A head-to-head comparison of Amplify CWP Enhanced Dividend Income ETF and Amplify CWP Growth & Income ETF covering yield, cost, risk, and income potential.
Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.
DIVO has lagged QDVO over the trailing twelve months, posting a 11.62% total return against 13.84%. Measured from Aug 2024 — the start of shared available history — QDVO has compounded at 20.76% a year versus 14.04% for DIVO. DIVO has been the steadier holding, though — annualized volatility of 9.5% against 13.3% for QDVO. Figures are total returns: price change plus every distribution reinvested.
Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 30, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Aug 2024” measures every fund from August 22, 2024 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the past year. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the past year) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Side-by-side snapshot
Side-by-side snapshot. Each row is one metric;
each column is one fund.
U.S. large-cap value / dividend equities with a covered call overlay
Objective
Seeks to provide current income as the primary objective and capital appreciation as the secondary objective by investing at least 80% of net assets in dividend-paying U.S. exchange-traded equity securities while opportunistically utilizing covered call options on those securities.
Seeks to provide high monthly income with the potential for capital appreciation by investing in quality U.S. dividend-paying equities and writing covered call options on those holdings.
Bottom lineChoose DIVO if you want broad equity exposure. Choose QDVO if you want to maximize current income — roughly 11.18%, generated by selling options premium. DIVO and QDVO both use option or derivative overlays. Their tradeoff is the underlying exposure, how each option strategy is implemented, and the yield each targets; either overlay can limit upside participation, so neither offers uncapped price exposure.
How the risk works
Read this before the income numbers below: the strategy mechanics on this page shape what those payouts can cost you.
Capped upside and premium dependence. QDVO generates income by selling options, which trades away part of a strong rally in exchange for premium. Distributions can include return of capital, and a payout the underlying assets cannot sustain shows up as NAV erosion over time — the big yield number is not free.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Amplify ETFs is known for offering specialized, thematic investment solutions across diverse market segments including digital assets, commodities, and dividend strategies. The issuer's lineup spans multiple fund families covering income-focused strategies, covered call approaches, commodity exposure, and thematic sectors such as cybersecurity, blockchain, gaming, and sustainable investing. Notable for tickers like BLOK (blockchain), HACK (cybersecurity), and DIVO (dividend), Amplify combines traditional income strategies with alternative themes and emerging asset classes, appealing to investors seeking both yield and exposure to innovation-driven sectors.
See our curated list of related YouTube videos on DIVO and QDVO.
DIVO (Amplify CWP Enhanced Dividend Income ETF) and QDVO (Amplify CWP Growth & Income ETF) are both monthly-pay dividend ETFs, but they take different approaches.
QDVO offers the higher yield at 11.18% vs 4.88% for DIVO. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
DIVO is the larger fund by assets ($7.86B), but assets alone do not establish trading costs or liquidity.
Who should choose each?
Choose DIVO
Amplify CWP Enhanced Dividend Income ETF
Want broad equity exposure.
Prefer lower volatility — a beta of 0.5 vs 0.9 for QDVO.
Choose QDVO
Amplify CWP Growth & Income ETF
Want to maximize current income — QDVO distributes roughly 11.18% from selling options premium, vs 4.88% for DIVO.
Are comfortable with an options-income strategy — a large payout in exchange for capped upside.
Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.
Still deciding? Track DIVO & QDVO for free
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On a $10,000 investment, DIVO would generate roughly $40.67 cash per distribution, while QDVO would produce $93.17 cash per distribution, at current distribution rates. Both pay monthly distributions.
DIVO yield4.88%
QDVO yield11.18%
Cash diff on $10K$52.50
Cost & efficiency
Over 10 years on $10,000, DIVO would cost approximately $560 in fees vs $560 for QDVO (simplified, not compounded). Both charge the same expense ratio.
DIVO ER0.56%
QDVO ER0.56%
Strategy & risk
DIVO is an ETF built around a derivative overlay strategy, while QDVO tracks U.S. large-cap value / dividend equities with a covered call overlay with an options approach. Beta is 0.54 for DIVO and 0.9338 for QDVO, making DIVO the less volatile of the two by this measure.
DIVO beta0.54
QDVO beta0.9338
Fund details
DIVO is managed by Amplify ETFs (launched 12/14/2016) with $7.86B in assets. QDVO is managed by Amplify ETFs (launched 08/21/2024) with $779M in assets.
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Frequently asked questions
What is the current distribution rate for DIVO and QDVO?
DIVO currently distributes 4.88% and QDVO 11.18%, based on fund data updated September 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.
Is DIVO or QDVO better for dividend income?
It depends on your goals. QDVO currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between DIVO and QDVO?
DIVO (Amplify CWP Enhanced Dividend Income ETF) is an ETF built around a derivative overlay strategy, while QDVO (Amplify CWP Growth & Income ETF) tracks U.S. large-cap value / dividend equities with a covered call overlay with an options approach. They are issued by Amplify ETFs and Amplify ETFs respectively.
Can I hold both DIVO and QDVO?
Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.
Is DIVO or QDVO safer?
By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — DIVO scores 93, QDVO scores 84, so DIVO's payout currently looks the more resilient of the two. DIVO has also shown lower price volatility (beta 0.54 vs 0.93 for QDVO). No score makes an investment risk-free — treat this as a screening signal, not a guarantee, and the leverage, options-income, or crypto caveats flagged on this page apply regardless of score.
Which has lower fees, DIVO or QDVO?
DIVO and QDVO both charge the same expense ratio of 0.56%, so neither is cheaper on fees — pick based on yield, strategy, or underlying index instead.
How much income does $10,000 in DIVO vs QDVO generate?
At current rates, $10,000 in DIVO would generate roughly $40.67 cash per distribution ($488.00 annually). The same in QDVO would produce about $93.17 cash per distribution ($1,118.00 annually).
Which has performed better historically, DIVO or QDVO?
DIVO has lagged QDVO over the trailing twelve months, posting a 11.62% total return against 13.84%. Measured from Aug 2024 — the start of shared available history — QDVO has compounded at 20.76% a year versus 14.04% for DIVO. DIVO has been the steadier holding, though — annualized volatility of 9.5% against 13.3% for QDVO. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
Explore related screeners
Lateral filters that include these funds — browse the full peer set on DividendVision.
DIVO and QDVO are both actively managed ETFs from Amplify that blend dividend-paying U.S. equities with covered call option writing to generate monthly income. The key distinction is their yield target and equity exposure: DIVO prioritizes moderate income from a broad dividend-stock universe with lower volatility, while QDVO targets substantially higher income from a more concentrated large-cap value strategy—accepting meaningfully higher beta and a shorter track record to do so. QDVO also carries considerably higher equity beta (0.9338 vs. 0.54), meaning its underlying stock holdings are more volatile and sensitive to market swings. QDVO is the newer fund, having launched on 08/21/2024, while DIVO has operated since 12/14/2016, giving DIVO a much longer history to evaluate. Both charge an identical 0.56% expense ratio, but DIVO operates at $7.86B in assets under management compared to QDVO's $779M, reflecting a substantial difference in fund size and investor adoption.
Who each is best for
DIVO: Fits investors seeking meaningful monthly dividend income without extreme equity volatility—those comfortable with a covered call trade-off (capped upside in exchange for sold premium) and wanting a fund with a longer operating history to evaluate performance and option-writing consistency.
QDVO: Fits investors pursuing aggressive current income and willing to accept higher stock-market sensitivity and options complexity in pursuit of it; designed for those with shorter time horizons who prioritize cash flow over capital preservation.
Key risks to know
NAV erosion at distribution yields exceeding 10%.QDVO's 11.18% payout requires scrutiny: if underlying equity returns and option premiums do not sustain the distribution, the fund may return capital to shareholders and erode net asset value over time. The fund's limited operating history makes this difficult to assess.
Concentrated covered call exposure and call strike selection risk. Both funds rely on the option-writing strategy's execution—specifically, whether sold calls are struck at levels that allow meaningful stock appreciation or whether they consistently cap gains just above current prices. Tighter strike selection boosts current income but limits upside capture, and both funds' success depends on active management decisions in that execution. DIVO's lower beta (0.54) offers more dampening, making it a materially less volatile vehicle.
Options assignment and reinvestment timing. When covered calls are exercised (shares called away at the strike price), the fund must redeploy proceeds at market prices, potentially locking in losses if equities have rallied above the call strike or reinvesting at lower yields if market conditions shift.
Bottom line
If you want a longer-tested income vehicle with lower volatility and moderate yield, DIVO's track record and lower beta distinguish it from QDVO. If you're drawn to maximum monthly cash flow and can tolerate higher equity swings and options complexity, QDVO's 11.18% yield addresses that appetite—though whether such a high payout can be sustained over time depends on how underlying equity returns and option premium evolve. Past performance does not predict future results.
AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.
Learn the method
The metrics behind this comparison, explained in the Academy.
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