RZV Dividend Type Payments

Although RZV has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on Invesco S&P Smallcap 600 Pure Value ETF to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Fri 4:16 PM ET):

Invesco S&P Smallcap 600 Pure Value ETF (RZV)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
104.27	116.86	110.84	-1.10	5K	-	0.2B

RZV Dividend-Like Income Using Covered Calls

With RZV at 110.84, here's a table showing how big the annual "dividend" (i.e. total annual call premium received) would need to be to attain 3%, 5%, and 10% annual yields. Also shown is the equivalent number of cents/day necessary to achieve each yield:

Annual Yield	Annual Premium	Cents/Day
3%	3.33	0.9
5%	5.54	1.5
10%	11.08	3.0

So now we need to find out of the money covered calls that pay at least the prescribed cents/day amount of time premium. That will generate income and, because they are out of the money, leave room for some upside potential on the stock. Here are some examples:

3% Yield On RZV Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Sep 19	117.00	1.40	71	2.0	0.14 (0.1%)

5% Yield On RZV Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Sep 19	117.00	1.40	71	2.0	0.14 (0.1%)

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