BALI vs FYEE: Grades, Fees and Holdings Compared

iShares U.S. Large Cap Premium Income Active ETF

BALIACboe

Fidelity Yield Enhanced Equity ETF

FYEEACboe

Overlap

58.3%by weight

Expense ratio

FYEE −0.07pt a year

BALI0.35%FYEE0.28%

Avg volume · 30D

BALI 3.2×the volume

BALI373KFYEE118K

BALI vs FYEE Performance

Nov 7, 2025 – Nov 9, 2026

+15.8%BALI+13.8%FYEE

Expense ratio: BALI 0.35%; FYEE 0.28%, better
Fund size: BALI $1.5B; FYEE $320M
1Y total return: BALI +15.8%, better; FYEE +13.8%
Yield (12M): BALI 7.94%; FYEE 9.30%, better
Holdings: BALI 193; FYEE 183
Avg volume (30D): BALI 373K sh, better; FYEE 118K sh
NAV per share: BALI $32.85; FYEE $29.36
52W range

ETF.net Grade

Pillar letters and Scores for BALI, FYEE, with each pillar’s weight
Pillar	BALI	FYEE
Cost30% weight	A79	A89Higher
Mission25% weight	A100	A100
Risk15% weight	B60Higher	D38
Tradability15% weight	A84Higher	C54
Holdings10% weight	A83Higher	B60
Durability5% weight	A85Higher	B57

Rank among S&P 500 Option Income funds

How we build Categories ›

Same Category. BALI and FYEE are both graded against the same 51 S&P 500 Option Income funds, so their Grades compare head to head.

S&P 500 Option Income⁠

Category · 51 funds

See all 51 ›

BALI ranks 1st and FYEE 7th of 51 funds in the S&P 500 Option Income Category.

Rank 1ABALIiShares U.S. Large Cap Premium Income Active ETFScore 82
Rank 1ACSHINeos Enhanced Income Cash Alternative ETFScore 82
Rank 6ATPUTT. Rowe Price Capital Appreciation Market Opportunities ETFScore 75
Rank 7AFYEEFidelity Yield Enhanced Equity ETFScore 74
Rank 7AGQINatixis Gateway Quality Income ETFScore 74

Our read on each fund

ETF.net Research

BALIAiShares U.S. Large Cap Premium Income Active ETF

FYEEAFidelity Yield Enhanced Equity ETF

In short

BALI BlackRock's active answer to the covered-call crowd: roughly 200 hand-picked U.S. large caps, calls written on the S&P 500 itself rather than single stocks, monthly payouts, at well under the typical fee in its peer group.

FYEE Fidelity's entry in the S&P 500 covered-call scrum: own the large-cap equity book, sell calls against it for income, and charge roughly half the fee of the typical fund in this crowd.

Stated mandate

BALI BALI seeks consistent income with lower volatility than the broader U.S. equity market. It primarily holds U.S. large-cap equities, sells calls on a large-cap equity index, and uses related index futures to pursue premium income and capital appreciation.

FYEE The fund seeks equity-market exposure and capital appreciation while using a disciplined covered-call program to generate income.

Why people hold it

BALI 0.35% a year against a 0.60% median for S&P 500 option-income funds, and below what XYLD (0.60%) or SPYI (0.68%) charge for similar work.
Actively run, not a mechanical buy-write: about 200 large caps picked by the manager, index calls sold on top, index futures used alongside.ishares.com
Pays monthly, and the mandate chases capital appreciation as well as premium, so the stock sleeve is not just collateral for the options.
Does what its documents say it does, and stands among the stronger implementations in the S&P 500 option-income group.

FYEE Fee of 0.31% against a cohort median of 0.60% for S&P 500 options-income funds. In a strategy where premium income is the whole point, less leakage to costs matters.
The mandate is equity first: capital appreciation and market exposure, with a disciplined covered-call program layered on for income rather than income chased at any cost.fidelity.com
Does exactly what its documents say it does, and sits in the top quartile of a crowded S&P 500 income group on our review.
Cheaper than the marquee names it competes with, including GPIX (0.35%), BALI (0.35%) and SPYI (0.68%).

Worth knowing

BALI Selling index calls swaps part of a big rally for premium. The design targets lower volatility than the broad market, not maximum upside.
Distributions can include return of capital, meaning part of a payout may be your own money coming back rather than fund earnings.ishares.com
Launched in 2023, so the track record is short, and it trades at moderate volume rather than with the tightest spreads in the category.

FYEE Covered calls swap upside for premium. When the S&P 500 runs hard, the calls written against the portfolio limit how much of that climb the fund keeps.fidelity.com
Income lands quarterly, not monthly, so the cash arrives in four larger drops rather than a steady drip.
Launched in 2024 and moderately traded, so the track record is short and spreads can run wider than the category's largest funds.

Full BALI profile⁠

Full FYEE profile⁠

BALI vs FYEE Holdings

How BALI and FYEE differ

Overlap by weight

58.3%

Shared holdings make up 67.0% of FYEE and 65.5% of BALI.

About this figure: BALI earns income from options, which aren’t counted.

FYEE earns income from options, which aren’t counted.

Level by level

Holdings66 in both58.3%
Sector11 Sectors88.0%
Countryby domicile99.5%
Asset classStocks100%

Sector

Sector weights in BALI and FYEE, widest gap first
Sector	Gap	BALI	FYEE
Technology	FYEE +6.7 points	33.8%	40.5%
Consumer Staples	BALI +3.6 points	6.9%	3.3%
Health Care	BALI +2.4 points	12.0%	9.6%
Utilities	BALI +2.0 points	2.8%	0.8%
Energy	BALI +2.0 points	4.9%	2.9%
Consumer Discretionary	BALI +1.9 points	9.3%	7.4%
Industrials	FYEE +1.7 points	8.2%	9.9%
Real Estate	FYEE +1.3 points	0.8%	2.1%
Financials	FYEE +1.1 points	11.2%	12.3%
Communication	FYEE +0.9 points	8.5%	9.4%
Materials	FYEE +0.2 points	1.6%	1.8%

Country, concentration and asset class

Country by domicile

Country weights in BALI and FYEE, widest gap first
Country	More in BALIMore in FYEE	Gap	BALI	FYEE
United States		FYEE +0.5 points	99.4%	99.9%
Other countries (3)		BALI +0.5 points	0.6%	0.1%

Concentration

Weight in the 10 largest Holdings

BALI35.4%
FYEE39.2%

Securities held

BALI190
FYEE180

Asset class

BALI: Stocks
FYEE: Stocks

Holdings

Only in BALI124
In both66
Only in FYEE114

Only in BALI

124 securities, 31.1% of BALI by weight

Pfizer1.29%
United Parcel Service Inc Class B1.29%
Tjx1.24%
Verizon Communications Inc0.99%
Lockheed Martin0.92%
Wec Energy Group0.91%
Cardinal Health0.84%
3M0.68%
Lam Research0.65%
Vulcan Materials0.63%
Phillips 660.62%
Nextera Energy0.59%
Amgen Inc0.58%
Medtronic PLC0.58%
Oreilly Automotive Inc0.56%
Citizens Financial Group Inc0.55%
Mckesson Corp0.55%
Booking Holdings0.53%
American Financial Group0.52%
Valero Energy Corp0.52%
International Business Machines Co0.50%
Verisign0.45%
Us Bancorp0.45%
Mondelez International Class A0.41%
Lowes Companies Inc0.40%
Archer Daniels Midland0.40%
Paychex0.37%
Intercontinental Exchange Inc0.37%
Duke Energy Corp0.37%
Ferrovial NV0.36%
Northrop Grumman Corp0.35%
Target Corp0.34%
Intuit0.33%
Air Products and Chemicals0.33%
Cvs Health0.33%
Blackstone0.33%
Exelon Corp0.31%
Texas Roadhouse Inc0.30%
Agnc Investment Reit0.30%
Palo Alto Networks0.29%
Rockwell Automation Inc0.28%
T Mobile Us Inc0.28%
Dell Technologies Inc Class C0.28%
First Hawaiian0.27%
Transdigm Group0.25%
Tyson Foods Inc Class A0.24%
Honeywell International Inc0.24%
Oracle0.23%
Marvell Technology0.23%
Fastenal0.22%

Only in FYEE

114 securities, 29.6% of FYEE by weight

Mastercard Inc Class A1.30%
Walmart Inc0.95%
Ge Aerospace0.85%
Wells Fargo & Co0.76%
Welltower Inc0.75%
Bristol-Myers Squibb Co0.74%
Rtx Corp0.73%
Uber Technologies Inc0.70%
Progressive Corp Ohio0.69%
Johnson & Johnson0.69%
Altria Group Inc0.65%
Regeneron Pharmaceuticals Inc0.64%
Ecolab Inc0.64%
Morgan Stanley0.62%
Unity Software Inc0.59%
Trane Technologies PLC0.56%
Block Inc Class A0.55%
Bank of New York Mellon Corp0.55%
Ford Motor Co0.51%
Veralto Corp0.50%
Nxp Semiconductors NV0.49%
Allstate Corporation0.47%
Sempra0.46%
Crh Plc(Us)0.45%
AT&T Inc0.43%
Fiserv Inc0.43%
Nucor Corp0.42%
General Motors Co0.42%
Ross Stores Inc0.41%
Parker Hannifin Corp0.40%
Howmet Aerospace Inc0.39%
Arista Networks Inc0.38%
Johnson Controls Internatl PLC0.38%
Hartford Insurance Grp Inc/The0.37%
Conocophillips0.36%
Comcast Corp Class A0.36%
Netapp Inc0.35%
Elevance Health Inc0.34%
Veeva Sys Inc Class A0.33%
Kkr & Co Inc0.33%
Gaming and Leisure Proprti Inc0.31%
American Tower Corp0.30%
Lyft Inc0.29%
Fedex Corp0.29%
SS&C Technologies Holdings Inc0.27%
Coca Cola Co0.26%
Occidental Petroleum Corp0.26%
Chipotle Mexican Grill Inc0.25%
Eaton Corp PLC0.23%
Wesco International Inc0.21%

Weight gaps

All 66 Holdings in both funds, largest gap first.

Holding weights in BALI and FYEE, widest gap first
Holding	Gap	BALI	FYEE
AppleAAPL	FYEE +1.13 points	6.55%	7.68%
Costco Wholesale CorpCOST	BALI +0.99 points	1.89%	0.90%
Procter & GamblePG	BALI +0.98 points	1.74%	0.76%
ChevronCVX	BALI +0.89 points	1.75%	0.87%
Eli LillyLLY	FYEE +0.78 points	1.36%	2.14%
Meta Platforms Class AMETA	FYEE +0.72 points	1.65%	2.37%
Alphabet Class CGOOG	BALI +0.67 points	2.04%	1.37%
JPMorgan Chase & CoJPM	FYEE +0.65 points	1.21%	1.86%
Abbott LaboratoriesABT	BALI +0.53 points	1.02%	0.49%
Amazon.com IncAMZN	FYEE +0.52 points	3.54%	4.06%
Exxonmobil Holdings CorpXOM	BALI +0.51 points	1.85%	1.34%
Advanced Micro DevicesAMD	BALI +0.41 points	1.14%	0.73%
Visa Class AV	BALI +0.38 points	1.72%	1.34%
Alphabet Class AGOOGL	FYEE +0.37 points	2.18%	2.55%
NVIDIANVDA	FYEE +0.36 points	6.45%	6.81%
Broadcom IncAVGO	FYEE +0.34 points	1.93%	2.27%
Ge VernovaGEV	FYEE +0.34 points	0.36%	0.70%
Micron TechnologyMU	FYEE +0.32 points	1.07%	1.39%
Tesla IncTSLA	FYEE +0.32 points	0.73%	1.05%
Ametek IncAME	BALI +0.28 points	0.67%	0.39%
Amphenol Corp Class AAPH	FYEE +0.27 points	0.46%	0.73%
Ppl CorpPPL	BALI +0.24 points	0.46%	0.22%
QualcommQCOM	FYEE +0.22 points	0.28%	0.50%
DocusignDOCU	FYEE +0.21 points	0.02%	0.23%
PepsicoPEP	BALI +0.21 points	0.72%	0.51%
Berkshire Hathaway Inc Class BBRK.B	FYEE +0.19 points	1.98%	2.17%
Neurocrine BiosciencesNBIX	BALI +0.18 points	0.19%	<0.01%
Applied Material IncAMAT	BALI +0.18 points	0.73%	0.55%
Charles SchwabSCHW	FYEE +0.18 points	0.53%	0.71%
AbbVieABBV	FYEE +0.17 points	0.83%	1.00%
FortinetFTNT	FYEE +0.15 points	0.30%	0.45%
Crowdstrike Holdings Class ACRWD	FYEE +0.14 points	0.34%	0.48%
Cme Group Class ACME	FYEE +0.14 points	0.27%	0.41%
Adobe IncADBE	FYEE +0.11 points	0.43%	0.54%
Comfort Systems UsaFIX	BALI +0.10 points	0.29%	0.19%
Bank of AmericaBAC	FYEE +0.10 points	0.77%	0.87%
SyscoSYY	FYEE +0.10 points	0.14%	0.24%
Intel CorporationINTC	FYEE +0.10 points	0.41%	0.51%
UnitedHealth GroupUNH	BALI +0.09 points	1.07%	0.98%
Western Digital CorpWDC	FYEE +0.10 points	0.27%	0.37%
Boston ScientificBSX	FYEE +0.09 points	0.24%	0.33%
Cisco Systems IncCSCO	FYEE +0.09 points	0.89%	0.98%
SandiskSNDK	FYEE +0.09 points	0.18%	0.27%
Airbnb Class AABNB	BALI +0.08 points	0.77%	0.69%
Texas InstrumentTXN	FYEE +0.08 points	0.56%	0.64%
SnowflakeSNOW	FYEE +0.08 points	0.06%	0.14%
Starbucks CorpSBUX	BALI +0.08 points	0.39%	0.31%
Merck & Co IncMRK	BALI +0.06 points	0.98%	0.92%
Seagate Technology Holdings PLCSTX	FYEE +0.07 points	0.22%	0.29%
ElasticESTC	BALI +0.05 points	0.08%	0.03%
General Dynamics CorpGD	BALI +0.05 points	0.50%	0.45%
Caterpillar IncCAT	BALI +0.05 points	0.68%	0.63%
Palantir Technologies Class APLTR	FYEE +0.04 points	0.45%	0.49%
MicrosoftMSFT	BALI +0.03 points	5.71%	5.68%
Nvent Electric PLCNVT	BALI +0.03 points	0.09%	0.06%
Travelers CompaniesTRV	FYEE +0.03 points	0.38%	0.41%
NetflixNFLX	BALI +0.03 points	0.47%	0.44%
Gilead SciencesGILD	BALI +0.02 points	0.88%	0.86%
AmdocsDOX	FYEE +0.02 points	0.16%	0.18%
Datadog Inc Class ADDOG	BALI +0.01 points	0.15%	0.14%
Mongodb Class AMDB	FYEE +0.02 points	0.04%	0.06%
Guardant HealthGH	BALI +0.02 points	0.03%	0.01%
Applied Industrial TechnologiesAIT	FYEE +0.01 points	0.13%	0.14%
DowDOW	FYEE +0.01 points	0.08%	0.09%
Hinge Health Class AHNGE	Same weight	0.04%	0.04%
Pinterest Class APINS	Same weight	0.02%	0.02%

All 190 BALI holdings⁠All FYEE holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BALI vs FYEE Cost

Overpaying BALI vs FYEE

$1,371

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

BALI 0.35%
$7,126
FYEE 0.28%
$5,755

Amount$10,000

Years30 years

Cost over time

BALI 0.35%
FYEE 0.28%
Overpaying

Year by year

Year	BALI	FYEE	Overpaying
10	$634	$509	$125
20	$2,454	$1,976	$478
30	$7,126	$5,755	$1,371

Expense ratio

0.35%BALI
0.28%FYEE, cheaper

FYEE0.28%BALI0.35%

0.10%1.18%

Middle half of S&P 500 Option Income funds
Median 0.60%

FYEE 4th cheapest of 51 funds

BALI 11th cheapest of 51 funds

BALI vs FYEE Dividends

Last 12 months to Nov 9, 2026

Yield (12M): BALI 7.94%; FYEE 9.30%, better
Payout (12M): BALI $2.66; FYEE $2.73
Last payment: BALI $0.18; FYEE $0.56
Ex-dividend: BALI Nov 2, 2026; FYEE Sep 18, 2026
Paid on: BALI Nov 5, 2026; FYEE Sep 22, 2026
Frequency: BALI Monthly; FYEE Quarterly

Distribution history

Per share, 2023 to 2026, same scale for both

BALIMonthly · 37 paymentsAll BALI payments⁠

FYEEQuarterly · 10 paymentsAll FYEE payments⁠

BALI vs FYEE Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: BALI 10.2%FYEE 8.4%since May 2024
Return per unit of riskSharpe ratio, 3 years: BALI 1.52FYEE 1.43since May 2024
Worst fallMax drawdown, 5 years: BALI −16.6%since Sep 2023FYEE −18.8%since Apr 2024
Market sensitivityBeta, 5 years: BALI 0.78FYEE 0.81; Market = 1

BALI and FYEE in the news

All news⁠

Income Watch
BlackRock estimates 86% of the iShares Nasdaq Premium Income Active ETF's October check was return of capital
Oct 11, 2026BALI
ETF Filings
Fidelity files for a gold version of its call-writing fund
Sep 28, 2026FYEE

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BALI vs FYEE

In short

Stated mandate

Why people hold it

Worth knowing

How BALI and FYEE differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in BALI

Only in FYEE

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

BlackRock estimates 86% of the iShares Nasdaq Premium Income Active ETF's October check was return of capital

Fidelity files for a gold version of its call-writing fund

How BALI and FYEE differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in BALI

Only in FYEE

Weight gaps