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IWMWiShares Russell 2000 BuyWrite ETF

Get income2y track recordRanked #903 of 1,650 in this goal

Tracks the investment results of the Cboe FTSE Russell IWM 2% OTM BuyWrite Index.

By iShares · Launched 2024

Annual Cost

0.39%

#1,918 of 5,861 · low cost

Fund Size

$56M

#3,538 of 5,861 · mid-size

Dividend YieldGoal

8.59%

Track Record

2 years

#3,395 of 5,861 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$12,508+25.1%

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

What's inside

How Beacon categorizes this fund

Asset class

Alternative

Region

North america

Strategy

Option income

Index tracked

Cboe FTSE Russell IWM 2% OTM BuyWrite Index

What it actually holds

By weight

Concentration

Top 3 holdings = 100.0% of fundconcentrated

iShares Russell 2000 ETF
102.3%
BLACKROCK CASH FUNDS TREASURY SL AGENCY SHARES
0.2%
Options Clearing Corp.
-2.4%

Asset allocation

Cash
59.2%
Stocks
40.8%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
12.7%Moderate

Year-on-year price swings

Max drawdown
-21.8%Moderate

Worst peak-to-trough loss

Sharpe (3Y)
Unavailable

Needs 3+ years of history

Sortino (3Y)
Not yet

Needs 3+ years of history

Listing

Exchange
Cboe BZX

Full fund details

Objective
Tracks the investment results of the Cboe FTSE Russell IWM 2% OTM BuyWrite Index.
Strategy
Seeks to generate income by holding the iShares Russell 2000 ETF and writing one-month call options on the Russell 2000 Index. This buy-write strategy targets the small-capitalization sector of the U.S. equity market.
Inception date
March 14, 2024
Fund family
iShares

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