BALI vs IVVW: Grades, Fees and Holdings Compared

iShares U.S. Large Cap Premium Income Active ETF

BALIACboe

iShares S&P 500 BuyWrite ETF

IVVWACboe

Overlap

60.1%by weight

Expense ratio

IVVW −0.10pt a year

BALI0.35%IVVW0.25%

Avg volume · 30D

BALI 8.1×the volume

BALI337KIVVW41.5K

BALI vs IVVW Performance

Oct 31, 2025 – Oct 30, 2026

+15.6%BALI+13.4%IVVW

Expense ratio: BALI 0.35%; IVVW 0.25%, better
Fund size: BALI $1.54B; IVVW $348M
1Y total return: BALI +15.6%, better; IVVW +13.4%
Yield (12M): BALI 7.84%; IVVW 18.55%, better
Holdings: BALI 193; IVVW 506
Avg volume (30D): BALI 337K sh, better; IVVW 41.5K sh
NAV per share: BALI $34.08; IVVW $44.40
52W range

ETF.net Grade

Pillar letters and Scores for BALI, IVVW, with each pillar’s weight
Pillar	BALI	IVVW
Cost30% weight	A77	A96Higher
Mission25% weight	A100	A100
Risk15% weight	B56Higher	C53
Tradability15% weight	A83Higher	C53
Holdings10% weight	A83Higher	A75
Durability5% weight	A85Higher	A72

Rank among S&P 500 Option Income funds

How we build Categories ›

Same Category. BALI and IVVW 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 2nd and IVVW 3rd of 51 funds in the S&P 500 Option Income Category.

Rank 1ACSHINeos Enhanced Income Cash Alternative ETFScore 83
Rank 2ABALIiShares U.S. Large Cap Premium Income Active ETFScore 81
Rank 3AIVVWiShares S&P 500 BuyWrite ETFScore 80
Rank 4AGPIXGoldman Sachs S&P 500 Premium Income ETFScore 78

Our read on each fund

ETF.net Research

BALIAiShares U.S. Large Cap Premium Income Active ETF

IVVWAiShares S&P 500 BuyWrite 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.

IVVW BlackRock's version of the covered call: hold the whole S&P 500 through the iShares Core fund, sell one-month index calls struck 1% out of the money, pay the premium out monthly. All for a quarter-point fee.

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.

IVVW The fund seeks to track an index strategy that holds the iShares Core S&P 500 ETF and sells one-month call options primarily on the S&P 500 Index to generate income. The short option position is intended to be offset by the fund’s long position in the underlying ETF.

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.

IVVW Costs 0.25% a year against a category median near 0.60%. On an income strategy, that is less of the option premium quietly leaking out the door.
The calls sit 1% out of the money, so a slice of each month's rally still belongs to shareholders before the cap bites. At-the-money writers give that up.cboe.com
Rules over hunches: it tracks a Cboe index that pairs a long position in the iShares Core S&P 500 ETF with a short monthly S&P 500 call, rolled on a set schedule.cboe.com
Inside a crowded covered-call field where fat fees are the norm, this is one of the tighter builds in its peer group.

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.

IVVW Covered calls trade upside for income. Above the strike, the month's gain is capped, and the premium cushions losses rather than blocking them.cboe.com
Monthly payouts come from option premium, so they move with volatility instead of arriving as a fixed amount.
Launched in 2024 and moderately traded, so the live record is short and spreads can run wider than the category's biggest names.

Full BALI profile⁠

Full IVVW profile⁠

BALI vs IVVW Holdings

How BALI and IVVW differ

Overlap by weight

60.1%

Shared holdings make up 93.2% of BALI and 66.7% of IVVW.

Level by level

Holdings118 in both60.1%
Sector11 Sectors94.7%
Countryby domicile99.4%
Asset classEquity100%

Sector

Sector weights in BALI and IVVW, widest gap first
Sector	More in BALIMore in IVVW	BALI	IVVW
Technology	IVVW +1.5 points	37.0%	38.5%
Health Care	BALI +1.5 points	11.3%	9.8%
Consumer Staples	BALI +1.5 points	6.3%	4.8%
Energy	BALI +1.5 points	5.2%	3.7%
Financials	IVVW +1.3 points	10.5%	11.8%
Real Estate	IVVW +1.0 points	0.7%	1.7%
Communication	IVVW +0.9 points	8.0%	8.9%
Utilities	BALI +0.6 points	2.6%	2.0%
Consumer Discretionary	IVVW +0.3 points	8.7%	9.0%
Industrials	BALI +0.3 points	8.3%	8.0%
Materials	IVVW +0.2 points	1.5%	1.7%

Country, concentration and asset class

Country by domicile

Country weights in BALI and IVVW, widest gap first
Country	More in BALIMore in IVVW	BALI	IVVW
United States	IVVW +0.2 points	99.4%	99.5%
Netherlands	BALI +0.4 points	0.4%	0.0%
Switzerland	IVVW +0.3 points	0.0%	0.3%
United Kingdom	BALI +0.2 points	0.2%	0.0%
China	IVVW +0.1 points	0.0%	0.1%
Brazil	BALI +0.1 points	0.1%	0.0%
Mexico	Same weight	0.0%	0.0%
Ireland	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

BALI35.0%
IVVW37.3%

Securities held

BALI190
IVVW503

Asset class

BALI: Equity
IVVW: Equity

Holdings

Only in BALI72
In both118
Only in IVVW385

Only in BALI

72 securities, 6.6% of BALI by weight

American Financial Group0.50%
Ferrovial NV0.33%
Texas Roadhouse Inc0.29%
Agnc Investment Reit0.29%
First Hawaiian0.26%
Dynatrace Inc0.23%
Amdocs0.23%
Blue Owl Capital Class A0.21%
Popular0.19%
United Therapeutics0.17%
New York Times Class A0.17%
Neurocrine Biosciences0.16%
First Horizon0.16%
Viking Holdings Ltd0.15%
Exelixis Inc0.15%
Healthcare Realty Trust Inc Class0.14%
Rpm International Inc0.13%
Applied Industrial Technologies0.13%
Natera0.13%
Rayonier Reit0.11%
Sentinelone Inc Class A0.10%
Omega Healthcare Investors Reit0.10%
Nvent Electric PLC0.10%
Ionis Pharmaceuticals0.10%
Ingredion Inc0.10%
Elastic0.09%
Old Republic International0.09%
Mercadolibre0.08%
Eastman Chemical0.08%
Chemed0.07%
Smithfield Foods0.07%
Astera Labs0.07%
Eastgroup Properties Reit0.06%
Snowflake0.06%
Reliance Steel & Aluminum0.06%
Gentex0.06%
Dropbox Inc Class A0.05%
H&R Block Inc0.05%
Booz Allen Hamilton Holding Class0.05%
Columbia Banking System Inc0.05%
Borgwarner0.05%
Liberty Media Series C0.05%
Mongodb Class A0.05%
W. P. Carey Reit0.05%
Littelfuse0.04%
Agree Realty Reit0.04%
Coca Cola Europacific Partners PLC0.04%
Aramark0.04%
Hinge Health Class A0.04%
Watsco0.03%

Only in IVVW

385 securities, 33.9% of IVVW by weight

Johnson & Johnson1.01%
Walmart0.84%
Mastercard Class A0.79%
Coca-Cola0.56%
Home Depot0.50%
Philip Morris International0.50%
Ge Aerospace0.48%
Rtx0.41%
Goldman Sachs Group0.40%
Thermo Fisher Scientific0.39%
Wells Fargo0.39%
Linde PLC0.36%
Morgan Stanley0.34%
Kla0.32%
Citigroup0.31%
Analog Devices0.31%
Walt Disney0.29%
Salesforce0.29%
Conocophillips0.28%
Mcdonalds Corp0.28%
Union Pacific0.28%
Arista Networks0.27%
Deere0.26%
Welltower0.26%
American Express0.26%
BlackRock0.25%
Accenture PLC Class A0.24%
Intuitive Surgical0.23%
AT&T0.22%
Danaher0.22%
Eaton PLC0.22%
Vertex Pharmaceuticals0.22%
S&P Global0.22%
Boeing0.21%
Progressive0.21%
Uber Technologies0.20%
Altria Group Inc0.20%
Chubb0.20%
Bristol Myers Squibb0.20%
Capital One Financial Corp0.19%
Marathon Petroleum0.19%
Prologis Reit0.19%
Automatic Data Processing Inc0.18%
Parker-Hannifin0.17%
Newmont0.17%
Servicenow0.17%
Southern0.17%
Stryker0.16%
Equinix Reit0.15%
Bank of New York Mellon Corp0.15%

Weight gaps

The 100 widest of 118 Holdings in both funds.

Holding weights in BALI and IVVW, widest gap first
Holding	More in BALIMore in IVVW	BALI	IVVW
AppleAAPL	IVVW +1.35 points	6.35%	7.70%
ChevronCVX	BALI +1.16 points	1.87%	0.71%
United Parcel Service Inc Class BUPS	BALI +1.12 points	1.24%	0.12%
Costco Wholesale CorpCOST	BALI +1.06 points	1.75%	0.69%
Procter & GamblePG	BALI +1.05 points	1.63%	0.58%
PfizerPFE	BALI +1.02 points	1.29%	0.27%
TjxTJX	BALI +1.00 points	1.24%	0.24%
Tesla IncTSLA	IVVW +0.94 points	0.79%	1.73%
Exxonmobil Holdings CorpXOM	BALI +0.83 points	2.01%	1.18%
Wec Energy GroupWEC	BALI +0.82 points	0.88%	0.06%
Lockheed MartinLMT	BALI +0.80 points	1.00%	0.20%
NVIDIANVDA	IVVW +0.76 points	6.82%	7.58%
Abbott LaboratoriesABT	BALI +0.67 points	0.95%	0.28%
Cardinal HealthCAH	BALI +0.66 points	0.75%	0.09%
Verizon Communications IncVZ	BALI +0.65 points	0.93%	0.28%
Ametek IncAME	BALI +0.60 points	0.68%	0.08%
Vulcan MaterialsVMC	BALI +0.54 points	0.60%	0.06%
Gilead SciencesGILD	BALI +0.55 points	0.87%	0.32%
Visa Class AV	BALI +0.54 points	1.62%	1.08%
Airbnb Class AABNB	BALI +0.54 points	0.65%	0.11%
MicrosoftMSFT	IVVW +0.52 points	5.41%	5.93%
Phillips 66PSX	BALI +0.52 points	0.69%	0.17%
UnitedHealth GroupUNH	BALI +0.51 points	1.07%	0.56%
Citizens Financial Group IncCFG	BALI +0.50 points	0.54%	0.04%
3MMMM	BALI +0.47 points	0.61%	0.14%
Meta Platforms Class AMETA	IVVW +0.48 points	1.60%	2.08%
Amazon.com IncAMZN	IVVW +0.45 points	3.16%	3.61%
Alphabet Class AGOOGL	IVVW +0.45 points	2.06%	2.51%
Oreilly Automotive IncORLY	BALI +0.42 points	0.53%	0.11%
Merck & Co IncMRK	BALI +0.41 points	0.97%	0.56%
Ppl CorpPPL	BALI +0.40 points	0.44%	0.04%
Valero Energy CorpVLO	BALI +0.39 points	0.57%	0.18%
VerisignVRSN	BALI +0.39 points	0.43%	0.04%
PepsicoPEP	BALI +0.39 points	0.68%	0.29%
Eli LillyLLY	IVVW +0.37 points	1.37%	1.74%
Archer Daniels MidlandADM	BALI +0.36 points	0.42%	0.06%
General Dynamics CorpGD	BALI +0.37 points	0.51%	0.14%
Applied Material IncAMAT	BALI +0.35 points	0.82%	0.47%
Medtronic PLCMDT	BALI +0.35 points	0.53%	0.18%
Cisco Systems IncCSCO	BALI +0.33 points	0.96%	0.63%
Mckesson CorpMCK	BALI +0.32 points	0.50%	0.18%
Broadcom IncAVGO	IVVW +0.31 points	2.07%	2.38%
Booking HoldingsBKNG	BALI +0.30 points	0.47%	0.17%
Us BancorpUSB	BALI +0.29 points	0.43%	0.14%
Lam ResearchLRCX	BALI +0.29 points	0.75%	0.46%
PaychexPAYX	BALI +0.28 points	0.34%	0.06%
Caterpillar IncCAT	BALI +0.29 points	0.73%	0.44%
Nextera EnergyNEE	BALI +0.28 points	0.55%	0.27%
Adobe IncADBE	BALI +0.28 points	0.43%	0.15%
Comfort Systems UsaFIX	BALI +0.27 points	0.34%	0.07%
Charles SchwabSCHW	BALI +0.27 points	0.49%	0.22%
Berkshire Hathaway Inc Class BBRK.B	BALI +0.26 points	1.81%	1.55%
Mondelez International Class AMDLZ	BALI +0.26 points	0.39%	0.13%
Bank of AmericaBAC	BALI +0.25 points	0.75%	0.50%
Northrop Grumman CorpNOC	BALI +0.25 points	0.36%	0.11%
Rockwell Automation IncROK	BALI +0.25 points	0.32%	0.07%
Travelers CompaniesTRV	BALI +0.23 points	0.36%	0.13%
Exelon CorpEXC	BALI +0.24 points	0.31%	0.07%
Air Products and ChemicalsAPD	BALI +0.22 points	0.33%	0.11%
Micron TechnologyMU	IVVW +0.21 points	1.32%	1.53%
Target CorpTGT	BALI +0.20 points	0.31%	0.11%
FortinetFTNT	BALI +0.20 points	0.33%	0.13%
Intercontinental Exchange IncICE	BALI +0.20 points	0.35%	0.15%
JPMorgan Chase & CoJPM	IVVW +0.20 points	1.17%	1.37%
Tyson Foods Inc Class ATSN	BALI +0.20 points	0.22%	0.02%
Duke Energy CorpDUK	BALI +0.20 points	0.35%	0.15%
Starbucks CorpSBUX	BALI +0.19 points	0.37%	0.18%
Lowes Companies IncLOW	BALI +0.18 points	0.36%	0.18%
Amgen IncAMGN	BALI +0.17 points	0.56%	0.39%
BlackstoneBX	BALI +0.18 points	0.31%	0.13%
Healthpeak Properties IncDOC	BALI +0.18 points	0.20%	0.02%
IntuitINTU	BALI +0.18 points	0.32%	0.14%
Amphenol Corp Class AAPH	BALI +0.17 points	0.47%	0.30%
Texas InstrumentTXN	BALI +0.17 points	0.59%	0.42%
Western Digital CorpWDC	BALI +0.17 points	0.36%	0.20%
Cvs HealthCVS	BALI +0.16 points	0.34%	0.18%
Palantir Technologies Class APLTR	IVVW +0.15 points	0.50%	0.65%
Dell Technologies Inc Class CDELL	BALI +0.15 points	0.35%	0.20%
Avery Dennison CorpAVY	BALI +0.15 points	0.17%	0.02%
T Mobile Us IncTMUS	BALI +0.14 points	0.26%	0.12%
International Business Machines CoIBM	BALI +0.14 points	0.51%	0.37%
Transdigm GroupTDG	BALI +0.13 points	0.23%	0.10%
Boston ScientificBSX	BALI +0.14 points	0.23%	0.09%
Palo Alto NetworksPANW	IVVW +0.14 points	0.32%	0.46%
Honeywell International IncHON	BALI +0.12 points	0.23%	0.11%
Constellation Brands Class ASTZ	BALI +0.12 points	0.15%	0.03%
FastenalFAST	BALI +0.12 points	0.21%	0.09%
Kraft HeinzKHC	BALI +0.11 points	0.14%	0.03%
Cognizant Technology Solutions ClaCTSH	BALI +0.11 points	0.15%	0.04%
Wr BerkleyWRB	BALI +0.10 points	0.13%	0.03%
Omnicom Group IncOMC	BALI +0.11 points	0.14%	0.03%
Alphabet Class CGOOG	IVVW +0.10 points	1.93%	2.03%
OracleORCL	IVVW +0.10 points	0.25%	0.35%
Cme Group Class ACME	BALI +0.09 points	0.26%	0.17%
Fox Class AFOXA	BALI +0.09 points	0.11%	0.02%
Cboe Global MarketsCBOE	BALI +0.09 points	0.14%	0.05%
SyscoSYY	BALI +0.09 points	0.15%	0.06%
Seagate Technology Holdings PLCSTX	BALI +0.08 points	0.30%	0.22%
Hewlett Packard EnterpriseHPE	BALI +0.08 points	0.19%	0.11%
General Mills IncGIS	BALI +0.07 points	0.10%	0.03%

All 190 BALI holdings⁠All IVVW 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 IVVW Cost

Overpaying BALI vs IVVW

$1,967

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

BALI 0.35%
$7,126
IVVW 0.25%
$5,159

Amount$10,000

Years30 years

Cost over time

BALI 0.35%
IVVW 0.25%
Overpaying

Year by year

Year	BALI	IVVW	Overpaying
10	$634	$455	$179
20	$2,454	$1,769	$685
30	$7,126	$5,159	$1,967

Expense ratio

0.35%BALI
0.25%IVVW, cheaper

IVVW0.25%BALI0.35%

0.10%1.18%

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

IVVW 2nd cheapest of 51 funds

BALI 11th cheapest of 51 funds

BALI vs IVVW Dividends

Last 12 months to Oct 30, 2026

Yield (12M): BALI 7.84%; IVVW 18.55%, better
Payout (12M): BALI $2.67; IVVW $8.25
Last payment: BALI $0.18; IVVW $0.88
Ex-dividend: BALI Oct 1, 2026; IVVW Oct 2, 2026
Paid on: BALI Oct 6, 2026; IVVW Oct 7, 2026
Frequency: BALI Monthly; IVVW Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

BALIMonthly · 36 paymentsAll BALI payments⁠

IVVWMonthly · 31 paymentsAll IVVW payments⁠

BALI vs IVVW 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%IVVW 7.3%since Apr 2024
Return per unit of riskSharpe ratio, 3 years: BALI 1.52IVVW 1.10since Apr 2024
Worst fallMax drawdown, 5 years: BALI −16.6%since Sep 2023IVVW −16.8%since Mar 2024
Market sensitivityBeta, 5 years: BALI 0.79IVVW 0.54; Market = 1

BALI and IVVW 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

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BALI vs IVVW

In short

Stated mandate

Why people hold it

Worth knowing

How BALI and IVVW differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in BALI

Only in IVVW

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

How BALI and IVVW differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in BALI

Only in IVVW

Weight gaps