ARCX · Passive · options-income

Global X S&P 500 Risk Managed Income ETF

Global X Management Company LLC

Weighted score · 2.60 / 5

AUM

assets under mgmt

Avg Volume

shares · daily

Distribution

Monthly · 97% ROC

Expense Ratio

0.60% gross

1Y Return

vs underlying

Sharpe

Max DD -15.3%

The Global X S&P 500® Risk Managed Income ETF seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Cboe S&P 500 Risk Managed Income Index..

The Fund tracks the Cboe S&P 500 Risk Managed Income Index, which holds the constituent stocks of the S&P 500® Index and applies a monthly options collar strategy consisting of long 5% out-of-the-money put options and short at-the-money call options on the S&P 500® Index. The collar seeks to generate a net premium credit, providing downside protection below the put strike while capping upside participation above the call strike. The Fund generally uses a full replication approach to hold the underlying S&P 500® equities, while the options are cash-settled monthly.

On a monthly basis the Fund buys put options with a strike approximately 5% below the prevailing S&P 500® level and sells at-the-money call options corresponding to the full value of the equity portfolio. The collar is structured to generate a net premium credit (premium received from calls exceeds premium paid for puts). Options are exchange-traded, cash-settled, and held to expiration.

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 May 2026 distribution of $0.1801 per share is composed almost entirely of Return of Capital (96.64%), with only 3.36% from Net Investment Income. On a fiscal year-to-date basis, 95.49% of cumulative distributions have been classified as Return of Capital. The fund notes this does not necessarily reflect investment performance.

Distribution Growth by Lookback Period

Sector Mix · Tilt vs S&P 500

Price vs. Moving Averages

Bullish — 50-DMA above 200-DMA

Price $17.33 is above the 200-day SMA ($16.83); 50-day SMA $17.09. 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 ~0.19% (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 ($)