NIHI is an actively managed covered call ETF on the EAFE segment with a premium-generating strategy. NIHI (today) overlays options on 60%+ of its IEFA holdings, boosting yield but capping upside; this structure thrives if implied volatility rises and capital returns stagnate. Peer comparison favors IDVO for lower overlay and greater price appreciation, but NIHI could outperform if volatility and option premiums increase in sideways markets.