BALI vs RSPA: Grades, Fees and Holdings Compared

iShares U.S. Large Cap Premium Income Active ETF

BALIACboe

Invesco S&P 500 Equal Weight Income Advantage ETF

RSPAANYSE Arca

Overlap

16.9%by weight

Expense ratio

RSPA −0.06pt a year

BALI0.35%RSPA0.29%

Avg volume · 30D

BALI 1.3×the volume

BALI337KRSPA255K

BALI vs RSPA Performance

Oct 31, 2025 – Oct 30, 2026

+15.6%BALI+15.4%RSPA

Expense ratio: BALI 0.35%; RSPA 0.29%, better
Fund size: BALI $1.54B; RSPA $1.22B
1Y total return: BALI +15.6%, better; RSPA +15.4%
Yield (12M): BALI 7.84%; RSPA 9.16%, better
Holdings: BALI 193; RSPA 526
Avg volume (30D): BALI 337K sh, better; RSPA 255K sh
NAV per share: BALI $34.08; RSPA $53.02
52W range

ETF.net Grade

Pillar letters and Scores for BALI, RSPA, with each pillar’s weight
Pillar	BALI	RSPA
Cost30% weight	A77	A87Higher
Mission25% weight	A100	Not scored
Risk15% weight	B56	A71Higher
Tradability15% weight	A83Higher	B59
Holdings10% weight	A83Higher	A80
Durability5% weight	A85Higher	A70

Rank among S&P 500 Option Income funds

How we build Categories ›

Same Category. BALI and RSPA 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 RSPA 5th 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
Rank 5ARSPAInvesco S&P 500 Equal Weight Income Advantage ETFScore 76
Rank 6AGQINatixis Gateway Quality Income ETFScore 74

Our read on each fund

ETF.net Research

BALIAiShares U.S. Large Cap Premium Income Active ETF

RSPAAInvesco S&P 500 Equal Weight Income Advantage 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.

RSPA Most S&P 500 option-income funds sit on a megacap-led index. RSPA runs the equal-weight version instead: about 500 stocks at roughly even weight, income paid monthly, 0.29% net of a waiver through August 31, 2027.

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.

RSPA The fund seeks exposure to the S&P 500 Equal Weight Index while using an active option-income overlay. It is designed to generate consistent monthly income while retaining growth potential and lower volatility.

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.

RSPA Fully replicates the S&P 500 Equal Weight Index, so its roughly 500 names carry similar weights and no handful of megacaps sets the tone.sec.gov
0.29% net (0.32% gross) under a waiver through August 31, 2027, below its 52-fund category median. Ties GPIX, at 0.29% net of a waiver through April 30, 2027.
Income comes from short-term equity-linked notes capped at 10% of net assets, with cash and Treasury bills held alongside the stocks. Paid out monthly.sec.gov sec.gov 2
Rates among the stronger builds in a crowded field of S&P 500 income-overlay funds.

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.

RSPA The overlay trades away some of the index's upside for premium income, so strong rallies land softer than plain equal-weight exposure.invesco.com sec.gov
Income flows through notes issued by banks rather than listed calls the fund writes itself, which adds credit exposure to those issuers.sec.gov
Launched in July 2024, so the strategy has yet to be tested across a full market cycle.

Full BALI profile⁠

Full RSPA profile⁠

BALI vs RSPA Holdings

How BALI and RSPA differ

Overlap by weight

16.9%

Shared holdings make up 89.5% of BALI and 17.6% of RSPA.

Level by level

Holdings118 in both16.9%
Sector11 Sectors75.8%
Countryby domicile99.0%
Asset classEquity100%

Sector

Sector weights in BALI and RSPA, widest gap first
Sector	More in BALIMore in RSPA	BALI	RSPA
Technology	BALI +19.0 points	37.0%	18.0%
Industrials	RSPA +6.9 points	8.3%	15.2%
Real Estate	RSPA +5.1 points	0.7%	5.8%
Communication	BALI +4.0 points	8.0%	4.0%
Utilities	RSPA +3.3 points	2.6%	5.9%
Financials	RSPA +3.0 points	10.5%	13.5%
Materials	RSPA +2.4 points	1.5%	3.9%
Consumer Discretionary	RSPA +2.0 points	8.7%	10.7%
Health Care	RSPA +1.3 points	11.3%	12.6%
Energy	BALI +1.2 points	5.2%	4.0%
Consumer Staples	Same weight	6.3%	6.3%

Country, concentration and asset class

Country by domicile

Country weights in BALI and RSPA, widest gap first
Country	More in BALIMore in RSPA	BALI	RSPA
United States	BALI +0.6 points	99.4%	98.8%
Other countries (7)	RSPA +0.6 points	0.6%	1.2%

Concentration

Weight in the 10 largest Holdings

BALI35.0%
RSPA21.1%

Securities held

BALI190
RSPA524

Asset class

BALI: Equity
RSPA: Equity

Holdings

Only in BALI72
In both118
Only in RSPA406

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 RSPA

406 securities, 82.2% of RSPA by weight

Invesco Premier US Government Money Portfolio18.42%
Toronto-Dominion Bank/The 118.10% 11/30/20260.36%
JPMorgan Chase & Co 126.60% 11/24/20260.33%
Royal Bank of Canada 149.55% 11/17/20260.33%
Bank of Montreal 120.22% 11/27/20260.31%
Citigroup Inc 136.78% 11/25/20260.31%
JPMorgan Chase & Co 136.50% 11/04/20260.29%
Citigroup Inc 136.97% 11/16/20260.27%
Wells Fargo & Co 133.70% 11/18/20260.25%
Moderna Inc0.24%
Toronto-Dominion Bank/The 139.80% 11/06/20260.24%
Canadian Imperial Bank of Commerce 123.50% 11/23/20260.23%
PTC Inc0.23%
Toronto-Dominion Bank/The 152.20% 11/05/20260.22%
Goldman Sachs Group Inc/The 124.90% 11/16/20260.22%
Illumina Inc0.21%
Everpure Inc0.21%
JPMorgan Chase & Co 116.00% 11/10/20260.21%
Accenture PLC0.21%
JPMorgan Chase & Co 113.90% 11/09/20260.21%
Wells Fargo & Co 139.53% 11/19/20260.20%
Wells Fargo & Co 137.58% 11/20/20260.20%
Charles River Laboratories International Inc0.20%
Hasbro Inc0.20%
Revvity Inc0.20%
Mettler-Toledo International Inc0.20%
Gartner Inc0.20%
Morgan Stanley 109.65% 12/01/20260.19%
Intuitive Surgical Inc0.19%
Carnival Corp Ltd0.19%
Bank of Montreal 121.52% 11/12/20260.19%
Bank of Montreal 124.65% 11/13/20260.19%
Agilent Technologies Inc0.19%
BNP Paribas SA 138.00% 11/03/20260.19%
Synopsys Inc0.19%
West Pharmaceutical Services Inc0.18%
Allegion plc0.18%
Norwegian Cruise Line Holdings Ltd0.18%
Marriott International Inc/MD0.18%
Cadence Design Systems Inc0.18%
Ulta Beauty Inc0.18%
Royal Caribbean Cruises Ltd0.18%
Ralph Lauren Corp0.18%
NXP Semiconductors NV0.18%
Veeva Systems Inc0.18%
Analog Devices Inc0.18%
Waters Corp0.18%
Biogen Inc0.18%
NetApp Inc0.18%
Crown Castle Inc0.18%

Weight gaps

The 100 widest of 118 Holdings in both funds.

Holding weights in BALI and RSPA, widest gap first
Holding	More in BALIMore in RSPA	BALI	RSPA
NVIDIANVDA	BALI +6.68 points	6.82%	0.14%
AppleAAPL	BALI +6.19 points	6.35%	0.16%
MicrosoftMSFT	BALI +5.25 points	5.41%	0.16%
Amazon.com IncAMZN	BALI +3.02 points	3.16%	0.14%
Alphabet Class AGOOGL	BALI +1.99 points	2.06%	0.07%
Broadcom IncAVGO	BALI +1.93 points	2.07%	0.14%
Alphabet Class CGOOG	BALI +1.87 points	1.93%	0.06%
Exxonmobil Holdings CorpXOM	BALI +1.84 points	2.01%	0.17%
ChevronCVX	BALI +1.71 points	1.87%	0.16%
Berkshire Hathaway Inc Class BBRK.B	BALI +1.65 points	1.81%	0.16%
Costco Wholesale CorpCOST	BALI +1.59 points	1.75%	0.16%
Procter & GamblePG	BALI +1.46 points	1.63%	0.17%
Meta Platforms Class AMETA	BALI +1.46 points	1.60%	0.14%
Visa Class AV	BALI +1.45 points	1.62%	0.17%
Eli LillyLLY	BALI +1.19 points	1.37%	0.18%
Micron TechnologyMU	BALI +1.18 points	1.32%	0.14%
PfizerPFE	BALI +1.13 points	1.29%	0.16%
United Parcel Service Inc Class BUPS	BALI +1.08 points	1.24%	0.16%
Advanced Micro DevicesAMD	BALI +1.07 points	1.23%	0.16%
TjxTJX	BALI +1.07 points	1.24%	0.17%
JPMorgan Chase & CoJPM	BALI +1.03 points	1.17%	0.14%
UnitedHealth GroupUNH	BALI +0.91 points	1.07%	0.16%
Merck & Co IncMRK	BALI +0.82 points	0.97%	0.15%
Lockheed MartinLMT	BALI +0.82 points	1.00%	0.18%
Cisco Systems IncCSCO	BALI +0.81 points	0.96%	0.15%
Abbott LaboratoriesABT	BALI +0.80 points	0.95%	0.15%
Verizon Communications IncVZ	BALI +0.80 points	0.93%	0.13%
Wec Energy GroupWEC	BALI +0.72 points	0.88%	0.16%
Gilead SciencesGILD	BALI +0.70 points	0.87%	0.17%
Applied Material IncAMAT	BALI +0.69 points	0.82%	0.13%
AbbVieABBV	BALI +0.64 points	0.81%	0.17%
Lam ResearchLRCX	BALI +0.63 points	0.75%	0.12%
Bank of AmericaBAC	BALI +0.63 points	0.75%	0.12%
Tesla IncTSLA	BALI +0.63 points	0.79%	0.16%
Caterpillar IncCAT	BALI +0.61 points	0.73%	0.12%
Cardinal HealthCAH	BALI +0.59 points	0.75%	0.16%
Phillips 66PSX	BALI +0.53 points	0.69%	0.16%
PepsicoPEP	BALI +0.53 points	0.68%	0.15%
Ametek IncAME	BALI +0.52 points	0.68%	0.16%
Airbnb Class AABNB	BALI +0.50 points	0.65%	0.15%
3MMMM	BALI +0.45 points	0.61%	0.16%
Vulcan MaterialsVMC	BALI +0.43 points	0.60%	0.17%
Valero Energy CorpVLO	BALI +0.42 points	0.57%	0.15%
Texas InstrumentTXN	BALI +0.41 points	0.59%	0.18%
Nextera EnergyNEE	BALI +0.40 points	0.55%	0.15%
Citizens Financial Group IncCFG	BALI +0.40 points	0.54%	0.14%
Amgen IncAMGN	BALI +0.38 points	0.56%	0.18%
Oreilly Automotive IncORLY	BALI +0.38 points	0.53%	0.15%
Medtronic PLCMDT	BALI +0.37 points	0.53%	0.16%
Charles SchwabSCHW	BALI +0.36 points	0.49%	0.13%
General Dynamics CorpGD	BALI +0.35 points	0.51%	0.16%
International Business Machines CoIBM	BALI +0.35 points	0.51%	0.16%
Booking HoldingsBKNG	BALI +0.34 points	0.47%	0.13%
Mckesson CorpMCK	BALI +0.34 points	0.50%	0.16%
Intel CorporationINTC	BALI +0.33 points	0.46%	0.13%
Palantir Technologies Class APLTR	BALI +0.33 points	0.50%	0.17%
NetflixNFLX	BALI +0.32 points	0.44%	0.12%
Amphenol Corp Class AAPH	BALI +0.32 points	0.47%	0.15%
Us BancorpUSB	BALI +0.28 points	0.43%	0.15%
Archer Daniels MidlandADM	BALI +0.29 points	0.42%	0.13%
Ppl CorpPPL	BALI +0.29 points	0.44%	0.15%
Adobe IncADBE	BALI +0.29 points	0.43%	0.14%
VerisignVRSN	BALI +0.27 points	0.43%	0.16%
Ge VernovaGEV	BALI +0.25 points	0.39%	0.14%
Western Digital CorpWDC	BALI +0.25 points	0.36%	0.12%
Mondelez International Class AMDLZ	BALI +0.24 points	0.39%	0.15%
Comfort Systems UsaFIX	BALI +0.22 points	0.34%	0.12%
Dell Technologies Inc Class CDELL	BALI +0.22 points	0.35%	0.13%
Starbucks CorpSBUX	BALI +0.21 points	0.37%	0.16%
Lowes Companies IncLOW	BALI +0.20 points	0.36%	0.16%
FortinetFTNT	BALI +0.20 points	0.33%	0.13%
PaychexPAYX	BALI +0.20 points	0.34%	0.14%
Travelers CompaniesTRV	BALI +0.20 points	0.36%	0.16%
Cvs HealthCVS	BALI +0.20 points	0.34%	0.14%
Northrop Grumman CorpNOC	BALI +0.20 points	0.36%	0.16%
Duke Energy CorpDUK	BALI +0.19 points	0.35%	0.16%
Intercontinental Exchange IncICE	BALI +0.19 points	0.35%	0.16%
Crowdstrike Holdings Class ACRWD	BALI +0.18 points	0.37%	0.19%
Seagate Technology Holdings PLCSTX	BALI +0.18 points	0.30%	0.12%
BlackstoneBX	BALI +0.17 points	0.31%	0.14%
Target CorpTGT	BALI +0.17 points	0.31%	0.14%
Air Products and ChemicalsAPD	BALI +0.17 points	0.33%	0.16%
Marvell TechnologyMRVL	BALI +0.17 points	0.31%	0.14%
Rockwell Automation IncROK	BALI +0.16 points	0.32%	0.16%
IntuitINTU	BALI +0.16 points	0.32%	0.16%
Palo Alto NetworksPANW	BALI +0.15 points	0.32%	0.17%
Exelon CorpEXC	BALI +0.15 points	0.31%	0.16%
T Mobile Us IncTMUS	BALI +0.14 points	0.26%	0.12%
OracleORCL	BALI +0.12 points	0.25%	0.13%
SandiskSNDK	BALI +0.13 points	0.24%	0.11%
QualcommQCOM	BALI +0.11 points	0.27%	0.16%
Twilio Class ATWLO	RSPA +0.10 points	0.03%	0.13%
Cme Group Class ACME	BALI +0.10 points	0.26%	0.16%
Boston ScientificBSX	BALI +0.09 points	0.23%	0.14%
Incyte CorpINCY	RSPA +0.09 points	0.05%	0.14%
DowDOW	RSPA +0.08 points	0.09%	0.17%
Caseys General Stores IncCASY	RSPA +0.08 points	0.08%	0.16%
Best BuyBBY	RSPA +0.08 points	0.09%	0.17%
KeycorpKEY	RSPA +0.08 points	0.07%	0.15%
Transdigm GroupTDG	BALI +0.07 points	0.23%	0.16%

All 190 BALI holdings⁠All 524 RSPA 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 RSPA Cost

Overpaying BALI vs RSPA

$1,174

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

BALI 0.35%
$7,126
RSPA 0.29%
$5,952

Amount$10,000

Years30 years

Cost over time

BALI 0.35%
RSPA 0.29%
Overpaying

Year by year

Year	BALI	RSPA	Overpaying
10	$634	$527	$107
20	$2,454	$2,044	$410
30	$7,126	$5,952	$1,174

Expense ratio

0.35%BALI
0.29%RSPA, cheaper

RSPA0.29%BALI0.35%

0.10%1.18%

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

RSPA 5th cheapest of 51 funds

BALI 11th cheapest of 51 funds

BALI vs RSPA Dividends

Last 12 months to Oct 30, 2026

Yield (12M): BALI 7.84%; RSPA 9.16%, better
Payout (12M): BALI $2.67; RSPA $4.87
Last payment: BALI $0.18; RSPA $0.41
Ex-dividend: BALI Oct 1, 2026; RSPA Oct 19, 2026
Paid on: BALI Oct 6, 2026; RSPA Oct 23, 2026
Frequency: BALI Monthly; RSPA Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

BALIMonthly · 36 paymentsAll BALI payments⁠

RSPAMonthly · 27 paymentsAll RSPA payments⁠

BALI vs RSPA 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%RSPA 9.3%since Aug 2024
Return per unit of riskSharpe ratio, 3 years: BALI 1.52RSPA 0.83since Aug 2024
Worst fallMax drawdown, 5 years: BALI −16.6%since Sep 2023RSPA −15.4%since Jul 2024
Market sensitivityBeta, 5 years: BALI 0.79RSPA 0.58; Market = 1

BALI and RSPA 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 RSPA

In short

Stated mandate

Why people hold it

Worth knowing

How BALI and RSPA differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in BALI

Only in RSPA

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 RSPA differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in BALI

Only in RSPA

Weight gaps