BALI vs SIXH: Grades, Fees and Holdings Compared

iShares U.S. Large Cap Premium Income Active ETF

BALIACboe

ETC 6 Meridian Hedged Equity Index Option ETF

SIXHCNYSE Arca

Overlap

27.9%by weight

Expense ratio

BALI −0.34pt a year

BALI0.35%SIXH0.69%

Avg volume · 30D

BALI 24.0×the volume

BALI373KSIXH15.5K

3Y return · a year

BALI +5.9pt

BALI+19.5%SIXH+13.6%

BALI vs SIXH Performance

Nov 7, 2025 – Nov 9, 2026

+15.8%BALI+20.9%SIXH

Expense ratio: BALI 0.35%, better; SIXH 0.69%
Fund size: BALI $1.5B; SIXH $621M
1Y total return: BALI +15.8%; SIXH +20.9%, better
Yield (12M): BALI 7.94%, better; SIXH 1.76%
Holdings: BALI 193; SIXH 49
Avg volume (30D): BALI 373K sh, better; SIXH 15.5K sh
NAV per share: BALI $32.85; SIXH $44.30
52W range

ETF.net Grade

Pillar letters and Scores for BALI, SIXH, with each pillar’s weight
Pillar	BALI	SIXH
Cost30% weight	A79Higher	C42
Mission25% weight	A100	Not scored
Risk15% weight	B60	A78Higher
Tradability15% weight	A84Higher	D34
Holdings10% weight	A83Higher	B63
Durability5% weight	A85Higher	B67

Rank among S&P 500 Option Income funds

How we build Categories ›

Same Category. BALI and SIXH 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 SIXH 32nd 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 31CHEDGEquable Shares Hedged Equity ETFScore 54
Rank 32CSIXHETC 6 Meridian Hedged Equity Index Option ETFScore 51
Rank 33CXSPINEOS Boosted S&P 500 High Income ETFScore 49

Our read on each fund

ETF.net Research

BALIAiShares U.S. Large Cap Premium Income Active ETF

SIXHCETC 6 Meridian Hedged Equity Index Option 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.

SIXH Most hedged-equity funds bolt options onto an index. SIXH runs a concentrated book of about 50 growth-and-quality stocks, then writes calls on broad equity indexes over the top. Active on both sides, and it pays monthly.

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.

SIXH The Fund seeks capital appreciation. Its active strategy combines an equity portfolio with call-option writing on broad equity-market indices or funds, intended to reduce broad equity-market exposure.

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.

SIXH Two decisions, not one: roughly 50 stocks screened for growth, profitability and quality, with index call writing layered on to trim broad equity-market exposure.
Fee of 0.73% lands under the same-index rivals ACYS (0.75%), OVL (0.79%) and MRSK (0.98%), so the active overlay does not carry a premium price inside its own niche.
Distributions arrive monthly, funded by option premium and the equity book rather than a fixed payout formula.
Live since 2020 and one of the stronger implementations in a crowded options-income peer group, with a real asset base behind it.

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.

SIXH Written calls hand back part of a strong rally. Premium comes in, upside gets clipped. That is the mechanism, not a malfunction.
Thinly traded next to the category's heavyweights, which tends to mean wider spreads and more attention needed on order type.
Fully active, with no index holding it to a benchmark: outcomes track the manager's stock selection and option decisions. NBOS runs a cheaper S&P 500 overlay at 0.59%.

Full BALI profile⁠

Full SIXH profile⁠

BALI vs SIXH Holdings

How BALI and SIXH differ

Overlap by weight

27.9%

Shared holdings make up 59.5% of SIXH and 39.3% of BALI.

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

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

Level by level

Holdings32 in both27.9%
Sector11 Sectors71.5%
Countryby domicile99.4%
Asset classStocks100%

Sector

Sector weights in BALI and SIXH, widest gap first
Sector	Gap	BALI	SIXH
Consumer Staples	SIXH +18.8 points	6.9%	25.7%
Technology	BALI +18.1 points	33.8%	15.7%
Health Care	SIXH +6.1 points	12.0%	18.1%
Consumer Discretionary	BALI +5.3 points	9.3%	4.0%
Financials	BALI +3.0 points	11.2%	8.2%
Real Estate	SIXH +2.2 points	0.8%	3.0%
Materials	BALI +1.6 points	1.6%	0.0%
Communication	SIXH +1.4 points	8.5%	9.9%
Energy	BALI +0.3 points	4.9%	4.6%
Industrials	BALI +0.2 points	8.2%	8.0%
Utilities	SIXH +0.1 points	2.8%	2.9%

Country, concentration and asset class

Country by domicile

Country weights in BALI and SIXH, widest gap first
Country	More in BALIMore in SIXH	Gap	BALI	SIXH
United States		SIXH +0.6 points	99.4%	100.0%
Other countries (4)		BALI +0.6 points	0.6%	0.0%

Concentration

Weight in the 10 largest Holdings

BALI35.4%
SIXH37.5%

Securities held

BALI190
SIXH48

Asset class

BALI: Stocks
SIXH: Stocks

Holdings

Only in BALI158
In both32
Only in SIXH16

Only in BALI

158 securities, 57.3% of BALI by weight

Microsoft5.71%
Amazon.com Inc3.54%
Alphabet Class A2.18%
Alphabet Class C2.04%
Berkshire Hathaway Inc Class B1.98%
Broadcom Inc1.93%
Visa Class A1.72%
United Parcel Service Inc Class B1.29%
Tjx1.24%
JPMorgan Chase & Co1.21%
UnitedHealth Group1.07%
Abbott Laboratories1.02%
Lockheed Martin0.92%
Wec Energy Group0.91%
Cardinal Health0.84%
Airbnb Class A0.77%
Bank of America0.77%
Tesla Inc0.73%
3M0.68%
Ametek Inc0.67%
Vulcan Materials0.63%
Phillips 660.62%
Nextera Energy0.59%
Oreilly Automotive Inc0.56%
Citizens Financial Group Inc0.55%
Mckesson Corp0.55%
American Financial Group0.52%
Valero Energy Corp0.52%
International Business Machines Co0.50%
General Dynamics Corp0.50%
Netflix0.47%
Ppl Corp0.46%
Amphenol Corp Class A0.46%
Verisign0.45%
Adobe Inc0.43%
Intel Corporation0.41%
Lowes Companies Inc0.40%
Archer Daniels Midland0.40%
Starbucks Corp0.39%
Travelers Companies0.38%
Paychex0.37%
Intercontinental Exchange Inc0.37%
Duke Energy Corp0.37%
Ferrovial NV0.36%
Northrop Grumman Corp0.35%
Crowdstrike Holdings Class A0.34%
Target Corp0.34%
Intuit0.33%
Air Products and Chemicals0.33%
Cvs Health0.33%

Only in SIXH

16 securities, 40.3% of SIXH by weight

Altria Group Inc5.13%
AT&T Inc3.99%
Bristol-Myers Squibb Company3.93%
Philip Morris International3.74%
State Street Spdr Portfol3.12%
Comcast Corp A2.76%
Walmart Inc.2.67%
Johnson & Johnson2.66%
Conocophillips2.33%
Ss Spdr S&P 500 Etf Trust-Us2.02%
Mcdonald's Corp1.41%
Coca-Cola Co/The1.34%
American Tower Corp1.32%
General Motors Company1.30%
Capital One Financial Corp1.30%
Citigroup Inc1.28%

Weight gaps

All 32 Holdings in both funds, largest gap first.

Holding weights in BALI and SIXH, widest gap first
Holding	Gap	BALI	SIXH
NVIDIANVDA	BALI +5.25 points	6.45%	1.20%
AppleAAPL	BALI +5.24 points	6.55%	1.31%
PepsicoPEP	SIXH +3.34 points	0.72%	4.06%
Verizon Communications IncVZ	SIXH +3.04 points	0.99%	4.03%
SandiskSNDK	SIXH +2.68 points	0.18%	2.86%
T Mobile Us IncTMUS	SIXH +2.45 points	0.28%	2.73%
Mondelez International Class AMDLZ	SIXH +2.27 points	0.41%	2.68%
Us BancorpUSB	SIXH +2.18 points	0.45%	2.63%
Micron TechnologyMU	SIXH +2.01 points	1.07%	3.08%
ChevronCVX	SIXH +1.80 points	1.75%	3.56%
Lam ResearchLRCX	SIXH +1.56 points	0.65%	2.21%
QualcommQCOM	SIXH +1.04 points	0.28%	1.32%
Booking HoldingsBKNG	SIXH +0.90 points	0.53%	1.43%
Costco Wholesale CorpCOST	SIXH +0.85 points	1.89%	2.74%
Charles SchwabSCHW	SIXH +0.84 points	0.53%	1.37%
Ge VernovaGEV	SIXH +0.83 points	0.36%	1.19%
Medtronic PLCMDT	SIXH +0.81 points	0.58%	1.39%
Amgen IncAMGN	SIXH +0.72 points	0.58%	1.30%
Palantir Technologies Class APLTR	SIXH +0.70 points	0.45%	1.15%
Texas InstrumentTXN	SIXH +0.65 points	0.56%	1.21%
Caterpillar IncCAT	SIXH +0.50 points	0.68%	1.18%
Exxonmobil Holdings CorpXOM	SIXH +0.48 points	1.85%	2.33%
AbbVieABBV	SIXH +0.47 points	0.83%	1.30%
Gilead SciencesGILD	SIXH +0.41 points	0.88%	1.29%
Applied Material IncAMAT	SIXH +0.39 points	0.73%	1.12%
Procter & GamblePG	BALI +0.39 points	1.74%	1.35%
Meta Platforms Class AMETA	BALI +0.34 points	1.65%	1.31%
Merck & Co IncMRK	SIXH +0.31 points	0.98%	1.29%
Cisco Systems IncCSCO	SIXH +0.29 points	0.89%	1.18%
Eli LillyLLY	BALI +0.10 points	1.36%	1.26%
Advanced Micro DevicesAMD	SIXH +0.03 points	1.14%	1.17%
PfizerPFE	BALI +0.02 points	1.29%	1.27%

All 190 BALI holdings⁠All 49 SIXH 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 SIXH Cost

Overpaying SIXH vs BALI

$6,303

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

BALI 0.35%
$7,126
SIXH 0.69%
$13,429

Amount$10,000

Years30 years

Cost over time

BALI 0.35%
SIXH 0.69%
Overpaying

Year by year

Year	BALI	SIXH	Overpaying
10	$634	$1,232	$598
20	$2,454	$4,697	$2,243
30	$7,126	$13,429	$6,303

Expense ratio

0.35%BALI, cheaper
0.69%SIXH

BALI0.35%SIXH0.69%

0.10%1.18%

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

BALI 11th cheapest of 51 funds

SIXH 30th cheapest of 51 funds

BALI vs SIXH Dividends

Last 12 months to Nov 9, 2026

Yield (12M): BALI 7.94%, better; SIXH 1.76%
Payout (12M): BALI $2.66; SIXH $0.79
Last payment: BALI $0.18; SIXH $0.12
Ex-dividend: BALI Nov 2, 2026; SIXH Oct 28, 2026
Paid on: BALI Nov 5, 2026; SIXH Oct 30, 2026
Frequency: BALI Monthly; SIXH Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

BALIMonthly · 37 paymentsAll BALI payments⁠

SIXHMonthly · 46 paymentsAll SIXH payments⁠

BALI vs SIXH 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%SIXH 7.2%, better
Return per unit of riskSharpe ratio, 3 years: BALI 1.52, betterSIXH 1.36
Worst fallMax drawdown, 5 years: BALI −16.6%since Sep 2023SIXH −11.7%
Market sensitivityBeta, 5 years: BALI 0.78SIXH 0.09; Market = 1

BALI and SIXH 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 SIXH

In short

Stated mandate

Why people hold it

Worth knowing

How BALI and SIXH differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in BALI

Only in SIXH

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 SIXH differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in BALI

Only in SIXH

Weight gaps