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 1 Jul 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 1 Jul 2024

NAV/Unit (A$) 10.77290000
Currency (NAV) AUD
Shares Outstanding 320,617
AUM (A$) 3,453,986.33
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 31 May 2024

12-Month Yield 7.80%
12-Month Franking Level 0.00%
Distribution Frequency Monthly
Distribution History View

Performance Table As of 1 Jul 2024

Total Return (Fund) Total Return (Benchmark) Tracking Difference Tracking Error
1 Month 1.81% 2.06% -0.25% 0.87%
3 Months -0.14% -0.16% 0.02% 1.12%
1 Year 7.46% 9.32% -1.86% 1.38%
3 Year p.a. -- -- -- --
5 Year p.a. -- -- -- --
10 Year p.a. -- -- -- --
Since Inception p.a. 13.96% 16.23% -2.27% 1.20%

Top Holdings As of 2 Jul 2024

Full Holdings (.xlsx)
Net Assets (%) Name SEDOL Market Price (Local) Shares Held Market Value (A$)
7.45 MICROSOFT CORP 2588173 456.73 375 257,271
6.85 APPLE INC 2046251 216.75 726 236,773
6.71 NVIDIA CORP 2379504 124.30 1,240 231,722
3.96 AMAZON.COM INC 2000019 197.20 461 136,815
2.42 META PLATFORMS-A B7TL820 504.68 110 83,743
2.36 ALPHABET INC-A BYVY8G0 182.99 296 81,398
1.98 ALPHABET INC-C BYY88Y7 184.49 246 68,252
1.61 BERKSHIRE HATH-B 2073390 405.19 91 55,521
1.60 ELI LILLY & CO 2516152 914.37 40 55,248
1.57 BROADCOM INC BDZ78H9 1,640.80 22 54,084
1.29 JPMORGAN CHASE 2190385 205.45 144 44,627
1.27 TESLA INC B616C79 209.86 140 44,032
1.13 EXXON MOBIL CORP 2326618 114.96 226 38,999
1.00 UNITEDHEALTH GRP 2917766 494.65 46 34,421
0.91 VISA INC-CLASS A B2PZN04 263.24 79 31,324
0.84 PROCTER & GAMBLE 2704407 162.72 119 29,023
0.82 COSTCO WHOLESALE 2701271 845.67 22 28,336
0.79 MASTERCARD INC-A B121557 437.61 41 27,149
0.77 JOHNSON&JOHNSON 2475833 146.44 121 26,627
0.73 HOME DEPOT INC 2434209 336.19 50 25,167
0.71 MERCK & CO 2778844 127.90 127 24,463
0.66 ABBVIE INC B92SR70 170.37 89 22,711
0.63 NETFLIX INC 2857817 673.61 22 21,905
0.63 WALMART INC 2936921 67.48 214 21,759
0.59 BANK OF AMERICA 2295677 40.01 341 20,540
0.59 CHEVRON CORP 2838555 156.52 86 20,243
0.56 ADV MICRO DEVICE 2007849 157.69 81 19,230
0.55 ADOBE INC 2008154 560.01 22 18,922
0.54 SALESFORCE INC 2310525 256.21 49 18,763
0.54 COCA-COLA CO/THE 2206657 63.28 194 18,503
0.51 ORACLE CORP 2661568 143.09 81 17,466
0.50 QUALCOMM INC 2714923 200.03 57 17,117
0.49 PEPSICO INC 2681511 162.89 69 16,886
0.46 WELLS FARGO & CO 2649100 60.59 175 15,914
0.45 THERMO FISHER 2886907 541.72 19 15,591
0.45 LINDE PLC BNZHB81 429.11 24 15,548
0.44 APPLIED MATERIAL 2046552 237.41 42 15,099
0.42 ACCENTURE PLC-A B4BNMY3 302.55 32 14,508
0.42 CISCO SYSTEMS 2198163 47.52 203 14,492
0.40 INTUIT INC 2459020 650.77 14 13,929
0.40 ABBOTT LABS 2002305 103.20 88 13,704
0.39 MCDONALDS CORP 2550707 249.99 36 13,570
0.39 TEXAS INSTRUMENT 2885409 194.60 46 13,533
0.39 WALT DISNEY CO/T 2270726 98.04 91 13,458
0.39 VERIZON COMMUNIC 2090571 41.74 214 13,409
0.38 GENERAL ELECTRIC BL59CR9 158.97 55 13,223
0.37 AMGEN INC 2023607 311.01 27 12,707
0.36 SERVICENOW INC B80NXX8 788.96 10 12,331
0.36 DANAHER CORP 2250870 244.51 33 12,291
0.35 IBM 2005973 175.10 46 12,228
0.35 PFIZER INC 2684703 28.22 287 12,167
0.35 CATERPILLAR INC 2180201 329.08 24 12,108
0.35 PHILIP MORRIS IN B2PKRQ3 101.25 79 11,994
0.34 INTUITIVE SURGIC 2871301 436.24 18 11,711
0.33 GOLDMAN SACHS GP 2407966 463.66 16 11,235
0.33 COMCAST CORP-A 2044545 38.17 196 11,231
0.32 UBER TECHNOLOGIE BK6N347 71.10 104 11,132
0.32 MICRON TECH 2588184 131.52 56 11,053
0.32 NEXTERA ENERGY 2328915 69.90 104 10,943
0.32 S&P GLOBAL INC BYV2325 446.32 16 10,918
0.31 HONEYWELL INTL 2020459 210.95 33 10,584
0.31 LAM RESEARCH 2502247 1,060.63 7 10,569
0.30 UNION PAC CORP 2914734 224.86 31 10,451
0.30 AT&T INC 2831811 18.98 361 10,309
0.30 CONOCOPHILLIPS 2685717 114.36 60 10,263
0.29 AMERICAN EXPRESS 2026082 233.81 29 10,184
0.29 RTX CORP BM5M5Y3 99.55 67 10,057
0.29 BOOKING HOLDINGS BDRXDB4 3,884.88 2 9,927
0.29 INTEL CORP 2463247 30.84 214 9,919
0.28 TJX COS INC 2989301 110.58 57 9,557
0.28 ELEVANCE HEALTH BSPHGL4 534.55 12 9,552
0.27 EATON CORP PLC B8KQN82 312.37 20 9,474
0.27 MORGAN STANLEY 2262314 99.16 63 9,441
0.27 LOWE'S COS INC 2536763 213.56 29 9,348
0.27 PROGRESSIVE CORP 2705024 209.46 30 9,316
0.27 VERTEX PHARM 2931034 471.25 13 9,224
0.27 CITIGROUP INC 2297907 63.43 96 9,167
0.25 STRYKER CORP 2853688 336.50 17 8,627
0.25 BOSTON SCIENTIFC 2113434 76.41 74 8,479
0.25 KLA CORP 2480138 827.79 7 8,475
0.24 REGENERON PHARM 2730190 1,057.02 5 8,445
0.24 ANALOG DEVICES 2032067 225.18 25 8,445
0.24 PALO ALTO NETWOR B87ZMX0 340.90 16 8,339
0.24 BLACKROCK INC 2494504 782.27 7 8,315
0.24 SCHWAB (CHARLES) 2779397 73.42 75 8,288
0.23 BOEING CO/THE 2108601 186.70 29 8,105
0.23 MARSH & MCLENNAN 2567741 210.25 25 7,831
0.23 PROLOGIS INC B44WZD7 111.95 46 7,824
0.23 CHUBB LTD B3BQMF6 254.82 20 7,815
0.23 MEDTRONIC PLC BTN1Y11 77.12 67 7,774
0.22 LOCKHEED MARTIN 2522096 466.44 11 7,576
0.22 UNITED PARCEL-B 2517382 135.95 36 7,443
0.21 AUTOMATIC DATA 2065308 235.67 21 7,314
0.21 DEERE & CO 2261203 360.99 13 7,121
0.21 NIKE INC -CL B 2640147 76.83 61 7,087
0.20 T-MOBILE US INC B94Q9V0 179.08 26 7,028
0.20 THE CIGNA GROUP BHJ0775 326.27 14 6,928
0.20 SYNOPSYS INC 2867719 601.75 8 6,924
0.20 AMERICAN TOWER C B7FBFL2 194.02 23 6,820
0.20 CROWDSTRIKE HO-A BJJP138 392.15 11 6,757
0.20 ARISTA NETWORKS BN33VM5 356.70 13 6,757
0.19 MONDELEZ INTER-A B8CKK03 65.24 68 6,631
0.19 BLACKSTONE INC BKF2SL7 122.23 36 6,621
0.19 STARBUCKS CORP 2842255 77.13 57 6,574
0.19 FISERV INC 2342034 147.14 29 6,433
0.19 GILEAD SCIENCES 2369174 68.64 62 6,430
0.19 BUNGE GLOBAL SA BQ6BPG9 107.32 40 6,391
0.18 CHIPOTLE MEXICAN B0X7DZ3 61.81 69 6,368
0.18 CADENCE DESIGN 2302232 310.92 14 6,324
0.18 BRISTOL-MYER SQB 2126335 41.30 101 6,251
0.18 ALTRIA GROUP INC 2692632 46.03 88 6,096
0.18 AMPHENOL CORP-A 2145084 67.52 60 6,079
0.17 ZOETIS INC B95WG16 172.58 23 5,949
0.17 INTERCONTINENTAL BFSSDS9 136.93 28 5,858
0.17 COLGATE-PALMOLIV 2209106 95.54 41 5,848
0.17 MCKESSON CORP 2378534 586.34 7 5,778
0.17 DUKE ENERGY CORP B7VD3F2 99.35 38 5,747
0.16 WASTE MANAGEMENT 2937667 209.36 18 5,697
0.16 GE VERNOVA INC BP6H4Y1 167.52 23 5,670
0.16 EOG RESOURCES 2318024 126.54 29 5,530
0.16 CVS HEALTH CORP 2577609 58.15 63 5,472
0.16 TRANE TECHNOLOGI BK9ZQ96 321.36 11 5,422
0.16 EQUINIX INC BVLZX12 759.68 5 5,364
0.15 CME GROUP INC 2965839 195.50 18 5,240
0.15 SHERWIN-WILLIAMS 2804211 295.79 12 5,215
0.15 FREEPORT-MCMORAN 2352118 48.41 71 5,203
0.15 TRANSDIGM GROUP B11FJK3 1,252.72 3 5,185
0.15 KKR & CO INC BG1FRR1 104.51 33 5,179
0.15 NXP SEMICONDUCTO B505PN7 265.67 13 5,057
0.15 TARGET CORP 2259101 145.74 23 5,036
0.15 FEDEX CORP 2142784 298.68 11 5,014
0.14 SCHLUMBERGER LTD 2779201 46.58 71 4,949
0.14 BECTON DICKINSON 2087807 229.27 14 4,927
0.14 MOODY'S CORP 2252058 421.49 8 4,925
0.14 AIRBNB INC-A BMGYYH4 151.63 22 4,910
0.14 CSX CORP 2160753 33.59 97 4,881
0.14 GENERAL DYNAMICS 2365161 287.87 11 4,874
0.14 CONSTELLATION EN BMH4FS1 205.05 16 4,808
0.14 AON PLC-CLASS A BLP1HW5 293.49 11 4,799
0.14 MARATHON PETROLE B3K3L40 174.79 18 4,798
0.14 MOTOROLA SOLUTIO B5BKPQ4 386.37 8 4,795
0.14 PARKER HANNIFIN 2671501 501.01 6 4,788
0.14 ROPER TECHNOLOGI 2749602 562.63 6 4,725
0.14 ILLINOIS TOOL WO 2457552 233.41 13 4,714
0.13 HCA HEALTHCARE I B4MGBG6 315.12 10 4,635
0.13 PNC FINANCIAL SE 2692665 156.14 20 4,608
0.13 EMERSON ELEC CO 2313405 108.05 28 4,598
0.13 US BANCORP 2736035 39.24 77 4,546
0.13 NORTHROP GRUMMAN 2648806 435.00 7 4,494
0.13 PAYPAL HOLDINGS BYW36M8 57.81 52 4,492
0.13 CINTAS CORP 2197137 694.10 4 4,440
0.13 ECOLAB INC 2304227 235.50 13 4,437
0.13 PHILLIPS 66 B78C4Y8 140.93 21 4,429
0.13 O'REILLY AUTOMOT B65LWX6 1,016.32 3 4,406
0.13 MARRIOTT INTL-A 2210614 239.51 12 4,384
0.13 ARTHUR J GALLAGH 2359506 259.22 11 4,378
0.13 3M CO 2595708 100.61 29 4,339
0.12 EDWARDS LIFE 2567116 90.25 32 4,294
0.12 AIR PRODS & CHEM 2011602 247.34 12 4,289
0.12 WELLTOWER INC BYVYHH4 104.00 27 4,256
0.12 SOLVENTUM BMTQB43 51.45 55 4,221
0.12 AUTODESK INC 2065159 245.83 11 4,123
0.12 VALERO ENERGY 2041364 157.98 17 3,977
0.11 HILTON WORLDWIDE BYVMW06 214.23 12 3,965
0.11 GENERAL MOTORS C B665KZ5 46.68 56 3,943
0.11 PACCAR INC 2665861 101.84 26 3,933
0.11 CAPITAL ONE FINA 2654461 139.70 19 3,927
0.11 TRUIST FINANCIAL BKP7287 39.25 66 3,878
0.11 MICROCHIP TECH 2592174 91.59 28 3,847
0.11 ROSS STORES INC 2746711 145.24 18 3,832
0.11 WILLIAMS COS INC 2967181 42.39 60 3,819
0.11 CARRIER GLOB BK4N0D7 61.90 41 3,816
0.11 NORFOLK SOUTHERN 2641894 214.06 12 3,798
0.11 SIMON PROPERTY 2812452 146.52 17 3,728
0.11 DIGITAL REALTY B03GQS4 152.13 16 3,710
0.11 FORD MOTOR CO 2615468 12.76 192 3,689
0.11 AMERICAN INTERNA 2027342 74.49 33 3,651
0.11 AUTOZONE INC 2065955 2,832.79 1 3,643
0.10 TRAVELERS COS IN 2769503 202.97 12 3,615
0.10 TE CONNECTIVITY B62B7C3 148.47 16 3,588
0.10 NEWMONT CORP 2636607 41.65 57 3,546
0.10 REALTY INCOME 2724193 52.36 45 3,532
0.10 DEXCOM B0796X4 112.17 21 3,512
0.10 SEMPRA 2138158 74.97 31 3,500
0.10 ONEOK INC 2130109 81.72 28 3,493
0.10 COPART INC 2208073 53.35 43 3,443
0.10 KIMBERLY-CLARK 2491839 137.82 17 3,423
0.10 AFLAC INC 2026361 89.06 25 3,394
0.10 GE VERNOVA INC BP6H4Y1 167.52 13 3,390
0.10 AMERICAN ELECTRI 2026242 87.28 26 3,365
0.10 AMERIPRISE FINAN B0J7D57 426.09 5 3,335
0.10 HUMANA INC 2445063 373.49 6 3,312
0.10 PUBLIC STORAGE 2852533 283.13 8 3,304
0.10 OCCIDENTAL PETE 2655408 62.88 35 3,294
0.09 JOHNSON CONTROLS BY7QL61 65.52 33 3,253
0.09 CROWN CASTLE INC BTGQCX1 95.98 22 3,242
0.09 SUPER MICRO COMP B1VQR35 812.32 3 3,155
0.09 UNITED RENTALS 2134781 640.84 3 3,128
0.09 PRUDENTL FINL 2819118 117.53 18 3,102
0.09 ALLSTATE CORP 2019952 160.54 13 3,082
0.09 METLIFE INC 2573209 69.88 29 3,070
0.09 L3HARRIS TECHNOL BK9DTN5 221.96 9 3,053
0.09 FIDELITY NATIONA 2769796 74.27 27 3,037
0.09 CONSTELLATION-A 2170473 256.29 8 3,004
0.09 NUCOR CORP 2651086 157.00 13 2,993
0.09 DR HORTON INC 2250687 137.02 14 2,985
0.09 HESS CORP 2023748 148.12 13 2,967
0.09 FORTINET INC B5B2106 59.85 33 2,962
0.09 DOMINION ENERGY 2542049 48.01 41 2,957
0.09 ARCH CAPITAL GRP 2740542 100.65 19 2,942
0.08 MONOLITHIC POWER B01Z7J1 819.40 2 2,931
0.08 REPUBLIC SVCS 2262530 192.88 10 2,895
0.08 WW GRAINGER INC 2380863 896.19 2 2,885
0.08 IDEXX LABS 2459202 476.40 4 2,885
0.08 AGILENT TECH INC 2520153 127.40 15 2,884
0.08 MODERNA INC BGSXTS3 115.95 16 2,847
0.08 OTIS WORLDWI BK531S8 94.95 20 2,814
0.08 AMETEK INC 2089212 165.57 11 2,811
0.08 VERISK ANALYTI B4P9W92 268.11 7 2,807
0.08 CENTENE CORP 2807061 65.34 28 2,782
0.08 MSCI INC B2972D2 479.31 4 2,780
0.08 KINDER MORGAN IN B3NQ4P8 19.79 93 2,763
0.08 IQVIA HOLDINGS I BDR73G1 208.49 9 2,760
0.08 PAYCHEX INC 2674458 117.00 16 2,750
0.08 KROGER CO 2497406 50.56 36 2,731
0.08 LULULEMON ATH B23FN39 302.36 6 2,719
0.08 FAIR ISAAC CORP 2330299 1,496.51 1 2,715
0.08 DOW INC BHXCF84 52.63 34 2,712
0.08 ROYAL CARIBBEAN 2754907 156.47 12 2,708
0.08 CORTEVA INC BK73B42 53.07 34 2,707
0.08 CUMMINS INC 2240202 272.29 7 2,688
0.08 PG&E CORP 2689560 17.17 104 2,687
0.08 DISCOVER FINANCI B1YLC43 132.95 13 2,676
0.08 QUANTA SERVICES 2150204 247.61 7 2,662
0.08 CENCORA INC 2795393 223.53 8 2,660
0.08 KENVUE INC BQ84ZQ6 17.95 98 2,648
0.08 DIAMONDBACK ENER B7Y8YR3 203.71 9 2,648
0.08 INGERSOLL-RAND I BL5GZ82 89.54 20 2,644
0.08 PUB SERV ENTERP 2707677 73.63 24 2,641
0.08 YUM! BRANDS INC 2098876 129.70 13 2,632
0.08 GENERAL MILLS IN 2367026 63.30 28 2,618
0.08 LENNAR CORP-A 2511920 145.93 12 2,616
0.08 FASTENAL CO 2332262 62.09 28 2,603
0.07 GARTNER INC 2372763 441.32 4 2,455
0.07 COSTAR GROUP INC 2262864 73.88 22 2,448
0.07 HOWMET AEROSPACE BKLJ8V2 77.30 21 2,428
0.07 HALLIBURTON CO 2405302 33.43 48 2,418
0.07 DUPONT DE NEMOUR BK0VN47 79.27 20 2,415
0.07 DEVON ENERGY CO 2480677 47.73 33 2,404
0.07 CORNING INC 2224701 38.66 41 2,393
0.07 CHARTER COMMUN-A BZ6VT82 296.02 5 2,373
0.07 AVALONBAY COMMUN 2131179 204.32 8 2,362
0.07 VULCAN MATERIALS 2931205 243.72 6 2,350
0.07 EXTRA SPACE STOR B02HWR9 151.92 10 2,345
0.07 DOLLAR GENERAL C B5B1S13 130.58 12 2,344
0.07 HP INC BYX4D52 34.97 44 2,339
0.07 ARCHER-DANIELS 2047317 60.64 25 2,307
0.07 EQUIFAX INC 2319146 236.42 6 2,296
0.07 VICI PROPERTIES BYWH073 27.90 55 2,290
0.07 OLD DOMINION FRT 2656423 178.70 8 2,272
0.07 ANSYS INC 2045623 321.16 5 2,268
0.07 MONSTER BEVERAGE BZ07BW4 49.90 34 2,586
0.07 XYLEM INC B3P2CN8 131.53 13 2,582
0.07 ELECTRONIC ARTS 2310194 137.32 12 2,567
0.07 MARTIN MAR MTLS 2572079 532.05 3 2,560
0.07 SYSCO CORP 2868165 69.88 24 2,546
0.07 EXELON CORP 2670519 34.55 49 2,523
0.07 SOLVENTUM BMTQB43 51.45 33 2,521
0.07 KEURIG DR PEPPER BD3W133 32.84 51 2,506
0.07 BAKER HUGHES CO BDHLTQ5 34.94 48 2,498
0.07 BIOGEN INC 2455965 231.77 7 2,460
0.07 COGNIZANT TECH-A 2257019 67.74 24 2,458
0.06 EDISON INTL 2829515 71.19 21 2,232
0.06 HEWLETT PACKA BYVYWS0 21.16 70 2,229
0.06 PPG INDS INC 2698470 123.98 12 2,228
0.06 DELTA AIR LI B1W9D46 46.92 31 2,203
0.06 ROCKWELL AUTOMAT 2754060 265.52 6 2,196
0.06 TARGA RESOURCES B55PZY3 131.27 11 2,194
0.06 CONS EDISON INC 2216850 88.81 16 2,191
0.06 WILLIS TOWERS WA BDB6Q21 259.42 6 2,172
0.06 ON SEMICONDUCTOR 2583576 69.18 21 2,158
0.06 HARTFORD FINL SV 2476193 99.89 14 2,144
0.06 CDW CORP/DE BBM5MD6 219.19 7 2,143
0.06 METTLER-TOLEDO 2126249 1,366.84 1 2,130
0.06 IRON MOUNTAIN BVFTF03 89.69 16 2,127
0.06 XCEL ENERGY INC 2614807 52.43 27 2,114
0.06 RESMED INC 2732903 186.94 7 2,094
0.06 WABTEC CORP 2955733 155.55 9 2,084
0.06 VISTRA CORP BZ8VJQ8 87.34 16 2,066
0.06 T ROWE PRICE GRP 2702337 113.85 12 2,059
0.06 TRACTOR SUPPLY 2900335 267.74 5 2,050
0.06 HERSHEY CO/THE 2422806 182.45 7 2,050
0.06 NETAPP INC 2630643 130.24 10 2,024
0.06 AMERICAN WATER W B2R3PV1 127.76 11 2,024
0.06 WESTERN DIGITAL 2954699 76.38 17 2,008
0.06 WEC ENERGY GROUP BYY8XK8 77.69 17 1,994
0.06 GARMIN LTD B3Z5T14 161.10 8 1,990
0.06 DOVER CORP 2278407 176.99 7 1,987
0.06 EQUITY RESIDENTI 2319157 68.14 19 1,956
0.06 CARDINAL HEALTH 2175672 97.76 13 1,953
0.06 FORTIVE CORP BYT3MK1 72.12 18 1,948
0.06 DECKERS OUTDOOR 2267278 946.30 1 1,934
0.06 EBAY INC 2293819 52.68 24 1,926
0.06 KEYSIGHT TEC BQZJ0Q9 134.93 9 1,918
0.06 M&T BANK CORP 2340168 149.82 9 1,915
0.06 CHURCH & DWIGHT 2195841 104.87 12 1,915
0.06 NVR INC 2637785 7,482.16 0 1,912
0.06 FIFTH THIRD BANC 2336747 36.27 35 1,904
0.05 CBRE GROUP INC-A B6WVMH3 85.97 14 1,872
0.05 TAKE-TWO INTERAC 2122117 154.29 8 1,850
0.05 DOLLAR TREE INC 2272476 107.25 11 1,830
0.05 TERADYNE INC 2884183 147.77 8 1,822
0.05 KRAFT HEINZ CO/T BYRY499 31.86 38 1,812
0.05 LYONDELLBASELL-A B3SPXZ3 94.64 13 1,802
0.05 NASDAQ INC 2965107 59.48 20 1,801
0.05 ESTEE LAUDER 2320524 105.38 11 1,773
0.05 RAYMOND JAMES 2718992 123.20 9 1,758
0.05 GLOBAL PAYMENTS 2712013 95.68 12 1,754
0.05 PTC INC B95N910 181.02 6 1,751
0.05 INTL FLVR & FRAG 2464165 93.14 12 1,733
0.05 FIRST SOLAR INC B1HMF22 222.71 5 1,724
0.05 ZIMMER BIOMET HO 2783815 105.96 11 1,715
0.05 VENTAS INC 2927925 50.88 22 1,706
0.05 BROWN & BROWN 2692687 89.11 13 1,704
0.05 VERALTO CORP BPGMZQ5 95.45 12 1,696
0.05 WEST PHARMACEUT 2950482 324.55 3 1,692
0.05 BROADRIDGE FINL B1VP7R6 196.56 6 1,666
0.05 AXON ENTERPRISE BDT5S35 289.21 4 1,665
0.05 TYLER TECHNOLOG 2909644 499.52 2 1,651
0.05 STERIS PLC BFY8C75 218.54 5 1,636
0.05 WEYERHAEUSER CO 2958936 27.56 39 1,632
0.05 LEIDOS HOLDINGS BDV82B8 145.56 7 1,625
0.05 COTERRA ENERGY I 2162340 26.54 41 1,618
0.05 DTE ENERGY CO 2280220 109.12 10 1,616
0.05 ENTERGY CORP 2317087 105.74 10 1,615
0.05 FIRSTENERGY CORP 2100920 38.31 28 1,605
0.05 PULTEGROUP INC 2708841 106.23 10 1,600
0.05 HUNTINGTON BANC 2445966 13.16 79 1,572
0.05 SEAGATE TECHNOLO BKVD2N4 102.44 10 1,569
0.05 CENTERPOINT ENER 2440637 30.55 34 1,564
0.04 APTIV PLC B783TY6 68.44 15 1,554
0.04 INVITATION HOMES BD81GW9 35.78 29 1,542
0.04 STEEL DYNAMICS 2849472 129.15 8 1,540
0.04 REGIONS FINANCIA B01R311 19.90 51 1,539
0.04 CINCINNATI FIN 2196888 119.19 9 1,535
0.04 STATE ST CORP 2842040 73.56 14 1,526
0.04 AMEREN CORP 2050832 70.75 14 1,520
0.04 CBOE GLOBAL MARK B5834C5 171.92 6 1,516
0.04 GENUINE PARTS CO 2367480 133.85 7 1,497
0.04 BALL CORP 2073022 59.55 17 1,485
0.04 SBA COMM CORP BZ6TS23 189.78 5 1,450
0.04 NORTHERN TRUST 2648668 83.83 11 1,444
0.04 EVERSOURCE ENERG BVVN4Q8 56.56 17 1,441
0.04 PPL CORP 2680905 27.36 35 1,435
0.04 DARDEN RESTAURAN 2289874 148.33 6 1,433
0.04 SYNCHRONY FINANC BP96PS6 48.11 20 1,416
0.04 GODADDY INC-A BWFRFC6 141.50 7 1,412
0.04 OMNICOM GROUP 2279303 87.69 11 1,409
0.04 CMS ENERGY CORP 2219224 58.80 16 1,406
0.04 JACOBS SOLUTIONS BNGC0D3 138.30 7 1,405
0.04 SKYWORKS SOLUTIO 2961053 106.40 9 1,400
0.04 EXPEDITORS INTL 2325507 120.87 8 1,393
0.04 ULTA BEAUTY INC B28TS42 384.41 2 1,392
0.04 CLOROX CO 2204026 134.24 7 1,386
0.04 CITIZENS FINANCI BQRX1X3 35.83 26 1,375
0.04 LABCORP HOLDINGS BSBK800 203.13 4 1,374
0.04 WATERS CORP 2937689 282.70 3 1,372
0.04 NRG ENERGY 2212922 77.85 12 1,367
0.04 MARATHON OIL 2910970 28.71 32 1,367
0.04 TYSON FOODS-A 2909730 57.36 16 1,366
0.04 FACTSET RESEARCH 2329770 411.16 2 1,362
0.04 TEXTRON INC 2885937 85.37 11 1,358
0.04 DOMINO'S PIZZA B01SD70 505.35 2 1,356
0.04 UNITED AIRLINES B4QG225 48.33 19 1,345
0.04 WARNER BROS DISC BM8JYX3 7.10 125 1,329
0.04 HUBBELL INC BDFG6S3 359.14 2 1,321
0.04 WR BERKLEY CORP 2093644 79.02 11 1,318
0.04 CORPAY INC BMX5GK7 266.26 3 1,318
0.04 TELEDYNE TECH 2503477 382.91 2 1,308
0.04 HOLOGIC INC 2433530 74.10 12 1,303
0.04 MOLINA HEALTHCAR 2212706 292.16 3 1,291
0.04 MID-AMERICA APAR 2589132 141.18 6 1,289
0.04 ALIGN TECHNOLOGY 2679204 238.64 4 1,270
0.04 QUEST DIAGNOSTIC 2702791 137.09 6 1,269
0.04 CARNIVAL CORP 2523044 17.71 47 1,249
0.04 BEST BUY CO INC 2094670 82.29 10 1,243
0.04 MCCORMICK-N/V 2550161 69.95 12 1,237
0.04 ATMOS ENERGY 2315359 115.98 7 1,232
0.04 BAXTER INTL INC 2085102 33.06 25 1,231
0.04 ALEXANDRIA REAL 2009210 115.81 7 1,226
0.04 EQT CORP 2319414 36.69 22 1,215
0.04 COOPER COS INC BQPDXR3 86.39 9 1,210
0.04 IDEX CORP 2456612 195.89 4 1,210
0.03 AVERY DENNISON 2066408 213.36 4 1,208
0.03 INTL PAPER CO 2465254 43.34 18 1,201
0.03 PRINCIPAL FINL 2803014 78.01 10 1,181
0.03 LAS VEGAS SANDS B02T2J7 42.88 18 1,174
0.03 KELLANOVA 2486813 56.72 14 1,166
0.03 CF INDUSTRIES HO B0G4K50 73.38 11 1,164
0.03 VERISIGN INC 2142922 175.71 4 1,161
0.03 EVEREST GROUP LT 2556868 378.62 2 1,154
0.03 AMCOR PLC BJ1F307 9.60 80 1,153
0.03 MASCO CORP 2570200 64.71 12 1,152
0.03 SNAP-ON INC 2818740 256.90 3 1,142
0.03 ESSEX PROPERTY 2316619 272.82 3 1,136
0.03 PACKAGING CORP 2504566 180.06 4 1,121
0.03 ZEBRA TECH CORP 2989356 306.21 2 1,098
0.03 JABIL INC 2471789 108.52 7 1,096
0.03 AKAMAI TECHNOLOG 2507457 89.53 8 1,090
0.03 EXPEDIA GROUP IN B748CK2 122.50 6 1,086
0.03 LIVE NATION ENTE B0T7YX2 94.77 8 1,086
0.03 HUNT (JB) TRANS 2445416 158.68 5 1,079
0.03 HEALTHPEAK PROPE BJBLRK3 19.47 37 1,076
0.03 CELANESE CORP B05MZT4 131.68 5 1,072
0.03 KEYCORP 2490911 14.22 50 1,069
0.03 TRIMBLE INC 2903958 55.69 13 1,061
0.03 BUNGE GLOBAL SA BQ6BPG9 107.32 7 1,060
0.03 REVVITY INC 2305844 103.00 7 1,060
0.03 BUNGE GLOBAL SA BQ6BPG9 107.32 7 1,054
0.03 STANLEY BLACK & B3Q2FJ4 77.75 9 1,053
0.03 ENPHASE ENERGY B65SQW4 97.26 7 1,048
0.03 VIATRIS INC BMWS3X9 10.59 64 1,023
0.03 CARMAX INC 2983563 71.21 9 1,017
0.03 LAMB WESTON BDQZFJ3 82.74 8 998
0.03 UDR INC 2727910 41.04 16 985
0.03 ALLIANT ENERGY 2973821 50.74 13 983
0.03 PENTAIR PLC BLS09M3 74.42 9 976
0.03 WESTROCK CO BYR0914 49.57 13 972
0.03 KIMCO REALTY 2491594 19.27 33 964
0.03 JACK HENRY 2469193 163.49 4 950
0.03 POOL CORP 2781585 307.69 2 949
0.03 NISOURCE INC 2645409 28.70 22 948
0.03 INSULET CORP B1XGNW4 196.16 3 946
0.03 GEN DIGITAL INC BJN4XN5 24.89 25 938
0.03 ROLLINS INC 2747305 48.32 13 936
0.03 LOEWS CORP 2523022 74.73 8 932
0.03 CONAGRA BRANDS I 2215460 28.30 22 931
0.03 QORVO INC BR9YYP4 117.81 5 924
0.03 JM SMUCKER CO 2951452 110.51 6 921
0.03 INCYTE CORP 2471950 60.87 10 920
0.03 JUNIPER NETWORKS 2431846 36.75 17 920
0.03 LKQ CORP 2971029 41.50 15 907
0.03 ALBEMARLE CORP 2046853 97.41 6 904
0.03 EASTMAN CHEMICAL 2298386 95.17 6 904
0.03 AES CORP 2002479 17.44 34 892
0.03 EPAM SYSTEMS INC B44Z3T8 185.58 3 880
0.03 CHARLES RIVER LA 2604336 203.24 3 871
0.03 BIO-TECHNE CORP BSHZ3Q0 71.61 8 867
0.02 UNIVERSAL HLTH-B 2923785 182.20 3 861
0.02 HOST HOTELS & RE 2567503 17.63 32 849
0.02 NORDSON CORP 2641838 227.68 2 845
0.02 ALLEGION PLC BFRT3W7 115.74 5 826
0.02 EVERGY INC BFMXGR0 52.71 10 822
0.02 TELEFLEX INC 2881407 211.44 3 818
0.02 MGM RESORTS INTE 2547419 42.86 13 810
0.02 NEWS CORP-CL A BBGVT40 27.29 20 802
0.02 BATH & BODY WORK BNNTGJ5 38.44 14 794
0.02 SMITH (A.O.)CORP 2816023 80.18 7 789
0.02 BXP INC 2019479 60.69 9 784
0.02 CATALENT INC BP96PQ4 56.16 9 783
0.02 F5 INC 2427599 171.18 3 776
0.02 CAMDEN PROP TR 2166320 109.19 5 767
0.02 MOSAIC CO/THE B3NPHP6 27.96 18 751
0.02 MOLSON COORS-B B067BM3 50.60 10 751
0.02 APA CORP BNNF1C1 29.63 17 743
0.02 MATCH GROUP INC BK80XH9 29.34 17 743
0.02 HUNTINGTON INGAL B40SSC9 246.79 2 742
0.02 CAESARS ENTERTAI BMWWGB0 37.75 13 728
0.02 HORMEL FOODS CRP 2437264 30.43 16 716
0.02 INTERPUBLIC GRP 2466321 28.08 17 711
0.02 BROWN-FORMAN -B 2146838 42.11 11 689
0.02 TAPESTRY INC BF09HX3 41.99 11 687
0.02 REGENCY CENTERS 2726177 61.86 7 675
0.02 CH ROBINSON 2116228 86.81 5 674
0.02 WALGREENS BOOTS BTN1Y44 11.58 39 673
0.02 WYNN RESORTS LTD 2963811 87.67 5 658
0.02 HASBRO INC 2414580 57.52 8 654
0.02 PAYCOM SOFTWARE BL95MY0 142.30 3 652
0.02 MARKETAXESS B03Q9D0 193.39 2 634
0.02 DAVITA INC 2898087 138.61 3 629
0.02 HENRY SCHEIN INC 2416962 65.11 6 626
0.02 INVESCO LTD B28XP76 14.85 28 624
0.02 PINNACLE WEST 2048804 75.72 5 613
0.02 ASSURANT INC 2331430 166.89 2 613
0.02 DAYFORCE INC BFX1V56 50.33 8 611
0.02 NORWEGIAN CRUISE B9CGTC3 17.68 23 610
0.02 GLOBE LIFE INC BK6YKG1 82.83 5 577
0.02 CAMPBELL SOUP CO 2162845 45.27 8 576
0.02 FMC CORP 2328603 56.61 7 571
0.02 AMERICAN AIRLINE BCV7KT2 11.04 34 563
0.02 SOLVENTUM BMTQB43 51.45 7 553
0.02 ETSY INC BWTN5N1 57.01 6 550
0.02 RALPH LAUREN COR B4V9661 172.07 2 536
0.02 BORGWARNER INC 2111955 31.49 11 527
0.02 FED REALTY INVS BN7P9B2 100.42 3 519
0.01 PARAMOUNT GLOB-B BKTNTR9 10.14 34 515
0.01 FOX CORP - A BJJMGL2 34.12 10 502
0.01 BIO-RAD LABS-A 2098508 263.97 1 497
0.01 MOHAWK INDS 2598699 109.90 3 490
0.01 FRANKLIN RES INC 2350684 22.13 13 446
0.01 GENERAC HOLDINGS B6197Q2 133.16 2 437
0.01 NEWS CORP-CL B BBGVT51 28.15 10 403
0.01 FOX CORP - B BJJMGY5 31.80 6 292
SPX 7 C5475 54.05 -4 -34,389
Holdings are subject to change.

Sector Breakdown As of 2 Jul 2024

Sector Weight (%)
Information Technology 33.1
Financials 12.4
Health Care 11.9
Consumer Discretionary 10.1
Communication Services 9.4
Industrials 8.1
Consumer Staples 6.0
Energy 3.7
Real Estate 2.2
Materials 2.1
Utilities 2.1

Country Breakdown As of 2 Jul 2024

Country Weight (%)
United States 99.5
Ireland 0.9
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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