ETF Comparison

NVDY vs NVII: Which Is the Better Pick in 2026?

A head-to-head comparison of YieldMax NVDA Option Income Strategy ETF and REX NVDA Growth & Income ETF covering yield, cost, risk, and income potential.

Updated October 2, 2026

How these figures are calculated: methodology.

Best for

NVDYInvestors who want to maximize current income — roughly 35.42%, generated by selling options premium.
NVIIInvestors who are comfortable trading away most upside for a large, steady payout.

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Visual comparison

Key metrics

Projected income on $10K

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.

NVDY has lagged NVII over the trailing twelve months, posting a 25.47% total return against 28.05%. Measured from May 2025 — the start of shared available history — NVII has compounded at 60.64% a year versus 46.45% for NVDY. NVDY has been the steadier holding, though — annualized volatility of 30.3% against 38.3% for NVII. 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.
Symbol	YTD cumulative	1Y cumulative	Since May 2025	Volatility	Sharpe	Sortino	Max drawdown
NVDY	21.85%	25.47%	46.45%	30.3%	0.60	0.86	-15.3%
NVII	27.47%	28.05%	60.64%	38.3%	0.53	0.74	-18.6%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of October 2, 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 May 2025” measures every fund from May 28, 2025 — 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.

Distribution rate, SEC yield and return of capital

Metric	NVDY	NVII
Forward distribution rate	35.42%	26.82%
Trailing 12-month yield	54.96%	50.82%
30-day SEC yield	2.53%	2.57%
Return of capital	93.24%	96.30%

Total return (price change plus reinvested distributions) is the Total returns section above. Return of capital is the share of a recent distribution that was not income. A 30-day SEC yield can sit far from the headline distribution rate; both numbers are the fund's own published fields.

Total return against the stated underlying is on NVDY vs NVDA, NVII vs NVDA.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
Metric	NVDY	NVII
Full name	YieldMax NVDA Option Income Strategy ETF	REX NVDA Growth & Income ETF
Issuer	YieldMax	REX Shares
Last Close	$12.83 as of October 2, 2026	$25.48 as of October 2, 2026
Distribution rate	35.42%	26.82%
Trailing 12-month yield	54.96%	50.82%
30-day SEC yield	2.53%	2.57%
Distribution Safety Score™	56	49
Safety-Adjusted Yield	19.84%	13.14%
Expense ratio	1.09%	1.49%
AUM	$1.40B	$125M
Distribution frequency	Weekly	Weekly
Underlying index	NVIDIA (NVDA)	NVIDIA (NVDA)
Objective	YieldMax NVDA Option Income Strategy ETF seeks current income while providing indirect exposure to the share price returns of NVIDIA Corporation common stock, subject to a limit on potential investment gains. The fund does not invest directly in NVIDIA Corporation; it uses a synthetic covered call strategy built from standardized exchange-traded options.	Seeks weekly distributions and daily NVIDIA exposure between 105% and 150% of NVDA's daily percentage change, before fees and expenses, with a covered-call strategy.
Asset class	Equity	Equity
Inception date	05/09/2023	05/28/2025
Beta	1.43	1.8933
Last dividend	$0.0874 payable today	$0.1314
Ex-dividend date	10/01/2026	09/29/2026

Bottom lineChoose NVDY if you want to maximize current income — roughly 35.42%, generated by selling options premium. Choose NVII if you are comfortable trading away most upside for a large, steady payout. NVDY and NVII 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. NVDY and NVII generate 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.
Daily leverage reset. NVII targets a multiple of the index's DAILY move, resetting every session. Over weeks and months the compounding of daily resets (volatility decay) can drag returns far below the stated multiple, especially in choppy markets — and losses are magnified the same way gains are.

Learn the mechanics: Return of capital, explained · NAV erosion, explained · Why daily-reset leverage decays

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Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

YieldMax

ETFs62

Total AUM$10.1B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

YieldMax is known for specializing in options-based and income-focused ETFs that emphasize yield generation through covered call strategies and other income-producing methodologies. The firm operates a diverse lineup of 63 funds organized across multiple families including covered call strategies, 0DTE (zero days to expiration) options, double distribution approaches, and various target-date and performance-based portfolios designed to generate regular distributions. Notable offerings span popular underlying assets like major technology stocks and broad market indices, with a particular emphasis on providing enhanced income solutions for investors seeking regular cash flows through options strategies and other tactical approaches.

See our curated list of related YouTube videos on NVDY.

See all YieldMax ETFs

REX Shares

ETFs74

Total AUM$17.0B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

REX Shares is known for specializing in options-based and thematic ETF strategies, offering 23 funds organized across distinct families including Covered Call, IncomeMax Option Strategy, and MicroSectors products. The fund lineup emphasizes income generation through option strategies and sector-specific exposure, with holdings spanning technology, commodities, and alternative assets. REX Shares targets investors seeking non-traditional income approaches and concentrated sector bets, positioning itself in a niche segment focused on structured strategies rather than broad market indexing.

See our curated list of related YouTube videos on NVII.

See all REX Shares ETFs

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Quick verdict

NVDY (YieldMax NVDA Option Income Strategy ETF) and NVII (REX NVDA Growth & Income ETF) are both weekly-pay dividend ETFs, but they take different approaches.

NVDY offers the higher yield at 35.42% vs 26.82% for NVII. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

NVDY is cheaper with an expense ratio of 1.09% compared to 1.49%.

NVDY is the larger fund by assets ($1.40B), but assets alone do not establish trading costs or liquidity.

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Deep dive

Yield & income

On a $10,000 investment, NVDY would generate roughly $68.12 cash per distribution, while NVII would produce $51.58 cash per distribution, at current distribution rates. Both pay weekly distributions.

NVDY yield35.42%

NVII yield26.82%

Cash diff on $10K$16.54

Cost & efficiency

Over 10 years on $10,000, NVDY would cost approximately $1,090 in fees vs $1,490 for NVII (simplified, not compounded). The $400.00 difference may be offset by yield or performance.

NVDY ER1.09%

NVII ER1.49%

Strategy & risk

Both NVDY and NVII wrap NVIDIA (NVDA) with options-based income overlays (covered call and options). The practical differences are yield target, fee structure, and issuer track record — not the underlying mechanic. Beta is 1.43 for NVDY and 1.8933 for NVII, making NVDY the less volatile of the two by this measure.

NVDY beta1.43

NVII beta1.8933

Fund details

NVDY is managed by YieldMax (launched 05/09/2023) with $1.40B in assets. NVII is managed by REX Shares (launched 05/28/2025) with $125M in assets.

NVDY AUM$1.40B

NVII AUM$125M

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Frequently asked questions

What is the current distribution rate for NVDY and NVII?

NVDY currently distributes 35.42% and NVII 26.82%, based on fund data updated October 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is NVDY or NVII better for dividend income?

It depends on your goals. NVDY 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 NVDY and NVII?

Both NVDY (YieldMax NVDA Option Income Strategy ETF) and NVII (REX NVDA Growth & Income ETF) track NVIDIA (NVDA) with options-based income strategies — the labels "covered call" and "options" describe closely related mechanics (covered calls are a specific type of options strategy). The real differences show up in yield target (35.42% vs 26.82%), expense ratio (1.09% vs 1.49%), and issuer (YieldMax vs REX Shares).

Can I hold both NVDY and NVII?

You can, but expect significant overlap. Both funds use options-based income strategies on NVIDIA (NVDA), so holding them together gives you two wrappers around effectively the same exposure — not true diversification. Weigh issuer, fee, and yield differences rather than treating them as complementary.

Is NVDY or NVII safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — NVDY scores 56, NVII scores 49, so NVDY's payout currently looks the more resilient of the two. NVDY has also shown lower price volatility (beta 1.43 vs 1.89 for NVII). 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, NVDY or NVII?

NVDY has an expense ratio of 1.09% while NVII charges 1.49%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in NVDY vs NVII generate?

At current rates, $10,000 in NVDY would generate roughly $68.12 cash per distribution ($3,542.00 annually). The same in NVII would produce about $51.58 cash per distribution ($2,682.00 annually).

Which has performed better historically, NVDY or NVII?

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Dividend dates and history

NVDY vs NVII — at a glance

Generated October 4, 2026.

Overview

NVDY and NVII are both single-asset ETFs that use synthetic covered call strategies to generate weekly income from NVIDIA exposure. The key difference: NVDY caps your upside but lets you track NVIDIA directly, while NVII amplifies NVIDIA's daily moves (targeting 105–150% beta) in exchange for that price ceiling. Both are highly specialized tools for extracting income from a single stock with derivative overlays, not core equity holdings.

How they differ

NVDY pursues pure income from covered calls with a cap on gains; NVII layers in daily leverage (a 1.8933 beta versus NVDY's 1.43) designed to amplify NVIDIA's moves while also selling calls. That leverage makes NVII riskier on the downside and more volatile on the upside. NVDY's distribution rate is 35.42% versus 26.82% for NVII—NVDY yields nearly 850 basis points more, reflecting its stricter call-selling discipline. NVDY is 1278548646 larger in assets, and its expense ratio of 1.09% beats NVII's 1.49% by 40 basis points. NVII arrived much later (inception 05/28/2025 versus 05/09/2023) and has a short operating history in which to validate its leverage and income mechanics.

NVII: Designed for those seeking leverage to NVIDIA's daily directional moves alongside call-funded distributions, and who can tolerate both amplified downside swings and the added complexity of daily rebalancing in a newer, smaller fund.

Key risks to know

NAV erosion at extreme yields. NVDY's 35.42% distribution rate leaves little room for price appreciation before underlying NVIDIA gains are wholly exhausted by payouts.

Covered-call cap on upside. Both funds give up large moves in NVIDIA. If NVIDIA rallies sharply, your call obligations force you to forfeit gains above the strike. This is a structural cost, not a feature.

Leverage and daily rebalancing drift in NVII. NVII targets 105–150% daily beta through derivatives. Holding periods longer than days can cause path-dependent slippage between the fund's leverage target and realized returns, especially in choppy or sideways markets.

Single-stock concentration and options decay. Both funds tie returns entirely to NVIDIA and rely on option pricing models; elevated realized volatility or rapid NVIDIA moves can cause option valuations to swing sharply, and time decay may compress returns if NVIDIA consolidates.

Short track record for NVII. NVII inception is 05/28/2025, giving it minimal history to demonstrate how the leverage mechanics and call overlay function across a full market cycle.

Bottom line

If you want aggressive income from NVIDIA and accept that principal erosion is the cost, NVDY's higher yield and larger asset base offer a more established framework. If you prioritize upside participation and can handle amplified daily volatility, NVII's leverage is designed to compensate—but its newer launch and smaller fund size mean less operational history to lean on. Both extract income from options at the expense of capital preservation; neither is suitable for buy-and-hold wealth building. 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.

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The metrics behind this comparison, explained in the Academy.

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These comparisons follow the Dividend Vision methodology.