High-yield ETFs ranked by trailing distribution yield. Use the table as a starting shortlist, then follow a ticker through to its detail page to see holdings, fees, and dividend history.
Last reviewed on August 11, 2026
| Ticker | Name | Yield | Expense Ratio | AUM |
|---|---|---|---|---|
| QYLD | Global X Nasdaq 100 Covered Call ETF | 11.89% | 0.60% | $8.4B |
| JEPQ | JPMorgan Nasdaq Equity Premium Income ETF | 10.33% | 0.35% | $33.0B |
| JEPI | JPMorgan Equity Premium Income ETF | 8.36% | 0.35% | $40.4B |
| DIVO | Amplify CWP Enhanced Dividend Income ETF | 5.25% | 0.55% | $2.8B |
| SPHD | Invesco S&P 500 High Dividend Low Volatility ETF | 4.90% | 0.30% | $3.3B |
| PEY | Invesco High Yield Equity Dividend Achievers ETF | 4.82% | 0.54% | $3.2B |
| SPYD | SPDR Portfolio S&P 500 High Dividend ETF | 4.50% | 0.07% | $7.3B |
| RWR | SPDR Dow Jones REIT ETF | 3.90% | 0.25% | $1.7B |
| SCHD | Schwab U.S. Dividend Equity ETF | 3.89% | 0.06% | $71.0B |
| USRT | iShares Core U.S. REIT ETF | 3.85% | 0.08% | $3.3B |
| DVY | iShares Select Dividend ETF | 3.79% | 0.38% | $19.8B |
| VNQ | Vanguard Real Estate ETF | 3.75% | 0.13% | $33.7B |
Yields are trailing / distribution yields from recent fact sheets. They change with distributions and price; confirm current values before acting.
Not all "high yield" is built the same. Reading the table above as a ranked list will mislead anyone who doesn't know what drives each payout. Broadly, the funds here earn their yields in four different ways:
A 10% distribution yield looks spectacular next to a 3% one, but the two are rarely comparable dollar-for-dollar. Three things to check before using yield alone to rank funds:
Searchers often ask for a high-yield list that shows how distributions are actually taxed. Here is the broad-strokes version for a U.S. taxable account (check each fund's 19a notices and year-end 1099 for exact splits):
| Fund | Typical distribution character |
|---|---|
| SCHD, VYM, SPYD, SPHD, DVY, PEY | Mostly qualified dividends — long-term capital-gains rates |
| JEPI, JEPQ | Mostly ordinary income (option premium via equity-linked notes) |
| QYLD | Large return-of-capital component — defers tax, lowers cost basis |
| VNQ, USRT, RWR (REITs) | Mostly ordinary income; a portion qualifies for the 20% QBI deduction |
Rule of thumb: hold the ordinary-income payers (covered-call and REIT funds) in tax-advantaged accounts first. The tax optimization guide walks through account placement.
Among established, diversified funds, QYLD's ~12% distribution yield tops this list, followed by JEPQ at ~10%. Higher advertised yields exist (leveraged and single-stock income products), but their distributions and NAVs are much less stable — we don't rank them alongside broad funds.
Safer choices exist within the category. Covered-call yields are more stable in sideways markets but cap growth, which matters over a 25-year retirement. Many retirees blend one covered-call fund for current income with a quality screen like SCHD or SPHD for growing, mostly-qualified income.
Because the payout is option premium, the fund sells away upside to generate it. In strong bull markets a 10%-yielding covered-call fund can badly trail a 3%-yielding equity fund on total return; in flat or falling markets the premium cushions losses. Yield is a strategy choice, not a bonus.
QYLD, JEPQ, JEPI, DIVO, SPHD, and PEY all pay monthly. SPYD, SCHD, DVY, VNQ, USRT, and RWR pay quarterly. See the full monthly dividend ETF list.