XYLD vs GPIX vs ISPY: We Compared 3 Ways to Sell Covered Calls on the S&P 500, and the Highest Yield Is Not the Best Deal

Three S&P 500 covered-call ETFs use the same underlying index but employ materially different option-income strategies, resulting in sharply divergent total returns. The article cautions that selecting a covered-call fund solely on its advertised yield can produce unexpected outcomes, underscoring the importance of evaluating strategy design and return trade-offs.