iShares High Yield Corporate Bond BuyWrite Strategy ETF
$28.02−0.06 (−0.21%)
- 0.69%
- $110M
- +4.5%
- 11.11%
- 0M sh
- $28.03
- low $27.86high $30.39
The ETF.net HYGW Grade
B
Score 66 out of 100
- 4 of 24
Score 66 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.B59 out of 100Rank 10 of 24Mission
Whether the fund did what it promised, tested against its stated mandate.A100 out of 100Rank 1 of 4Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B68 out of 100Rank 5 of 24Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B63 out of 100Rank 6 of 24Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A89 out of 100Rank 2 of 16Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A76 out of 100Rank 5 of 24
Our read on HYGW
BCovered calls, but on junk bonds instead of stocks. It holds iShares' high yield corporate bond ETF and writes monthly calls against it, stacking option premium on top of coupon income, paid out monthly.
The fund seeks exposure to the iShares iBoxx $ High Yield Corporate Bond ETF while writing monthly covered calls to generate income.
Why people hold it
- The buy-write playbook pointed at credit, not equities: own the high yield bond ETF, sell monthly calls on it, distribute monthly.ishares.com
- At 0.69% a year, it undercuts the typical fund in its options-income peer group.
- Runs the strategy its own documents describe, closely, and sits among the stronger builds in its options-income group.
- Live since 2022, built and run by iShares on top of its own high yield bond fund rather than a bespoke basket.
Worth knowing
- Selling calls trades upside for income. If high yield bonds rally past the strike, the gain above it belongs to the option buyer.
- The base exposure is below-investment-grade credit, so the principal moves with default fears and spread swings, not rates alone.
- A smaller, thinly traded fund, so spreads can run wider than the household-name covered-call ETFs.
HYGW Holdings
- Bonds
- 1,337
- 4%
- 1261229 Bc Ltd 144A 10.00% 04/15/2032
Geography
- United States100.00%
HYGW 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.
HYGW$10,448
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 | HYGW |
|---|---|
| Year to date | +1.9% |
| 1 month | −0.4% |
| 3 months | −0.6% |
| 1 year | +4.5% |
| 3 years | +5.8% |
| 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 | HYGW |
|---|---|---|
| 2026 YTD | +1.9% | |
| 2025 | +6.2% | |
| 2024 | +7.0% | |
| 2023 | +7.3% | |
| 2022 | −0.1% |
HYGW in the news
Category Review
The largest alternatives fund has no one-year record
HYGW Dividends
- 11.11%
- $3.12
- $0.37 per share
- Monthly
Distribution history
HYGW Risk
- 2.6%
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.
- 0.28
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.
- −5.5%
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.
- 0.30
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
HYGW Cost
0.69%
HYGW0.69%
- The middle half of Other Index Option Income funds
- Median 0.73%
9 of the 24 Other Index Option Income funds charge less.
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