ISPY and ETV are both covered call ETFs tracking the same benchmark, but with different approaches. ISPY offers ~10% yield with a focus on yield-focused investor accepting minimal downside protection, while ETV provides ~8% yield targeting income investor comfortable with cef structure seeking long track record. 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
ProShares S&P 500 High Income ETF
5.6
Overall Score
Eaton Vance Tax-Managed Buy-Write Opportunities
5.2
Overall Score
| Criteria | ISPY | ETV |
|---|---|---|
| Overall Score | 5.6 5.2 | |
| Total Return (25%) | 8.0 5.0 | |
| Downside Protection (25%) | — 3.8 | |
| Upside Participation (25%) | 9.0 7.8 | |
| Consistency (15%) | 5.3 5.0 | |
| Expense Ratio (5%) | 5.6 1.4 | |
| Liquidity (5%) | 5.7 5.0 |
Since Inception
3 Years
Pro only
1 Year
Pro only
3 Months
Pro only
| Metric | ISPY | ETV |
|---|---|---|
| Expense Ratio | 0.550% | 0.890% |
| Inception Date | Mar 22, 2023 | Sep 30, 2005 |
| Issuer | ProShares | Eaton Vance |
| Distribution Frequency | Monthly | Monthly |
| Maturity Rating | 2/5 stars | 5/5 stars |
High yield but zero downside protection is a significant red flag — not suitable as a defensive holding
Investor Profile:
Yield-focused investor accepting minimal downside protection
Historical value for stress-testing — but newer ETF alternatives offer better structure and lower fees
Investor Profile:
Income investor comfortable with CEF structure seeking long track record
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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