Category Review
The payout and the result came apart in option-income funds
Main BuyWrite ETF
$14.57+0.01 (+0.07%)
- 0.99%
- $1.4B
- +9.0%
- 5.92%
- 0.4M sh
- $14.54
- low $13.84high $14.66
The ETF.net BUYW Grade
C
Score 54 out of 100
- 20 of 51
Score 54 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.C40 out of 100Rank 29 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.A83 out of 100Rank 2 of 46Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B63 out of 100Rank 15 of 51Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.D25 out of 100Rank 42 of 42Durability
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
CA hands-on buy-write with a global passport: the manager assembles the stock sleeve across the US, developed international and emerging markets, sells calls against it, and pays out monthly. Active pricing for an active approach.
The Fund seeks total return through current income and long-term capital appreciation.
Why people hold it
- Active, not formulaic: the equity sleeve reaches across US, developed international and emerging markets, with calls written on top rather than by an index rulebook.
- Cash lands monthly, and the stated goal pairs that current income with long-term capital appreciation rather than income alone.
- Launched in 2022 and now a multi-billion-dollar, moderately traded fund, so it has real staying power behind it, not launch-week scale.
Worth knowing
- The 1.13% expense ratio sits above the typical covered-call fund, and several of the strongest-rated peers in the group (PAPI, DIVO) charge a fraction of it.
- Writing calls swaps part of a big rally for premium income. That ceiling is the mechanical cost of the monthly cash.
- No declared index to check the fund against, so outcomes ride on the manager's calls (which stocks, which strikes) rather than a published formula.
BUYW Holdings
- Stocks
- 11
- 117%
- 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 States100.00%
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$10,904
Returns run to the Oct 12, 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 | +6.4% |
| 1 month | +0.3% |
| 3 months | +1.7% |
| 1 year | +9.0% |
| 3 years | +9.4% |
| 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 | +6.4% | |
| 2025 | +9.1% | |
| 2024 | +9.8% | |
| 2023 | +12.8% | |
| 2022 | +1.5% |
BUYW in the news
BUYW Dividends
- 5.92%
- $0.86
- $0.07 per share
- Monthly
Distribution history
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.
- 1.42
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.
BUYW Cost
0.99%
BUYW0.99%
- The middle half of Active Option Income funds
- Median 0.95%
28 of the 51 Active Option Income funds charge less.
Other funds in Active Option Income
- BOVBOverlay Shares Core Bond ETFExpense ratio 0.79%1 year return +1.3%
- BHBTAHorizon Expedition Plus ETFExpense ratio 0.85%1 year return +22.4%
- CCVRDMadison Covered Call ETFExpense ratio 0.92%1 year return +7.7%
- CQUSAVistaShares Target 15 USA Quality Income ETFExpense ratio 0.95%1 year return +7.2%
- COEIOptimized Equity Income ETFExpense ratio 1.02%1 year return —