High Income
Fund Highlight

IQQQ

Nasdaq-100 High Income ETF

 

First Nasdaq-100 ETF powered by a daily call options strategy.

Quick Links

A Next-Generation Covered Call Strategy

Traditional covered call ETFs using monthly call options typically require investors to make a trade-off between the potential for high income and long-term total returns. By employing a covered call strategy based on daily call options, IQQQ provides a potential solution for investors seeking both high income and Nasdaq-100 returns over the long term.

High Income Potential

Daily call options can produce a high level of income*

Efficient Income Generation

Seek income and target Nasdaq-100 returns over the long term

Higher Return Potential

Seek to capture returns that monthly covered call strategies may sacrifice

*IQQQ gains exposure to the sale of daily call options using swap agreements and does not trade options.

“

Conventional covered call ETFs often sacrifice total return to generate high income. IQQQ, the first Nasdaq-100 ETF powered by a daily call options strategy, offers investors both the potential for high income and a long-term total return approximating that of the Nasdaq-100.

Michael L. Sapir, ProShares CEO

The Opportunity

Traditional Covered Calls: A Costly Trade-Off?

Traditional monthly covered call strategies face a critical trade-off between income potential and total returns. Learn how ProShares High Income ETFs, based on a daily call options strategy, may offer a better solution. 

ProShares High Income ETFs

High Income

ISPY

S&P 500 High Income ETF

ProShares S&P 500 High Income ETF seeks investment results, before fees and expenses, that track the performance of the S&P 500 Daily Covered Call Index.

View Fund Details
High Income

IQQQ

Nasdaq-100 High Income ETF

ProShares Nasdaq-100 High Income ETF seeks investment results, before fees and expenses, that track the performance of the Nasdaq-100 Daily Covered Call Index.

View Fund Details
High Income

ITWO

Russell 2000 High Income ETF

ProShares Russell 2000 High Income ETF seeks investment results, before fees and expenses, that track the performance of the Cboe Russell 2000 Daily Covered Call Index.

View Fund Details

Research & Insights

A More Effective Approach to Equity Income?

A strategy based on daily call options combined with a dividend growth strategy can together potentially deliver high income now, grow income over time, and improve long-term total returns.
Read More
IQQQ: Target Both High Income and Nasdaq-100 Returns

Watch ProShares’ Simeon Hyman discuss the launch of Nasdaq-100 High Income ETF (IQQQ) as part of Nasdaq’s 'Just for Funds' video series.

View the video
The Daily Covered Call Opportunity

Learn how a daily covered call strategy offers a compelling alternative to the limited upside and limited downside protection of traditional monthly covered call strategies.

Read the article
Seek High Income Potential With Small-Cap Upside

Investors have flocked to covered call strategies to help generate income and maintain the potential for equity market returns. Now, daily covered call innovations offer a potentially more effective approach than traditional covered call strategies in the small-cap space.

Read the article
Simeon Hyman Talks to Investment News about Covered Call ETFs

Learn how ISPY and IQQQ capitalize on a recent innovation in the options market, enabling investors to seek high income while targeting long-term total returns consistent with their large-cap benchmarks.

View the video
Get the latest perspectives and updates.

IQQQ seeks to replicate a daily covered call strategy by investing in equity securities and derivatives. The Fund does not sell (write) call options.

Index information does not reflect any management fees, transaction costs or expenses. Indexes are unmanaged, and one cannot invest directly in an index.

Investing involves risk, including the possible loss of principal. This ProShares ETF is non-diversified and entails certain risks, including risks associated with the use of derivatives (swap agreements, futures contracts and similar instruments), imperfect benchmark correlation, and market price variance, all of which can increase volatility and decrease performance. Please see summary and full prospectuses for a more complete description of risks.

There is no guarantee any ProShares ETF will achieve its investment objective. The performance of the Fund may not correspond to the performance of the Nasdaq-100 Index, the Fund may not be successful in generating income for investors, and the Fund may not capture returns that traditional covered call strategies may sacrifice.

The Nasdaq-100® Daily Covered Call Index replicates the performance of a covered call investment strategy that combines a long position in the Nasdaq-100 Index with a short position in Nasdaq-100 Index® call options. In particular, the index is designed to replicate a daily covered call strategy that sells call options with one day to expiration each day. The fund intends to make distributions each month of an amount that reflects the dividends and call premium income earned by a daily Nasdaq-100 Index covered call strategy (net of expenses). There can be no guarantee that the Fund will make such distributions and the amount of such distributions, if any, may vary significantly from month to month. Some or all of such distributions may be characterized as a return of capital.

Shares of any ETF are generally bought and sold at market price (not NAV) and are not individually redeemed from the fund. There is no guarantee that capital gain distributions will not be made in the future. There is no guarantee that dividends or interest income will be paid. Your brokerage commissions will reduce returns.

Carefully consider the investment objectives, risks, charges and expenses of ProShares before investing. This and other information can be found in their summary and full prospectuses. Read them carefully before investing.

Nasdaq®, Nasdaq-100 Index®, Nasdaq-100®, NDX®, Nasdaq-100 Daily Covered Call™ Index, NDXDCC™, Nasdaq-100 Daily Covered Call Option™ Index, NDXDCCOV™, Nasdaq-100 Daily Covered Call Income™ Index, NDXDCCI™, are registered trademarks of Nasdaq, Inc. (which with its affiliates and third party licensors is referred to as the “Corporations”) and are licensed for use by ProShare Advisors LLC. The Product(s) have not been passed on by the Corporations as to their legality or suitability. The Product(s) are not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PRODUCT(S).

ProShares are distributed by SEI Investments Distribution Co., which is not affiliated with the funds’ advisor or sponsor.

Your use of this site signifies that you accept our Terms and Conditions of Use.