 44%, with a median price change of +4.4%.
Readers can check the latest distribution rate, price change, and return of capital estimate for any individual fund on its ETFIQ fund page.