ARCX · Active · options-income

State Street Health Care Select Sector SPDR Premium Income ETF

SSGA Funds Management, Inc. (State Street)

Weighted score · 4.00 / 5

AUM

assets under mgmt

Avg Volume

shares · daily

Distribution

Monthly · — ROC

Expense Ratio

0.35% gross

1Y Return

vs underlying

Sharpe

Max DD -8.1%

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 Health Care company securities (directly or indirectly through the State Street Health Care Select Sector SPDR ETF) and investments that produce premium income. It achieves its objective by (1) investing in shares of the Underlying Select Sector Fund, which tracks the Health Care Select Sector Index, and (2) systematically selling (writing) call options on that Underlying Select Sector Fund to generate additional income. Call options typically have expirations of less than one year (approximately one to two months), and the Adviser rolls short options positions before expiration based on market and liquidity conditions. The Fund may also invest directly in Health Care equities and use futures contracts for investment purposes.

The Fund systematically sells (writes) call option contracts with expirations of less than one year (typically approximately one to two months) on the Underlying Select Sector Fund to generate incremental premium income. Listed Options or FLEX Options may be utilized, and strike prices are set based on option delta to balance income generation with potential for price appreciation. The Adviser rolls short options positions before expiration taking into consideration 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. 0% — the fund is covering its payout without eroding NAV.

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 for tax purposes. Frequent selling of call options may result in increased distributions, including potentially increased distributions taxable as ordinary income.

Distribution Growth by Lookback Period

Sector Mix · Tilt vs S&P 500

Price vs. Moving Averages

Bullish — 50-DMA above 200-DMA

Price $25.18 is above the 200-day SMA ($24.52); 50-day SMA $24.79. 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 ~$0.4M (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 ($)