Category Review
The largest option-income fund beat the S&P 500 by selling calls on a quarter of its assets
Main BuyWrite ETF
The ETF.net BUYW Grade
C
Score 56 out of 100
- 19 of 51
Score 56 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25. The letter stays C for now. A new letter must hold for 3 published runs before it replaces it.
Cost
The fund’s net expense ratio, ranked against its category.C45 out of 100Rank 28 of 51Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.A84 out of 100Rank 3 of 48Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B65 out of 100Rank 14 of 51Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.F21 out of 100Rank 43 of 43Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A89 out of 100Rank 5 of 51
Our read on BUYW
In short
CA global covered-call fund built from ETFs rather than single stocks. The manager can write calls on anywhere from none to all of the portfolio, so the income dial moves with their read on the market.
Stated mandate
The Fund seeks total return through current income and long-term capital appreciation.
Why people hold it
Worth knowing
BUYW Holdings
- Stocks
- 11
- 114%
- SPYM
Sectors
- Technology27.8%
- Financials14.8%
- Health Care13.9%
- Energy12.7%
- Utilities9.4%
- Communication6.6%
- Consumer Discretionary5.6%
- Industrials4.5%
- Consumer Staples2.9%
- Materials0.9%
- Real Estate0.9%
Geography
- United States99.32%
- Switzerland0.28%
- Canada0.11%
- Netherlands0.09%
- China0.07%
- United Kingdom0.04%
- Brazil0.04%
- Mexico0.03%
- 0.02%
BUYW Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.
BUYW$10,889
Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | BUYW |
|---|---|
| Year to date | +6.6% |
| 1 month | +0.8% |
| 3 months | +1.7% |
| 1 year | +8.9% |
| 3 years | +9.5% |
| 5 years | |
| 10 years |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | BUYW |
|---|---|---|
| 2026 YTD | +6.6% | |
| 2025 | +9.1% | |
| 2024 | +9.8% | |
| 2023 | +12.8% | |
| 2022 | +1.5% |
BUYW in the news
BUYW Dividends
- 5.94%
- $0.86
- $0.07 per share
- Monthly
BUYW Risk
- 3.1%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 1.54
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −9.4%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.21
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FMP measures it over up to five years of monthly returns.
BUYW Cost
Overpaying vs RECI, cheapest in Active Option Income
$12,049
On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.
BUYW 0.97%
$18,198
RECI 0.30% Cheapest
$6,149
Cost over time
Year by year
| Year | BUYW | RECI | Overpaying |
|---|---|---|---|
| 10 | $1,712 | $545 | $1,167 |
| 20 | $6,443 | $2,113 | $4,330 |
| 30 | $18,198 | $6,149 | $12,049 |
You pay 0.97%Waived by Main Management 0.16%
Full fee 1.13% waiver 0.16% you pay 0.97%
Other funds in Active Option Income
- BHBTAHorizon Expedition Plus ETFExpense ratio 0.86%1 year return +5.5%
- BOVBOverlay Shares Core Bond ETFExpense ratio 0.79%1 year return +1.5%
- CGINXSGI Enhanced Global Income ETFExpense ratio 1.02%1 year return +23.9%
- CWRTHWorth Charting Options Income ETFExpense ratio 1.02%1 year return
- CDDDDYieldMax U.S. Stocks Target Double Distribution ETFExpense ratio 1.01%1 year return
