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

S&P 500 Covered Call ETF

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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 2 May 2024

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 2 May 2024

NAV/Unit (A$) 10.99730000
Currency (NAV) AUD
Shares Outstanding 270,436
AUM (A$) 2,974,060.29
NAV History File View

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 28 Mar 2024

12-Month Yield 7.68%
12-Month Franking Level 0.00%
Distribution Frequency Monthly
Distribution History View

Performance Table As of 2 May 2024

Total Return (Fund) Total Return (Benchmark) Tracking Difference Tracking Error
1 Month -0.79% -1.09% 0.29% 0.61%
3 Months 2.29% 2.33% -0.05% 0.84%
1 Year 10.16% 12.08% -1.93% 1.04%
3 Year p.a. -- -- -- --
5 Year p.a. -- -- -- --
10 Year p.a. -- -- -- --
Since Inception p.a. 15.39% 17.59% -2.20% 0.98%

Top Holdings As of 3 May 2024

Full Holdings (.xlsx)
Net Assets (%) Name SEDOL Market Price (Local) Shares Held Market Value (A$)
7.02 MICROSOFT CORP 2588173 397.84 343 208,863
5.97 APPLE INC 2046251 173.03 670 177,487
5.04 NVIDIA CORP 2379504 858.17 114 149,820
4.01 AMAZON.COM INC 2000019 184.72 422 119,381
2.34 ALPHABET INC-A BYVY8G0 166.62 273 69,504
2.31 META PLATFORMS-A B7TL820 441.68 102 68,760
1.98 ALPHABET INC-C BYY88Y7 168.46 228 58,867
1.74 BERKSHIRE HATH-B 2073390 400.60 84 51,635
1.44 ELI LILLY & CO 2516152 755.91 37 42,727
1.32 JPMORGAN CHASE 2190385 191.66 134 39,296
1.30 BROADCOM INC BDZ78H9 1,238.57 20 38,662
1.19 TESLA INC B616C79 180.01 129 35,421
1.10 EXXON MOBIL CORP 2326618 116.24 184 32,757
1.09 UNITEDHEALTH GRP 2917766 492.97 43 32,359
1.01 VISA INC-CLASS A B2PZN04 267.61 73 30,056
0.91 PROCTER & GAMBLE 2704407 163.84 108 27,028
0.86 JOHNSON&JOHNSON 2475833 149.92 112 25,658
0.86 MASTERCARD INC-A B121557 441.10 38 25,574
0.79 HOME DEPOT INC 2434209 335.53 46 23,484
0.78 COSTCO WHOLESALE 2701271 732.44 21 23,132
0.78 MERCK & CO 2778844 128.26 118 23,125
0.68 ABBVIE INC B92SR70 160.81 82 20,213
0.67 CHEVRON CORP 2838555 160.73 81 19,855
0.62 SALESFORCE INC 2310525 272.13 44 18,494
0.61 WALMART INC 2936921 59.71 199 18,221
0.61 BANK OF AMERICA 2295677 36.88 321 18,101
0.58 COCA-COLA CO/THE 2206657 61.99 181 17,211
0.58 PEPSICO INC 2681511 175.45 64 17,203
0.58 NETFLIX INC 2857817 565.15 20 17,106
0.57 ADV MICRO DEVICE 2007849 146.16 75 16,844
0.53 THERMO FISHER 2886907 571.25 18 15,758
0.51 ADOBE INC 2008154 476.57 21 15,135
0.51 WELLS FARGO & CO 2649100 59.83 165 15,121
0.50 WALT DISNEY CO/T 2270726 112.62 86 14,758
0.49 LINDE PLC BNZHB81 419.45 23 14,520
0.48 QUALCOMM INC 2714923 180.10 52 14,387
0.48 MCDONALDS CORP 2550707 273.28 34 14,170
0.46 CISCO SYSTEMS 2198163 46.79 190 13,593
0.44 ABBOTT LABS 2002305 105.92 81 13,154
0.44 ACCENTURE PLC-A B4BNMY3 300.34 29 13,146
0.44 ORACLE CORP 2661568 114.96 75 13,116
0.43 GENERAL ELECTRIC BL59CR9 162.64 51 12,691
0.40 INTUIT INC 2459020 614.04 13 11,981
0.40 CATERPILLAR INC 2180201 335.44 23 11,890
0.39 VERIZON COMMUNIC 2090571 38.93 197 11,724
0.39 DANAHER CORP 2250870 246.84 31 11,647
0.39 APPLIED MATERIAL 2046552 197.91 38 11,506
0.39 TEXAS INSTRUMENT 2885409 175.80 43 11,475
0.37 PFIZER INC 2684703 27.70 256 10,858
0.36 PHILIP MORRIS IN B2PKRQ3 97.31 73 10,849
0.36 IBM 2005973 164.69 43 10,797
0.36 COMCAST CORP-A 2044545 38.36 182 10,702
0.35 AMGEN INC 2023607 278.39 24 10,338
0.34 GOLDMAN SACHS GP 2407966 432.57 15 10,150
0.34 UNION PAC CORP 2914734 237.69 28 10,056
0.34 CONOCOPHILLIPS 2685717 122.25 54 10,050
0.33 SERVICENOW INC B80NXX8 695.72 9 9,905
0.33 NEXTERA ENERGY 2328915 68.85 94 9,879
0.33 UBER TECHNOLOGIE BK6N347 68.57 93 9,802
0.32 INTUITIVE SURGIC 2871301 377.65 17 9,580
0.32 RTX CORP BM5M5Y3 101.89 61 9,455
0.31 S&P GLOBAL INC BYV2325 416.96 15 9,358
0.31 AMERICAN EXPRESS 2026082 232.50 26 9,266
0.31 INTEL CORP 2463247 30.51 198 9,261
0.31 HONEYWELL INTL 2020459 193.64 31 9,190
0.31 LOWE'S COS INC 2536763 229.58 26 9,175
0.30 ELEVANCE HEALTH BSPHGL4 525.61 11 8,897
0.30 EATON CORP PLC B8KQN82 315.27 18 8,804
0.30 MICRON TECH 2588184 112.33 51 8,803
0.29 BOOKING HOLDINGS BDRXDB4 3,472.91 2 8,573
0.29 PROGRESSIVE CORP 2705024 209.03 27 8,555
0.28 AT&T INC 2831811 16.82 323 8,316
0.28 CITIGROUP INC 2297907 61.54 87 8,191
0.27 MORGAN STANLEY 2262314 92.65 57 8,079
0.27 LAM RESEARCH 2502247 883.68 6 8,043
0.26 SCHWAB (CHARLES) 2779397 75.33 68 7,841
0.26 NIKE INC -CL B 2640147 92.41 55 7,828
0.26 STRYKER CORP 2853688 326.63 15 7,727
0.26 BLACKROCK INC 2494504 757.00 7 7,658
0.25 BOSTON SCIENTIFC 2113434 72.03 68 7,510
0.25 TJX COS INC 2989301 94.91 52 7,498
0.25 MEDTRONIC PLC BTN1Y11 80.92 60 7,436
0.25 UNITED PARCEL-B 2517382 147.22 33 7,346
0.25 DEERE & CO 2261203 395.96 12 7,301
0.24 VERTEX PHARM 2931034 400.16 12 7,214
0.24 BOEING CO/THE 2108601 178.85 26 7,131
0.24 CHUBB LTD B3BQMF6 250.25 18 7,038
0.24 LOCKHEED MARTIN 2522096 463.20 10 7,030
0.23 AUTOMATIC DATA 2065308 242.03 19 6,954
0.23 THE CIGNA GROUP BHJ0775 344.50 13 6,947
0.23 REGENERON PHARM 2730190 937.61 5 6,929
0.23 MARSH & MCLENNAN 2567741 199.36 22 6,859
0.23 ANALOG DEVICES 2032067 196.49 22 6,737
0.22 PROLOGIS INC B44WZD7 104.53 42 6,681
0.22 MONDELEZ INTER-A B8CKK03 70.50 62 6,639
0.22 PALO ALTO NETWOR B87ZMX0 295.32 14 6,470
0.22 KLA CORP 2480138 682.05 6 6,454
0.21 FISERV INC 2342034 149.17 27 6,151
0.21 BRISTOL-MYER SQB 2126335 43.70 92 6,126
0.20 CHIPOTLE MEXICAN B0X7DZ3 3,141.99 1 6,001
0.20 T-MOBILE US INC B94Q9V0 164.91 24 5,982
0.20 BLACKSTONE INC BKF2SL7 118.99 33 5,949
0.20 STARBUCKS CORP 2842255 74.93 52 5,905
0.20 AMERICAN TOWER C B7FBFL2 179.64 21 5,858
0.19 GILEAD SCIENCES 2369174 65.33 57 5,693
0.19 EOG RESOURCES 2318024 131.80 28 5,598
0.19 SYNOPSYS INC 2867719 523.38 7 5,587
0.18 ALTRIA GROUP INC 2692632 43.98 82 5,502
0.18 ZOETIS INC B95WG16 167.23 21 5,463
0.18 DUKE ENERGY CORP B7VD3F2 99.31 35 5,356
0.18 TARGET CORP 2259101 158.12 22 5,323
0.18 AMPHENOL CORP-A 2145084 121.00 29 5,317
0.18 COLGATE-PALMOLIV 2209106 92.91 37 5,217
0.18 BUNGE GLOBAL SA BQ6BPG9 101.36 34 5,206
0.17 WASTE MANAGEMENT 2937667 207.16 16 5,191
0.17 CADENCE DESIGN 2302232 276.44 12 5,156
0.17 FREEPORT-MCMORAN 2352118 48.78 68 5,111
0.17 CME GROUP INC 2965839 207.48 16 5,105
0.17 TRANSDIGM GROUP B11FJK3 1,271.78 3 5,092
0.17 SHERWIN-WILLIAMS 2804211 304.46 11 5,062
0.17 PAYPAL HOLDINGS BYW36M8 66.98 49 5,021
0.17 MCKESSON CORP 2378534 530.27 6 5,014
0.17 SOLVENTUM BMTQB43 65.14 50 4,969
0.17 INTERCONTINENTAL BFSSDS9 126.54 26 4,952
0.17 TRANE TECHNOLOGI BK9ZQ96 316.79 10 4,915
0.16 AIRBNB INC-A BMGYYH4 158.33 20 4,874
0.16 CVS HEALTH CORP 2577609 55.15 58 4,854
0.16 GENERAL DYNAMICS 2365161 287.36 11 4,784
0.16 BECTON DICKINSON 2087807 240.35 13 4,760
0.16 MARATHON PETROLE B3K3L40 182.95 17 4,707
0.16 NORTHROP GRUMMAN 2648806 475.00 6 4,686
0.16 ARISTA NETWORKS BN33VM5 261.86 12 4,642
0.16 CSX CORP 2160753 33.57 90 4,640
0.16 PARKER HANNIFIN 2671501 530.68 6 4,639
0.16 SCHLUMBERGER LTD 2779201 47.58 64 4,636
0.15 PIONEER NATURAL 2690830 269.62 11 4,554
0.15 ILLINOIS TOOL WO 2457552 242.04 12 4,525
0.15 EQUINIX INC BVLZX12 698.70 4 4,496
0.15 EMERSON ELEC CO 2313405 106.41 27 4,468
0.15 NXP SEMICONDUCTO B505PN7 254.26 11 4,442
0.15 HCA HEALTHCARE I B4MGBG6 308.84 9 4,420
0.15 US BANCORP 2736035 40.97 69 4,340
0.15 PHILLIPS 66 B78C4Y8 143.87 20 4,327
0.14 O'REILLY AUTOMOT B65LWX6 1,006.23 3 4,265
0.14 MARRIOTT INTL-A 2210614 235.56 12 4,214
0.14 FEDEX CORP 2142784 262.03 11 4,214
0.14 PNC FINANCIAL SE 2692665 155.68 18 4,208
0.14 ECOLAB INC 2304227 226.76 12 4,128
0.14 CONSTELLATION EN BMH4FS1 186.18 14 4,120
0.14 PACCAR INC 2665861 106.46 25 4,019
0.14 MOODY'S CORP 2252058 376.40 7 4,018
0.13 AON PLC-CLASS A BLP1HW5 280.09 9 3,947
0.13 CAPITAL ONE FINA 2654461 141.81 18 3,891
0.13 CINTAS CORP 2197137 662.29 4 3,878
0.13 VALERO ENERGY 2041364 157.34 16 3,854
0.13 WELLTOWER INC BYVYHH4 96.08 26 3,813
0.13 MOTOROLA SOLUTIO B5BKPQ4 336.24 7 3,774
0.12 ROPER TECHNOLOGI 2749602 510.82 5 3,700
0.12 AMERICAN INTERNA 2027342 78.10 31 3,691
0.12 CARRIER GLOB BK4N0D7 60.94 40 3,687
0.12 AIR PRODS & CHEM 2011602 243.69 10 3,645
0.12 GENERAL MOTORS C B665KZ5 44.67 53 3,607
0.12 3M CO 2595708 96.81 24 3,602
0.12 AUTOZONE INC 2065955 2,962.09 1 3,591
0.12 NORFOLK SOUTHERN 2641894 233.80 10 3,579
0.12 TRUIST FINANCIAL BKP7287 38.35 61 3,577
0.12 EDWARDS LIFE 2567116 85.06 27 3,483
0.12 ARTHUR J GALLAGH 2359506 238.54 10 3,473
0.11 DEXCOM B0796X4 126.65 18 3,414
0.11 HILTON WORLDWIDE BYVMW06 197.53 11 3,410
0.11 FORD MOTOR CO 2615468 12.49 178 3,409
0.11 AMERICAN ELECTRI 2026242 88.25 25 3,380
0.11 NEWMONT CORP 2636607 41.05 53 3,309
0.11 COPART INC 2208073 54.40 40 3,301
0.11 TRAVELERS COS IN 2769503 214.37 10 3,295
0.11 WILLIAMS COS INC 2967181 38.54 56 3,279
0.11 ALLSTATE CORP 2019952 169.18 13 3,256
0.11 MICROCHIP TECH 2592174 89.46 24 3,241
0.11 KIMBERLY-CLARK 2491839 136.50 15 3,217
0.11 SEMPRA 2138158 72.87 29 3,207
0.11 ONEOK INC 2130109 76.95 27 3,206
0.11 REALTY INCOME 2724193 54.91 38 3,194
0.11 DR HORTON INC 2250687 145.46 14 3,152
0.11 HESS CORP 2023748 158.56 13 3,133
0.10 SIMON PROPERTY 2812452 141.36 14 3,102
0.10 UNITED RENTALS 2134781 664.57 3 3,090
0.10 AUTODESK INC 2065159 209.95 9 3,035
0.10 DOMINION ENERGY 2542049 51.16 38 2,994
0.10 AFLAC INC 2026361 84.04 23 2,985
0.10 WW GRAINGER INC 2380863 923.90 2 2,953
0.10 L3HARRIS TECHNOL BK9DTN5 211.34 9 2,951
0.10 DIGITAL REALTY B03GQS4 140.15 14 2,945
0.10 MODERNA INC BGSXTS3 125.59 15 2,942
0.10 CONSTELLATION-A 2170473 254.08 8 2,925
0.10 OCCIDENTAL PETE 2655408 64.66 30 2,923
0.10 METLIFE INC 2573209 70.24 27 2,920
0.10 PUBLIC STORAGE 2852533 263.93 7 2,920
0.10 TE CONNECTIVITY B62B7C3 140.01 14 2,915
0.10 IQVIA HOLDINGS I BDR73G1 222.14 9 2,911
0.10 ROSS STORES INC 2746711 127.68 15 2,908
0.10 GE VERNOVA INC BP6H4Y1 153.83 12 2,905
0.10 JOHNSON CONTROLS BY7QL61 60.75 31 2,894
0.10 FIDELITY NATIONA 2769796 69.43 27 2,877
0.10 DOW INC BHXCF84 56.83 33 2,848
0.10 CUMMINS INC 2240202 280.29 7 2,840
0.09 PRUDENTL FINL 2819118 111.29 17 2,811
0.09 NUCOR CORP 2651086 170.52 11 2,810
0.09 CROWN CASTLE INC BTGQCX1 96.44 19 2,809
0.09 AMERIPRISE FINAN B0J7D57 416.48 4 2,809
0.09 GENERAL MILLS IN 2367026 70.65 26 2,806
0.09 CORTEVA INC BK73B42 56.98 32 2,796
0.09 YUM! BRANDS INC 2098876 135.07 14 2,795
0.09 FORTINET INC B5B2106 65.20 28 2,781
0.09 IDEXX LABS 2459202 475.82 4 2,762
0.09 MONSTER BEVERAGE BZ07BW4 53.39 34 2,759
0.09 HUMANA INC 2445063 320.98 6 2,747
0.09 CENCORA INC 2795393 224.74 8 2,746
0.09 CENTENE CORP 2807061 74.33 24 2,730
0.09 FASTENAL CO 2332262 68.09 26 2,726
0.09 LULULEMON ATH B23FN39 350.80 5 2,724
0.09 REPUBLIC SVCS 2262530 186.44 9 2,709
0.09 QUANTA SERVICES 2150204 255.00 7 2,701
0.09 AMETEK INC 2089212 163.34 11 2,698
0.09 LENNAR CORP-A 2511920 155.21 11 2,684
0.09 AGILENT TECH INC 2520153 137.52 13 2,679
0.09 SYSCO CORP 2868165 74.25 24 2,672
0.09 INGERSOLL-RAND I BL5GZ82 92.85 19 2,660
0.09 PAYCHEX INC 2674458 118.45 15 2,653
0.09 KINDER MORGAN IN B3NQ4P8 18.46 94 2,642
0.09 EXELON CORP 2670519 37.89 45 2,637
0.09 PG&E CORP 2689560 17.53 98 2,615
0.09 OTIS WORLDWI BK531S8 91.77 19 2,602
0.09 SUPER MICRO COMP B1VQR35 762.52 2 2,599
0.09 MSCI INC B2972D2 467.70 4 2,584
0.09 PUB SERV ENTERP 2707677 70.02 24 2,578
0.09 KROGER CO 2497406 55.09 30 2,570
0.09 COSTAR GROUP INC 2262864 89.76 19 2,563
0.08 DUPONT DE NEMOUR BK0VN47 77.75 19 2,286
0.08 HALLIBURTON CO 2405302 36.70 41 2,284
0.08 GE HEALTHCARE TE BL6JPG8 77.83 19 2,272
0.08 MONOLITHIC POWER B01Z7J1 712.89 2 2,242
0.08 VULCAN MATERIALS 2931205 264.41 6 2,492
0.08 KEURIG DR PEPPER BD3W133 33.56 49 2,491
0.08 DIAMONDBACK ENER B7Y8YR3 197.63 8 2,486
0.08 KENVUE INC BQ84ZQ6 19.12 83 2,434
0.08 OLD DOMINION FRT 2656423 183.40 9 2,424
0.08 VERISK ANALYTI B4P9W92 233.76 7 2,423
0.08 CONS EDISON INC 2216850 95.25 17 2,418
0.08 GARTNER INC 2372763 419.04 4 2,417
0.08 MARTIN MAR MTLS 2572079 589.96 3 2,414
0.08 BAKER HUGHES CO BDHLTQ5 31.93 49 2,385
0.08 ARCH CAPITAL GRP 2740542 95.17 16 2,384
0.08 ARCHER-DANIELS 2047317 59.35 26 2,358
0.08 DELTA AIR LI B1W9D46 51.03 30 2,312
0.08 ESTEE LAUDER 2320524 134.94 11 2,311
0.08 XYLEM INC B3P2CN8 135.99 11 2,309
0.08 COGNIZANT TECH-A 2257019 66.27 23 2,308
0.08 ROYAL CARIBBEAN 2754907 137.38 11 2,291
0.07 BIOGEN INC 2455965 213.51 7 2,216
0.07 ROCKWELL AUTOMAT 2754060 270.04 5 2,210
0.07 DEVON ENERGY CO 2480677 50.34 28 2,186
0.07 XCEL ENERGY INC 2614807 53.79 26 2,180
0.07 CDW CORP/DE BBM5MD6 218.41 7 2,173
0.07 TRACTOR SUPPLY 2900335 266.70 5 2,169
0.07 DISCOVER FINANCI B1YLC43 124.51 11 2,168
0.07 ON SEMICONDUCTOR 2583576 70.01 20 2,155
0.07 KRAFT HEINZ CO/T BYRY499 36.72 38 2,149
0.07 DOLLAR GENERAL C B5B1S13 137.15 10 2,126
0.07 RESMED INC 2732903 218.15 6 2,117
0.07 EXTRA SPACE STOR B02HWR9 139.79 10 2,096
0.07 GLOBAL PAYMENTS 2712013 110.54 12 2,093
0.07 HOWMET AEROSPACE BKLJ8V2 77.10 18 2,083
0.07 ELECTRONIC ARTS 2310194 128.50 11 2,075
0.07 FAIR ISAAC CORP 2330299 1,165.35 1 2,055
0.07 PPG INDS INC 2698470 132.25 10 2,052
0.07 HARTFORD FINL SV 2476193 97.49 14 2,047
0.07 VICI PROPERTIES BYWH073 28.80 46 2,035
0.07 WEST PHARMACEUT 2950482 368.46 3 1,962
0.07 EDISON INTL 2829515 71.97 18 1,937
0.06 METTLER-TOLEDO 2126249 1,249.88 1 1,928
0.06 AVALONBAY COMMUN 2131179 192.45 7 1,927
0.06 ANSYS INC 2045623 314.53 4 1,909
0.06 HERSHEY CO/THE 2422806 195.88 6 1,907
0.06 EQUIFAX INC 2319146 224.50 5 1,883
0.06 CBRE GROUP INC-A B6WVMH3 86.79 14 1,863
0.06 WABTEC CORP 2955733 161.88 8 1,860
0.06 WEC ENERGY GROUP BYY8XK8 83.08 14 1,840
0.06 WILLIS TOWERS WA BDB6Q21 252.49 5 1,822
0.06 CHARTER COMMUN-A BZ6VT82 262.00 5 1,809
0.06 PULTEGROUP INC 2708841 113.85 10 1,808
0.06 KEYSIGHT TEC BQZJ0Q9 146.99 8 1,795
0.06 CORNING INC 2224701 33.57 35 1,793
0.06 CARDINAL HEALTH 2175672 102.98 11 1,779
0.06 EBAY INC 2293819 49.39 24 1,779
0.06 FORTIVE CORP BYT3MK1 76.10 15 1,775
0.06 GARMIN LTD B3Z5T14 165.33 7 1,771
0.06 DOLLAR TREE INC 2272476 119.78 10 1,763
0.06 T ROWE PRICE GRP 2702337 111.16 10 1,735
0.06 DOVER CORP 2278407 177.55 6 1,728
0.06 AMERICAN WATER W B2R3PV1 125.95 9 1,718
0.06 STATE ST CORP 2842040 73.20 15 1,699
0.06 BROADRIDGE FINL B1VP7R6 195.35 6 1,683
0.06 ENTERGY CORP 2317087 107.16 10 1,679
0.06 DTE ENERGY CO 2280220 111.91 10 1,676
0.06 CHURCH & DWIGHT 2195841 105.88 10 1,670
0.06 FIFTH THIRD BANC 2336747 36.89 29 1,662
0.06 ZIMMER BIOMET HO 2783815 118.46 9 1,652
0.06 NVR INC 2637785 7,479.01 0 1,648
0.05 TARGA RESOURCES B55PZY3 112.99 9 1,628
0.05 EQUITY RESIDENTI 2319157 65.56 16 1,627
0.05 LYONDELLBASELL-A B3SPXZ3 98.78 11 1,626
0.05 BUILDERS FIRSTSO B0BV2M7 188.74 6 1,613
0.05 HP INC BYX4D52 27.94 38 1,611
0.05 CORPAY INC BMX5GK7 298.94 4 1,608
0.05 M&T BANK CORP 2340168 146.27 7 1,599
0.05 WEYERHAEUSER CO 2958936 31.01 33 1,582
0.05 WESTERN DIGITAL 2954699 69.72 15 1,582
0.05 SBA COMM CORP BZ6TS23 193.87 5 1,574
0.05 IRON MOUNTAIN BVFTF03 77.00 13 1,572
0.05 NASDAQ INC 2965107 60.07 17 1,560
0.05 AXON ENTERPRISE BDT5S35 316.75 3 1,559
0.05 HUBBELL INC BDFG6S3 372.94 3 1,529
0.05 RAYMOND JAMES 2718992 123.97 8 1,520
0.05 APTIV PLC B783TY6 77.79 13 1,518
0.05 GENUINE PARTS CO 2367480 156.32 6 1,515
0.05 PPL CORP 2680905 27.92 35 1,507
0.05 HEWLETT PACKA BYVYWS0 16.53 59 1,503
0.05 DECKERS OUTDOOR 2267278 832.63 1 1,499
0.05 MCCORMICK-N/V 2550161 75.14 13 1,477
0.05 BALL CORP 2073022 67.99 14 1,461
0.05 TAKE-TWO INTERAC 2122117 143.07 7 1,455
0.05 ALEXANDRIA REAL 2009210 118.17 8 1,445
0.05 VERALTO CORP BPGMZQ5 93.85 10 1,440
0.05 COTERRA ENERGY I 2162340 27.16 34 1,429
0.05 FIRST SOLAR INC B1HMF22 180.51 5 1,427
0.05 PTC INC B95N910 170.60 5 1,426
0.05 FIRSTENERGY CORP 2100920 39.09 24 1,412
0.05 HUNTINGTON BANC 2445966 13.67 67 1,408
0.05 INTL FLVR & FRAG 2464165 86.81 11 1,395
0.05 ATMOS ENERGY 2315359 119.05 8 1,388
0.05 AMEREN CORP 2050832 75.25 12 1,383
0.05 LEIDOS HOLDINGS BDV82B8 142.66 6 1,380
0.05 AVERY DENNISON 2066408 219.51 4 1,372
0.05 BROWN & BROWN 2692687 82.85 11 1,369
0.05 NETAPP INC 2630643 102.12 9 1,367
0.05 EXPEDIA GROUP IN B748CK2 136.09 7 1,365
0.05 COOPER COS INC BQPDXR3 89.75 10 1,363
0.05 STEEL DYNAMICS 2849472 130.79 7 1,353
0.05 TYLER TECHNOLOG 2909644 464.46 2 1,351
0.04 PRINCIPAL FINL 2803014 80.48 11 1,336
0.04 VENTAS INC 2927925 46.22 19 1,336
0.04 EVERSOURCE ENERG BVVN4Q8 60.75 14 1,335
0.04 STERIS PLC BFY8C75 206.24 4 1,327
0.04 CBOE GLOBAL MARK B5834C5 174.12 5 1,325
0.04 REGIONS FINANCIA B01R311 19.64 44 1,308
0.04 WATERS CORP 2937689 315.58 3 1,303
0.04 ALIGN TECHNOLOGY 2679204 286.54 3 1,301
0.04 CENTERPOINT ENER 2440637 29.40 29 1,298
0.04 ILLUMINA INC 2613990 123.99 7 1,289
0.04 WARNER BROS DISC BM8JYX3 7.95 106 1,284
0.04 OMNICOM GROUP 2279303 92.63 9 1,283
0.04 ESSEX PROPERTY 2316619 249.80 3 1,281
0.04 ZEBRA TECH CORP 2989356 312.71 3 1,277
0.04 INVITATION HOMES BD81GW9 34.50 24 1,275
0.04 JACOBS SOLUTIONS BNGC0D3 144.93 6 1,274
0.04 CINCINNATI FIN 2196888 116.16 7 1,272
0.04 MOLINA HEALTHCAR 2212706 339.55 2 1,272
0.04 ULTA BEAUTY INC B28TS42 397.33 2 1,267
0.04 CMS ENERGY CORP 2219224 61.27 13 1,262
0.04 TERADYNE INC 2884183 117.39 7 1,256
0.04 TYSON FOODS-A 2909730 60.95 13 1,250
0.04 CLOROX CO 2204026 139.67 6 1,248
0.04 UNITED AIRLINES B4QG225 51.68 16 1,243
0.04 NORTHERN TRUST 2648668 83.50 10 1,241
0.04 EVEREST GROUP LT 2556868 372.07 2 1,235
0.04 DARDEN RESTAURAN 2289874 147.86 5 1,235
0.04 PACKAGING CORP 2504566 175.34 5 1,234
0.04 FACTSET RESEARCH 2329770 423.36 2 1,232
0.04 DOMINO'S PIZZA B01SD70 512.70 2 1,209
0.04 BAXTER INTL INC 2085102 36.91 21 1,183
0.04 TEXTRON INC 2885937 85.37 9 1,170
0.04 CONAGRA BRANDS I 2215460 30.85 25 1,166
0.04 IDEX CORP 2456612 220.63 3 1,165
0.04 LABORATORY CP 2586122 200.25 4 1,162
0.04 CITIZENS FINANCI BQRX1X3 34.99 22 1,160
0.04 TELEDYNE TECH 2503477 385.60 2 1,159
0.04 CARNIVAL CORP 2523044 14.46 52 1,155
0.04 HOLOGIC INC 2433530 75.91 10 1,152
0.04 SYNCHRONY FINANC BP96PS6 45.25 17 1,145
0.04 NRG ENERGY 2212922 75.13 10 1,139
0.04 EXPEDITORS INTL 2325507 113.91 7 1,138
0.04 SEAGATE TECHNOLO BKVD2N4 86.29 9 1,137
0.04 WR BERKLEY CORP 2093644 79.01 9 1,137
0.04 NORDSON CORP 2641838 262.80 3 1,128
0.04 LOEWS CORP 2523022 76.53 10 1,127
0.04 EQT CORP 2319414 39.48 19 1,127
0.04 SOUTHWEST AIR 2831543 26.41 28 1,113
0.04 BUNGE GLOBAL SA BQ6BPG9 101.36 7 1,104
0.04 CELANESE CORP B05MZT4 156.38 5 1,097
0.04 LAS VEGAS SANDS B02T2J7 46.65 15 1,093
0.04 QUEST DIAGNOSTIC 2702791 136.34 5 1,091
0.04 KELLANOVA 2486813 61.28 11 1,076
0.04 MARATHON OIL 2910970 26.09 27 1,068
0.04 MASCO CORP 2570200 68.98 10 1,060
0.04 AKAMAI TECHNOLOG 2507457 99.74 7 1,053
0.03 MID-AMERICA APAR 2589132 131.68 5 1,039
0.03 HOST HOTELS & RE 2567503 18.45 37 1,033
0.03 AMCOR PLC BJ1F307 9.87 68 1,022
0.03 CF INDUSTRIES HO B0G4K50 73.87 9 1,009
0.03 JABIL INC 2471789 115.26 6 1,008
0.03 ALBEMARLE CORP 2046853 125.30 5 1,005
0.03 SKYWORKS SOLUTIO 2961053 89.72 7 1,005
0.03 STANLEY BLACK & B3Q2FJ4 84.99 8 1,000
0.03 TRIMBLE INC 2903958 60.09 11 990
0.03 ENPHASE ENERGY B65SQW4 106.06 6 990
0.03 EVERGY INC BFMXGR0 53.55 12 983
0.03 SNAP-ON INC 2818740 266.87 2 982
0.03 POOL CORP 2781585 360.11 2 976
0.03 INSULET CORP B1XGNW4 173.42 4 971
0.03 VIATRIS INC BMWS3X9 11.60 54 964
0.03 KEYCORP 2490911 14.87 42 964
0.03 HUNT (JB) TRANS 2445416 164.57 4 960
0.03 EPAM SYSTEMS INC B44Z3T8 238.18 3 959
0.03 VERISIGN INC 2142922 168.34 4 954
0.03 BEST BUY CO INC 2094670 72.44 8 941
0.03 INTERPUBLIC GRP 2466321 30.53 20 931
0.03 HEALTHPEAK PROPE BJBLRK3 19.17 31 910
0.03 REVVITY INC 2305844 101.08 6 900
0.03 PENTAIR PLC BLS09M3 78.85 7 885
0.03 LAMB WESTON BDQZFJ3 84.48 7 884
0.03 WALGREENS BOOTS BTN1Y44 17.53 33 878
0.03 LIVE NATION ENTE B0T7YX2 88.27 6 877
0.03 WESTROCK CO BYR0914 51.11 11 867
0.03 CHARLES RIVER LA 2604336 229.89 2 866
0.03 GEN DIGITAL INC BJN4XN5 19.68 29 860
0.03 INTL PAPER CO 2465254 35.81 16 857
0.03 ALLIANT ENERGY 2973821 50.85 11 852
0.03 REGENCY CENTERS 2726177 60.02 9 839
0.03 AES CORP 2002479 18.93 29 836
0.03 CARMAX INC 2983563 68.04 8 828
0.03 KIMCO REALTY 2491594 18.96 28 818
0.03 CH ROBINSON 2116228 80.93 7 814
0.03 NISOURCE INC 2645409 28.50 19 812
0.03 LKQ CORP 2971029 43.34 12 811
0.03 JM SMUCKER CO 2951452 112.85 5 811
0.03 JACK HENRY 2469193 162.51 3 806
0.03 EASTMAN CHEMICAL 2298386 95.92 5 787
0.03 CAMPBELL SOUP CO 2162845 45.89 11 787
0.03 BATH & BODY WORK BNNTGJ5 43.83 12 783
0.03 UDR INC 2727910 37.57 14 777
0.03 BIO-TECHNE CORP BSHZ3Q0 75.60 7 777
0.03 ALLEGION PLC BFRT3W7 122.26 4 750
0.03 JUNIPER NETWORKS 2431846 34.65 14 748
0.02 ROLLINS INC 2747305 44.74 11 743
0.02 MOLSON COORS-B B067BM3 57.80 8 738
0.02 HORMEL FOODS CRP 2437264 35.42 13 718
0.02 GENERAC HOLDINGS B6197Q2 128.66 4 714
0.02 SMITH (A.O.)CORP 2816023 83.55 6 711
0.02 INCYTE CORP 2471950 53.09 8 690
0.02 UNIVERSAL HLTH-B 2923785 169.89 3 681
0.02 MATCH GROUP INC BK80XH9 31.29 14 681
0.02 TELEFLEX INC 2881407 198.73 2 676
0.02 CATALENT INC BP96PQ4 56.34 8 675
0.02 BOSTON PROPERTIE 2019479 60.07 7 673
0.02 PAYCOM SOFTWARE BL95MY0 166.72 3 672
0.02 BROWN-FORMAN -B 2146838 47.49 9 670
0.02 FOX CORP - A BJJMGL2 31.66 14 659
0.02 MOSAIC CO/THE B3NPHP6 28.41 15 659
0.02 MGM RESORTS INTE 2547419 40.87 11 658
0.02 HUNTINGTON INGAL B40SSC9 245.19 2 648
0.02 QORVO INC BR9YYP4 95.67 4 646
0.02 F5 INC 2427599 166.07 3 638
0.02 APA CORP BNNF1C1 29.18 14 631
0.02 COMERICA INC 2212870 51.87 8 625
0.02 WYNN RESORTS LTD 2963811 95.27 4 615
0.02 AMERICAN AIRLINE BCV7KT2 13.86 29 610
0.02 PARAMOUNT GLOB-B BKTNTR9 13.86 29 608
0.02 CAMDEN PROP TR 2166320 100.53 4 607
0.02 DAYFORCE INC BFX1V56 57.73 7 606
0.02 SOLVENTUM BMTQB43 65.14 6 606
0.02 NEWS CORP-CL A BBGVT40 24.00 16 604
0.02 HASBRO INC 2414580 61.18 6 602
0.02 MARKETAXESS B03Q9D0 209.12 2 602
0.02 CAESARS ENTERTAI BMWWGB0 35.14 11 585
0.02 HENRY SCHEIN INC 2416962 68.60 5 570
0.02 ASSURANT INC 2331430 174.62 2 563
0.02 TAPESTRY INC BF09HX3 38.79 9 547
0.02 DAVITA INC 2898087 142.24 2 535
0.02 INVESCO LTD B28XP76 14.53 24 529
0.02 FMC CORP 2328603 60.53 6 528
0.02 PINNACLE WEST 2048804 75.04 5 524
0.02 BORGWARNER INC 2111955 35.63 9 514
0.02 ROBERT HALF INC 2110703 69.58 5 500
0.02 ETSY INC BWTN5N1 59.24 5 494
0.02 GLOBE LIFE INC BK6YKG1 79.28 4 475
0.02 NORWEGIAN CRUISE B9CGTC3 15.95 19 475
0.02 FED REALTY INVS BN7P9B2 104.91 3 462
0.02 BIO-RAD LABS-A 2098508 279.31 1 462
0.02 RALPH LAUREN COR B4V9661 164.92 2 452
0.01 MOHAWK INDS 2598699 115.62 2 426
0.01 FRANKLIN RES INC 2350684 22.97 11 397
0.01 NEWS CORP-CL B BBGVT51 24.78 8 308
0.01 FOX CORP - B BJJMGY5 29.25 5 232
SPX 5 C5005 97.40 -4 -57,601
Holdings are subject to change.

Sector Breakdown As of 3 May 2024

Sector Weight (%)
Information Technology 29.3
Financials 13.0
Health Care 12.5
Consumer Discretionary 10.5
Communication Services 9.4
Industrials 8.9
Consumer Staples 6.4
Energy 4.1
Materials 2.3
Utilities 2.2
Real Estate 2.2

Country Breakdown As of 3 May 2024

Country Weight (%)
United States 98.9
Ireland 1.0
Switzerland 0.3
Netherlands 0.2
Bermuda 0.1
Britain 0.1

Research

Spotlight on UYLD: An S&P 500 Covered Call Strategy

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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




Announcements/Notices

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.

Global X Management (AUS) Limited (“Global X”) (Australian Financial Services Licence Number 466778, ACN 150 433 828) is the product issuer. Offers of interests in any retail product will only be made in, or accompanied by, a Product Disclosure Statement (PDS). In respect of each retail product, Global X has prepared a target market determination (TMD). Each PDS and TMD is available at www.globalxetfs.com.au. The information on this website is general in nature only and does not take into account your personal objectives, financial situations or needs. Before acting on any information, you should consider the appropriateness of the information having regard to your objectives, financial situation or needs and consider seeking independent financial, legal, tax and other relevant advice having regard to your particular circumstances. Any investment decision should only be made after obtaining and considering the relevant PDS and TMD. Investments in any product issued by Global X are subject to investment risk, including possible delays in repayment and loss of income and principal invested. The value or return of an investment will fluctuate and an investor may lose some or all of their investment. Past performance is not a reliable indicator of future performance.

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