S&P 500 Covered Call ETF - Global X ETFs - Australia
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UYLD

S&P 500 Covered Call ETF

Invest in UYLD
Overview Performance Holdings & Characteristics Research Documents Announcements FAQs

Reasons to Consider UYLD

High Income Potential

UYLD seeks to generate income through covered call writing, which historically produces higher yields in periods of volatility.

Efficient Options Execution

UYLD writes call options on the S&P 500 Index, saving investors the time and potential expense of doing so individually.

Potential Downside Mitigation

The premiums UYLD generates may partly cushion drawdowns.

Product Information As of 8 Dec 2023

Inception Date 30 Jan 2023
Management Costs (% p.a.) 0.60
Currency Hedged No
Domicile Australia
Legal Form Managed Investment Scheme
SMSF Eligible Yes

NAV Information As of 8 Dec 2023

NAV/Unit (A$) 10.51900000
Currency (NAV) AUD
Shares Outstanding 110,196
AUM (A$) 1,159,151.92

Product Summary

The Global X S&P 500 Covered Call ETF (UYLD) follows a “covered call” or “buy-write” strategy, in which the fund buys the stocks in the S&P 500 Index and “writes” or “sells” corresponding call options on the same index to generate income.

Product Objective

UYLD seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Cboe S&P 500 BuyWrite Index. The Cboe S&P 500 BuyWrite Index measures the total return of a hypothetical “covered call” strategy applied to the S&P 500 Composite Price Index (the “S&P 500® Index”). The “long” S&P 500 Index component and the “short” Covered Call Option component are held in equal notional amounts.

Trading Details

Ticker UYLD
Bloomberg Code UYLD AU Equity
ISIN AU0000251860
Trading Hours 10:00AM – 4:00PM

Management & Administration

Issuer Global X Management (AUS) Limited
Custodian The Hongkong and Shanghai Banking Corporation Limited, Sydney Branch
Registrar Computershare Investor Services Pty Limited
Trustee Global X Management (AUS) Limited

Benchmark Information

Benchmark Cboe S&P 500 BuyWrite Index
Provider S&P Dow Jones Indices, LLC.

Distributions As of 31 Oct 2023

12-Month Yield 5.41%
12-Month Franking Level 0.00%
Distribution Frequency Monthly
Distribution History View

Performance Table As of 8 Dec 2023

Total Return (Fund) Total Return (Benchmark) Tracking Difference Tracking Error
1 Month -1.35% -1.21% -0.14% 0.18%
3 Months -3.74% -3.21% -0.54% 0.30%
1 Year -- -- -- --
3 Year p.a. -- -- -- --
5 Year p.a. -- -- -- --
10 Year p.a. -- -- -- --
Since Inception 11.91% 14.15% -2.24% 0.60%

Top Holdings As of 11 Dec 2023

Full Holdings (.xlsx)
Net Assets (%) Name SEDOL Market Price (Local) Shares Held Market Value (A$)
7.54 APPLE INC 2046251 195.71 294 87,428
7.29 MICROSOFT CORP 2588173 374.23 149 84,515
3.51 AMAZON.COM INC 2000019 147.42 182 40,669
3.07 NVIDIA CORP 2379504 475.06 49 35,638
2.10 ALPHABET INC-A BYVY8G0 134.99 119 24,317
1.94 META PLATFORMS-A B7TL820 332.75 44 22,457
1.81 ALPHABET INC-C BYY88Y7 136.64 101 20,940
1.76 TESLA INC B616C79 243.84 55 20,436
1.69 BERKSHIRE HATH-B 2073390 353.08 36 19,547
1.33 UNITEDHEALTH GRP 2917766 549.77 18 15,440
1.25 ELI LILLY & CO 2516152 598.05 16 14,478
1.21 JPMORGAN CHASE 2190385 158.52 58 13,976
1.07 VISA INC-CLASS A B2PZN04 255.74 32 12,457
1.07 BROADCOM INC BDZ78H9 944.30 9 12,423
1.05 EXXON MOBIL CORP 2326618 99.55 81 12,217
0.97 JOHNSON&JOHNSON 2475833 154.42 48 11,274
0.90 MASTERCARD INC-A B121557 412.16 17 10,386
0.90 PROCTER & GAMBLE 2704407 145.15 47 10,378
0.86 HOME DEPOT INC 2434209 326.47 20 9,955
0.73 ADOBE INC 2008154 610.01 9 8,413
0.71 COSTCO WHOLESALE 2701271 610.78 9 8,182
0.69 ABBVIE INC B92SR70 149.28 35 7,981
0.69 MERCK & CO 2778844 103.75 51 7,975
0.67 CHEVRON CORP 2838555 144.31 35 7,758
0.64 SALESFORCE INC 2310525 250.81 19 7,394
0.60 PEPSICO INC 2681511 165.68 27 6,907
0.60 COCA-COLA CO/THE 2206657 58.61 78 6,905
0.56 WALMART INC 2936921 150.86 28 6,515
0.56 BANK OF AMERICA 2295677 30.96 138 6,475
0.55 ACCENTURE PLC-A B4BNMY3 337.23 13 6,427
0.54 ADV MICRO DEVICE 2007849 128.92 32 6,298
0.54 MCDONALDS CORP 2550707 285.53 15 6,287
0.52 NETFLIX INC 2857817 453.76 9 6,073
0.51 CISCO SYSTEMS 2198163 48.38 81 5,964
0.51 LINDE PLC BNZHB81 401.33 10 5,924
0.49 THERMO FISHER 2886907 489.77 8 5,715
0.47 ABBOTT LABS 2002305 104.51 35 5,481
0.47 ORACLE CORP 2661568 113.61 31 5,409
0.47 INTEL CORP 2463247 42.70 83 5,408
0.45 COMCAST CORP-A 2044545 42.10 82 5,237
0.44 WALT DISNEY CO/T 2270726 92.82 36 5,133
0.44 WELLS FARGO & CO 2649100 46.10 73 5,095
0.42 PFIZER INC 2684703 28.78 112 4,910
0.42 VERIZON COMMUNIC 2090571 38.25 84 4,855
0.42 INTUIT INC 2459020 573.90 6 4,851
0.39 QUALCOMM INC 2714923 132.97 22 4,477
0.38 IBM 2005973 161.96 18 4,457
0.37 AMGEN INC 2023607 269.12 11 4,338
0.37 DANAHER CORP 2250870 217.49 13 4,311
0.37 SERVICENOW INC B80NXX8 699.08 4 4,308
0.37 TEXAS INSTRUMENT 2885409 157.03 18 4,307
0.37 NIKE INC -CL B 2640147 115.91 24 4,281
0.37 PHILIP MORRIS IN B2PKRQ3 91.31 31 4,279
0.36 UNION PAC CORP 2914734 229.77 12 4,229
0.36 BOEING CO/THE 2108601 244.70 11 4,180
0.35 S&P GLOBAL INC BYV2325 415.38 6 4,087
0.35 CONOCOPHILLIPS 2685717 112.07 24 4,053
0.34 CATERPILLAR INC 2180201 259.50 10 3,997
0.34 GENERAL ELECTRIC BL59CR9 120.59 22 3,961
0.34 HONEYWELL INTL 2020459 194.61 13 3,895
0.32 APPLIED MATERIAL 2046552 147.72 17 3,738
0.32 LOWE'S COS INC 2536763 207.83 12 3,672
0.31 AT&T INC 2831811 16.92 142 3,645
0.31 NEXTERA ENERGY 2328915 59.70 40 3,641
0.31 BOOKING HOLDINGS BDRXDB4 3,275.00 1 3,591
0.31 RTX CORP BM5M5Y3 81.32 29 3,567
0.30 GOLDMAN SACHS GP 2407966 350.83 7 3,493
0.29 ELEVANCE HEALTH BSPHGL4 477.97 5 3,405
0.29 UNITED PARCEL-B 2517382 156.30 14 3,405
0.29 STARBUCKS CORP 2842255 96.61 23 3,335
0.29 PROLOGIS INC B44WZD7 119.85 18 3,329
0.28 INTUITIVE SURGIC 2871301 310.42 7 3,278
0.27 MEDTRONIC PLC BTN1Y11 79.35 26 3,177
0.27 BLACKROCK INC 2494504 744.73 3 3,166
0.27 BRISTOL-MYER SQB 2126335 50.31 41 3,164
0.27 MORGAN STANLEY 2262314 82.28 25 3,161
0.27 TJX COS INC 2989301 89.13 23 3,083
0.26 LOCKHEED MARTIN 2522096 448.02 4 3,030
0.26 DEERE & CO 2261203 363.67 5 2,981
0.26 GILEAD SCIENCES 2369174 79.02 25 2,960
0.25 AMERICAN EXPRESS 2026082 168.43 12 2,947
0.25 STRYKER CORP 2853688 289.10 7 2,931
0.25 MONDELEZ INTER-A B8CKK03 71.09 27 2,909
0.25 MARSH & MCLENNAN 2567741 195.67 10 2,909
0.25 CVS HEALTH CORP 2577609 75.10 25 2,900
0.25 AMERICAN TOWER C B7FBFL2 206.45 9 2,891
0.25 SCHWAB (CHARLES) 2779397 64.07 29 2,863
0.25 AUTOMATIC DATA 2065308 229.27 8 2,844
0.24 PROGRESSIVE CORP 2705024 161.17 12 2,837
0.24 LAM RESEARCH 2502247 703.17 3 2,835
0.24 CITIGROUP INC 2297907 48.89 38 2,829
0.24 ANALOG DEVICES 2032067 184.88 10 2,789
0.24 EATON CORP PLC B8KQN82 232.31 8 2,788
0.24 CHUBB LTD B3BQMF6 222.91 8 2,756
0.24 PALO ALTO NETWOR B87ZMX0 298.42 6 2,740
0.23 VERTEX PHARM 2931034 350.15 5 2,710
0.23 REGENERON PHARM 2730190 840.14 2 2,700
0.22 ZOETIS INC B95WG16 184.60 9 2,548
0.22 T-MOBILE US INC B94Q9V0 156.40 11 2,523
0.22 SYNOPSYS INC 2867719 535.93 3 2,520
0.22 FISERV INC 2342034 132.36 13 2,514
0.22 BLACKSTONE INC BKF2SL7 112.57 15 2,494
0.21 MICRON TECH 2588184 74.96 22 2,468
0.21 SOUTHERN CO 2829601 71.50 22 2,431
0.21 BOSTON SCIENTIFC 2113434 54.95 29 2,415
0.21 BUNGE GLOBAL SA BQ6BPG9 104.50 15 2,405
0.20 THE CIGNA GROUP BHJ0775 258.80 6 2,301
0.20 CME GROUP INC 2965839 211.62 7 2,280
0.20 DUKE ENERGY CORP B7VD3F2 94.39 16 2,265
0.19 EQUINIX INC BVLZX12 801.77 2 2,247
0.19 KLA CORP 2480138 534.43 3 2,203
0.19 ALTRIA GROUP INC 2692632 41.30 35 2,198
0.18 CADENCE DESIGN 2302232 259.93 5 2,115
0.18 NORTHROP GRUMMAN 2648806 476.25 3 2,113
0.18 SCHLUMBERGER LTD 2779201 48.80 28 2,079
0.18 EOG RESOURCES 2318024 118.96 11 2,076
0.18 SHERWIN-WILLIAMS 2804211 289.82 5 2,059
0.18 ILLINOIS TOOL WO 2457552 249.61 5 2,054
0.18 CSX CORP 2160753 32.96 41 2,050
0.17 BECTON DICKINSON 2087807 232.30 6 2,018
0.17 PAYPAL HOLDINGS BYW36M8 58.94 23 2,014
0.17 AON PLC-CLASS A BLP1HW5 324.10 4 1,970
0.17 FEDEX CORP 2142784 272.21 5 1,956
0.17 INTERCONTINENTAL BFSSDS9 113.34 11 1,940
0.16 COLGATE-PALMOLIV 2209106 77.17 16 1,906
0.16 WASTE MANAGEMENT 2937667 172.50 7 1,900
0.16 CHIPOTLE MEXICAN B0X7DZ3 2,242.95 1 1,887
0.16 US BANCORP 2736035 40.43 31 1,881
0.16 TARGET CORP 2259101 135.19 9 1,863
0.16 AIRBNB INC-A BMGYYH4 140.68 9 1,863
0.16 MCKESSON CORP 2378534 457.89 3 1,857
0.15 HUMANA INC 2445063 481.62 2 1,792
0.15 MARATHON PETROLE B3K3L40 143.02 8 1,774
0.15 MOODY'S CORP 2252058 374.61 3 1,756
0.15 AIR PRODS & CHEM 2011602 263.27 4 1,752
0.15 O'REILLY AUTOMOT B65LWX6 945.88 1 1,744
0.15 ARISTA NETWORKS BN33VM5 224.03 5 1,722
0.15 PHILLIPS 66 B78C4Y8 125.32 9 1,721
0.15 ROPER TECHNOLOGI 2749602 536.60 2 1,712
0.15 GENERAL DYNAMICS 2365161 252.29 4 1,712
0.15 3M CO 2595708 103.37 11 1,699
0.15 LULULEMON ATH B23FN39 489.64 2 1,691
0.15 PARKER HANNIFIN 2671501 438.63 3 1,687
0.14 PNC FINANCIAL SE 2692665 140.67 8 1,670
0.14 AMPHENOL CORP-A 2145084 93.23 12 1,659
0.14 NXP SEMICONDUCTO B505PN7 215.55 5 1,652
0.14 FREEPORT-MCMORAN 2352118 38.15 28 1,629
0.14 MARRIOTT INTL-A 2210614 209.40 5 1,612
0.14 PIONEER NATURAL 2690830 223.05 5 1,612
0.14 MOTOROLA SOLUTIO B5BKPQ4 324.52 3 1,611
0.14 HCA HEALTHCARE I B4MGBG6 257.53 4 1,601
0.14 TRANE TECHNOLOGI BK9ZQ96 234.00 4 1,598
0.14 TRANSDIGM GROUP B11FJK3 983.92 1 1,595
0.14 PACCAR INC 2665861 95.38 11 1,569
0.13 ARTHUR J GALLAGH 2359506 240.96 4 1,551
0.13 AUTOZONE INC 2065955 2,620.49 0 1,529
0.13 EMERSON ELEC CO 2313405 89.55 11 1,524
0.13 ECOLAB INC 2304227 192.12 5 1,523
0.13 CROWN CASTLE INC BTGQCX1 116.07 9 1,499
0.13 NORFOLK SOUTHERN 2641894 221.00 4 1,497
0.12 CARRIER GLOB BK4N0D7 55.27 17 1,439
0.12 AUTODESK INC 2065159 224.01 4 1,426
0.12 CINTAS CORP 2197137 553.33 2 1,420
0.12 CAPITAL ONE FINA 2654461 118.09 8 1,405
0.12 WELLTOWER INC BYVYHH4 87.72 10 1,393
0.12 MICROCHIP TECH 2592174 86.08 11 1,391
0.12 AMERICAN INTERNA 2027342 65.53 14 1,388
0.12 GENERAL MOTORS C B665KZ5 33.75 27 1,374
0.12 TRUIST FINANCIAL BKP7287 34.33 26 1,356
0.12 SEMPRA 2138158 72.38 12 1,352
0.12 DEXCOM B0796X4 116.97 8 1,345
0.12 DR HORTON INC 2250687 138.46 6 1,343
0.12 NEWMONT CORP 2636607 39.08 23 1,335
0.12 VALERO ENERGY 2041364 122.74 7 1,334
0.11 ROSS STORES INC 2746711 132.08 7 1,333
0.11 HILTON WORLDWIDE BYVMW06 171.33 5 1,328
0.11 AFLAC INC 2026361 82.55 11 1,323
0.11 IDEXX LABS 2459202 531.35 2 1,301
0.11 SIMON PROPERTY 2812452 132.88 6 1,291
0.11 FORD MOTOR CO 2615468 11.01 77 1,282
0.11 WILLIAMS COS INC 2967181 35.52 24 1,282
0.11 COPART INC 2208073 47.39 18 1,280
0.11 PUBLIC STORAGE 2852533 273.81 3 1,278
0.11 DIGITAL REALTY B03GQS4 134.81 6 1,261
0.11 ONEOK INC 2130109 68.24 12 1,260
0.11 IQVIA HOLDINGS I BDR73G1 215.28 4 1,248
0.11 EDWARDS LIFE 2567116 69.18 12 1,247
0.11 TE CONNECTIVITY B62B7C3 133.32 6 1,243
0.11 TRAVELERS COS IN 2769503 181.26 4 1,232
0.10 AMERICAN ELECTRI 2026242 79.64 10 1,217
0.10 CENTENE CORP 2807061 73.77 11 1,216
0.10 CONSTELLATION-A 2170473 234.44 3 1,204
0.10 KIMBERLY-CLARK 2491839 119.94 7 1,199
0.10 METLIFE INC 2573209 64.09 12 1,197
0.10 NUCOR CORP 2651086 162.09 5 1,190
0.10 MONSTER BEVERAGE BZ07BW4 53.92 15 1,187
0.10 MSCI INC B2972D2 506.68 2 1,182
0.10 SYSCO CORP 2868165 73.83 11 1,181
0.10 PAYCHEX INC 2674458 124.02 6 1,179
0.10 DOMINION ENERGY 2542049 47.49 16 1,175
0.10 ARCHER-DANIELS 2047317 73.75 10 1,169
0.10 HESS CORP 2023748 134.50 6 1,165
0.10 EXELON CORP 2670519 39.21 19 1,156
0.10 OCCIDENTAL PETE 2655408 56.47 13 1,150
0.10 AGILENT TECH INC 2520153 127.20 6 1,142
0.10 AMETEK INC 2089212 157.16 5 1,140
0.10 GENERAL MILLS IN 2367026 65.47 11 1,133
0.10 REALTY INCOME 2724193 53.86 14 1,130
0.10 DOW INC BHXCF84 50.92 15 1,126
0.10 JOHNSON CONTROLS BY7QL61 56.08 13 1,126
0.10 PG&E CORP 2689560 17.61 42 1,121
0.10 WW GRAINGER INC 2380863 804.05 1 1,113
0.10 CHARTER COMMUN-A BZ6VT82 367.55 2 1,110
0.10 BIOGEN INC 2455965 239.29 3 1,104
0.09 L3HARRIS TECHNOL BK9DTN5 195.81 4 1,093
0.09 AMERIPRISE FINAN B0J7D57 357.58 2 1,085
0.09 PRUDENTL FINL 2819118 100.87 7 1,079
0.09 ALLSTATE CORP 2019952 139.32 5 1,073
0.09 VERISK ANALYTI B4P9W92 232.92 3 1,073
0.09 REPUBLIC SVCS 2262530 161.79 4 1,065
0.09 OTIS WORLDWI BK531S8 87.50 8 1,064
0.09 CONSTELLATION EN BMH4FS1 111.21 6 1,061
0.09 FASTENAL CO 2332262 62.29 11 1,050
0.09 COGNIZANT TECH-A 2257019 70.33 10 1,049
0.09 KENVUE INC BQ84ZQ6 20.61 33 1,047
0.09 GARTNER INC 2372763 452.00 2 1,044
0.09 UNITED RENTALS 2134781 495.06 1 1,042
0.09 ON SEMICONDUCTOR 2583576 76.14 9 1,035
0.09 LENNAR CORP-A 2511920 139.58 5 1,034
0.09 CUMMINS INC 2240202 230.58 3 1,032
0.09 PPG INDS INC 2698470 143.98 5 1,030
0.09 FIDELITY NATIONA 2769796 58.94 11 1,028
0.09 YUM! BRANDS INC 2098876 124.34 5 1,028
0.09 ROCKWELL AUTOMAT 2754060 278.53 2 1,022
0.09 ELECTRONIC ARTS 2310194 137.14 5 1,016
0.09 KINDER MORGAN IN B3NQ4P8 17.70 38 1,011
0.09 FORTINET INC B5B2106 52.16 13 1,001
0.09 COSTAR GROUP INC 2262864 82.39 8 993
0.09 XCEL ENERGY INC 2614807 60.91 11 989
0.09 VICI PROPERTIES BYWH073 30.51 21 987
0.09 CENCORA INC 2795393 201.75 3 987
0.08 VULCAN MATERIALS 2931205 216.03 3 915
0.08 GLOBAL PAYMENTS 2712013 120.16 5 914
0.08 ESTEE LAUDER 2320524 133.73 4 912
0.08 MARTIN MAR MTLS 2572079 469.39 1 900
0.08 DOLLAR GENERAL C B5B1S13 127.22 5 894
0.08 DEVON ENERGY CO 2480677 44.09 13 890
0.08 FAIR ISAAC CORP 2330299 1,134.39 1 888
0.08 EQUIFAX INC 2319146 228.38 3 887
0.08 CARDINAL HEALTH 2175672 106.83 5 873
0.08 HERSHEY CO/THE 2422806 185.74 3 872
0.08 OLD DOMINION FRT 2656423 369.45 2 976
0.08 BAKER HUGHES CO BDHLTQ5 32.24 20 961
0.08 DUPONT DE NEMOUR BK0VN47 70.89 9 957
0.08 KEURIG DR PEPPER BD3W133 32.11 20 951
0.08 CORTEVA INC BK73B42 45.15 14 945
0.08 INGERSOLL-RAND I BL5GZ82 73.31 8 942
0.08 ARCH CAPITAL GRP 2740542 79.30 8 938
0.08 KROGER CO 2497406 44.58 14 936
0.08 EXTRA SPACE STOR B02HWR9 138.68 4 930
0.08 CONS EDISON INC 2216850 91.55 7 926
0.08 HALLIBURTON CO 2405302 34.93 17 926
0.08 PUB SERV ENTERP 2707677 62.57 10 919
0.08 ROYAL CARIBBEAN 2754907 120.47 5 917
0.07 DIAMONDBACK ENER B7Y8YR3 148.73 4 862
0.07 WEC ENERGY GROUP BYY8XK8 84.07 7 859
0.07 MODERNA INC BGSXTS3 80.32 7 849
0.07 DISCOVER FINANCI B1YLC43 103.30 5 846
0.07 KRAFT HEINZ CO/T BYRY499 36.23 15 846
0.07 CDW CORP/DE BBM5MD6 213.19 3 843
0.07 QUANTA SERVICES 2150204 199.25 3 839
0.07 DELTA AIR LI B1W9D46 40.35 14 833
0.07 XYLEM INC B3P2CN8 106.38 5 828
0.07 EDISON INTL 2829515 67.45 8 828
0.07 DOLLAR TREE INC 2272476 124.41 4 827
0.07 GE HEALTHCARE TE BL6JPG8 68.52 8 827
0.07 MONOLITHIC POWER B01Z7J1 575.73 1 824
0.07 WILLIS TOWERS WA BDB6Q21 242.66 2 823
0.07 AVALONBAY COMMUN 2131179 175.75 3 820
0.07 AMERICAN WATER W B2R3PV1 131.35 4 820
0.07 CBRE GROUP INC-A B6WVMH3 82.69 7 819
0.07 HP INC BYX4D52 29.46 18 811
0.07 ANSYS INC 2045623 287.20 2 802
0.07 SBA COMM CORP BZ6TS23 244.18 2 790
0.07 ZIMMER BIOMET HO 2783815 117.30 4 783
0.07 KEYSIGHT TEC BQZJ0Q9 144.33 4 782
0.07 METTLER-TOLEDO 2126249 1,090.52 0 780
0.07 TAKE-TWO INTERAC 2122117 155.32 3 776
0.07 HARTFORD FINL SV 2476193 78.28 7 773
0.07 FORTIVE CORP BYT3MK1 68.89 7 772
0.07 ULTA BEAUTY INC B28TS42 482.16 1 758
0.06 RESMED INC 2732903 162.87 3 752
0.06 LYONDELLBASELL-A B3SPXZ3 92.58 5 743
0.06 WARNER BROS DISC BM8JYX3 11.47 42 740
0.06 CORNING INC 2224701 29.11 17 735
0.06 WEST PHARMACEUT 2950482 342.24 1 732
0.06 WEYERHAEUSER CO 2958936 30.87 15 723
0.06 T ROWE PRICE GRP 2702337 98.44 5 717
0.06 CHURCH & DWIGHT 2195841 92.94 5 716
0.06 EBAY INC 2293819 41.29 11 708
0.06 M&T BANK CORP 2340168 132.65 3 704
0.06 APTIV PLC B783TY6 79.83 6 694
0.06 MOLINA HEALTHCAR 2212706 367.72 1 693
0.06 HOWMET AEROSPACE BKLJ8V2 53.26 9 692
0.06 TRACTOR SUPPLY 2900335 212.07 2 687
0.06 STATE ST CORP 2842040 73.97 6 685
0.06 FIFTH THIRD BANC 2336747 31.25 14 679
0.06 WABTEC CORP 2955733 118.40 4 670
0.06 EVERSOURCE ENERG BVVN4Q8 59.65 7 668
0.06 HEWLETT PACKA BYVYWS0 16.22 27 664
0.06 BROADRIDGE FINL B1VP7R6 191.36 2 657
0.06 DOVER CORP 2278407 143.62 3 656
0.06 AMEREN CORP 2050832 78.02 6 656
0.06 DTE ENERGY CO 2280220 108.61 4 649
0.06 RAYMOND JAMES 2718992 107.05 4 648
0.05 ENTERGY CORP 2317087 102.01 4 637
0.05 STERIS PLC BFY8C75 200.50 2 633
0.05 NVR INC 2637785 6,535.89 0 632
0.05 TARGA RESOURCES B55PZY3 86.56 5 629
0.05 INTL FLVR & FRAG 2464165 76.82 5 627
0.05 PTC INC B95N910 166.61 2 623
0.05 INVITATION HOMES BD81GW9 33.08 12 616
0.05 TELEDYNE TECH 2503477 411.49 1 615
0.05 VERISIGN INC 2142922 212.97 2 615
0.05 LABORATORY CP 2586122 216.60 2 613
0.05 GENUINE PARTS CO 2367480 132.98 3 612
0.05 PULTEGROUP INC 2708841 96.31 4 610
0.05 NETAPP INC 2630643 89.39 4 609
0.05 DARDEN RESTAURAN 2289874 158.95 3 605
0.05 IRON MOUNTAIN BVFTF03 65.45 6 603
0.05 FIRSTENERGY CORP 2100920 37.08 11 597
0.05 COTERRA ENERGY I 2162340 24.70 16 595
0.05 GARMIN LTD B3Z5T14 124.59 3 593
0.05 ALEXANDRIA REAL 2009210 119.44 3 588
0.05 BAXTER INTL INC 2085102 36.15 11 588
0.05 TYLER TECHNOLOG 2909644 403.07 1 583
0.05 EQUITY RESIDENTI 2319157 58.82 7 582
0.05 NASDAQ INC 2965107 53.97 7 582
0.05 EXPEDIA GROUP IN B748CK2 145.50 3 580
0.05 ILLUMINA INC 2613990 112.94 3 579
0.05 STEEL DYNAMICS 2849472 113.16 3 578
0.05 BALL CORP 2073022 57.51 7 578
0.05 CENTERPOINT ENER 2440637 28.77 13 577
0.05 CARNIVAL CORP 2523044 18.11 21 576
0.05 EXPEDITORS INTL 2325507 117.53 3 575
0.05 PPL CORP 2680905 26.06 14 561
0.05 WATERS CORP 2937689 292.14 1 558
0.05 FLEETCOR TECHNOL B4R28B3 256.09 1 553
0.05 AKAMAI TECHNOLOG 2507457 114.41 3 552
0.05 BROWN & BROWN 2692687 74.15 5 549
0.05 CBOE GLOBAL MARK B5834C5 178.72 2 543
0.05 CMS ENERGY CORP 2219224 58.15 6 542
0.05 VENTAS INC 2927925 46.72 8 539
0.05 HOLOGIC INC 2433530 68.37 5 539
0.05 WALGREENS BOOTS BTN1Y44 23.16 15 532
0.05 MCCORMICK-N/V 2550161 67.09 5 530
0.05 SKYWORKS SOLUTIO 2961053 103.78 3 527
0.05 ATMOS ENERGY 2315359 113.46 3 525
0.05 VERALTO CORP BPGMZQ5 75.43 5 523
0.04 SEAGATE TECHNOLO BKVD2N4 80.59 4 521
0.04 OMNICOM GROUP 2279303 81.94 4 518
0.04 CINCINNATI FIN 2196888 102.80 3 514
0.04 HUBBELL INC BDFG6S3 308.17 1 510
0.04 ALBEMARLE CORP 2046853 127.99 3 510
0.04 ALIGN TECHNOLOGY 2679204 221.23 2 509
0.04 MID-AMERICA APAR 2589132 127.13 3 509
0.04 FACTSET RESEARCH 2329770 443.89 1 508
0.04 JACOBS SOLUTIONS BNGC0D3 127.29 3 503
0.04 CLOROX CO 2204026 141.55 2 503
0.04 IDEX CORP 2456612 204.84 2 503
0.04 EVEREST GROUP LT 2556868 384.78 1 501
0.04 COOPER COS INC 2222631 334.06 1 500
0.04 BEST BUY CO INC 2094670 73.99 4 500
0.04 EPAM SYSTEMS INC B44Z3T8 268.50 1 498
0.04 PRINCIPAL FINL 2803014 75.15 4 497
0.04 HUNTINGTON BANC 2445966 11.99 27 494
0.04 SOUTHWEST AIR 2831543 29.07 11 489
0.04 KELLANOVA 2486813 53.70 6 489
0.04 ENPHASE ENERGY B65SQW4 103.01 3 484
0.04 AVERY DENNISON 2066408 191.71 2 479
0.04 SYNCHRONY FINANC BP96PS6 35.29 9 479
0.04 TEXTRON INC 2885937 75.93 4 479
0.04 SNAP-ON INC 2818740 278.22 1 477
0.04 NORTHERN TRUST 2648668 80.39 4 477
0.04 MARATHON OIL 2910970 24.09 13 471
0.04 DOMINO'S PIZZA B01SD70 394.90 1 470
0.04 AXON ENTERPRISE BDT5S35 236.38 1 469
0.04 ESSEX PROPERTY 2316619 226.11 1 466
0.04 REGIONS FINANCIA B01R311 17.44 18 464
0.04 PACKAGING CORP 2504566 163.88 2 460
0.04 FIRST SOLAR INC B1HMF22 145.38 2 458
0.04 TERADYNE INC 2884183 92.29 3 457
0.04 ALLIANT ENERGY 2973821 51.38 6 454
0.04 BUNGE GLOBAL SA BQ6BPG9 104.50 3 453
0.04 MASCO CORP 2570200 64.00 5 445
0.04 CONAGRA BRANDS I 2215460 29.52 10 445
0.04 STANLEY BLACK & B3Q2FJ4 92.85 3 439
0.04 INSULET CORP B1XGNW4 194.66 1 437
0.04 HUNT (JB) TRANS 2445416 186.62 2 437
0.04 LAS VEGAS SANDS B02T2J7 46.39 6 435
0.04 QUEST DIAGNOSTIC 2702791 135.91 2 433
0.04 WESTERN DIGITAL 2954699 47.86 6 433
0.04 POOL CORP 2781585 354.12 1 430
0.04 AES CORP 2002479 18.22 15 423
0.04 EQT CORP 2319414 37.13 8 423
0.04 TYSON FOODS-A 2909730 51.38 5 421
0.04 LAMB WESTON BDQZFJ3 100.96 3 420
0.04 CF INDUSTRIES HO B0G4K50 76.56 4 418
0.04 LEIDOS HOLDINGS BDV82B8 108.49 3 417
0.04 TRIMBLE INC 2903958 46.90 6 415
0.04 NORDSON CORP 2641838 239.16 1 414
0.04 WR BERKLEY CORP 2093644 71.33 4 410
0.04 LKQ CORP 2971029 45.40 6 407
0.03 LOEWS CORP 2523022 68.84 4 405
0.03 HOST HOTELS & RE 2567503 17.99 15 401
0.03 AMCOR PLC BJ1F307 9.65 27 400
0.03 CELANESE CORP B05MZT4 141.35 2 396
0.03 ROLLINS INC 2747305 41.43 6 396
0.03 ZEBRA TECH CORP 2989356 236.13 1 395
0.03 LIVE NATION ENTE B0T7YX2 85.19 3 394
0.03 CITIZENS FINANCI BQRX1X3 29.61 9 393
0.03 UNITED AIRLINES B4QG225 40.97 6 393
0.03 MGM RESORTS INTE 2547419 41.42 6 391
0.03 BIO-TECHNE CORP BSHZ3Q0 68.31 4 387
0.03 GEN DIGITAL INC BJN4XN5 22.15 11 387
0.03 INTERPUBLIC GRP 2466321 31.22 8 380
0.03 EVERGY INC BFMXGR0 51.56 5 377
0.03 GLOBE LIFE INC BK6YKG1 122.36 2 362
0.03 REGENCY CENTERS 2726177 63.96 4 357
0.03 INTL PAPER CO 2465254 36.84 6 352
0.03 QORVO INC BR9YYP4 103.97 2 350
0.03 KIMCO REALTY 2491594 20.24 11 348
0.03 CAMDEN PROP TR 2166320 93.65 2 347
0.03 EASTMAN CHEMICAL 2298386 84.85 3 346
0.03 KEYCORP 2490911 13.26 17 343
0.03 JM SMUCKER CO 2951452 119.33 2 343
0.03 INCYTE CORP 2471950 54.70 4 342
0.03 HUNTINGTON INGAL B40SSC9 246.89 1 338
0.03 CH ROBINSON 2116228 84.50 3 338
0.03 HENRY SCHEIN INC 2416962 71.91 3 336
0.03 MOSAIC CO/THE B3NPHP6 35.68 6 330
0.03 JACK HENRY 2469193 164.69 1 329
0.03 CARMAX INC 2983563 67.22 3 328
0.03 VIATRIS INC BMWS3X9 9.83 22 327
0.03 ALLEGION PLC BFRT3W7 110.34 2 326
0.03 HORMEL FOODS CRP 2437264 31.38 7 323
0.03 REVVITY INC 2305844 91.02 2 322
0.03 MOLSON COORS-B B067BM3 62.31 3 318
0.03 CHARLES RIVER LA 2604336 204.46 1 316
0.03 PINNACLE WEST 2048804 75.30 3 315
0.03 BROWN-FORMAN -B 2146838 55.08 4 310
0.03 TELEFLEX INC 2881407 231.08 1 308
0.03 PENTAIR PLC BLS09M3 67.41 3 303
0.03 NISOURCE INC 2645409 26.30 7 299
0.03 APA CORP BNNF1C1 34.47 6 298
0.03 PAYCOM SOFTWARE BL95MY0 186.57 1 296
0.03 MARKETAXESS B03Q9D0 261.68 1 295
0.03 PARAMOUNT GLOB-B BKTNTR9 16.85 11 294
0.03 CAESARS ENTERTAI BMWWGB0 44.19 4 293
0.03 CAMPBELL SOUP CO 2162845 42.91 4 293
0.03 TAPESTRY INC BF09HX3 33.53 6 292
0.03 UDR INC 2727910 35.37 5 292
0.02 NRG ENERGY 2212922 47.81 4 289
0.02 BORGWARNER INC 2111955 32.90 6 289
0.02 CERIDIAN HCM HOL BFX1V56 67.17 3 286
0.02 NORWEGIAN CRUISE B9CGTC3 18.68 10 286
0.02 BOSTON PROPERTIE 2019479 64.08 3 285
0.02 WESTROCK CO BYR0914 41.16 4 281
0.02 MATCH GROUP INC BK80XH9 32.10 6 279
0.02 FED REALTY INVS BN7P9B2 99.12 2 277
0.02 HEALTHPEAK PROPE BJBLRK3 18.75 10 276
0.02 FRANKLIN RES INC 2350684 25.57 7 272
0.02 GENERAC HOLDINGS B6197Q2 121.55 1 270
0.02 BATH & BODY WORK BNNTGJ5 37.57 5 267
0.02 ETSY INC BWTN5N1 80.08 2 266
0.02 F5 INC 2427599 170.82 1 266
0.02 SMITH (A.O.)CORP 2816023 77.99 2 265
0.02 FMC CORP 2328603 55.88 3 256
0.02 JUNIPER NETWORKS 2431846 28.99 6 250
0.02 FOX CORP - A BJJMGL2 29.94 5 248
0.02 CATALENT INC BP96PQ4 37.18 4 247
0.02 AMERICAN AIRLINE BCV7KT2 13.76 12 243
0.02 COMERICA INC 2212870 49.97 3 239
0.02 ROBERT HALF INC 2110703 83.09 2 239
0.02 ZIONS BANCORP NA 2989828 38.93 4 234
0.02 WHIRLPOOL CORP 2960384 111.39 1 232
0.02 DAVITA INC 2898087 107.58 1 231
0.02 UNIVERSAL HLTH-B 2923785 137.45 1 223
0.02 INVESCO LTD B28XP76 15.21 10 222
0.02 NEWS CORP-CL A BBGVT40 21.94 7 221
0.02 ASSURANT INC 2331430 167.68 1 219
0.02 WYNN RESORTS LTD 2963811 84.19 2 217
0.02 VF CORP 2928683 18.14 8 215
0.02 DENTSPLY SIRONA BYNPPC6 31.88 4 206
0.02 SEALED AIR CORP 2232793 33.81 4 202
0.02 BIO-RAD LABS-A 2098508 304.13 0 197
0.02 RALPH LAUREN COR B4V9661 131.76 1 197
0.02 MOHAWK INDS 2598699 92.30 1 195
0.02 HASBRO INC 2414580 48.70 3 190
0.01 FOX CORP - B BJJMGY5 28.01 4 169
0.01 ALASKA AIR GROUP 2012605 35.61 3 149
0.01 SOLAREDGE TECHNO BWC52Q6 78.40 1 143
0.01 NEWS CORP-CL B BBGVT51 22.94 3 113
SPX 12 C4510 102.50 -2 -26,115
Holdings are subject to change.

Sector Breakdown As of 11 Dec 2023

Sector Weight (%)
Information Technology 29.4
Financials 12.9
Health Care 12.8
Consumer Discretionary 11.1
Communication Services 8.7
Industrials 8.5
Consumer Staples 6.5
Energy 4.0
Real Estate 2.5
Utilities 2.5
Materials 2.4

Country Breakdown As of 11 Dec 2023

Country Weight (%)
United States 99.4
Ireland 1.1
Switzerland 0.3
Canada 0.2
Netherlands 0.1
Britain 0.1
Bermuda 0.1

Research

Three Ways to Enhance Portfolio Income with ETFs

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How to Enhance Income Potential with Covered Call ETFs

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Documents

FAQs

  • What is a covered call strategy?

    Covered calls are an investment strategy where investors buy a stock, or group of stocks, and sell call options on them. Selling call options can generate additional income for a fund, as buyers pay “premiums” for the right to buy assets at a fixed (“strike”) price. The logic behind selling call options against assets investors already own is that it ensures investors are “covered” from a margin call perspective – hence the term “covered call”.

  • What are the potential benefits of covered call strategies?

    The primary benefit of covered calls is that they can generate more income, and on a more diversified basis, than just owning dividend-paying stocks. This is because covered call sellers receive two income streams: first the dividends, second the premiums from the calls they sell. The premiums not only provide an income uplift, but also a second stream to draw from if dividends fall or dry up. Furthermore, options premiums tend to be inversely correlated to dividend yields—with lower dividend yielding stocks producing higher premiums – creating a natural hedge.

    Covered call income is also hedged against volatility and interest rates. All else being equal, when volatility rises, option premiums rise as options traders price higher probabilities of sharp share price movements into calls. And when interest rates rise, call option premiums mechanically rise too, as call sellers provide, in effect, a loan to buyers. The economics of which gets priced into premiums.

  • What are the potential risks of covered call strategies?

    By writing covered call options in return for the receipt of premiums, investors forego the opportunity to benefit from potential increases in the value of the S&P 500 Index above the exercise prices of such options but will continue to bear the risk of declines in the value of the S&P 500 Index.

    The premiums received from the options may not be sufficient to offset any losses sustained from the volatility of the underlying stocks over time. As a result, the risks associated with writing covered call options may be similar to the risks associated with writing put options. In addition, UYLD’s ability to sell the securities underlying the options will be limited while the options are in effect unless UYLD cancels out the option positions through the purchase of offsetting identical options prior to the expiration of the written options.

  • What are the advantages of writing covered calls on the S&P 500?

    The S&P 500 is a familiar index to many Australians. As the leading US share market gauge, it plays home to some of the world’s largest companies. Despite being one of the best performing share markets in the world the past decade, many Australians have preferred to invest locally in Australian shares, as US shares typically pay smaller dividends. The lower yield owes to the fact that many US companies choose to reward shareholders through buybacks. In this setting, covered call strategies provide something of a solution, and provide a way to invest in the S&P 500 while also generating higher yield.

  • Which options does the fund sell and at what price?

    The fund invests in the S&P 500 Index on a fully replicated basis. It then sells monthly at-the-money exchange traded S&P 500 Index call options worth roughly 100% of the value of the portfolio, with the cash received from option sales reinvested into the S&P 500 Index. “At-the-money” options are those options with strike prices identical to the price of their underlying securities. Options are rolled the day before expiry, with expiring options bought back at the volume weighted average price determined at the close.

  • What is the cut-off date to receive a distribution from UYLD?

    To receive a distribution, you must own the ETF – the trade must have fully settled – on the record date. This means that you should aim to buy QYLD at least two business days before the record date (as ETF trades take two business days to settle) should you wish to receive a distribution.

    The record date is the date on which Computershare, the share registry, records who owns which ETFs and therefore who is entitled to distributions. As QYLD has multiple distributions throughout the year, it has multiple record dates throughout the year too.

  • When do I receive my distributions from UYLD?

    Distributions are paid on the payment date, which is announced ahead of time on the ASX’s website. Generally speaking, the payment date falls two weeks after the record date. On the payment date, investors will receive the cash – or new ETFs, if they choose to reinvest their distributions. Details of payment dates and frequencies are available on the fund’s website.

  • How can I know the size of a distribution?

    We (Global X) will usually forecast how big we expect a distribution to be around one week prior to the ex-distribution date. This forecast is made public on the announcement date. While these forecasts will be as accurate as practically possible, they are only estimates and are subject to corrections and revisions.

    The size of distributions is primarily determined by markets in the fund’s underlying assets. Variables include – but are not limited to – dividends and price movements in the fund's underlying shares, the size of option premiums, prevailing interest rates and market volatility.

    Fund operations can also impact distribution sizes. Management fees, transactional and operating costs typically lower a distribution. Distributions can also be impacted by the number of units in the fund on issue on the ex-distribution date. Where the number of units on issue declines in the leadup to the ex-distribution date, the distribution yield should be expected to expand. (Income accumulated between distributions is therefore spread over fewer units). An opposite dilutive effect occurs when the number of units on issue increases in the leadup to ex-distribution dates.

Investments may go up or down in value and you may lose some or all of the amount invested. Past performance is not necessarily a guide to future performance. Any advice provided by Global X Management (AUS) Limited (“Global X”) is general advice and does not take into account your personal objectives, financial situation or needs. You should consult an independent investment adviser prior to making an investment in order to determine its suitability to your circumstances. This material may contain links to third party websites. Global X does not control and is not responsible for the information contained within third party websites. None of these links imply Global X’s support, endorsement or recommendation of any other company, product or service.

Global X Management (AUS) Limited ACN 150 433 828 AFSL No 466778

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