ARCX · Active · options-income

State Street Utilities Select Sector SPDR Premium Income ETF

SSGA Funds Management, Inc. (State Street)

Weighted score · 3.60 / 5

AUM

assets under mgmt

Avg Volume

shares · daily

Distribution

Monthly · — ROC

Expense Ratio

0.35% gross

1Y Return

vs underlying

Sharpe

Max DD -6.0%

The Fund seeks to provide current income while maintaining prospects for long term growth of capital..

The Fund invests at least 80% of its net assets in a combination of securities of Utilities companies and investments that produce premium income. It achieves this by investing in shares of the State Street Utilities Select Sector SPDR ETF (the Underlying Select Sector Fund) and systematically selling (writing) call options on that Underlying Select Sector Fund to generate additional income. Call options sold typically have expirations of less than one year (approximately one to two months), and the Fund uses delta-based strike price setting to balance income generation with potential for price appreciation. The Fund may also invest directly in Utilities equity securities and use futures contracts.

The Fund systematically sells (writes) call option contracts with expirations typically of approximately one to two months, using either listed options or FLEX Options. Strike prices are set based on option delta to balance premium income with upside participation. The Adviser typically rolls short options positions before expiration based on market and liquidity conditions.

NAV HISTORY · JUL '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 Fund intends to make distributions that may be taxed as ordinary income, qualified dividend income, and/or capital gains. Some distributions may be treated as a return of capital. Frequent selling of call options may result in increased distributions taxable as ordinary income. Certain capital gain dividends attributable to U.S. REITs may be taxable at rates other than generally applicable reduced rates.

Distribution Growth by Lookback Period

Sector Mix · Tilt vs S&P 500

Price vs. Moving Averages

Bullish — 50-DMA above 200-DMA

Price $24.26 is above the 200-day SMA ($23.45); 50-day SMA $24.20. 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

Estimated bid/ask spread ~0.17% (moderate). Average daily dollar volume ~$0.6M (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 ($)