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CHPY vs LQDW

YieldMax Semiconductor Portfolio Option Income ETF

CHPYCNYSE Arca

iShares Investment Grade Corporate Bond BuyWrite Strategy ETF

LQDWACboe

Overlap

Expense ratio

LQDW −0.69pt a year

CHPY1.03%LQDW0.34%

Avg volume · 30D

CHPY 6.5×the volume

CHPY697KLQDW107K

CHPY vs LQDW Performance

Oct 31, 2025 – Nov 2, 2026

+40.4%CHPY+1.8%LQDW

Oct 31, 2025 to Nov 2, 2026. CHPY +40.4%. LQDW +1.8%. Use the arrow keys to read each point.20%60%80%100%Oct 2025May 2026Nov 2026
Expense ratio
CHPY 1.03%
LQDW 0.34%, better
Fund size
CHPY $1.25B
LQDW $353M
1Y total return
CHPY +40.4%, better
LQDW +1.8%
Yield (12M)
CHPY 50.57%, better
LQDW 12.41%
Holdings
CHPY 58
LQDW 3192
Avg volume (30D)
CHPY 697K sh, better
LQDW 107K sh
NAV per share
CHPY $56.65
LQDW $22.87
52W range

ETF.net Grade

CHPY: Cost 19, Risk 32, Mission not scored, Tradability 80, Holdings 72, Durability 65. LQDW: Cost 100, Risk 66, Mission 94, Tradability 78, Holdings 100, Durability 82.
Pillar letters and Scores for CHPY, LQDW, with each pillar’s weight
PillarCHPYLQDW
Cost30% weightF19A100Higher
Mission25% weightNot scoredA94
Risk15% weightD32B66Higher
Tradability15% weightA80HigherA78
Holdings10% weightA72A100Higher
Durability5% weightB65A82Higher

Rank among Index Option Income funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. CHPY and LQDW are both graded against the same 25 Index Option Income funds, so their Grades compare head to head.

Index Option Income⁠

Category · 25 funds
See all 25 ›

LQDW ranks 1st and CHPY 15th of 25 funds in the Index Option Income Category.

  1. Rank 1ALQDWiShares Investment Grade Corporate Bond BuyWrite Strategy ETFScore 87
  2. Rank 2AEFAAInvesco MSCI EAFE Income Advantage ETFScore 78
  3. Rank 14COVFOverlay Shares Foreign Equity ETFScore 47
  4. Rank 15CCHPYYieldMax Semiconductor Portfolio Option Income ETFScore 44
  5. Rank 16COVSOverlay Shares Small Cap Equity ETFScore 43

Our read on each fund

ETF.net Research

CHPYCYieldMax Semiconductor Portfolio Option Income ETF

LQDWAiShares Investment Grade Corporate Bond BuyWrite Strategy ETF

In short

CHPY Semiconductors, run for cash flow. CHPY holds a focused basket of US-listed chip stocks and sells options against them, turning one of the market's twitchiest sectors into option premiums and a monthly distribution schedule.

LQDW Covered calls, but on bonds. LQDW owns iShares' flagship investment-grade corporate bond fund and writes monthly calls against it, paying distributions monthly, at less than half the option-income cohort's median fee.

Stated mandate

CHPY The Fund seeks current income, cash distributions, and capital appreciation. It uses a focused portfolio of U.S.-listed semiconductor equities together with options strategies intended to generate premiums.

LQDW The fund seeks to track a strategy holding LQD while writing monthly covered calls to generate income.

Why people hold it

  • CHPY Owns the chips rather than a stand-in: a focused portfolio of US-listed semiconductor equities with options written against it, so income leans on a sector instead of one name.yieldmaxetfs.com
  • Pays monthly, and the mandate names capital appreciation alongside income, so the stock leg stays in play rather than being fully traded away for premium.
  • Actively managed, actively traded, and past the billion-dollar mark since its 2025 launch, so getting in and out is rarely the hard part.
  • LQDW At 0.34%, it undercuts the typical option-income fund by well over half (cohort median 0.75%), so less of the premium collected leaks out as fees.
  • One ticker buys the whole trade: shares of LQD plus a rules-based monthly call overlay. No options approval, no roll dates to babysit.ishares.com
  • A thin niche. Most option-income funds write calls on stock baskets; this one sits on investment-grade corporate credit instead.
  • Distributions land monthly, and since its 2022 launch the fund has stuck closely to its stated strategy, among the tighter implementations in its peer group.

Worth knowing

  • CHPY At 1.03% a year, it runs above the 0.75% typical of option-income peers, and top-graded ones like LQDW (0.34%) and YLDE (0.47%) charge a fraction of that.
  • Writing calls on semis swaps part of the sector's biggest up-moves for premium, and the size of each payout tracks what the options market is paying that month.
  • Launched in 2025, so it has not yet traded through a full chip cycle. Semiconductor drawdowns run deep, and an options overlay only cushions so much.
  • LQDW Written calls cap the upside. If corporate bonds rally hard, the premium collected is the consolation for price gains handed to the call buyer.
  • Premium cushions, it does not shield. Widening credit spreads or rising rates still hit the underlying bond portfolio.
  • Mid-sized and moderately traded rather than a giant, so spreads can run wider than in the biggest option-income names, especially in fast markets.

Full CHPY profile⁠

Full LQDW profile⁠

CHPY vs LQDW Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

CHPY vs LQDW Cost

Overpaying CHPY vs LQDW

$12,241

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • CHPY 1.03%

    $19,173

  • LQDW 0.34%

    $6,932

$10,000
30 years

Cost over time

  • CHPY 1.03%
  • LQDW 0.34%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530CHPY $19,173LQDW $6,932

Year by year

YearCHPYLQDWOverpaying
10$1,814$616$1,198
20$6,807$2,386$4,421
30$19,173$6,932$12,241

Expense ratio

  • 1.03%CHPY
  • 0.34%LQDW, cheaper
  • Middle half of Index Option Income funds
  • Median 0.81%

LQDW cheapest of 25 funds

CHPY 20th cheapest of 25 funds

CHPY vs LQDW Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
CHPY 50.57%, better
LQDW 12.41%
Payout (12M)
CHPY $27.65
LQDW $2.83
Last payment
CHPY $0.46
LQDW $0.38
Ex-dividend
CHPY Oct 28, 2026
LQDW Oct 2, 2026
Paid on
CHPY Oct 29, 2026
LQDW Oct 7, 2026
Frequency
CHPY Weekly
LQDW Monthly

Distribution history

Per share, 2026, same scale for both

CHPYWeekly · 43 paymentsAll CHPY payments⁠
One bar per payment. 43 payments in 2026 YTD. Jan 7, 2026 $0.50; Jan 14, 2026 $0.52; Jan 21, 2026 $0.53; Jan 28, 2026 $0.48; Feb 4, 2026 $0.53; Feb 11, 2026 $0.53; Feb 18, 2026 $0.53; Feb 25, 2026 $0.47; Mar 4, 2026 $0.46; Mar 11, 2026 $0.44; Mar 18, 2026 $0.39; Mar 25, 2026 $0.49; Apr 1, 2026 $0.41; Apr 8, 2026 $0.44; Apr 15, 2026 $0.54; Apr 22, 2026 $0.50; Apr 29, 2026 $0.60; May 6, 2026 $0.60; May 13, 2026 $0.66; May 20, 2026 $0.64; May 27, 2026 $0.67; Jun 3, 2026 $0.71; Jun 10, 2026 $0.62; Jun 17, 2026 $0.76; Jun 24, 2026 $0.78; Jul 1, 2026 $0.67; Jul 8, 2026 $0.63; Jul 15, 2026 $0.59; Jul 22, 2026 $0.55; Jul 29, 2026 $0.54; Aug 5, 2026 $0.53; Aug 12, 2026 $0.55; Aug 19, 2026 $0.57; Aug 26, 2026 $0.52; Sep 2, 2026 $0.51; Sep 9, 2026 $0.52; Sep 16, 2026 $0.74; Sep 23, 2026 $0.53; Sep 30, 2026 $0.54; Oct 7, 2026 $0.58; Oct 14, 2026 $0.51; Oct 21, 2026 $0.47; Oct 28, 2026 $0.46. Use the arrow keys to read each point.$0$0.502026YTD
LQDWMonthly · 9 paymentsAll LQDW payments⁠
One bar per payment. 9 payments in 2026 YTD. Feb 3, 2026 $0.22; Mar 3, 2026 $0.16; Apr 2, 2026 $0.30; May 4, 2026 $0.17; Jun 2, 2026 $0.18; Jul 2, 2026 $0.19; Aug 4, 2026 $0.20; Sep 2, 2026 $0.15; Oct 2, 2026 $0.38. Use the arrow keys to read each point.$0$0.502026YTD

CHPY vs LQDW Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
CHPY 40.7%since May 2025LQDW 4.2%
Return per unit of riskSharpe ratio, 3 years
CHPY 1.41since May 2025LQDW 0.16
Worst fallMax drawdown, 5 years
CHPY −28.7%since Apr 2025LQDW −9.2%since Aug 2022
Market sensitivityBeta, 5 years
CHPY 1.95LQDW 0.59

CHPY and LQDW in the news

All news⁠

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