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Covered Call ETFs: A Tax Catch for Boomers Seeking Monthly Income
While covered call ETFs are widely adopted by baby boomers for their promise of monthly income, they carry significant tax implications that can surprise investors. For instance, the JPMorgan Equity Premium Income ETF (JEPI) has a three-year tax cost ratio of 3.11%, meaning after-tax returns are reduced by over 3 percentage points annually for investors in the highest tax brackets. The JPMorgan Nasdaq Equity Premium Income ETF (JEPQ) shows a 4.30% ratio, while the Neos S&P 500(R) High Income ETF (SPYI) is at 0.48%.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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