DIVO alternatives and similar ETFs

DIVO alternatives at a glance#

Each fund below can stand in for DIVO, closest first. “Same kind” funds hold the same kind of stocks through a different index. “Related” funds make a different bet that often moves the same way.

Fees come from each fund company, checked on the dates shown on each fund’s page.

How DIVO and its alternatives did over the same dates#

Each row measures the alternative and DIVO on the days both traded, so neither gets a head start. Correlation shows how closely their daily moves matched over about the last five years. A value of 1 means they always moved together.

Prices through October 16, 2026. Figures use daily closing prices adjusted for splits, with dividends reinvested. They do not include taxes or the cost of buying and selling. Past results do not tell you what will happen next.

Each DIVO alternative, compared#

JEPI: JPMorgan Equity Premium Income ETF#

JEPI also holds stocks plus call options sold on them, which trade some of the gains for extra income. It tracks no index (its managers pick what it holds), while DIVO tracks no index (its managers pick what it holds).

It charges 0.35% a year, about $35 on $10,000, against $56 for DIVO. It held 135 stocks, against 30 for DIVO.

From May 2020 to October 2026, JEPI returned about 11.1% a year and DIVO returned about 14.6% a year. Over about the last five years they moved together on most days (correlation 0.90).

Read the JEPI fund page for its returns by year and worst drop.

GPIX: Goldman Sachs S&P 500 Premium Income ETF#

GPIX also holds stocks plus call options sold on them, which trade some of the gains for extra income. It tracks no index (its managers pick what it holds), while DIVO tracks no index (its managers pick what it holds).

It charges 0.29% a year, about $29 on $10,000, against $56 for DIVO. It held 492 stocks, against 30 for DIVO.

From October 2023 to October 2026, GPIX returned about 22.5% a year and DIVO returned about 18.6% a year. Over about the last five years they often moved together, but not always (correlation 0.82).

Read the GPIX fund page for its returns by year and worst drop.

SPYI: NEOS S&P 500 High Income ETF#

SPYI also holds stocks plus call options sold on them, which trade some of the gains for extra income. It tracks no index (its managers pick what it holds), while DIVO tracks no index (its managers pick what it holds).

It charges 0.68% a year, about $68 on $10,000, against $56 for DIVO. It held 510 stocks, against 30 for DIVO.

From August 2022 to October 2026, SPYI returned about 14.7% a year and DIVO returned about 13.8% a year. Over about the last five years they often moved together, but not always (correlation 0.82).

Read the SPYI fund page for its returns by year and worst drop.

XYLD: Global X S&P 500 Covered Call ETF#

XYLD also holds stocks plus call options sold on them, which trade some of the gains for extra income. It tracks the Cboe S&P 500 BuyWrite Index, while DIVO tracks no index (its managers pick what it holds).

It charges 0.6% a year, about $60 on $10,000, against $56 for DIVO. It held 505 stocks, against 30 for DIVO.

From December 2016 to October 2026, XYLD returned about 8.4% a year and DIVO returned about 12.7% a year. Over about the last five years they often moved together, but not always (correlation 0.79).

Read the XYLD fund page for its returns by year and worst drop.

JEPQ: JPMorgan Nasdaq Equity Premium Income ETF#

JEPQ also holds stocks plus call options sold on them, which trade some of the gains for extra income. It tracks no index (its managers pick what it holds), while DIVO tracks no index (its managers pick what it holds).

It charges 0.35% a year, about $35 on $10,000, against $56 for DIVO. It held 110 stocks, against 30 for DIVO.

From May 2022 to October 2026, JEPQ returned about 15.3% a year and DIVO returned about 11.7% a year. Over about the last five years they often moved together, but not always (correlation 0.73).

Read the JEPQ fund page for its returns by year and worst drop.

QYLD: Global X NASDAQ 100 Covered Call ETF#

QYLD also holds stocks plus call options sold on them, which trade some of the gains for extra income. It tracks the Cboe NASDAQ-100 BuyWrite V2 Index, while DIVO tracks no index (its managers pick what it holds).

It charges 0.6% a year, about $60 on $10,000, against $56 for DIVO. It held 102 stocks, against 30 for DIVO.

From December 2016 to October 2026, QYLD returned about 9.6% a year and DIVO returned about 12.7% a year. Over about the last five years they often moved together, but not always (correlation 0.71).

Read the QYLD fund page for its returns by year and worst drop.

QQQI: NEOS Nasdaq-100 High Income ETF#

QQQI also holds stocks plus call options sold on them, which trade some of the gains for extra income. It tracks no index (its managers pick what it holds), while DIVO tracks no index (its managers pick what it holds).

It charges 0.68% a year, about $68 on $10,000, against $56 for DIVO.

From January 2024 to October 2026, QQQI returned about 18.2% a year and DIVO returned about 15.6% a year. Over about the last five years they often moved together, but not always (correlation 0.68).

Read the QQQI fund page for its returns by year and worst drop.

VYM: Vanguard High Dividend Yield ETF#

VYM is a looser match. It holds US companies that pay high or steady dividends, while DIVO holds stocks plus call options sold on them, which trade some of the gains for extra income.

It charges 0.04% a year, about $4 on $10,000, against $56 for DIVO. It held 593 stocks, against 30 for DIVO.

From December 2016 to October 2026, VYM returned about 11.2% a year and DIVO returned about 12.7% a year. Over about the last five years they moved together on most days (correlation 0.93).

Read the VYM fund page for its returns by year and worst drop.

DIVO versions from other fund companies#

Some people keep all their funds with one company. Here is the closest fund to DIVO from each other company on this page:

• J.P. Morgan Asset Management: JEPI, JPMorgan Equity Premium Income ETF (same kind of fund, 0.35% a year)
• Goldman Sachs Asset Management: GPIX, Goldman Sachs S&P 500 Premium Income ETF (same kind of fund, 0.29% a year)
• NEOS: SPYI, NEOS S&P 500 High Income ETF (same kind of fund, 0.68% a year)
• Global X (Mirae Asset): XYLD, Global X S&P 500 Covered Call ETF (same kind of fund, 0.6% a year)
• Vanguard: VYM, Vanguard High Dividend Yield ETF (related fund, 0.04% a year)

Most brokers let you buy any ETF, whoever runs it. Mutual fund versions, such as a fund company’s index mutual fund, are not listed here.

How to choose between DIVO and its alternatives#

• What it tracks. A fund on the same index holds the same stocks. A different index can mean different weights, more or fewer holdings, or a different mix.
• The fee. The difference is often small. On $10,000, DIVO costs about $56 a year. VYM costs about $4.
• History. An older fund has been through more bad markets, so you can see how far it fell.
• What you already own. Two funds that move together add little variety. A fund with a low correlation behaves more on its own.

Swapping DIVO to harvest a tax loss#

Some investors sell a fund at a loss to lower their taxes, then buy a similar fund so they stay invested. This is called tax-loss harvesting.

The IRS wash sale rule blocks the loss if you buy a “substantially identical” security within 30 days before or after the sale. The IRS has not said exactly when two funds count. Funds on the same index are more likely to. Funds on a different index, such as XYLD, QYLD or VYM, are less likely to.

Ask a tax professional before you rely on this. Read the IRS rules in Publication 550.

Test DIVO and its alternatives in a backtest#

Tactfolio is a platform where you build rules-based investing strategies, backtest them on decades of real prices, share them, and run them automatically in your own Alpaca account. Open the builder, add DIVO and JEPI, and see how each would have done on the same dates, or how a mix of both would have done.

The details#

Alternatives are picked from facts, not from returns. First come funds that track the same index as DIVO. Then come funds that hold the same kind of stocks through another index. Last come funds from a close category that make a different bet. Leveraged funds are only listed as alternatives to other leveraged funds.

Within each group, the funds whose daily returns moved most like DIVO over about the last five years come first. Returns and worst drops use Tactfolio’s stored daily prices, adjusted for splits, with dividends reinvested. Each alternative is measured with DIVO only on days both traded. Read what a backtest simulates for more on these measures.