Best Nasdaq Covered Call ETFs of 2026
Nasdaq covered call ETFs are built around the Nasdaq-100, the large non-financial companies on the Nasdaq exchange, led by the big technology names. The index is more volatile than the S&P 500, which tends to mean richer option premiums and higher payouts.
The funds here share an index but not a strategy. Some write calls on the whole portfolio, others on only part of it to leave more room for growth, and some add leverage. Comparing total return, with distributions taken as cash or reinvested, over a few years shows how those choices have played out.
QQCL heads the 3 ranked funds at +9.48% so far in 2026, while JEPQ finishes at +6.74%. It has been a good year across the board here: all 3 funds are up.
Key Takeaways
- Top fund: QQCL, at +9.48% so far in 2026.
- The whole group sits within 2.7 percentage points of each other.
- With just 3 funds to choose from, the differences in strategy matter more than the ranking itself.
How All 3 Funds Ranked in 2026
1. QQCL: Global X Enhanced Nasdaq-100 Covered Call ETF
Leading the pack is QQCL, up 9.48% in total return this year. A 3.0% decline in the units has been more than covered by 12.5 percentage points from distributions. As for its options approach, it writes calls on roughly 40 to 50% of the portfolio, it uses about 25% leverage and it doesn't hedge, so the Canadian dollar's moves show up in the return. Currently it yields 15.82%, and its MER stands at 1.71%. Its family pairs each enhanced fund with an unlevered twin, so the gap between the two in any year mostly comes down to the extra 25% exposure and its cost.
2. QQCC: Global X Nasdaq-100 Covered Call ETF
The runner-up is QQCC, at +8.19%. Despite a 1.7% dip in its unit price, 9.9 percentage points of distributions leaves it ahead overall. At a 12.17% yield and an MER of 0.86%, the fund's design is simple: it writes calls on roughly 40 to 50% of the portfolio and its foreign currency exposure stays unhedged. How a fund in this line-up fares depends on three levers: what it holds, how much of it is under calls, and how far above the current price those calls are written. It also trades as QQCC.U in U.S. dollars.
3. JEPQ: JPMorgan Nasdaq Equity Premium Income Active ETF (Unhedged)
JEPQ trails the group at +6.74% so far in 2026. Payouts are doing all the work here, adding 9.7 percentage points against a 3.0% slide in the units. Yielding 12.60% with an MER of 0.39%, it is also worth knowing that it writes calls on about 20% of the portfolio and it leaves the currency side open rather than hedging back to Canadian dollars.
What to Watch in Nasdaq Funds
The Nasdaq-100 can rally hard, and that is when call coverage matters most. A fund writing calls on the whole portfolio can trail the index by a wide margin in a strong year, while one covering only part of it keeps more of the climb.
Check hedging too. Funds holding U.S. stocks without a currency hedge pick up the swing in the U.S. dollar, which can push two similar funds apart in the ranking.
How to Compare Them Yourself
Always compare on total return. Price return understates these funds, since the premiums they collect leave as distributions instead of lifting the unit price.
Look at the mix behind the number too. Two funds with the same total return can get there very differently, one through price gains and the other through distributions alone.
Round it out with costs and structure. A higher MER, more leverage or heavier call writing can each change how a fund behaves, and overlapping holdings can mean two funds are closer than their names suggest. Our Compare tool shows all of this for up to five funds at once.
All 3 Funds Ranked
Too new to rank this year: JPQH.
How We Rank
Our ranking uses total return for 2026. We start from each fund's last close of the previous year, December 31, 2025, and reinvest every distribution in more units when it's paid, which lands close to the performance fund managers report. Only the main Canadian-dollar units of each fund are ranked, and funds without a full year of history are listed separately.
Past returns don't predict future returns. This article is written automatically from market data and updated every trading day; it is for information only and is not investment advice. Check each provider's documents before investing.