This Yield International ETF Combines Overseas Blue Chips And A Covered-Call Paycheck

Omor Ibne Ehsan

Tue, May 19, 2026 at 11:42 AM EDT 4 min read

Quick Read

• Amplify CWP International Enhanced Dividend Income ETF (IDVO) returned 38.69% over the past year, roughly doubling the 21.15% return of the iShares MSCI EAFE ETF (EFA), by pairing high-quality international ADRs with tactical covered calls that generate monthly distributions currently around $0.21 per share. Global X NASDAQ 100 Covered Call ETF (QYLD) caps upside with full index call writing, while IDVO limits calls to individual securities.

• American investors historically underweight international stocks, and IDVO addresses this by combining the higher dividend yields of foreign blue chips with monthly income through selective covered call strategies.

• The analyst who called NVIDIA in 2010 just named his top 10 stocks and Amplify CWP International Enhanced Dividend Income ETF wasn't one of them. Get them here FREE.

American investors have a long, painful history of underweighting international stocks. The pitch for IDVO is that it solves two of those underweight excuses at once. The income from foreign blue chips already runs higher than the S&P 500's, and a covered-call overlay turns that base yield into something closer to a monthly paycheck. IDVO's recent run, where it has roughly doubled the return of the standard MSCI EAFE benchmark, is making the pitch harder to ignore.

The Amplify CWP International Enhanced Dividend Income ETF's (NYSEARCA:IDVO) sub-advisor is Capital Wealth Planning, the same shop behind the better-known U.S.-focused Amplify CWP Enhanced Dividend Income ETF (NYSEARCA:DIVO). It charges 0.65% in expenses, and has gathered roughly $445 million in net assets. Its stated objective is current income first, capital appreciation second, benchmarked to the MSCI AC World Index Ex USA Net Index.

The job IDVO is hired to do

Think of IDVO as a one-ticker answer to the question, "how do I get paid to own Nestle, Novartis, and Toyota?" The portfolio is an active sleeve of high-quality ADRs from outside the U.S., and the manager writes covered calls tactically on individual names rather than blanketing the whole book. It pairs ADRs from outside the U.S. with a tactical covered call strategy on individual securities, which is a meaningful design choice.

The analyst who called NVIDIA in 2010 just named his top 10 stocks and Amplify CWP International Enhanced Dividend Income ETF wasn't one of them. Get them here FREE.

Moreover, there's a return engine with three parts. You collect dividends from the underlying ADRs, you pocket option premium on the names where the manager chooses to write calls, and you keep most of the capital appreciation on the names left uncalled. That tactical part matters. A fund like the Global X NASDAQ 100 Covered Call ETF (NASDAQ:QYLD) writes calls on the entire index every month and caps almost all upside in exchange for fat premium. IDVO is closer to a dividend portfolio with an income kicker than a yield-maxed options product.