QQQI’s 14% Yield Loses Its Only Tax Break Inside an IRA: Every Dollar Comes Out as Ordinary Income

QQQI's 14% yield is largely based on return-of-capital distributions, a tax perk that holds no value inside an IRA where tax deferral already exists. While QQQ returned 23% over the past year, QQQI delivered only 17%, demonstrating the options overlay significantly caps upside beyond the fee drag. IRA investors seeking Nasdaq-100 covered-call income might find better options in JEPQ or GPIQ, where the fee becomes the dominant factor once tax character disappears.