High-Yield Covered Call ETFs
Generate exceptional monthly income through ultra-high yield covered call and options income strategies. Access professional options management with yields ranging from 12% to 65%+ annually.
High Risk - High Reward Strategy
High-yield covered call ETFs carry significant risks: These strategies can result in substantial capital losses while generating high income. Ultra-high yields are not guaranteed and may vary dramatically based on market conditions.
- Potential for significant principal loss despite high income
- Limited upside participation in bull markets
- Distribution yields are not guaranteed and may fluctuate
- Complex options strategies may not be suitable for all investors
- Single stock strategies carry concentration risk
Top High-Yield Covered Call ETFs
Most popular ultra-high yield options income strategies
MSTY
YieldMax MSTR Option Income Strategy ETF
Underlying: Strategy (MSTR)
Seeks current income by selling options tied to Strategy (MSTR). Upside is capped versus holding MSTR shares.
Dividend history and total returnSPYI
NEOS S&P 500 High Income ETF
Underlying: S&P 500 Index
Seeks high monthly income from S&P 500 Index exposure, using an options overlay.
Dividend history and total returnULTY
YieldMax Ultra Option Income Strategy ETF
Underlying: 15–30 high-volatility U.S. equities (actively selected)
Seeks weekly current income via call-spread strategies across a diversified book of roughly 15–30 U.S.-listed securities selected largely for implied volatility, with capped upside on those names.
Dividend history and total returnQQQI
NEOS Nasdaq-100 High Income ETF
Underlying: Nasdaq-100 Index
Seeks high monthly income, with tax-efficient exposure to the Nasdaq-100, by holding the index stocks and writing call options. Index options may receive Section 1256 tax treatment.
Dividend history and total returnNVDY
YieldMax NVDA Option Income Strategy ETF
Underlying: NVDA (NVIDIA)
Seeks current income via a synthetic covered-call / options strategy on NVIDIA (NVDA), accepting capped upside versus holding NVDA shares outright.
Dividend history and total returnTSLY
YieldMax TSLA Option Income Strategy ETF
Underlying: TSLA (Tesla)
Seeks current income via a synthetic covered-call / options strategy on Tesla (TSLA), accepting capped upside versus holding TSLA shares outright.
Dividend history and total returnHigh-Yield ETF Providers
Leading companies specializing in ultra-high yield options strategies
YieldMax
59 ETFs
Single-stock and portfolio option-income ETFs
NEOS
18 ETFs
Options income on indexes, bitcoin, real estate, gold, and bonds
Defiance
11 ETFs
Options-income, leveraged income, and thematic ETFs
Roundhill
32 ETFs
0DTE covered calls and WeeklyPay ETFs
REX Shares
7 ETFs
Weekly equity premium income and single-stock growth-and-income ETFs
High-Yield Strategy Comparison
| Strategy Type | Typical Yield | Risk Level | Best For | Examples |
|---|---|---|---|---|
| Single Stock Options | 25-65%+ | Very High | Tactical Income | MSTY, NVDY, TSLY |
| Index Options | 12-18% | Moderate-High | Core Income | SPYI, QQQI, IWMI |
| Multi-Stock Options | 30-50% | Very High | Diversified High Income | ULTY, YMAX |
| Traditional Covered Calls | 7-12% | Moderate | Conservative Income | JEPI, JEPQ, QYLD |
Ultra-High Yield (25%+)
Extreme income generation with significant principal risk
High Yield (12-25%)
Balanced approach to high income with index diversification
High-Yield ETF Selection Guide
Conservative Approach
- ✓Tax-efficient structure
- ✓Index diversification
- ✓Professional management
Aggressive Approach
- !Maximum income potential
- !High volatility exposure
- !Tactical allocation only
Balanced Approach
- •70% index-based (SPYI, QQQI)
- •30% selective single-stock
- •Regular rebalancing