First Trust BuyWrite Income ETF
$23.96−0.04 (−0.17%)
- 0.75%
- $2.6B
- +12.5%
- 8.81%
- 0.7M sh
- $23.98
- low $22.37high $24.39
The ETF.net FTHI Grade
B
Score 63 out of 100
- 20 of 52
Score 63 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.
Cost
The fund’s net expense ratio, ranked against its category.D37 out of 100Rank 33 of 52Mission
Whether the fund did what it promised, tested against its stated mandate.A82 out of 100Rank 24 of 35Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C49 out of 100Rank 25 of 52Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A76 out of 100Rank 5 of 52Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A84 out of 100Rank 4 of 41Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A95 out of 100Rank 1 of 52
Our read on FTHI
BOne of the original covered call income ETFs (2014): an actively picked US stock portfolio with S&P 500 calls sold over the top on 25% to 75% of the fund, so part of the upside stays unsold. Pays monthly.
The Fund seeks current income and, secondarily, capital appreciation. It invests in U.S.-listed equities across market capitalizations and writes covered call options on the S&P 500 Index to generate additional cash flow.
Why people hold it
- The overlay is a dial, not a switch. The prospectus sets call notional generally between 25% and 75% of the fund, so managers can sell less premium and leave more equity upside open.sec.gov
- Underneath the options sits a real stock portfolio, roughly 190 US-listed names across market caps chosen by the manager, not a copy of the index it writes calls on.ftportfolios.com
- Calls are laddered across expirations under one year, struck at-the-money to slightly out-of-the-money, and premiums feed a monthly distribution.sec.gov
- Live since January 2014, well before the derivative income boom, and now a multi-billion-dollar fund that trades actively. One of the stronger builds in a crowded S&P 500 income group.
Worth knowing
- At 0.75% a year it sits above the 0.60% typical for its peer group, and index-rules rivals like IVVW (0.25%) and GPIX (0.35%) charge far less for S&P 500 call income.
- The calls are on the S&P 500 while the stock sleeve is its own selection, so the two can drift apart. The prospectus notes those index calls are technically uncovered.sec.gov
- Selling calls trades away part of a rally for cash today, and the filings flag active trading that can push portfolio turnover past 100% a year.sec.gov
FTHI Holdings
- Stocks
- 188
- 38%
- AAPL
Sectors
- Technology36.6%
- Financials12.0%
- Industrials8.8%
- Health Care8.5%
- Consumer Staples8.0%
- Consumer Discretionary6.8%
- Communication6.8%
- Energy5.0%
- Real Estate3.3%
- Materials2.6%
- Utilities1.7%
Geography
- United States88.45%
- Netherlands3.51%
- United Kingdom3.02%
- Canada1.28%
- Switzerland1.12%
- Brazil0.41%
- Taiwan0.31%
- Bermuda0.29%
- 1.61%
FTHI Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
FTHI$11,246
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 | FTHI |
|---|---|
| Year to date | +8.6% |
| 1 month | +1.1% |
| 3 months | +2.6% |
| 1 year | +12.5% |
| 3 years | +15.0% |
| 5 years | +11.1% |
| 10 years | +8.5% |
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 | FTHI |
|---|---|---|
| 2026 YTD | +8.6% | |
| 2025 | +11.0% | |
| 2024 | +19.0% | |
| 2023 | +20.7% | |
| 2022 | −4.4% | |
| 2021 | +13.9% | |
| 2020 | −7.2% |
FTHI in the news
FTHI Dividends
- 8.81%
- $2.11
- $0.18 per share
- Monthly
Distribution history
FTHI Risk
- 7.5%
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.
- 1.28
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.
- −16.7%
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.
- 0.56
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FTHI Cost
0.75%
FTHI0.75%
- The middle half of S&P 500 Option Income funds
- Median 0.60%
31 of the 51 S&P 500 Option Income funds charge less.
Other funds in S&P 500 Option Income
- BXPAYRoundhill Investments - S&P 500 Target 20 Managed Distribution ETFExpense ratio 0.49%1 year return +19.5%
- BISPYProShares - S&P 500 High Income ETFExpense ratio 0.56%1 year return +16.4%
- BPEPSParametric Equity Plus ETFExpense ratio 0.10%1 year return +22.1%
- BSPYHNEOS S&P 500 Hedged Equity Income ETFExpense ratio 0.68%1 year return +14.3%
- BSPUCSimplify US Equity Income ETFExpense ratio 0.53%1 year return +17.1%