BATS · Active · options-income

Global X Bitcoin Covered Call ETF

Global X Management Company LLC

Weighted score · 2.30 / 5

AUM

assets under mgmt

Avg Volume

shares · daily

Distribution

Weekly · 100% ROC

Expense Ratio

0.75% gross

1Y Return

vs underlying

Sharpe

Max DD -42.1%

The Global X Bitcoin Covered Call ETF seeks to provide current income while also providing exposure to the price return of one or more U.S.

The Fund is an actively managed ETF that employs a synthetic covered call strategy to provide current income and exposure to the price returns of one or more U.S.-listed Bitcoin ETPs. Rather than owning the underlying Bitcoin ETPs directly, the Fund synthetically replicates exposure by writing put options and purchasing call options (or purchasing deep in-the-money call options) on Bitcoin ETPs or Bitcoin ETF Indexes, while simultaneously selling call options on those same reference assets to generate premium income. The Fund invests at least 80% of its net assets in assets providing direct or indirect exposure to bitcoin, including options on Bitcoin ETF Indexes, options on Bitcoin ETPs, Bitcoin ETPs, and U.S. exchange-traded bitcoin futures contracts. The Fund may also invest through a wholly-owned Cayman Islands subsidiary to gain exposure to options on Spot Bitcoin ETFs.

The Fund writes (sells) call options on Bitcoin ETPs or Bitcoin ETF Indexes on all or a portion of its net assets to generate premium income, while synthetically replicating long exposure to the underlying Bitcoin ETPs via purchased calls and/or sold puts at the same strike price, or through deep in-the-money call options. The sold call options cap the Fund's upside participation beyond the strike price, but premiums received partially offset downside losses. Both traditional exchange-traded options and FLEX options may be used, all guaranteed for settlement by the OCC.

NAV HISTORY · JUN '25 – JUN '26

Max DD

Volatility

Sharpe

Sortino

Calmar

Beta

Share of each distribution you’d need to reinvest just to hold NAV flat. Higher means more of the yield is your own capital coming back.

Composition · Recent Distribution

Tax Treatment — Ordinary Income

ORDINARY INCOME

Distribution Composition (Recent)

ROC is not free money — it lowers your cost basis. When shares are sold, capital gains are computed against the lower basis.

Composition · Narrative

The June 25, 2026 distribution of $0.0721 per share is composed entirely of Return of Capital (100%), with no net investment income or capital gains component. On a fiscal year-to-date basis, all $3.6750 in cumulative distributions are also classified as 100% Return of Capital. The fund estimates it has distributed more than its income, meaning some invested principal is being returned to shareholders.

Distribution Growth by Lookback Period

Sector Mix · Tilt vs S&P 500

Price vs. Moving Averages

Bearish — 50-DMA below 200-DMA

Price $11.40 is below the 200-day SMA ($14.87); 50-day SMA $13.25. The 50-day SMA sits below the 200-day — an established downtrend, no recent crossover. Moving-average signals are a timing aid, not a recommendation — weigh them against the distribution profile and framework score.

Liquidity

Estimated bid/ask spread ~0.16% (moderate). Average daily dollar volume ~$0.2M (thin). This spread is a high-low estimate, not a live quote; the issuer's reported median spread and premium/discount to NAV are shown above when available.

AUM ($)