BATS · Active · options-income

Global X Ethereum 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 -30.1%

The Global X Ethereum 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, gaining long exposure to Ether ETPs by purchasing and selling combinations of call and put options (or deep in-the-money call options) on those ETPs, then selling call options at-the-money or out-of-the-money to generate income. The Fund invests at least 80% of net assets in assets providing direct or indirect exposure to ether, primarily through a Cayman Islands subsidiary (Global X Ethereum Covered Call Subsidiary Limited). The strategy caps upside participation beyond the strike price of the written calls while providing downside exposure similar to owning the underlying Ether ETPs. Cash and equivalents, short-term U.S. Treasuries, and an affiliated T-Bill ETF are held alongside the options positions.

The Fund writes call options on all or a portion of its net assets to generate premium income, capping upside participation above the strike price of the written calls. Synthetic long exposure is achieved by buying call options and selling put options (or buying deep in-the-money calls) rather than holding the underlying ETPs outright. Both traditional exchange-traded options and FLEX options may be used, all guaranteed for settlement by the OCC.

NAV HISTORY · APR '26 – 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 entire current distribution of $0.1238 per share is classified as Return of Capital, with no Net Investment Income component. Year-to-date cumulative distributions of $1.6141 per share are also 100% Return of Capital. The fund estimates it has distributed more than its income, meaning this payout returns a portion of invested principal rather than reflecting investment earnings.

Distribution Growth by Lookback Period

Sector Mix · Tilt vs S&P 500

Price vs. Moving Averages

Liquidity

Estimated bid/ask spread ~0.00% (very tight). Average daily dollar volume ~$0.0M (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 ($)