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BUYWMain Buywrite ETF

Get income10y track recordRanked #692 of 1,650 in this goal

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

By Main Management ETFs · Launched 2015

Annual Cost

0.99%

#5,127 of 5,861 · expensive

Fund Size

$1.2B

#1,022 of 5,861 · large

Dividend YieldGoal

5.93%

Track Record

10 years

#1,361 of 5,861 · established

Performance

Total-return NAV · USD
Growth of $10,000
$10,883+8.8%

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

What's inside

How Beacon categorizes this fund

Asset class

Alternative

Region

Global

Strategy

Option income

What it actually holds

By weight

Concentration

Top 10 holdings = 113.7% of fund✓ diversified through underlying funds

SPDR SERIES TRUST
41.1%
ISHARES TRUST
15.4%
SELECT SECTOR SPDR TRUST (THE)
13.1%
INVESCO EXCHANGE-TRADED FUND TRUST II
11.1%
SELECT SECTOR SPDR TRUST (THE)
10.9%
SELECT SECTOR SPDR TRUST (THE)
10.5%
SELECT SECTOR SPDR TRUST (THE)
9.2%
ISHARES TRUST
1.2%
STATE STREET INSTITUTIONAL INVESTMENT TRUST
1.1%
N/A
-0.0%

Asset allocation

Stocks
97.1%
Cash
1.5%
Bonds
1.4%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
4.9%Low

Year-on-year price swings

Max drawdown
-9.4%Mild

Worst peak-to-trough loss

Sharpe (3Y)
0.66Decent risk-adjusted returns
Sortino (3Y)
1.02Good downside protection

Listing

Exchange
Cboe BZX

Full fund details

Objective
Seeks total return from current income and long-term capital appreciation.
Strategy
Actively manages a portfolio of domestic and international ETFs using a BuyWrite strategy to generate income from option premiums and capital appreciation. Targets risk-adjusted returns through strategic asset allocation and may invest in bitcoin ETFs up to 15% of assets.
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

The big yield isn't extra money

The headline distribution comes from selling call options, which caps the fund's upside. Across a full market cycle that trade costs more than it brings in — often 1 to 3 percentage points a year against just holding the index. Monthly payouts make the gap easy to miss on a return summary.

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

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 2026-08-04