EFAA vs MAGY

EFAAAInvesco MSCI EAFE Income Advantage ETF

MAGYDRoundhill Magnificent Seven Covered Call ETF

In short

EFAA An MSCI EAFE index core with an option-income overlay running on only about half the portfolio, so the rest keeps its upside uncapped. The fee is 0.39% net of a waiver through August 31, 2027, below the typical option-income fund.

MAGY The Magnificent Seven with a weekly options sleeve: MAGY owns Roundhill's equal-weight seven-stock fund and sells calls against it for income, at 0.99% net of a waiver through April 30, 2028.

Stated mandate

EFAA The fund seeks total return through current income and long-term capital growth while providing MSCI EAFE exposure through an active option-income overlay intended to generate income and help mitigate downside risk.

MAGY The Fund's primary objective is current income, with a secondary objective of gaining exposure to the return of the Roundhill Magnificent Seven ETF.

Why people hold it

• EFAA Half-and-half by design: covered calls and cash-secured puts run on roughly 50% of the book; the rest tracks the index. Premiums fund the monthly distributions.invesco.com
• 0.39% net of a waiver through August 31, 2027 (0.42% gross), below the category median and under HOLA, the other fund on this MSCI EAFE index, at 0.68%.
• Developed-market international is thin ground here: most option-income peers wrap US large caps or bonds. Roughly 700 holdings across Europe, Japan and the Pacific.
• One of the stronger builds in its peer group, with index-based equity exposure rather than a stock-picked substitute.

• MAGY Buys MAGS, the equal-weight basket of all seven mega caps rebalanced quarterly, then writes calls on that one ticker instead of juggling seven single-stock overlays.roundhillinvestments.comroundhillinvestments.com 2
• Calls are sold out of the money, so the basket has room to rise to the strike before gains are capped. Premium goes out as weekly distributions.roundhillinvestments.comroundhillinvestments.com 2
• The fee is waived from a 1.19% gross rate to 0.99% through April 30, 2028, a long runway for a fund that launched in 2025.

Worth knowing

• EFAA Calls cap gains on the overlaid half when markets run; cash-secured puts collect premium that cushions declines but does not stop losses.invesco.com
• Option premiums move with volatility, so monthly payouts vary rather than arrive at a fixed amount.
• Launched in 2024, so the live record is short, and it trades in smaller size than the headline US covered-call names.

• MAGY That 0.99% sits above the median of its 25-fund options-income group; KNG charges 0.74% and EFAA 0.39% net of a waiver through August 31, 2027.
• Seven stocks, non-diversified. The overlay trims upside above the strike while the basket's drawdowns still flow through to you.roundhillinvestments.com
• Young (April 2025) and among the thinner-traded names in its category, which lands in the lower half of that peer set. Limit orders earn their keep.

Full EFAA profile⁠

Full MAGY profile⁠