ETV and FTHI are both covered call ETFs tracking the same benchmark, but with different approaches. ETV offers a 7.99% yield, while FTHI provides a 8.97% yield. Compare their scores, yields, and performance metrics to find the best fit for your portfolio.
Compare covered call ETFs with the same benchmark side by side
Eaton Vance Tax-Managed Buy-Write Opportunities
5.96
Overall Score
First Trust BuyWrite Income ETF
5.78
Overall Score
| Criteria | ETV | FTHI |
|---|---|---|
| Overall Score | 5.96 5.78 | |
| Total Return (25%) | 5.09 3.80 | |
| Downside Protection (25%) | 3.71 5.38 | |
| Upside Participation (25%) | 7.82 6.54 | |
| Consistency (15%) | 9.89 9.93 | |
| Expense Ratio (5%) | 1.38 1.88 | |
| Liquidity (5%) | 4.98 5.27 |
Since Inception
3 Years
Pro only
1 Year
Pro only
3 Months
Pro only
| Metric | ETV | FTHI |
|---|---|---|
| Expense Ratio | 0.890% | 0.750% |
| Inception Date | Sep 30, 2005 | Jan 6, 2014 |
| Issuer | Eaton Vance | First Trust |
| Distribution Frequency | Monthly | Monthly |
| Maturity Rating | 5/5 stars | 5/5 stars |
The call overlay costs upside (78% captured) without cushioning losses (95% down capture), and a 1.08% expense ratio adds to the drag.
Investor Profile:
ETV is a closed-end fund that holds two stock segments: one seeks to beat the S&P 500, the other the Nasdaq-100. It sells index call options continuously on at least 80% of each segment, with S&P 500 calls on the first and Nasdaq-100 calls on the second. The fund is tax-managed, uses no leverage, and pays monthly. Its shares trade at a discount to NAV of about 9%.
A 9.0% yield with a 69% overwrite, but the worst drawdown (-23.6%) was nearly identical to SPY's (-23.9%).
Investor Profile:
FTHI holds about 192 U.S.-listed equities of all sizes and writes covered calls on the S&P 500 Index. The overwrite averages 69% of NAV, with calls about 0.6% out of the money and 26 days to expiry on average. First Trust Advisors manages it and the fund pays monthly.
Both funds are scored on total return, downside protection, upside participation, distribution consistency, cost and liquidity, against the same benchmark and the same window.
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