A head-to-head comparison of ProShares S&P 500 High Income ETF and VegaShares SPX NDX RTY Premium Income ETF covering yield, cost, risk, and income potential.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
ProShares is known for offering leveraged and inverse ETFs that provide amplified exposure to market movements, along with thematic and income-focused strategies. Their fund lineup spans digital assets (including Bitcoin and Ethereum exposure through BITO and EETH), dividend strategies like the Dividend Aristocrats fund (NOBL), covered call income strategies, and leveraged/inverse products that track major indices with 2x or 3x daily multipliers (such as SSO and TQQQ for tech-heavy portfolios). With 23 ETFs across specialized families including leveraged products, money market funds, and sector-specific offerings, ProShares serves investors seeking both traditional income and alternative exposure strategies.
See our curated list of related YouTube videos on ISPY.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
VegaShares operates a focused suite of two income-focused ETFs designed to generate regular distributions through options strategies and dividend investing. The firm's lineup includes ODTE and VAIE, both emphasizing yield generation for investors seeking regular cash flow. With a specialized niche in options-based and dividend income strategies, VegaShares targets investors prioritizing distributions over capital appreciation.
See our curated list of related YouTube videos on ODTE.
Seeks investment results that track the performance of the S&P 500 Daily Covered Call Index, pursuing a daily covered call writing strategy that combines a long position in the S&P 500 Index with short positions in daily call options.
Covered Call
Asset class
Equity
Equity
Inception date
09/11/2024
04/03/2026
Beta
0.9342
—
Last dividend
$0.2518
$0.0740
Ex-dividend date
07/01/2026
07/30/2026
Bottom lineChoose ISPY if you want simple, diversified core exposure in one low-cost fund. Choose ODTE if you want to maximize current income — roughly 14.92%, generated by selling options premium. There's no free lunch: ODTE's payout comes from selling options, which caps upside and can erode the share price over time, while ISPY keeps full price exposure.
Most used
Income calculator
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Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
ISPY has outpaced ODTE over the year to date, posting a 7.88% total return against 7.07%. Figures are total returns: price change plus every distribution reinvested.
Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 31, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Apr 2026” measures every fund from April 6, 2026 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the shared window since Apr 2026. 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 shared window since Apr 2026) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Quick verdict
ISPY (ProShares S&P 500 High Income ETF) and ODTE (VegaShares SPX NDX RTY Premium Income ETF) are both dividend ETFs, but they take different approaches.
ODTE offers the higher yield at 14.92% vs 6.30% for ISPY. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
ISPY is cheaper with an expense ratio of 0.55% compared to 0.76%.
They track different benchmarks: ISPY is linked to SPX while ODTE tracks S&P 500, Nasdaq-100, Russell 2000, which means their performance drivers differ.
ISPY has $1.23B in assets vs $3.08M for ODTE, but ODTE only launched April 2026 — AUM comparisons will become more meaningful as it builds a track record.
Who should choose each?
Choose ISPY
ProShares S&P 500 High Income ETF
Want simple, diversified core exposure as a portfolio building block.
Want to keep costs low — a 0.55% expense ratio vs 0.76% for ODTE.
Prefer an established track record — ODTE only launched April 2026.
Choose ODTE
VegaShares SPX NDX RTY Premium Income ETF
Want to maximize current income — ODTE distributes roughly 14.92% from selling options premium, vs 6.30% for ISPY.
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 ISPY & ODTE for free
Create a free Dividend Vision account to keep them on a watchlist, get notified when they declare dividends, and see how much income they would add to your portfolio.
On a $10,000 investment, ISPY would generate roughly $52.50/month, while ODTE would produce $124.33/month, at current distribution rates.
ISPY yield6.30%
ODTE yield14.92%
Monthly diff on $10K$71.83
Cost & efficiency
Over 10 years on $10,000, ISPY would cost approximately $550 in fees vs $760 for ODTE (simplified, not compounded). The $210.00 difference may be offset by yield or performance.
ISPY ER0.55%
ODTE ER0.76%
Strategy & risk
ISPY tracks SPX, while ODTE tracks S&P 500, Nasdaq-100, Russell 2000 with a covered call approach.
ISPY beta0.9342
ODTE beta—
Fund details
ISPY is managed by ProShares (launched 09/11/2024) with $1.23B in assets. ODTE is managed by VegaShares (launched 04/03/2026) with $3.08M in assets.
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Frequently asked questions
Is ISPY or ODTE better for dividend income?
It depends on your goals. ODTE 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 ISPY and ODTE?
ISPY (ProShares S&P 500 High Income ETF) tracks SPX, while ODTE (VegaShares SPX NDX RTY Premium Income ETF) tracks S&P 500, Nasdaq-100, Russell 2000 with a covered call approach. They are issued by ProShares and VegaShares respectively.
Can I hold both ISPY and ODTE?
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.
Which has lower fees, ISPY or ODTE?
ISPY has an expense ratio of 0.55% while ODTE charges 0.76%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in ISPY vs ODTE generate?
At current rates, $10,000 in ISPY would generate roughly $52.50 per month ($630.00 annually). The same in ODTE would produce about $124.33 per month ($1,492.00 annually).
Which has performed better historically, ISPY or ODTE?
ISPY has outpaced ODTE over the year to date, posting a 7.88% total return against 7.07%. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
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