MLPD
Global X MLP & Energy Infrastructure Covered Call ETF
2026-07-09
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ARCX · Passive · options-income
MLPD
Global X MLP & Energy Infrastructure Covered Call ETF
Global X Management Company LLC
Verdict
WATCH
Weighted score · 4.00 / 5
AUM
$16M
assets under mgmt
Avg Volume
12K
shares · daily
Distribution
13.5%
Monthly · 0% ROC
Expense Ratio
0.60%
0.60% gross
1Y Return
—
vs underlying
Sharpe
0.76
Max DD -12.9%
Fund Identity
What it is, who runs it, where it lives.
The Global X MLP & Energy Infrastructure Covered Call ETF seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Cboe MLPX ATM BuyWrite Index..
The Fund tracks the Cboe MLPX ATM BuyWrite Index by holding the Global X MLP & Energy Infrastructure ETF (Reference Fund) and writing (selling) a succession of one-month at-the-money FLEX covered call options on the Reference Fund, covering approximately 100% of the Reference Fund's value. Options are rolled monthly on the business day prior to standard monthly listed option expiry. The strategy generates premium income but caps upside participation when the Reference Fund appreciates above the strike price. The Reference Fund itself invests in U.S. midstream MLP and energy infrastructure equities concentrated in the oil, gas and consumable fuels industry.
Ticker
MLPD
Issuer
Global X Management Company LLC
Exchange
ARCX
Inception
2024-05-08 · 2.1 yrs
Mgmt style
Passive
Replication
Physical (full replication) of Underlying Index constituents (Reference Fund equity + written FLEX call options)
Index-based
true · Cboe MLPX ATM BuyWrite Index
Leverage
None
Strategy & Options Mechanics
How the portfolio is built and where the income comes from.
PORTFOLIO
Hybrid
indexed
OPTIONS OVERLAY
Strategy
Covered Calls (CC) — monthly at-the-money FLEX call options written on the Reference Fund
generates income
Underlying
Global X MLP & Energy Infrastructure ETF (MLPA)
income exposure
MONTHLY
13.5%
DIST. RATE
0% ROC
Ordinary Income
Underlying
Global X MLP & Energy Infrastructure ETF (MLPA)
Strategy
Covered Calls (CC) — monthly at-the-money FLEX call options written on the Reference Fund
Tax
Ordinary Income
The Fund writes one-month at-the-money FLEX covered call options corresponding to approximately 100% of the value of the Reference Fund on a monthly roll cycle. Options are liquidated one day prior to expiration and new positions are opened at the VWAP-based strike price. Premiums received partially offset declines in the Reference Fund but cap gains when the Reference Fund rises above the strike price.
Performance & NAV
Total return vs. the underlying, with drawdown context.
NAV HISTORY · JUN '25 – JUN '26
max DD -12.9% $24.95
JUN '25JUN '26
Max DD
-12.9%
Volatility
11.4%
Sharpe
0.76
Sortino
1.00
Calmar
1.09
Beta
—
Flat-NAV reinvestment hurdle
0.6%
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.
1Y vs Underlying
—
Tracking err.
—
Yield on cost
13.5%
Distribution & Tax
Where the yield comes from — and how it’s taxed.
Composition · Recent Distribution
0%
ROC
Return of Capital0%
Net Investment Income100%
Frequency
Monthly
Dist. rate
13.49%
ROC %
0%
30-day SEC
not reported
Consistency
2 w/o cut
YOC · 1yr-ago buyer
13.5%
Tax Treatment — Ordinary Income
ORDINARY INCOME
Distribution Composition (Recent)
0% Return of Capital
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 May 2026 distribution of $0.2572 per share is composed entirely of net investment income (100%), with no return of capital in the current period. However, on a fiscal year-to-date basis, 74.08% of cumulative distributions ($1.1907 of $1.6072 per share) represent return of capital, reflecting that the fund has distributed more than its income over the year to date.
Distribution Growth & Schedule
Per-period growth of the payout, the latest schedule, and how long distributions take to repay NAV.
Distribution Growth by Lookback Period
+27.1% 1M -0.0% 3M +15.3% 6M +4.9% 1Y
Latest Distribution Schedule
Record date
2026-05-18
Ex-dividend
2026-05-18
Pay date
—
Payback Period
7.4 yr
Dist. Since Incep.
$6.3
Holdings & Concentration
Position sizing, top-name weights, and concentration risk.
Sector Mix · Tilt vs S&P 500
No sector feed for this fund.
Holdings
4
Top-10 Wt.
—
Technical Signal & Liquidity
Moving-average posture and a read on tradability.
Price vs. Moving Averages
$25.5$24.0$22.5$21.1
JUN '25JUN '26
Price $24.95
50-DMA $25.01
200-DMA $24.10
Bullish — 50-DMA above 200-DMA
Price $24.95 is above the 200-day SMA ($24.10); 50-day SMA $25.01. The 50-day SMA sits above the 200-day — an established uptrend, no recent crossover. Moving-average signals are a timing aid, not a recommendation — weigh them against the distribution profile and framework score.
Liquidity
Avg daily volume
12K
Avg dollar volume
$290,612
Bid/ask spread
1.00%
Premium/discount
-0.04%
Turnover
16%
Estimated bid/ask spread ~0.36% (moderate). Average daily dollar volume ~$0.3M (thin). This spread is a high-low estimate, not a live quote; the issuer's reported median spread and premium/discount to NAV are shown above when available.
Assets Under Management
Trend: Falling. Source: shares×price (Massive, monthly).
AUM ($)
$16M
$29M$16M$3M
JUN '24JUN '26
SOURCES  Massive market-data API, SEC EDGAR filings, issuer disclosures.
MLPD · 2026-06-22
Prepared by denvereyon
Research aid, not investment advice.