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SCLZSwan Enhanced Dividend Income ETF

Get income2y track recordRanked #1,456 of 1,650 in this goal

Seeks income and modest capital appreciation.

By Swan Capital Management LLC · Launched 2024

Annual Cost

0.79%

#4,215 of 5,861 · expensive

Fund Size

$20M

#4,482 of 5,861 · small

Dividend YieldGoal

8.01%

Track Record

2 years

#3,360 of 5,861 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$11,317+13.2%

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

What it actually holds

By weight

Concentration

Top 10 holdings = 44.8% of fundmoderately concentrated

Apple Inc.
6.6%
NVIDIA Corp.
6.4%
Broadcom Inc
4.8%
Alphabet Inc.
4.6%
Microsoft Corp.
4.3%
Meta Platforms Inc
3.7%
Amazon.com, Inc.
3.7%
Eli Lilly & Co.
3.6%
JPMorgan Chase & Co.
3.6%
Berkshire Hathaway Inc.
3.4%

Asset allocation

Stocks
97.6%
Cash
2.4%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
10.2%Moderate

Year-on-year price swings

Max drawdown
-12.6%Mild

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
Seeks income and modest capital appreciation.
Strategy
Actively manages a portfolio primarily invested in large-cap and mid-cap U.S. dividend-paying common stocks, enhancing returns by writing covered call options. The sub-adviser uses a quantitative screening process based on historic dividend yields and capital appreciation potential.
Inception date
February 26, 2024
Fund family
Swan Capital Management LLC

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