A head-to-head comparison of VegaShares SPX NDX RTY Premium Income ETF and Defiance S&P 500 Income Target ETF covering yield, cost, risk, and income potential.
Data updated September 18, 2026
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.
ODTE has lagged SPYT over the shared window since Apr 2026, posting a 6.95% total return against 16.71%. 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 21, 2026. YTD and 1Y are cumulative; windows of one year or longer are annualized. “Since Apr 2026” measures every fund from April 6, 2026 — 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 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.
Side-by-side snapshot
Side-by-side snapshot. Each row is one metric;
each column is one fund.
Seeks weekly income by investing at least 80% of net assets in the constituents of the S&P 500, Nasdaq-100 and Russell 2000 indices, or instruments linked to them, alongside an options premium strategy.
Seeks current income with secondary exposure to the S&P 500 Index through a strategy of holding index ETFs while selling daily credit call spreads to generate a target annual income level of 20%.
Bottom lineWe won't call this one: ODTE launched April 2026, so there is not yet a track record to compare. Compare the strategy, cost and holdings in the sections above and treat any performance figures for the newer ETF as provisional.
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. ODTE and SPYT 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.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
VegaShares specializes in options-based and thematic ETFs designed to generate income and capitalize on emerging trends. The issuer's lineup spans income-focused strategies, including covered call funds, alongside thematic offerings that target specific market segments and innovation themes. VegaShares serves investors seeking alternative approaches to traditional equity exposure, with a concentrated portfolio of strategically named funds addressing both income generation and sector-specific growth opportunities.
See our curated list of related YouTube videos on ODTE.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Defiance ETFs is known for offering specialized and thematic investment strategies that cater to niche market segments and alternative income approaches. The issuer's lineup spans income-focused funds, leveraged strategies, combinations of leverage with income generation, and thematic products tied to emerging trends and sectors. Defiance emphasizes non-traditional and differentiated strategies rather than broad-based index exposure, appealing to investors seeking targeted exposure beyond conventional ETF offerings.
See our curated list of related YouTube videos on SPYT.
ODTE (VegaShares SPX NDX RTY Premium Income ETF) and SPYT (Defiance S&P 500 Income Target ETF) are both dividend ETFs, but they take different approaches.
SPYT offers the higher yield at 20.37% vs 14.14% for ODTE. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
ODTE is cheaper with an expense ratio of 0.76% compared to 0.92%.
They have different reference exposures: ODTE is linked to S&P 500, Nasdaq-100, Russell 2000 while SPYT is linked to S&P, which means their performance drivers differ.
SPYT has $162M in assets vs $2.75M for ODTE, but ODTE only launched April 2026 — AUM comparisons will become more meaningful as it builds a track record.
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On a $10,000 investment, ODTE would generate roughly $117.83/month, while SPYT would produce $169.75/month, at current distribution rates.
ODTE yield14.14%
SPYT yield20.37%
Monthly diff on $10K$51.92
Cost & efficiency
Over 10 years on $10,000, ODTE would cost approximately $760 in fees vs $920 for SPYT (simplified, not compounded). The $160.00 difference may be offset by yield or performance.
ODTE ER0.76%
SPYT ER0.92%
Strategy & risk
ODTE tracks S&P 500, Nasdaq-100, Russell 2000 with a covered call approach, while SPYT tracks S&P.
ODTE beta—
SPYT beta0.8938
Fund details
ODTE is managed by VegaShares (launched 04/03/2026) with $2.75M in assets. SPYT is managed by Defiance ETFs (launched 07/16/2024) with $162M in assets.
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Frequently asked questions
What is the current distribution rate for ODTE and SPYT?
ODTE currently distributes 14.14% and SPYT 20.37%, 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 ODTE or SPYT better for dividend income?
It depends on your goals. SPYT 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 ODTE and SPYT?
ODTE (VegaShares SPX NDX RTY Premium Income ETF) tracks S&P 500, Nasdaq-100, Russell 2000 with a covered call approach, while SPYT (Defiance S&P 500 Income Target ETF) tracks S&P. They are issued by VegaShares and Defiance ETFs respectively.
Can I hold both ODTE and SPYT?
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 ODTE or SPYT safer?
By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — SPYT scores 84, ODTE scores 50, so SPYT's payout currently looks the more resilient of the two. 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, ODTE or SPYT?
ODTE has an expense ratio of 0.76% while SPYT charges 0.92%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in ODTE vs SPYT generate?
At current rates, $10,000 in ODTE would generate roughly $117.83 per month ($1,414.00 annually). The same in SPYT would produce about $169.75 per month ($2,037.00 annually).
Which has performed better historically, ODTE or SPYT?
ODTE has lagged SPYT over the shared window since Apr 2026, posting a 6.95% total return against 16.71%. 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.
ODTE and SPYT are both equity ETFs that use options strategies to generate income beyond their underlying index holdings. That higher income target in SPYT comes from its use of credit spreads—a more capital-intensive options strategy—rather than ODTE's simpler covered call approach. SPYT's expense ratio sits at 0.92%, slightly higher than ODTE's 0.76%, though the difference narrows relative to SPYT's yield cushion.
Who each is best for
ODTE: Fits investors seeking a simpler weekly income stream backed by broad U.S. equity exposure across large-cap, mid-cap, and small-cap tiers, who are comfortable with frequent distributions and lower headline yield targets.
SPYT: Fits investors willing to tolerate higher distribution volatility in pursuit of a 20%+ target yield, who prefer monthly payout rhythm and can stomach the capital complexity of spread strategies; also suits those focused on pure large-cap equity exposure.
Key risks to know
NAV erosion at extreme distribution yields:SPYT's 20.37% target yield significantly exceeds the historical return of the S&P 500, suggesting the fund may rely on meaningful return-of-capital or capital depletion to meet its distribution goal. ODTE's 14.14% presents similar though less acute pressure; both funds should be monitored for consistent NAV decline over multi-year periods.
Options assignment and tail-risk gap: Both funds face unhedged downside during sharp market declines. A severe sell-off can force call assignments or spread losses faster than NAV adjusts, creating realized losses that distributions cannot immediately offset. SPYT's credit spreads add additional short gamma exposure during volatility spikes.
Early-stage performance track record:ODTE's inception date of 04/03/2026 and SPYT's 07/16/2024 mean both funds have traded through limited market regimes; neither has survived a full bear market cycle.
Weekly rebalance friction in ODTE: Selling and rolling options contracts every week compounds slippage and trading costs that may not be fully transparent in the published expense ratio, especially if underlying volatility spikes.
Bottom line
If you want diversified U.S. equity exposure with straightforward weekly income and lower headline yield, ODTE's simpler structure and three-index base offer that profile. Both carry material risks around principal erosion at their distribution levels, and neither has sufficient history to demonstrate sustainability through a complete market cycle.
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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