FTHI and ISPY are both covered call ETFs tracking the same benchmark, but with different approaches. FTHI offers a 8.97% yield, while ISPY provides a 5.26% 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
First Trust BuyWrite Income ETF
5.78
Overall Score
ProShares S&P 500 High Income ETF
5.61
Overall Score
| Criteria | FTHI | ISPY |
|---|---|---|
| Overall Score | 5.78 5.61 | |
| Total Return (25%) | 3.80 7.63 | |
| Downside Protection (25%) | 5.38 — | |
| Upside Participation (25%) | 6.54 8.95 | |
| Consistency (15%) | 9.93 6.00 | |
| Expense Ratio (5%) | 1.88 5.62 | |
| Liquidity (5%) | 5.27 5.74 |
Since Inception
3 Years
Pro only
1 Year
Pro only
3 Months
Pro only
| Metric | FTHI | ISPY |
|---|---|---|
| Expense Ratio | 0.750% | 0.550% |
| Inception Date | Jan 6, 2014 | Mar 22, 2023 |
| Issuer | First Trust | ProShares |
| Distribution Frequency | Monthly | Monthly |
| Maturity Rating | 5/5 stars | 2/5 stars |
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.
Daily calls leave 89% of S&P 500 upside but 111% of the downside, for a 5.3% yield.
Investor Profile:
ISPY holds 514 S&P 500 stocks and describes its approach as a covered call strategy using daily options. It aims for monthly income and long-term returns in line with the S&P 500, and its page compares it with the S&P 500 Daily Covered Call Index. The page does not say whether the options are on an index or an ETF, or how much of the portfolio is covered.
Both funds are scored on total return, downside protection, upside participation, distribution consistency, cost and liquidity, against the same benchmark and the same window.
28 covered call ETFs, rescored every month on total return, downside protection and NAV stability. One email a month, no promotions.
We store your email to send the monthly ranking. Unsubscribe any time by replying to any email. We never share or sell it.