QQA and QQQX are both covered call ETFs tracking the same benchmark, but with different approaches. QQA offers a 9.80% yield, while QQQX provides a 8.71% 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
Invesco Nasdaq-100 Income Advantage ETF
8.04
Overall Score
Nuveen Nasdaq 100 Dynamic Overwrite Fund
5.21
Overall Score
| Criteria | QQA | QQQX |
|---|---|---|
| Overall Score | 8.04 5.21 | |
| Total Return (25%) | 8.34 4.05 | |
| Downside Protection (25%) | 7.49 1.28 | |
| Upside Participation (25%) | 7.63 8.28 | |
| Consistency (15%) | 10.00 10.00 | |
| Expense Ratio (5%) | 7.62 1.25 | |
| Liquidity (5%) | 5.83 4.80 |
Since Inception
3 Years
Pro only
1 Year
Pro only
3 Months
Pro only
| Metric | QQA | QQQX |
|---|---|---|
| Expense Ratio | 0.390% | 0.900% |
| Inception Date | Jul 1, 2024 | Jan 25, 2007 |
| Issuer | Invesco | Nuveen |
| Distribution Frequency | Monthly | Quarterly |
| Maturity Rating | 4/5 stars | 5/5 stars |
Down capture of 63% against 76% up capture is the best ratio of the Nasdaq income funds, over a record of only 26 months.
Investor Profile:
QQA is an actively managed Invesco fund of funds that holds stocks and ETFs to mirror the Nasdaq-100, 121 positions. It earns option income through equity-linked notes (ELNs), which Invesco describes as giving upside participation and downside protection. About 20% of assets sit in an Invesco government money market fund. It pays monthly and charges 0.29%.
Volatility of 19.6% against QQQ's 20.9% and 101% down capture mean the overwrite lowered upside without lowering risk.
Investor Profile:
QQQX is a closed-end fund managed by Nuveen Fund Advisors. It invests at least 90% of managed assets in an equity portfolio built around the Nasdaq-100, 222 positions as of August 2026, and writes call options on it dynamically. Its stated objective is a total return with less volatility than the Nasdaq-100. It uses no leverage and pays quarterly.
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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