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Beacon

BUYWMain Buywrite ETF

Get income10y track recordRanked #708 of 1,622 in this goal

Seeks total return from current income and long-term capital appreciation.

By Main Management ETFs · Launched 2015

Annual Cost

0.99%

#4,898 of 5,562 · expensive

Fund Size

$1.2B

#1,014 of 5,562 · large

Dividend YieldGoal

5.92%

Track Record

10 years

#1,382 of 5,562 · established

Performance

Total-return NAV · USD
Growth of $10,000
$10,992+9.9%

Total-return NAV, USD. Net of fund fees, before tax.

Classification

How Beacon categorizes this fund

Asset class

Alternative

Region

Global

Strategy

Option income

What it actually holds

By weight

Concentration

Top 10 holdings = 112.3% of fund✓ diversified through underlying funds

iShares Trust
43.3%
BNY Mellon ETF Trust
12.4%
Select Sector Spdr Trust
11.7%
Select Sector Spdr Trust
10.9%
Invesco Exchange Traded Fund Trust II
10.8%
Select Sector Spdr Trust
10.5%
Select Sector Spdr Trust
10.4%
State Street Institutional Investment Trust
3.0%
N/A
-0.0%
N/A
-0.7%

Asset allocation

Stocks
97.5%
Bonds
1.5%
Cash
1.0%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
4.8%Low

Year-on-year price swings

Max drawdown
-9.4%Mild

Worst peak-to-trough loss

Sharpe (3Y)
0.65Decent risk-adjusted returns
Sortino (3Y)
1.01Good downside protection

Where to buy

Listing

Exchange
Cboe BZX

Full fund details

Objective
Seeks total return from current income and long-term capital appreciation.
Strategy
Invests primarily in domestic and international ETFs while employing a BuyWrite strategy, writing call options on owned securities to generate income. The Fund also writes secured put options and targets risk-adjusted returns through strategic asset allocation based on macroeconomic analysis.
Inception date
December 29, 2015
Fund family
Main Management ETFs

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Covered call
Warning

Covered call ETF — yield ≠ total return

The high distribution yield is not free income — it comes from selling upside via call options. Research finds these strategies systematically underperform their underlying index over full cycles, typically by 100–300 basis points per year depending on the option-overlay design. The monthly distributions make the shortfall hard to see in return summaries.

Source: Israelov & Ndong, 'A Devil's Bargain: When Generating Income Undermines Investment Returns' (NDVR, 2023)

Why we flagged this: strategy=option_income + option_income_strategy

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-06-20