ProShares - S&P 500 High Income ETF
$48.15−0.31 (−0.64%)
- Expense ratio
- 0.56%
- Fund size
- $1.2B
- 1Y return
- +13.4%
- Yield · Last 12 months
- 5.16%
- Holdings
- 514
- Volume · 30D
- 0.1M sh
- NAV per share
- $48.46
- 52W range
The ETF.net ISPY Grade
Score 63 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.BScore 55Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 94Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.DScore 28Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.AScore 72Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.CScore 54Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 72Category rank
Our read on ISPY
BMost covered-call funds write one option a month. ISPY writes them daily, slicing S&P 500 premium into small pieces while still aiming for long-term returns in line with the index itself.
The Fund seeks high income potential through a daily-options covered-call strategy and seeks long-term returns consistent with the S&P 500 Index.
Why people hold it
- The daily-options twist: premium is harvested in small, frequent slices rather than one monthly bet, and the fund also targets long-run returns consistent with the S&P 500.proshares.com
- Income is a stated policy, not a byproduct: ProShares pays monthly and declares a minimum annual distribution target of 6%.proshares.com
- At 0.56%, the expense ratio runs below the median for S&P 500 option-income funds, a corner of the market where fees often climb past 1%.
- A multi-billion-dollar fund holding roughly 500 stocks, and it does what the label says: the equity sleeve stays close to the index it references.
Worth knowing
- Cheaper shelf-mates exist. IVVW charges 0.25%, PBP 0.29%, GPIX and BALI 0.35%, all writing calls on the same large-cap universe.
- Selling calls every day trims what you keep in a fast rally, while the full drawdown of holding the S&P 500 still rides along underneath.
- ProShares discloses that distributions may include return of capital, meaning part of a payout can be your own principal handed back.proshares.com
ISPY Holdings
- Stocks
- 514
- 46%
- IQMM
Sectors
- Technology33.7%
- Financials23.8%
- Communication8.6%
- Health Care8.0%
- Consumer Discr.7.6%
- Industrials6.4%
- Cons. Staples3.9%
- Energy3.1%
- Utilities1.7%
- Materials1.6%
- Real Estate1.5%
Geography
- United States98.24%
- Ireland0.99%
- United Kingdom0.36%
- Switzerland0.26%
- Netherlands0.07%
- Bermuda0.06%
- Canada0.01%
ISPY Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 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 | ISPY |
|---|---|
| Year to date | +10.8% |
| 1 month | +0.5% |
| 3 months | +2.5% |
| 1 year | +13.4% |
| 3 years | — |
| 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 | ISPY |
|---|---|---|
| 2026 YTD | +10.8% | |
| 2025 | +13.1% | |
| 2024 | +21.3% | |
| 2023 | +1.7% |
ISPY in the news
ETF.net Research hasn’t filed on ISPY yet — coverage lands here as it’s written.
ISPY Dividends
- 5.16%
- $2.50
- $0.23 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 1, 2026 | Sep 8, 2026 | $0.23 |
| Aug 3, 2026 | Aug 7, 2026 | $0.24 |
| Jul 1, 2026 | Jul 8, 2026 | $0.25 |
| Jun 1, 2026 | Jun 5, 2026 | $0.23 |
| May 1, 2026 | May 7, 2026 | $0.30 |
| Apr 1, 2026 | Apr 8, 2026 | $0.30 |
| Mar 2, 2026 | Mar 6, 2026 | $0.21 |
| Feb 2, 2026 | Feb 6, 2026 | $0.23 |
| Dec 24, 2025 | Dec 31, 2025 | $0.12 |
| Dec 1, 2025 | Dec 5, 2025 | $0.20 |
| Nov 3, 2025 | Nov 7, 2025 | $0.07 |
| Oct 1, 2025 | Oct 7, 2025 | $0.10 |
ISPY Risk
- 11.1%
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.
- 1.08
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.
- −16.9%
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.
- 0.86
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
ISPY Cost
- The middle half of S&P 500 Option Income funds
- Median 0.60%
21 of the 51 S&P 500 Option Income funds charge less.