Ep. 99: The Yield Truth — Is the Income Real? QQQI's 97% ROC, SCHD vs the S&P, Realty Income, and Pfizer's 7%

6 dividend/income sources on one throughline (is the income real / what's under the hood of the yield). (1) Our QQQI piece — 97% of the distribution is return of capital, but NAV has held since Jan-2024 inception, so it's tax-engineered ROC not erosion; contrast QYLD's NAV bleed; QQQI still full Nasdaq downside + capped upside. (2) SCHD trouncing the S&P in 2026 — SCHD ~18% YTD vs S&P ~8% (Russell 1000 Value ~17%), 0.06% ER, Dow Jones US Dividend 100 basket, value-over-growth rotation. (3) Realty Income (O) — biggest net-lease REIT, AFFO $1.13 (+6.6% QoQ), payout 71.9% (down from 83% a decade ago), 98.9% occupancy, monthly aristocrat, A- rating, pivoting into data centers ($1.44B/45% NoVA stake); honest counterweight = total-return lag vs VNQ/SCHD/SPY from rate sensitivity + size. (4) Pfizer (PFE) 7.1% yield (up from 6.5%), $0.43 quarterly flat 4 quarters, Q1 rev $14.45B (+5%) but operating income -5% — protecting not raising the payout; TIKR $28 by 2030 (~3%/yr) = potential yield trap. (5) Rico — 3 structural reasons advisors won't touch 10-30% yield ETFs (AUM fee incentives, 3yr/AUM compliance lag, career risk). (6) Individual dividend stocks that can hold their own vs SCHD (~13% 10yr annualized).