NUSI Dividend Calculator
Dividend growth rate not yet measurable from available history.
| Year | Yield | Div / share | Annual income | Yield on cost | Cumulative income | Portfolio value | Shares |
|---|---|---|---|---|---|---|---|
| 1 | 7.2% | $4.03 | $752.00 | 6.1% | $752.00 | $13,729 | 244.12 |
| 2 | 7.3% | $4.31 | $1,052 | 7.1% | $1,804 | $17,952 | 304.01 |
| 3 | 7.4% | $4.61 | $1,402 | 8.2% | $3,206 | $22,744 | 366.82 |
| 4 | 7.6% | $4.93 | $1,810 | 9.2% | $5,016 | $28,194 | 433.06 |
| 5 | 7.7% | $5.28 | $2,286 | 10.4% | $7,302 | $34,404 | 503.29 |
| 6 | 7.9% | $5.65 | $2,843 | 11.7% | $10,145 | $41,495 | 578.12 |
| 7 | 8.0% | $6.04 | $3,494 | 13.0% | $13,640 | $49,608 | 658.24 |
| 8 | 8.2% | $6.47 | $4,257 | 14.6% | $17,897 | $58,908 | 744.43 |
| 9 | 8.3% | $6.92 | $5,152 | 16.3% | $23,049 | $69,590 | 837.53 |
| 10 | 8.5% | $7.40 | $6,202 | 18.2% | $29,251 | $81,881 | 938.53 |
Year 1-10 dividend income (preview)
Based on a $10,000 initial investment with $200.00 monthly contributions, DRIP on.
Historical dividends per share
Recent dividends
| Ex-date | Cash amount | TTM yield | Fwd yield | Share price |
|---|---|---|---|---|
| 2024-12-24 | $0.38 | 6.8% | 8.6% | $53.18 |
| 2024-11-20 | $0.37 | 7.3% | 8.7% | $51.58 |
| 2024-10-23 | $0.33 | 7.3% | 7.9% | $50.54 |
| 2024-09-25 | $0.33 | 6.6% | 7.9% | $50.98 |
| 2024-08-21 | $0.33 | 7.1% | 7.9% | $49.84 |
| 2024-06-26 | $0.33 | 6.9% | 7.8% | $50.46 |
| 2024-05-22 | $0.31 | 7.8% | 7.9% | $47.72 |
| 2024-04-24 | $0.30 | 8.0% | 7.8% | $45.72 |
| 2024-03-20 | $0.31 | 7.7% | 7.8% | $46.94 |
| 2024-02-22 | $0.30 | 7.7% | 7.8% | $46.40 |
| 2024-01-24 | $0.30 | 7.6% | 7.8% | $46.06 |
| 2023-12-20 | $0.29 | 7.8% | 7.9% | $44.32 |
Source: Polygon.io. Last 12 dividend distributions, most recent first. TTM yield = sum of last 12 months of payments ÷ share price on ex-date. Forward yield = this payment × detected payout frequency ÷ share price on ex-date.
About NUSI
NUSI — the Nationwide Risk-Managed Income ETF — is a Nasdaq-100 income fund issued by Nationwide that overlays a protective collar on top of the underlying equity exposure. The collar structure is the defining feature of the fund. NUSI holds the full Nasdaq-100 equity basket (effectively QQQ-equivalent exposure), writes at-the-money or near-the-money index call options against the entire position (collecting premium as the income source), and simultaneously buys out-of-the-money index put options (paying premium as the cost of downside protection). The combination of long Nasdaq-100 equity, short at-the-money call, and long out-of-the-money put is the standard "collar" position: limited upside (capped by the short call's strike), limited downside (floored by the long put's strike), and a defined cash flow each cycle equal to the call premium collected minus the put premium paid plus the underlying basket's price action within the collar boundaries.
The collar mechanics distinguish NUSI from the simpler covered-call ETFs. NUSI holds long Nasdaq-100 + short at-the-money call + long OTM put — this combination produces a position with limited upside AND limited downside. Compare to QYLD, which is long Nasdaq-100 + short at-the-money call only — no protective put, no downside floor, and the structural NAV-erosion pattern that characterizes mechanical at-the-money covered-call strategies in declining markets. Compare also to JEPQ, which uses an actively-managed equity-linked-note structure with selective covered-call writing on a Nasdaq-tilted equity sleeve, no protective put, and discretionary strike selection — JEPQ retains more upside than QYLD does and has lower headline yield, but no explicit downside floor. NUSI's protective put is the structural feature that buys downside protection at the cost of the put premium, which in turn reduces the net premium-income available for monthly distribution and produces a lower headline yield than QYLD. The trade-off is income for protection: NUSI gives up some of QYLD's premium yield to fund the put-protection sleeve.
The structural consequence in different market environments follows directly from the collar geometry. In a strong Nasdaq bull market, NUSI's short call leg caps upside near the strike (similar to QYLD), the long put leg expires worthless out-of-the-money (the put premium paid is the realized cost of the protection that month, with no offsetting protection benefit), and the net result is capped upside with some net premium income depending on whether the call premium received exceeded the put premium paid. The NAV rises modestly. In a flat or sideways Nasdaq window, both legs of the collar tend to expire near worthless, the net realized premium (call premium minus put premium) is the dominant cash-flow source, and the NAV holds roughly steady — this is NUSI's design-point environment. In a Nasdaq drawdown, the short call leg's expiration is favorable (premium fully retained), and critically the long put leg becomes valuable as the index declines through the put strike — the put provides a floor on the basket's decline, and below the put strike the position's losses are bounded. The collar's downside-protection feature is its key value proposition, and it shows up most visibly in sharp market corrections (Q1 2020, Q4 2018) where pure-Nasdaq positions lost meaningfully more than NUSI did because the long-put protection kicked in. Yield is lower than QYLD but the drawdown protection in market crashes is meaningful.
How NUSI pays distributions
NUSI distributes monthly. The ex-dividend date typically falls in the third or fourth week of each calendar month, with the pay date following a few business days later. The per-share cash amount each month is the net option premium realized from the collar overlay (call premium collected minus put premium paid) plus any net underlying-basket dividend income (the Nasdaq-100 basket's underlying dividend yield is small but non-zero). The aggregate annual distribution typically corresponds to a forward yield in the seven-to-eight-percent range on NAV, varying with the implied-volatility environment on the Nasdaq-100 at each monthly cycle. Higher implied volatility produces both richer call premiums (favorable for income) and more expensive put premiums (unfavorable for income); the net effect on monthly distribution depends on the volatility-skew dynamics. In normal volatility regimes the net premium is meaningfully positive and supports the monthly distribution; in extreme low-volatility windows the net premium can compress and the distribution can trim accordingly.
NUSI's distribution composition is largely ordinary income from option-premium-related short-term gains and option-premium accruals, with some component of qualified dividends from the underlying Nasdaq-100 equity basket (where the holding period rules are satisfied), and potentially small components of return of capital depending on the fund's realized gains and losses across the year. The year-end 1099-DIV reports the exact split, and the relative proportions shift year to year depending on the overlay's realized outcomes and on the fund's tax management inside the wrapper. For taxable-account holders in middle and upper marginal brackets, the ordinary-income component of NUSI's distribution produces a meaningful tax drag on the after-tax yield. Tax-advantaged accounts (IRA, Roth IRA, 401(k)) sidestep the character question entirely.
The expense ratio on NUSI is moderate-to-high among options-overlay income ETFs — higher than the lowest-cost passive Nasdaq exposure (QQQM is the cheapest pure-passive route to Nasdaq-100) and roughly comparable to other options-overlay funds (QYLD, JEPQ). The expense compounds against the holder over multi-decade horizons. The fund's track record across multiple market regimes — particularly the Q1 2020 COVID drawdown and the 2022 rate-shock drawdown — has demonstrated the collar's downside-protection feature in practice; NUSI's NAV decline in those windows was meaningfully less severe than QQQ's or QYLD's, validating the structural design at the cost of the upside-cap and net-premium-cost trade-offs that the collar imposes during bull and flat regimes.
Who NUSI suits
NUSI suits investors who want Nasdaq-100 income exposure with explicit downside protection, prefer monthly cash flow, and accept the lower headline yield (relative to QYLD) and the upside cap as the cost of the protective-put sleeve. The fund is appropriate for income-seeking holders who are unwilling to accept the full drawdown risk of pure-Nasdaq exposure or of the QYLD covered-call-only structure, and who value the collar's defined-risk geometry as a risk-management tool rather than as a yield-maximization vehicle. The natural holder is a Nasdaq-income investor who weighted drawdown protection above the marginal yield difference — someone who would rather have NUSI's lower-but-protected monthly income than QYLD's higher-but-unprotected monthly income.
NUSI versus QYLD versus JEPQ is the comparison that maps the Nasdaq-options-overlay-income ETF universe. QYLD is the pure mechanical covered-call reference point — at-the-money one-month index calls written on the full basket every month, no protective put, maximum mechanical premium yield, structural NAV-erosion risk in declining markets because the call premium does not offset large drawdowns. JEPQ is the active-management alternative — a Nasdaq-tilted equity sleeve (not the full index) with covered calls written through equity-linked notes at strike levels selected by the JPMorgan portfolio team, no protective put, designed to retain more upside than mechanical at-the-money writing. NUSI is the collar variant — full Nasdaq-100 basket with both short call and long put overlays, designed to bound both upside and downside in exchange for a lower net premium yield than the no-put alternatives. Yield ranking typically runs QYLD highest, JEPQ middle, NUSI lowest; drawdown-protection ranking runs in the opposite order. Investors choose among the three based on where they want to sit on the yield-versus-protection trade-off and on whether they value active manager discretion (JEPQ) versus mechanical rule transparency (QYLD, NUSI).
The dividend calculator on this page models NUSI with the current forward yield and a chosen DGR. Given the option-overlay-dependent nature of the distribution and the lack of structural growth driver in the per-share monthly amount, a conservative DGR (zero or slightly negative) is more defensible than a positive single-digit assumption for long-horizon planning. The calculator output is a useful approximation of the monthly cash flow over the holding window provided this assumption is kept conservative.
Hypothetical scenarios
Scenario 1: $50,000 in NUSI for monthly income with collar protection and DRIP
Consider a hypothetical position of $50,000 in NUSI, held for monthly income with DRIP enabled. At a forward yield in the seven-to-eight-percent range against the current per-share monthly rate, the starting annualized cash distribution on $50,000 is roughly $3,500 to $4,000, paid in twelve monthly installments of approximately $290 to $335 each. With DRIP on, the reinvested monthly distributions purchase additional shares at the prevailing price on each pay date, and the share count compounds across twelve reinvestment events per year. The monthly cadence supports steady share-count accumulation across normal-volatility windows, and the collar overlay's net-premium economics determine whether the monthly per-share amount lands at the upper or lower end of the typical range each cycle.
The structural value proposition of NUSI is that the collar provides explicit downside protection in exchange for a lower headline yield than pure covered-call funds like QYLD. The long out-of-the-money put leg of the collar costs premium each cycle (deducting from the net option income available for distribution), but provides a defined floor on the Nasdaq-100 basket's downside through the put strike. In normal-volatility, flat-to-modestly-rising Nasdaq environments, the collar's economics are favorable — the call premium collected exceeds the put premium paid by a meaningful margin, the net premium feeds the monthly distribution, and the protective-put cost is the realized cost of insurance that did not have to be used. In strong-bull Nasdaq windows, the upside is capped by the short call leg (similar to QYLD), and the put expires worthless (the put premium is the realized cost of insurance, which in retrospect was unnecessary for that month). In Nasdaq drawdowns, the put becomes valuable as the index declines through the put strike — the put-protection benefit accrues to the fund's NAV and shows up in the realized total return through a less-severe NAV decline than a QYLD or pure-Nasdaq position would experience.
The illustrative compounding picture across a five-year window depends on the path of the underlying Nasdaq-100 index over that window. In a balanced volatility environment with one or two meaningful drawdowns and one or two strong bull periods, NUSI's protected NAV trajectory produces a more stable compounding picture than QYLD — the share count compounds steadily via DRIP, the per-share monthly distribution is typically lower than QYLD's but more stable across the cycle, and the realized total return through the cycle is bounded both above (by the short calls) and below (by the long puts). In a sustained Nasdaq bull window with limited drawdowns, NUSI's upside cap and put-protection cost combine to produce a meaningfully lower total return than pure Nasdaq exposure (QQQ); the protective put is paying a recurring cost that was not realized as a benefit. In a Nasdaq bear or sustained-drawdown window, NUSI's collar protection limits NAV decline meaningfully relative to QYLD or pure Nasdaq exposure, and the share count compounds at lower prices via DRIP — which can favor long-term recovery on subsequent rallies.
The honest planning takeaway is that NUSI's calculator output represents a reasonable approximation of the monthly cash flow over multi-year horizons, with the structural reminder that NUSI's value is concentrated in protected-return-shape outcomes rather than maximum yield. A conservative DGR assumption (zero or slightly negative) is more defensible than a positive single-digit assumption given the option-overlay-dependent nature of the per-share distribution. Investors planning around NUSI should view the calculator as an income-stream model and run separate scenarios for the protected-NAV trajectory across different market environments.
Scenario 2: NUSI versus QYLD versus JEPQ — the Nasdaq-options-overlay-income trade-off
Consider the structural comparison among the three Nasdaq-options-overlay income ETFs at the same starting capital and contribution pattern. The three funds occupy three distinct positions on the yield-versus-protection trade-off and on the active-versus-mechanical-versus-collar trade-off, and running the calculator across all three with the same dollar inputs produces three distinct projected income lines that illustrate the methodology differences in concrete terms.
QYLD is the mechanical at-the-money covered-call reference point. It holds the full Nasdaq-100 basket, writes at-the-money one-month index calls every month, has no protective put, and accepts the structural NAV-erosion pattern that develops over multi-year horizons in a Nasdaq market with positive drift. The headline yield runs the highest of the three (typically in the low double digits), the upside is fully capped by the short calls, and there is no downside floor — the fund declines in line with the underlying basket minus the call-premium offset. In bull markets, NAV erodes meaningfully relative to QQQ; in flat markets, the fund operates near its design point; in bear markets, the fund declines (the call premiums cushion but do not floor the decline). The calculator output at QYLD's higher starting yield with a zero DGR produces an income line that starts highest among the three but typically does not grow over the horizon.
JEPQ is the actively managed alternative. It holds a Nasdaq-tilted equity sleeve (not the full index) and writes covered calls through equity-linked notes at strike levels selected by the JPMorgan portfolio team. The strategy is designed to retain more upside than mechanical at-the-money writing by selecting strikes above-the-money and managing notional coverage discretionarily, and there is no protective put. The headline yield typically runs in the middle of the three (high single digits to low double digits depending on the volatility regime), the upside is partially retained beyond the strike levels chosen by the active team, and there is no explicit downside floor. The calculator output at JEPQ's middle starting yield with a low-single-digit DGR produces an income line in the middle of the three.
NUSI is the collar variant. It holds the full Nasdaq-100 basket, writes at-the-money or near-the-money calls (similar to QYLD), and buys out-of-the-money puts (unlike QYLD or JEPQ). The collar bounds both upside and downside, the protective-put cost reduces the net premium available for monthly distribution, and the realized outcome in different market environments depends on the put-strike level and on the path of the underlying index relative to that strike. The headline yield runs the lowest of the three (typically in the seven-to-eight-percent range), the drawdown protection in market corrections is meaningful (NUSI declined less than QYLD or QQQ in Q1 2020 and in the 2022 rate-shock window), and the put-protection cost is a recurring drag in bull and flat environments. The calculator output at NUSI's lower starting yield with a zero DGR produces an income line that starts lowest among the three but with the structural feature of better NAV preservation in drawdown environments.
The structural lesson is that the three funds occupy three points on the same yield-versus-protection trade-off within the Nasdaq-options-overlay-income segment. QYLD maximizes headline yield at the cost of no downside protection and full upside cap. JEPQ moderates the headline-yield-for-upside trade through active selective covered-call writing without downside protection. NUSI bounds both ends of the return distribution through the explicit collar, accepting the lowest headline yield in exchange for the protective put. Investors choosing among the three are choosing on yield-versus-protection preferences, not on income-versus-growth or active-versus-passive. The cumulative cash collected over a multi-year window depends on which environment the holding period encounters — flat-to-modestly-rising markets favor the higher-yield mechanical funds, drawdown-heavy periods favor the protective-collar fund, sustained bull markets favor the more upside-retaining selective funds. Investors who weight income level should weight QYLD more; investors who want active discretion with retained upside should weight JEPQ more; investors who want explicit downside protection with monthly income should weight NUSI more. Educational only; not a forecast.
Sources & methodology
Dividend history and price data come from Polygon.io's reference and aggregates endpoints. Forward yield is computed as the sum of the most recent four cash distributions divided by the previous-close share price. The dividend growth rate shown on this page is the compound annual growth rate of total annual distributions across the available history in this snapshot.
Last updated: 2026-05-15.
Information here is for educational purposes only and does not constitute investment advice. Past dividend history does not guarantee future payments. Verify all figures with the issuer or a registered financial advisor before making investment decisions.