HEMI vs IVVW

HEMIBHartford Equity Premium Income ETF

IVVWAiShares S&P 500 BuyWrite ETF

In short

HEMI Hartford's late entry into the crowded S&P 500 premium-income field, with a twist: an actively picked, value-quality-momentum stock book sits under the options overlay, aimed at tax-efficient income while leaving room to appreciate.

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

HEMI Seeks tax-efficient current income while retaining potential for 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

• HEMI Not a plain index buy-write. An active portfolio screened on value, quality and momentum sits under the options sleeve, with the S&P 500 as the reference point.
• The mandate is written for tax-efficient current income while retaining potential for capital appreciation, not income at any cost.
• At 0.58%, the fee lands just under the median for S&P 500 options-income ETFs, a group where plenty of funds charge north of 0.90%.

• 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

• HEMI It launched in December 2025, so there is no multi-year record showing how the strategy handles a full market cycle.
• A small asset base and light trading make spreads wider than in the category's giants. Limit orders matter more here.
• Cheaper rivals crowd the same trade: IVVW at 0.25%, RSPA at 0.32%, GPIX and BALI at 0.35%.

• 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 HEMI profile⁠

Full IVVW profile⁠