ETF Comparison

QDVO vs QQQI: Which Is the Better Pick in 2026?

A head-to-head comparison of Amplify CWP Growth & Income ETF and NEOS Nasdaq-100 High Income ETF covering yield, cost, risk, and income potential.

Updated October 2, 2026

How these figures are calculated: methodology.

Best for

QDVOInvestors who want a covered-call overwrite written on the holdings themselves.
QQQIInvestors who want index call spreads structured for Section 1256 tax treatment.

Jump to the side-by-side numbers

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.

QDVO has lagged QQQI over the trailing twelve months, posting a 14.87% total return against 18.72%. Measured from Aug 2024 — the start of shared available history — QDVO has compounded at 21.29% a year versus 21.07% for QQQI. QDVO has been the steadier holding, though — annualized volatility of 13.4% against 16.7% for QQQI. 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 Aug 2024	Volatility	Sharpe	Sortino	Max drawdown
QDVO	11.73%	14.87%	21.29%	13.4%	0.70	1.02	-10.2%
QQQI	15.96%	18.72%	21.07%	16.7%	0.76	1.08	-9.6%

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 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.

Distribution rate and SEC yield

Metric	QDVO	QQQI
Forward distribution rate	11.07%	13.56%
Trailing 12-month yield	10.43%	13.63%
30-day SEC yield	—	-0.05%

Total return (price change plus reinvested distributions) is the Total returns section above. 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 QQQI vs QQQ.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
Metric	QDVO	QQQI
Full name	Amplify CWP Growth & Income ETF	NEOS Nasdaq-100 High Income ETF
Issuer	Amplify ETFs	NEOS
Underlying index	U.S. large-cap value / dividend equities with a covered call overlay	Nasdaq-100
Last Close	$30.21 as of October 2, 2026	$56.08 as of October 2, 2026
Distribution rate	11.07%	13.56%
Trailing 12-month yield	10.43%	13.63%
30-day SEC yield	—	-0.05%
Distribution Safety Score™	84	84
Safety-Adjusted Yield	9.30%	11.39%
Expense ratio	0.56%	0.68%
AUM	$779M	$15.0B
Distribution frequency	Monthly	Monthly
Objective	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.	Seeks to generate high monthly income in a tax efficient manner while targeting equity appreciation.
Asset class	Equity	Equity
Inception date	08/21/2024	01/29/2024
Beta	0.9338	1.0553
Last dividend	$0.27866	$0.6339
Ex-dividend date	09/29/2026	09/16/2026

Bottom lineChoose QDVO if you want a covered-call overwrite written on the holdings themselves. Choose QQQI if you want index call spreads structured for Section 1256 tax treatment. QDVO and QQQI 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 and QQQI 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.

Learn the mechanics: Return of capital, explained · NAV erosion, explained

Model this comparison:

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Income calculator

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

Amplify ETFs

ETFs46

Total AUM$16.7B

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 QDVO.

See all Amplify ETFs ETFs

NEOS

ETFs19

Total AUM$34.7B

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

NEOS is known for developing specialized income-focused ETFs that employ strategies like covered calls, hedging, and enhanced yields across various asset classes. The firm manages 19 funds organized into nine distinct families, including offerings in equity high income, fixed income enhancement, digital assets, and alternative strategies, with popular tickers like SPYI (S&P 500 covered call), QQQI (Nasdaq-100 covered call), and QQQH (Nasdaq-100 hedged equity income). NEOS distinguishes itself in the ETF landscape through its emphasis on income generation and downside protection strategies rather than traditional growth approaches.

See our curated list of related YouTube videos on QQQI.

See all NEOS ETFs

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Quick verdict

QDVO (Amplify CWP Growth & Income ETF) and QQQI (NEOS Nasdaq-100 High Income ETF) are both monthly-pay dividend ETFs, but they take different approaches.

QQQI offers the higher yield at 13.56% vs 11.07% for QDVO. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

QDVO is cheaper with an expense ratio of 0.56% compared to 0.68%.

They have different reference exposures: QDVO is linked to U.S. large-cap value / dividend equities with a covered call overlay while QQQI is linked to Nasdaq-100, which means their performance drivers differ.

QQQI is the larger fund by assets ($15.0B), but assets alone do not establish trading costs or liquidity.

Who should choose each?

Choose QDVO

Amplify CWP Growth & Income ETF

Want a covered-call overwrite on the stocks the fund holds.
Are comfortable with an options-income strategy — a large payout in exchange for capped upside.
Want to keep costs low — a 0.56% expense ratio vs 0.68% for QQQI.

Choose QQQI

NEOS Nasdaq-100 High Income ETF

Want index call spreads structured for Section 1256 tax treatment.
Want to maximize current income — QQQI distributes roughly 13.56% from selling options premium, vs 11.07% for QDVO.
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.

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Deep dive

Yield & income

On a $10,000 investment, QDVO would generate roughly $92.25 cash per distribution, while QQQI would produce $113.00 cash per distribution, at current distribution rates. Both pay monthly distributions.

QDVO yield11.07%

QQQI yield13.56%

Cash diff on $10K$20.75

Cost & efficiency

Over 10 years on $10,000, QDVO would cost approximately $560 in fees vs $680 for QQQI (simplified, not compounded). The $120.00 difference may be offset by yield or performance.

QDVO ER0.56%

QQQI ER0.68%

Strategy & risk

QDVO tracks U.S. large-cap value / dividend equities with a covered call overlay with an options approach, while QQQI is actively managed around Nasdaq-100 exposure with an active approach. Beta is 0.9338 for QDVO and 1.0553 for QQQI, making QDVO the less volatile of the two by this measure.

QDVO beta0.9338

QQQI beta1.0553

Fund details

QDVO is managed by Amplify ETFs (launched 08/21/2024) with $779M in assets. QQQI is managed by NEOS (launched 01/29/2024) with $15.0B in assets.

QDVO AUM$779M

QQQI AUM$15.0B

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Frequently asked questions

What is the current distribution rate for QDVO and QQQI?

QDVO currently distributes 11.07% and QQQI 13.56%, 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 QDVO or QQQI better for dividend income?

It depends on your goals. QQQI 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 QDVO and QQQI?

QDVO (Amplify CWP Growth & Income ETF) tracks U.S. large-cap value / dividend equities with a covered call overlay with an options approach, while QQQI (NEOS Nasdaq-100 High Income ETF) is actively managed around Nasdaq-100 exposure with an active approach. They are issued by Amplify ETFs and NEOS respectively.

Can I hold both QDVO and QQQI?

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 QDVO or QQQI safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — they are effectively tied: QDVO scores 84, QQQI scores 84. Neither has a clear safety edge on that measure. 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, QDVO or QQQI?

QDVO has an expense ratio of 0.56% while QQQI charges 0.68%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in QDVO vs QQQI generate?

At current rates, $10,000 in QDVO would generate roughly $92.25 cash per distribution ($1,107.00 annually). The same in QQQI would produce about $113.00 cash per distribution ($1,356.00 annually).

Which has performed better historically, QDVO or QQQI?

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Dividend dates and history

QDVO vs QQQI — at a glance

Generated October 3, 2026.

Figures quoted in this analysis are from its generation date and may lag the live snapshot table above, which always shows the latest data.

Overview

QDVO and QQQI are both actively managed equity ETFs using options overlays to generate high monthly income, but they target different underlying universes. QDVO invests in large-cap U.S. dividend-paying stocks and writes covered calls against them, while QQQI focuses on the Nasdaq-100 index using a derivative strategy designed for tax efficiency. Both distribute at yields well above the broad market, but they differ in asset base, underlying exposure, and income source.

How they differ

The biggest difference is their equity foundation: QDVO selects dividend-paying large-cap value stocks, while QQQI tracks the Nasdaq-100, which is tech-heavy and includes many non-dividend payers. That's a structural shift—QDVO's income comes partly from underlying dividends plus covered call premiums, whereas QQQI's high yield is driven primarily by the options strategy itself.

QQQI's distribution rate of 13.56% significantly exceeds QDVO's 11.07%, reflecting the more aggressive synthetic-income approach baked into the Nasdaq exposure. QQQI is also much larger, with $15.0B in assets versus QDVO's $779M, and has a modestly higher expense ratio: 0.68% versus 0.56%.

Beta reveals risk profile: QDVO's 0.9338 beta sits below 1, signaling lower volatility than the broad market, while QQQI's 1.0553 beta exceeds 1, amplifying Nasdaq swings. QDVO launched 2 years ago; QQQI is newer, having started 2 years ago.

Who each is best for

QDVO: Fits investors seeking dividend income enhanced by covered-call premium, with lower volatility tolerance and preference for value-oriented large-cap exposure over growth stocks.

QQQI: Fits investors comfortable with Nasdaq-100 concentration and willing to accept higher price swings in exchange for more aggressive yield, drawn to tech and growth sectors. QDVO's 11.07% yield is also elevated but more grounded in actual dividend yield plus call premium.

Covered call cap on upside. Both funds sacrifice capital gains above their call strike prices each month. In a sharp market rally, especially in tech, QQQI holders will underperform uncapped Nasdaq-100 exposure; QDVO holders face similar limits tied to dividend stock strength.

Nasdaq concentration and tech beta. QQQI's 1.0553 beta and Nasdaq-100 mandate expose it to sector rotation risk and the risk that tech valuations contract, pulling the index down faster than broad markets. QDVO's dividend-stock focus provides some shelter but is still equity-market-correlated.

Options liquidity and skew. Both strategies depend on selling call premiums at prices that reflect current implied volatility. If options markets widen spreads or vol compression erodes premiums, monthly income can decline materially. This is especially acute for QQQI given the Nasdaq-100's outsized option volume and skew sensitivity.

Short track record. Both funds are under a year old; QDVO launched 08/21/2024 and QQQI 01/29/2024. There is no history of how they perform during a sustained market downturn, credit stress, or volatility spike.

Bottom line

If you value lower volatility and a more balanced income mix from dividends plus call premiums, QDVO's large-cap dividend approach stands out; if you're chasing maximum yield and comfortable with Nasdaq-100 concentration and upside caps, QQQI's synthetic-income strategy offers higher cash flow. Both carry NAV erosion risk at their current yields and neither has proven performance through a full market cycle. 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.