ISPY and SIXH are both covered call ETFs tracking the same benchmark, but with different approaches. ISPY offers a 5.26% 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
ProShares S&P 500 High Income ETF
5.61
Overall Score
6 Meridian Hedged Equity-Income ETF
6.21
Overall Score
| Criteria | ISPY | SIXH |
|---|---|---|
| Overall Score | 5.61 6.21 | |
| Total Return (25%) | 7.63 5.42 | |
| Downside Protection (25%) | — 10.00 | |
| Upside Participation (25%) | 8.95 4.39 | |
| Consistency (15%) | 6.00 5.95 | |
| Expense Ratio (5%) | 5.62 2.75 | |
| Liquidity (5%) | 5.74 4.63 |
Since Inception
3 Years
Pro only
1 Year
Pro only
3 Months
Pro only
| Metric | ISPY | SIXH |
|---|---|---|
| Expense Ratio | 0.550% | 0.780% |
| Inception Date | Mar 22, 2023 | Oct 8, 2020 |
| Issuer | ProShares | 6 Meridian |
| Distribution Frequency | Monthly | Monthly |
| Maturity Rating | 2/5 stars | 4/5 stars |
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.
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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