{"slug":"return-of-capital-in-etf-distributions","qid":"price_index","label":"Share price indexed to 100, three covered call ETFs, monthly","post_title":"Return of Capital in ETF Distributions","post_url":"/blog/return-of-capital-in-etf-distributions#q-price_index","columns":["month","qyld_price_index","xyld_price_index","ryld_price_index"],"rows":[{"month":"2021-09","qyld_price_index":100,"xyld_price_index":100,"ryld_price_index":100},{"month":"2021-10","qyld_price_index":103.5,"xyld_price_index":103.8,"ryld_price_index":101.4},{"month":"2021-11","qyld_price_index":102,"xyld_price_index":101.5,"ryld_price_index":97.5},{"month":"2021-12","qyld_price_index":100.8,"xyld_price_index":104.3,"ryld_price_index":98.2},{"month":"2022-01","qyld_price_index":94.2,"xyld_price_index":100.6,"ryld_price_index":91.7},{"month":"2022-02","qyld_price_index":91.3,"xyld_price_index":98.8,"ryld_price_index":93.3},{"month":"2022-03","qyld_price_index":95.1,"xyld_price_index":102,"ryld_price_index":95.7},{"month":"2022-04","qyld_price_index":87.6,"xyld_price_index":95.9,"ryld_price_index":88.9},{"month":"2022-05","qyld_price_index":81.8,"xyld_price_index":91.5,"ryld_price_index":85.7},{"month":"2022-06","qyld_price_index":79.4,"xyld_price_index":88,"ryld_price_index":82.5},{"month":"2022-07","qyld_price_index":83.6,"xyld_price_index":90.3,"ryld_price_index":85.2},{"month":"2022-08","qyld_price_index":77.4,"xyld_price_index":85,"ryld_price_index":80.3},{"month":"2022-09","qyld_price_index":71,"xyld_price_index":78.7,"ryld_price_index":74.2},{"month":"2022-10","qyld_price_index":73.3,"xyld_price_index":82.4,"ryld_price_index":78.7},{"month":"2022-11","qyld_price_index":75.3,"xyld_price_index":83.1,"ryld_price_index":78.7},{"month":"2022-12","qyld_price_index":72.2,"xyld_price_index":81.2,"ryld_price_index":75.7},{"month":"2023-01","qyld_price_index":76.6,"xyld_price_index":83.7,"ryld_price_index":77.8},{"month":"2023-02","qyld_price_index":74.4,"xyld_price_index":82.6,"ryld_price_index":76.9},{"month":"2023-03","qyld_price_index":77.9,"xyld_price_index":83.4,"ryld_price_index":72.4},{"month":"2023-04","qyld_price_index":78.5,"xyld_price_index":83.5,"ryld_price_index":72.2},{"month":"2023-05","qyld_price_index":80,"xyld_price_index":83.7,"ryld_price_index":71.8},{"month":"2023-06","qyld_price_index":80.6,"xyld_price_index":84.6,"ryld_price_index":72.8},{"month":"2023-07","qyld_price_index":81.8,"xyld_price_index":85.2,"ryld_price_index":73.3},{"month":"2023-08","qyld_price_index":79.2,"xyld_price_index":83,"ryld_price_index":70.7},{"month":"2023-09","qyld_price_index":76.1,"xyld_price_index":80.1,"ryld_price_index":68.6},{"month":"2023-10","qyld_price_index":75.4,"xyld_price_index":78.7,"ryld_price_index":64.7},{"month":"2023-11","qyld_price_index":77.4,"xyld_price_index":80.3,"ryld_price_index":66.9},{"month":"2023-12","qyld_price_index":78.7,"xyld_price_index":81.3,"ryld_price_index":67.3},{"month":"2024-01","qyld_price_index":80,"xyld_price_index":82,"ryld_price_index":65.7},{"month":"2024-02","qyld_price_index":81,"xyld_price_index":82.8,"ryld_price_index":66.5},{"month":"2024-03","qyld_price_index":81.4,"xyld_price_index":84,"ryld_price_index":68},{"month":"2024-04","qyld_price_index":79,"xyld_price_index":82.2,"ryld_price_index":65.6},{"month":"2024-05","qyld_price_index":79.5,"xyld_price_index":82.5,"ryld_price_index":65.5},{"month":"2024-06","qyld_price_index":80.2,"xyld_price_index":83.2,"ryld_price_index":64.5},{"month":"2024-07","qyld_price_index":79.7,"xyld_price_index":83.5,"ryld_price_index":65.3},{"month":"2024-08","qyld_price_index":81.2,"xyld_price_index":85,"ryld_price_index":65},{"month":"2024-09","qyld_price_index":81.9,"xyld_price_index":85.5,"ryld_price_index":65},{"month":"2024-10","qyld_price_index":81.5,"xyld_price_index":84.2,"ryld_price_index":64.4},{"month":"2024-11","qyld_price_index":82.7,"xyld_price_index":86.8,"ryld_price_index":67.2},{"month":"2024-12","qyld_price_index":82.7,"xyld_price_index":86.3,"ryld_price_index":65.7},{"month":"2025-01","qyld_price_index":83.8,"xyld_price_index":87.3,"ryld_price_index":66.7},{"month":"2025-02","qyld_price_index":81.4,"xyld_price_index":86.1,"ryld_price_index":64.6},{"month":"2025-03","qyld_price_index":75.5,"xyld_price_index":81.3,"ryld_price_index":60.7},{"month":"2025-04","qyld_price_index":74,"xyld_price_index":79,"ryld_price_index":58.3},{"month":"2025-05","qyld_price_index":74.3,"xyld_price_index":78.9,"ryld_price_index":58.3},{"month":"2025-06","qyld_price_index":75.9,"xyld_price_index":80.2,"ryld_price_index":60},{"month":"2025-07","qyld_price_index":76,"xyld_price_index":80.1,"ryld_price_index":59.1},{"month":"2025-08","qyld_price_index":75.6,"xyld_price_index":80.2,"ryld_price_index":60.8},{"month":"2025-09","qyld_price_index":77.2,"xyld_price_index":80.9,"ryld_price_index":60.5},{"month":"2025-10","qyld_price_index":79.1,"xyld_price_index":82.2,"ryld_price_index":62},{"month":"2025-11","qyld_price_index":79.3,"xyld_price_index":83,"ryld_price_index":61.7},{"month":"2025-12","qyld_price_index":80.2,"xyld_price_index":83.7,"ryld_price_index":61.6},{"month":"2026-01","qyld_price_index":80.7,"xyld_price_index":83.9,"ryld_price_index":62.1},{"month":"2026-02","qyld_price_index":79.9,"xyld_price_index":83.9,"ryld_price_index":63},{"month":"2026-03","qyld_price_index":77.8,"xyld_price_index":80.6,"ryld_price_index":60.2},{"month":"2026-04","qyld_price_index":81.6,"xyld_price_index":83,"ryld_price_index":62.1},{"month":"2026-05","qyld_price_index":82.1,"xyld_price_index":83.9,"ryld_price_index":63.4},{"month":"2026-06","qyld_price_index":83.6,"xyld_price_index":84.1,"ryld_price_index":64.3},{"month":"2026-07","qyld_price_index":80.5,"xyld_price_index":84.8,"ryld_price_index":64.4}],"shape":"series","sql":"WITH monthly AS\n(\n    SELECT\n        ticker,\n        toStartOfMonth(toTimeZone(window_start, 'America/New_York')) AS month_start,\n        argMax(toFloat64(close), window_start)                       AS month_close\n    FROM global_markets.delayed_stocks_minute_aggs\n    WHERE ticker IN ('QYLD', 'XYLD', 'RYLD')\n      AND window_start >= toDateTime('2021-09-01 04:00:00')\n      AND window_start <  toDateTime('2026-08-01 04:00:00')\n      AND (toHour(toTimeZone(window_start, 'America/New_York')) * 60\n           + toMinute(toTimeZone(window_start, 'America/New_York'))) >= 570\n      AND (toHour(toTimeZone(window_start, 'America/New_York')) * 60\n           + toMinute(toTimeZone(window_start, 'America/New_York'))) < 960\n    GROUP BY ticker, month_start\n),\nbase AS\n(\n    SELECT\n        ticker,\n        argMin(month_close, month_start) AS base_close\n    FROM monthly\n    GROUP BY ticker\n)\nSELECT\n    formatDateTime(m.month_start, '%Y-%m')                                  AS month,\n    round(100 * sumIf(m.month_close / b.base_close, m.ticker = 'QYLD'), 1)  AS qyld_price_index,\n    round(100 * sumIf(m.month_close / b.base_close, m.ticker = 'XYLD'), 1)  AS xyld_price_index,\n    round(100 * sumIf(m.month_close / b.base_close, m.ticker = 'RYLD'), 1)  AS ryld_price_index\nFROM monthly AS m\nINNER JOIN base AS b ON b.ticker = m.ticker\nGROUP BY m.month_start\nORDER BY m.month_start","computed_at":"2026-08-22T04:18:42.917815+00:00","elapsed":10.396414379}