Retirees -- Opinions? Experiences? Is 14% Div Too Good To Be True? [View all]

Not looking to give or received financial advice -- just to share experiences.

I am approaching retirement and looking for investments which provide monthly income without selling or reducing the principal. I have done well with QYLD, an older ETF (started in 2015) which rents stocks to options traders via covered calls. It paid 12% and appreciated by 6% over the last year.

A new fund started in 2024 which uses the same strategy but also uses Section 1256 contracts which reduce tax liability by using ROC (return of capital). The fund is QQQI. Yield is 13.8% and NAV grew by 4.5%.

https://neosfunds.com/qqqi/

I generally understand and accept that 7 to 8% annual is considered an average and safe rate of returns so I am concerned when I see a fund offering nearly twice that. But I also believe that covered calls are one of the safest plays in the market -- they are just too complex and cumbersome for an individual trader to execute well and that for me is the appeal of these ETFs.

What other choices should I be looking at?
Any experiences with these kinds of funds?
What has worked or not worked for you?