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 Outstanding nominal value as of the current date

Average price of a bond, in % of face value

The current yield indicates the ratio of the accrued coupon to the current market price of the bond. It can be used in cases where attachments are considered for a short period of time. In this situation, the change in the market price can sometimes be neglected.

Bond duration is a way of measuring how much bond prices are likely to change if and when interest rates move.

Effective yield to maturity. It considers both coupon income and profit/loss due to the difference between the purchase price and the repayment price. Effective yield shows the investor the return on invested funds with reinvested coupons and depreciation.

Listing level — stock exchange assessment of securities reliability.

The ratio of the annual coupon to the "dirty" price of the bond, including the accrued interest. This type of yield can be used in the case of short-term investments, when the investment horizon is within one coupon period.

Average purchase price of a bond, in % of face value

Up to 2 years - short-term, up to 5 years - mid-term, more than 5 years - long-term

Bond type - goverment, municipal or corporate

Coupon yield % per annum of nominal value (coupon amount per year/nominal value)

 Simple yield to maturity. It considers both coupon income and profit/loss due to the difference between the purchase price and the repayment price. Simple yield shows the investor the return on invested funds without reinvested coupons.

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The fund expense ratio is the annual fee expressed as a percentage of a mutual fund or ETF's average assets, covering management, administrative, and other operational costs. It directly reduces investors' returns.

10 years

12 trailing months

1 day

1 month

1 year

3 months

5 years

6 months

1 week

all time

Choose a period

year to date

https://www.youtube.com/watch?v=12y7Avs0aAg

Unlock the full power of the 3 ETF Pillars of Income Investing — Anchors, Boosters, and Juicers — by bringing them to life inside Snowball Analytics, a powerful advanced online portfolio analytics dashboards. 

In this video, I walk you step‑by‑step through how I set up my ETF Income Pillars inside Snowball, how the platform automatically categorizes and intuitively visualizes them, and how you can use these insights to track your passive income strategy with full transparency and from multiple perspectives. 

Whether you're building a long‑term income portfolio, optimizing your ETF allocations, or simply looking for a clearer way to monitor your cashflow strategy, this walkthrough will show you exactly how Snowball Analytics can transform the way you see your investments. 

If you want to try Snowball Analytics for yourself, I am a Snowball Affiliate... 

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 Use the link to try out and subscribe and get an additional 10% discount on top of the big Holiday Season discount currently offered. 

How to Set 3 ETF Income Pillars in SnowBall Categories

Everyone wrote them off. Here's how Income Shares went from disaster to dominating the European income ETF market 

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𝗧𝗵𝗲 𝗗𝗶𝘀𝗮𝘀𝘁𝗲𝗿 (𝟮𝟬𝟮𝟰)

Income Shares entered the European market with a simple pitch: high-yield covered call ETPs on single stocks.

The strategy? Buy shares, sell 5% out-of-the-money calls, collect premium.

Standard playbook. Every fund manager does it.

Investors watched their NAV erode month after month. The yields looked great on paper - but the underlying value was bleeding out.

The covered call structure capped all the upside while still exposing investors to the full downside.

Investors got wrecked. The product was failing. The brand was dying.

Most fund managers would have doubled down. Blamed the market. Blamed the investors.

Not to Wall Street. Not to analysts. Not to competitors.

They listened to the people actually buying their products - OUR COMMUNITY.

"We want income, but not at the cost of growth"

6 months ago, they scrapped the covered call strategy entirely.

And built something no other fund manager in the world uses.

𝗧𝗵𝗲 𝗜𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗼𝗻

The new strategy: Cash-Secured Put + Equity

25% direct equity ownership (actual shares)

Puts sold at strikes ranging from 5% OTM to 10% ITM

𝟭. 𝗡𝗼 𝗰𝗮𝗽𝗽𝗲𝗱 𝘂𝗽𝘀𝗶𝗱𝗲 With covered calls, if the stock moons, you miss the gains above the strike. With this strategy, your 25% equity rides the wave. Unlimited upside exposure.

𝟮. 𝗣𝗿𝗲𝗺𝗶𝘂𝗺 𝗶𝗻𝗰𝗼𝗺𝗲 𝗳𝗿𝗼𝗺 𝗽𝘂𝘁𝘀 Selling puts generates income just like covered calls - but without sacrificing your upside.

𝟯. 𝗖𝗮𝘀𝗵 𝗲𝗮𝗿𝗻𝘀 𝗶𝗻𝘁𝗲𝗿𝗲𝘀𝘁 The 75% cash collateral isn't sitting idle. It earns a return. Extra income on top of option premiums.

𝟰. 𝗣𝗮𝗿𝘁𝗶𝗮𝗹 𝗱𝗼𝘄𝗻𝘀𝗶𝗱𝗲 𝗽𝗿𝗼𝘁𝗲𝗰𝘁𝗶𝗼𝗻 If the stock drops, you're only 25% exposed - not 100%.

This isn't a small tweak. This is a completely different philosophy.

𝗧𝗵𝗲 𝗥𝗲𝘀𝘂𝗹𝘁𝘀

Let's talk numbers using their Tesla ETP (TSLD):

𝗣𝗲𝗿𝗳𝗼𝗿𝗺𝗮𝗻𝗰𝗲:

YTD 2025: +7.65% total return (due to old strategy mixed in)

NAV Growth 6M +24.24% Price Appreciation 

𝗗𝗶𝘀𝘁𝗿𝗶𝗯𝘂𝘁𝗶𝗼𝗻 𝗬𝗶𝗲𝗹𝗱: 56.29%

𝗘𝘅𝗽𝗲𝗻𝘀𝗲 𝗥𝗮𝘁𝗶𝗼: 0.55%

Compare that to YieldMax's TSLY at 1.01% expense ratio.

𝗡𝗔𝗩 𝗶𝘀 𝗴𝗿𝗼𝘄𝗶𝗻𝗴, 𝗻𝗼𝘁 𝗲𝗿𝗼𝗱𝗶𝗻𝗴.

The distributions aren't coming from your principal. They're coming from actual income generation.

This is what sustainable yield looks like.

Most traded Income ETPs on London Stock Exchange

From written off to market leader in 12 months.

𝗪𝗵𝘆 𝗧𝗵𝗶𝘀 𝗠𝗮𝘁𝘁𝗲𝗿𝘀 𝗙𝗼𝗿 𝗘𝘂𝗿𝗼𝗽𝗲𝗮𝗻 𝗜𝗻𝘃𝗲𝘀𝘁𝗼𝗿𝘀

If you're in the UK or Europe, you know the struggle.

US investors have YieldMax, Defiance, REX Shares - dozens of income options.

European investors? We've been locked out.

Income Shares is the first to bring single-stock income ETPs to Europe with:

Now on Deutsche Börse and Euronext Amsterdam

FCA and Central Bank of Ireland regulated

This is the democratisation of income investing for European markets.

Most companies fail because they stop listening.

They get defensive. They blame external factors. They convince themselves they're right and the market is wrong.

Instead they asked: "What do our investors actually need?"

The greatest turnaround in income investing wasn't about a clever strategy.

Listen to your investors. They're the ones writing the cheques.

𝗧𝗵𝗲 𝗕𝗼𝘁𝘁𝗼𝗺 𝗟𝗶𝗻𝗲

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 Unique put writing strategy (only one in the world) 

The Greatest Comeback Story in Income Investing

In a market often defined by "fear of the unknown," income investors frequently find themselves looking backward to find the path forward. These two legendary credit funds have seen it all: the PIMCO Corporate & Income Opportunity Fund (PTY) and the PIMCO Corporate & Income Strategy Fund (PCN).

Both funds offer histories that pre-date the 2008 Global Financial Crisis. More importantly, both continued to pay distributions through that crisis, the 2020 pandemic shock, and everything in between. If you’re looking for "seasoned" assets that yield over 10%, these two deserve a spot on your watchlist.

When it comes to consistency, PCN is a rare breed. Its distribution history spans 23 years with a simple story: $0.1125 per month with no cuts to the regular payout. While it doesn't offer the "dividend growth" of a stock like Main Street Capital, its double-digit yield allows investors to manufacture their own growth. By spending 8% and reinvesting the rest, you can effectively compound your income over time.

PTY, PIMCO's flagship CEF, has been slightly more dynamic. Its monthly payout has shifted between $0.12 and $0.14 over the decades. While not as "flat" as PCN, it has never halted payments—even during the darkest days of 2008.

Both PTY and PCN are actively managed closed-end credit funds. Unlike a passive index fund, PIMCO’s managers use their judgment to navigate interest rate shifts and credit spreads. They primarily invest in the "credit" markets—meaning they receive income from interest payments on corporate bonds, government debt, and mortgage pools.

Why is the yield so high? It comes down to two factors:

Because these funds have historically outperformed the S&P 500 on a total return basis since inception, they are rarely "cheap." Closed-end funds can trade for more than the value of their underlying assets (a premium), or less (a discount).

For years, PTY has traded at "nose-bleed" premiums, sometimes as high as 50%. However, as of late 2025, we are seeing a rare cooling period. PTY’s premium has dipped toward 11%, and PCN is sitting near 6%. While still not "discounts," these are significantly lower than their historical averages.

These funds aren't for the "doomsday" investor. If you believe a total economic collapse or hyper-inflation is imminent, you’re likely better off in gold or treasuries.

However, if you are a long-term investor looking to diversify away from the S&P 500, and want exposure to a professionally managed credit portfolio, PTY and PCN are worth a look. At their current valuations, they offer a compelling entry point for those who have waited years to own a piece of the PIMCO powerhouse. Click here for the 

Want to see how these funds fit into a real-world retirement strategy? I share my full portfolio and monthly updates for free, here: 

. If you want to learn from other Income Investors, check out the 

2 Pimco Funds I’m Buying Now (10.6% Yield)

https://www.youtube.com/watch?v=91TH-dCk5-Y&t=837s

Do you know the 3 CC ETF Pillars inside your income portfolio? Can you see how your Diversification Strategy aligns with your investment goals?  In this video, I’m take the original concept I introduced — categorizing Covered Call ETFs into Core/Base, Yield Base, and Juicers — and refine it into a clearer, more powerful framework based on your incredible feedback. 

Today, we’re upgrading the names to something more intuitive: 

anchor

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These three CC ETF Pillars form the foundation of a smarter, more intentional passive income strategy. And once you understand the criteria behind each ETF Pillar, you’ll never look at your income portfolio the same way again. 

👉🏻 The refined definitions and criteria for all 3 ETF Pillars 

👉🏻 A single, clean table that breaks down exactly what makes an ETF an Anchor, Booster, or Juicer. 

👉🏻 How the 3 Pillars become a powerful diversification tool Instead of guessing or chasing yield, you’ll see how to use the pillars as a strategic roadmap. 

👉🏻 How to assign Target Weights to each Pillar This is where the framework becomes personal — aligning your allocations with your goals, risk tolerance, and income needs. 

👉🏻 Real‑world examples of Pillar Target Weights I’ll walk through several investor profile examples and show how each one might structure their portfolio using the 3 Pillars. 

👉🏻 My own PIIverse Portfolio breakdown 

👉🏻 I’ll reveal exactly how my portfolio is allocated across Anchors, Boosters, and Juicers — and why. 

 Why This Matters Even though many income investors understand the value of diversification, without structure, clarity, and diversification, the portfolio's ability to meet investor goals is in question. 

The 3 ETF Pillars give you a simple, visual, and strategic way to build a portfolio that’s: 

 More intentional - focusing your High-Yield Passive Income Strategy to your Goals 

This is the framework I wish I had years ago when i was building my Passive Income Portfolio but now it’s yours for your strategy development!

3 CC ETF PILLARS Income Investors Must Know

Most investors chase dividend stocks that pay 3-4% yields while missing out on a revolutionary class of ETFs that are legally required to distribute 10%+ annually – without the traditional risks of high-yield investments. Welcome to the world of next-generation covered call ETFs that have solved the age-old problem of income investing: getting paid handsomely without watching your principal evaporate.

The Covered Call Revolution: Income That Actually Works

Traditional covered call strategies have frustrated investors for decades. Sure, you collected premium income by selling call options against your stock holdings, but when markets rallied, your shares got called away at exactly the wrong time. You missed the upside just when you needed it most.

The new generation of covered call ETFs has cracked this code through sophisticated option strategies and intelligent strike selection. These aren't your grandfather's covered call funds – they're engineered to generate substantial income while preserving long-term growth potential.

Here's the brilliance: these ETFs own portfolios of high-quality stocks, then systematically sell call options against those holdings. The premium collected from selling these options gets distributed to shareholders as monthly income. But here's the key innovation – modern covered call ETFs use out-of-the-money strikes and sophisticated rolling strategies that allow them to participate in significant upside moves while still generating substantial income.

Think of it as getting paid rent on stocks you own, except the "tenants" (option buyers) often let you keep the property AND the rent when markets move favorably.

QQQI - Invesco NASDAQ 100 Covered Call ETF (Distribution Yield: ~11%)

QQQI takes the explosive growth potential of the NASDAQ-100 and wraps it in an income-generating strategy that's frankly remarkable. By selling calls against tech titans like Apple, Microsoft, and Amazon, QQQI has consistently delivered double-digit distribution yields.

: You're not sacrificing growth for income – you're enhancing tech exposure with substantial monthly payments. The fund's intelligent strike selection means you still participate in meaningful upside while collecting premium income that most dividend stocks can't match.

SPYI - SPDR S&P 500 High Income ETF (Distribution Yield: ~12%)

SPYI applies covered call strategies to the S&P 500, creating what might be the perfect marriage of broad market exposure and income generation. This isn't some risky dividend trap – it's America's largest companies generating income through option premiums.

: When you own SPYI, market volatility becomes your friend. Higher volatility means higher option premiums, which means higher distributions to you. It's like getting paid more when markets get scared.

GPIQ - Goldman Sachs NASDAQ-100 Covered Call ETF (Distribution Yield: ~10%)

Goldman Sachs brings institutional-grade option strategies to retail investors through GPIQ. Their approach focuses on maximizing income while maintaining meaningful upside participation through dynamic strike management.

: Goldman's quantitative expertise shines in their option selection and timing. They're not just mechanically selling calls – they're strategically optimizing income generation while protecting growth potential.

QDVO - Amplify CWP Enhanced Dividend Income ETF (Distribution Yield: ~9%)

QDVO takes a unique approach by focusing on dividend-paying stocks within the NASDAQ-100, then enhancing those dividends through covered call premiums. It's dividend growth investing supercharged with option income.

: You get the best of both worlds – companies that naturally pay and grow dividends, plus additional income from option premiums. It's like having a dividend stock that suddenly decided to double its payout.

IDVO - Amplify International Enhanced Dividend Income ETF (Distribution Yield: ~8%)

IDVO applies the covered call enhancement strategy to international dividend stocks, providing geographic diversification alongside enhanced income. This fund proves that income innovation isn't limited to US markets.

: International stocks often offer higher base dividend yields than US counterparts. Add covered call premiums on top, and you're looking at compelling income from developed international markets.

The Nav Erosion Myth: Why These Funds Are Different

Traditional covered call ETFs suffered from "NAV erosion" – their share prices gradually declined over time as they consistently sold upside potential for premium income. The new generation has largely solved this problem through several innovations:

: Instead of selling calls at-the-money (where they cap all upside), these funds typically sell calls 5-15% out-of-the-money, allowing significant participation in market gains.

: When stocks approach strike prices, fund managers can roll options higher and further out in time, capturing more upside while maintaining income generation.

: By focusing on fundamentally strong companies (NASDAQ-100, S&P 500), these funds benefit from the underlying growth of exceptional businesses.

: Today's option markets are more liquid and efficient, allowing fund managers to optimize entry and exit timing like never before.

How to Add These Income Giants to Your Portfolio

The Conservative Approach (5-10% allocation)

Use covered call ETFs as a bond alternative. With yields often exceeding 8-12%, they can replace a portion of your fixed income allocation while maintaining equity upside potential.

The Income-Focused Strategy (15-25% allocation)

For investors prioritizing current income, these ETFs can form the core of an income-generating portfolio. Combine 2-3 different covered call ETFs for diversification across strategies and underlying holdings.

The Total Return Enhancement (10-15% allocation)

Use these funds to enhance overall portfolio income without sacrificing growth potential. They're particularly effective in tax-advantaged accounts where the monthly distributions compound without immediate tax consequences.

The beauty of covered call ETFs is that market volatility increases their income potential. When markets get choppy and option premiums spike, these funds can generate even higher distributions. This means you're often getting the best deals during exactly the times when other investors are running scared.

Consider dollar-cost averaging into positions to smooth out any timing issues and take advantage of varying option premium environments.

Unlike quarterly dividend stocks, these ETFs typically distribute monthly. This creates a more consistent income stream and better cash flow management for investors using the distributions for current expenses.

Monthly distributions also enhance compounding for reinvestment strategies, as you're putting money back to work more frequently than with quarterly payers.

The covered call ETF revolution represents one of the most significant innovations in income investing in decades. By solving the traditional trade-offs between income and growth, these funds offer a legitimate path to 8-12% annual distributions from high-quality underlying assets.

Whether you're seeking to replace bond income in a low-rate environment, enhance retirement cash flow, or simply want to get paid while you wait for long-term growth, these income giants deserve serious consideration in modern portfolios.

The question isn't whether you can afford to add covered call ETFs to your portfolio – it's whether you can afford to miss out on this level of income generation from quality assets.

These 5 "Income Giants" Pay 10%+ Yields Without Destroying Your Principal

for those who are not yet familiar with this group of companies. These are businesses that do not simply pay dividends for decade, they have

 increased them annually for a minimum of 25 consecutive years. 

n 2025, interest in the Aristocrats has markedly increased: many of them have already demonstrated a rally due to stable results and expectations of a more accommodative monetary policy.

For investors, this represents a reliable anchor point: the Aristocrats have survived multiple economic cycles, maintaining 

 and discipline regarding shareholder distributions. Some of these companies will also be included in my own portfolio. However, strong price appreciation is not a reason to suspend sound judgment. A long history of dividend increases helps in identifying more resilient businesses, but 

In this analysis, I’ll explain how to use this list effectively.

After reading the article, please share which of the Aristocrats are currently in your portfolio?

When I reviewed the list at the beginning of December 2025 several companies with notable performance particularly stood out. Here are the examples:

Some of these companies stand out as solid long-term holdings, even without perfect entry points, offering a reliable combination of dividend income and business stability.

Why I Personally Consider the Aristocrats a Prudent Choice

When I compiled my "candidate watchlist," the following factors attracted me:

 5–10 Aristocrats across various sectors

 (Finance, Retail, Industrials, Real Estate, and others) rather than just one company, you mitigate the risk that a single failure will severely impact your overall return.

Why Do Aristocrats Withstand Crises Better Than the Market?

Dividend Aristocrats Index against the standard S&P 500

 during various crises, I noticed a recurring pattern: the Aristocrats fall less and recover faster. Here is why this occurs:

1) Their Businesses Won't Fail in a Single Cycle

Companies that raise dividends for decades are typically highly conservative: they have low debt burdens, they avoid aggressive expansion, and they aren't reliant on a single product or client. This provides them with a safety margin (or "reserve of strength").

2) They Continue Paying Even During a Crisis

While the market is in turmoil and stock prices are collapsing, the investor still receives dividends—and this emotionally helps them withstand the volatility.

3) These Companies Proactively Form a Financial "Cushion"

To raise dividends for years, a company must ensure it has sufficient cash for both payouts and operational activities. Therefore, before crises, they often have high cash flow, stable margins, and low liabilities. This helps them navigate downturns more easily.

) Their Customers are Those Who Always Spend Money

Many Aristocrats operate recurring businesses related to goods where demand does not fall: food products, housing services, insurance, packaging, and industrial consumables.

Why "Boring" Companies Deliver Superior Result

I'll be honest: when I first looked at the Aristocrats, I thought, "How boring: just packaging, tools, food products, and services." But later, I grasped an important truth:

Examples of “Young” Dividend Aristocrats 2025

When going through the Dividend Aristocrats list, I focused on companies that only relatively recently reached the 25-year dividend growth mark. These “younger” Aristocrats have already proven their discipline, but they’re often still in a phase where the business can grow and adapt.

Looking at the five-year chart, Amcor clearly lagged the S&P 500 over this period. While the broader market delivered strong returns, AMCR moved in a much narrower range and spent long stretches under pressure.

At the same time, the chart shows that price declines were relatively controlled and followed by gradual recoveries rather than sharp collapses. This behavior reflects the defensive nature of the business: demand for packaging remains stable, but growth expectations are limited.

Amcor hasn’t been a price-performance story over the last five years. Instead, it behaved like a classic income-oriented stock — lower volatility, muted upside, and limited participation in market rallies.Dividends, however, remained a key part of the total return, supported by steady cash flows from essential end markets such as food and consumer packaging.

AMCR is a good example of why Dividend Aristocrats should not be judged on price charts alone. For investors focused on income and capital preservation rather than beating the index, this kind of performance profile can still make sense as part of a diversified dividend portfolio.

T. Rowe Price Group (TROW) — Financial Services

Looking at the five-year chart, T. Rowe Price clearly lagged the S&P 500 over this period. While the broader market delivered strong gains, TROW struggled through a prolonged downturn tied to weaker asset flows and pressure across the asset management sector.

How to Set 3 ETF Income Pillars in SnowBall Categories

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