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Price path indexed to 100: two index funds and their covered call counterparts, month ends

Answered against 22 years of US equities and 12 years of US options data and published with the query that produced it. This result is stored as of 2026-08-01, from Covered Call ETFs: the Real Tradeoff.

as of series 36×5read in context →
Price path indexed to 100: two index funds and their covered call counterparts, month ends — 36 rows by 5 columns, computed from US exchange, SIP and OPRA data.
monthnasdaq_fund_pricenasdaq_covered_call_pricesp500_fund_pricesp500_covered_call_price
2023-07100100100100
2023-0898.496.898.497.4
2023-0993.49393.494.1
2023-1091.492.191.492.3
2023-11101.394.599.794.2
2023-12106.796.2103.895.4
2024-01108.697.8105.596.3
2024-02114.49911197.2
2024-03115.799.4114.398.6
2024-04110.696.5109.796.4
2024-05117.797.2115.296.8
2024-06124.898118.997.7
2024-07122.797.4120.298
2024-08124.199.2123.199.8
2024-09127.1100125.4100.3
2024-10126.199.6124.298.9
2024-11132.8101.1131.6101.9
2024-12133.2101128101.3
2025-01136.1102.4131.5102.4
2025-02132.499.4129.8101
2025-03122.292.2122.195.4
2025-04123.990.4121.192.7
2025-05135.290.7128.892.7
2025-06143.792.713594.1
2025-07147.292.913894.1
2025-08148.692.3140.994.1
2025-09156.494.3145.595
2025-10163.996.714996.5
2025-11161.396.9149.397.5
2025-1216098148.998.3
2026-0116298.6151.198.5
2026-02158.397.6149.998.5
2026-03150.495.114294.7
2026-04173.999.8156.997.4
2026-05192.3100.3165.298.5
2026-06191.7102.216398.7
Rows × columns
36 × 5
Period covered
to
Computed
Completeness
No missing values
Source
US exchange, SIP and OPRA market data
Licence
Strasmore terms · free, no signup
Formats
JSON · CSV · the SQL below

What each column holds

Column definitions for Price path indexed to 100: two index funds and their covered call counterparts, month ends, derived from the stored result.
ColumnTypeRangeNotes
month date 2023-07 to 2026-06
nasdaq_fund_price number 91.4 to 192.3 US dollars
nasdaq_covered_call_price number 90.4 to 102.4 US dollars
sp500_fund_price number 91.4 to 165.2 US dollars
sp500_covered_call_price number 92.3 to 102.4 US dollars

Computed from Strasmore's warehouse of US exchange, SIP and OPRA market data. Equity prices are delayed; options greeks and implied volatility are end-of-day. This result is stored, not recomputed on load — it is exactly the numbers that were returned on , and the query below is what returned them.

the exact SQL behind every number
WITH px AS (
    SELECT toStartOfMonth(toDate(toTimeZone(window_start, 'America/New_York'))) AS m,
           ticker,
           argMax(close, window_start) AS price
    FROM global_markets.delayed_stocks_minute_aggs
    WHERE ticker IN ('QYLD', 'XYLD', 'QQQ', 'SPY')
      AND toDate(toTimeZone(window_start, 'America/New_York')) BETWEEN toDate('2023-07-01') AND toDate('2026-06-30')
      AND (toHour(toTimeZone(window_start, 'America/New_York')) * 60
           + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959
    GROUP BY m, ticker
),
base AS (
    SELECT ticker, argMin(price, m) AS p0
    FROM px
    GROUP BY ticker
)
SELECT formatDateTime(px.m, '%Y-%m') AS month,
       round(maxIf(px.price / base.p0 * 100, px.ticker = 'QQQ'), 1) AS nasdaq_fund_price,
       round(maxIf(px.price / base.p0 * 100, px.ticker = 'QYLD'), 1) AS nasdaq_covered_call_price,
       round(maxIf(px.price / base.p0 * 100, px.ticker = 'SPY'), 1) AS sp500_fund_price,
       round(maxIf(px.price / base.p0 * 100, px.ticker = 'XYLD'), 1) AS sp500_covered_call_price
FROM px
INNER JOIN base ON px.ticker = base.ticker
GROUP BY px.m
ORDER BY px.m

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