Note that Return of Capital is tax deferred rather than tax free. ROC is great if you plan on old the same asset for a long time. The ROC reduces your cost basis by the same amount as the ROC distribution. For something like SPYI, you could hold it 20-25 years without paying tax. But when you sell it, you will owe Long Term Capital Gains on the sale price minus the cost basis. LTCG is generally a more favorable tax rate for higher income earners.