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How to read Dist. coverage on CoverCall Ledger
Walkthrough of Covered vs percentage vs tape-only labels, preview unlock, and which table columns are not Dist. coverage.
Learn · Canada + US
Covered-call & income ETF guides
Yield tells you the size of the cheque. Dist. coverage asks whether issuer financial statements supported what was paid — for Canadian and US-listed covered-call and option-income ETFs.
Where do I start?
Read one of these, then open the coverage table or a fund page. Flagship comparisons: HMAX vs ZWB vs HDIV and JEPI vs JEPQ vs QYLD.
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What is distribution coverage?
Dist. coverage asks whether issuer filings supported ETF distributions for a stated year — earned vs paid, not yield. Mapped examples: HHIS, HMAX, ZWB, JEPI.
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Distribution coverage vs distribution yield
Yield is the size of the cheque vs price. Dist. coverage asks whether issuer filings supported it. Why high yield and weak coverage can coexist.
Basics
Basics
What is distribution coverage?
Dist. coverage asks whether issuer filings supported ETF distributions for a stated year — earned vs paid, not yield. Mapped examples: HHIS, HMAX, ZWB, JEPI.
Basics
What is a covered call ETF?
Plain-language guide to covered-call and buy-write ETFs in Canada and the US — how they work, trade-offs, and examples like HMAX, ZWB, QQCL, JEPI, and QYLD.
Basics
Distribution coverage vs distribution yield
Yield is the size of the cheque vs price. Dist. coverage asks whether issuer filings supported it. Why high yield and weak coverage can coexist.
Basics
How to read Dist. coverage on CoverCall Ledger
Walkthrough of Covered vs percentage vs tape-only labels, preview unlock, and which table columns are not Dist. coverage.
Basics
How to read an MRFP for distribution coverage
Educational checklist for finding earned vs paid in Canadian MRFPs and US N-CSR reports — the same lens CoverCall Ledger maps.
Comparisons
Comparisons
HMAX vs ZWB vs HDIV: Canadian financials income ETFs
Compare Hamilton HMAX, BMO ZWB, and Hamilton HDIV — strategy focus and mapped 2025 Dist. coverage (all Covered on the accrual lens, with different mandates).
Comparisons
JEPI vs JEPQ vs QYLD: US option-income coverage
Compare JEPI, JEPQ, and QYLD on mapped Dist. coverage — 96%, 88%, and 73% for their respective fiscal periods — not a yield leaderboard.
Comparisons
QQCL vs QYLD: Canada vs US Nasdaq covered call
QQCL (Canada, enhanced Nasdaq-100 covered call) vs QYLD (US Nasdaq-100 covered call) — listings, overlays, and mapped Dist. coverage.
Issuers
Issuers
Hamilton vs BMO vs Harvest: Canadian covered-call issuers
How three major Canadian issuers run covered-call and income ETF lineups — product philosophy, representative funds, and mapped Dist. coverage links.
Issuers
NEOS ETFs: did SPYI, QQQI and the lineup earn the cheque?
Mapped 2025 filings for 16 NEOS ETFs: 10 covered distributions, median 100%. What SPYI, QQQI and BTCI earned vs paid — and why that isn't the ROC question.
Issuers
Global X covered call ETFs: did the same-index twins earn the cheque?
Mapped 2025 filings for Global X CA vs US twins: QQCC/QYLD, USCC/XYLD, RSCC/RYLD. Dist. coverage from statements — not yield.
Insights
Insights
Return of capital vs “earned the cheque”
ROC is a tax label for distributions. Dist. coverage is accrual earned vs paid from filings. They sound related but answer different questions — not tax advice.
Insights
What is a YieldMax / single-stock option-income ETF?
What single-stock option-income ETFs are, and what mapped 2025 filings show: 3 of 34 YieldMax funds covered distributions, median near 46%.
Insights
High yield covered call ETF Canada: start with coverage
Mapped 2025 filings for 94 Canadian option-income ETFs: two-thirds covered distributions, while bond overlays and crypto-linked funds fell short.
Insights
Enhanced covered call ETFs: does 25% leverage break coverage?
Fifteen Canadian ETF pairs where the only difference is about 25% leverage. What mapped 2025 filings show for enhanced vs standard Dist. coverage.
Insights
Bitcoin covered call ETFs: did they earn the cheque?
Mapped 2025 filings for 10 bitcoin overlay ETFs: none Covered. Dist. coverage from statements — not yield or ROC estimates.
Insights
0DTE income ETFs: does writing calls every day cover the cheque?
Nine mapped 0DTE and weekly-writing ETFs, none Covered for 2025. What filings show when the same index is written daily instead of monthly.
Not investment advice. Confirm figures against issuer documents.