Basics
What is distribution coverage?
How to read distribution coverage for covered-call and income ETFs: earned vs paid from issuer filings, Dist. coverage vs yield, and fund examples.
Yield vs coverage
Distribution yield tells you how large the cheque is relative to price. Dist. coverage asks a different question: did period profit from the fund's financial statements support what was paid out? For covered-call funds, a large share of period profit can come from holdings still owned (unrealized gains), not just cash dividends and option premiums already received.
How CoverCall Ledger scores coverage
We map earned (period profit from the annual financial statements) against distributed (cash paid to unitholders) for a stated filing year. At 100% or above, the table shows Covered. Below that, you see the percentage. This is accrual coverage — not a guarantee of future payments and not investment advice.
Why this matters for covered-call ETFs
Covered-call and option-income ETFs often advertise attractive distribution rates. Yield alone does not tell you whether the fund's accounting earnings supported those payments. Two funds with similar yields can have very different coverage profiles once you read the MRFP or annual financial statements.
Next steps
Browse all fund pages or open the live coverage table. For yield vs coverage in more detail, see Distribution coverage vs yield.
Related funds
Open the live coverage table · Browse all fund pages
Figures come from public MRFP / annual financial statements where mapped. Confirm against issuer documents. Not investment advice.