Global X S&P 500 Covered Call ETF

Covered-call funds trade away upside in return for income, and XYLD is one of the largest of the type. It owns the S&P 500 and then writes at-the-money call options on the index every month, collecting the premium as cash. That premium is passed through as a monthly distribution, which is why the fund posts a yield far above the index's dividend. The catch is symmetry: when the market rallies hard, the sold calls cap gains, so XYLD lags the S&P 500 in strong years while cushioning shallow declines. It follows the Cboe S&P 500 BuyWrite Index, a strategy with decades of published history. Global X launched it in 2013. Income-focused investors, especially retirees, hold it for the steady payout, accepting that they give up much of the market's long-run growth.

On MyRWA, XYLD trades tokenized across 1 on-chain venue - see the listings below.