ODTE vs SIOO

ODTEDVegaShares SPX NDX RTY Premium Income ETF

SIOOAVistaShares Target 15 S&P 100 Distribution ETF

In short

ODTE One options overlay, three indexes: ODTE writes covered calls on the S&P 500, Nasdaq-100 and Russell 2000 to pull in premium while holding the underlying exposure underneath. Actively managed, income first, appreciation second.

SIOO Most equity-income ETFs pay out whatever the options market hands them. SIOO starts from the answer: a 15% annual income target, paid monthly, bolted onto an S&P 100 core using index options that carry 60/40 tax treatment.

Stated mandate

ODTE The Fund primarily seeks current income and secondarily capital appreciation. It is actively managed and uses covered calls on SPX, NDX, and RTY to generate weekly income while retaining longer-term exposure to those indexes.

SIOO The actively managed ETF seeks income and, secondarily, long-term capital appreciation. It combines equity exposure based on the S&P 100 Index (OEX) with an options portfolio intended to generate income.

Why people hold it

• ODTE Premium comes off three different benchmarks (S&P 500, Nasdaq-100, Russell 2000), so the income engine isn't wired to a single index's volatility.
• Actively managed: a manager sets the call writing rather than an index formula grinding through a fixed schedule.
• At 0.76%, the fee lands right around what option-income overlay funds typically charge.
• Ordinary 1940 Act fund wrapper, so the options work happens inside a standard ETF, no partnership K-1 to deal with.

• SIOO 0.59% expense ratio, below the 0.75% typical for options-income funds. Modest toll for an actively managed overlay.
• The overlay uses S&P 100 (OEX) index options, section 1256 contracts taxed at blended 60/40 rates, and the manager also hunts tax-loss harvesting in the equity sleeve.vistashares.com
• You keep the stocks. The equity sleeve generally mirrors the S&P 100's mega-cap roster, with the income machinery layered on top rather than replacing it.vistashares.com
• The payout target is stated up front: 15% a year, distributed monthly. A published yardstick you can hold the fund to, rather than a mystery yield.vistashares.com

Worth knowing

• ODTE Covered calls swap upside for premium. When the indexes rip, the written calls limit how much of that move the fund keeps.
• The fund discloses that payouts can include return of capital, meaning part of a distribution may be your own money coming back rather than income earned.
• A 2026 launch that is still small and lightly traded, so spreads can run wider than in the category's household names.

• SIOO 15% is a target, not a coupon. Distributions can include return of capital, which sends part of your own principal back and trims net asset value.vistashares.com
• Income comes from an actively managed options book, so the outcome rides on manager decisions and options pricing instead of a fixed dividend stream.
• Launched in December 2025 and still a small, lightly traded fund. Short history and wider bid-ask spreads come with that territory.

Full ODTE profile⁠

Full SIOO profile⁠