ETV and SIXH are both covered call ETFs tracking the same benchmark, but with different approaches. ETV offers a 7.99% yield, while SIXH provides a 1.77% 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
6 Meridian Hedged Equity-Income ETF
6.21
Overall Score
| Criteria | ETV | SIXH |
|---|---|---|
| Overall Score | 5.96 6.21 | |
| Total Return (25%) | 5.09 5.42 | |
| Downside Protection (25%) | 3.71 10.00 | |
| Upside Participation (25%) | 7.82 4.39 | |
| Consistency (15%) | 9.89 5.95 | |
| Expense Ratio (5%) | 1.38 2.75 | |
| Liquidity (5%) | 4.98 4.63 |
Since Inception
3 Years
Pro only
1 Year
Pro only
3 Months
Pro only
| Metric | ETV | SIXH |
|---|---|---|
| Expense Ratio | 0.890% | 0.780% |
| Inception Date | Sep 30, 2005 | Oct 8, 2020 |
| Issuer | Eaton Vance | 6 Meridian |
| Distribution Frequency | Monthly | Monthly |
| Maturity Rating | 5/5 stars | 4/5 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%.
Cut the worst drawdown to -10.1% (SPY -23.9%), but pays only 1.8% and captured 44% of S&P 500 upside.
Investor Profile:
SIXH is an actively managed Exchange Traded Concepts fund that provides exposure to U.S. equities, 52 positions, and sells call options against SPY. Its largest positions are SPY (5.1%) and Altria (5.0%). The hedged label and a 20% down capture indicate a protective component, but the fund page does not describe it [to confirm with 6 Meridian]. It 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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