ARCX · Passive · options-income

Global X S&P 500 Covered Call ETF

Global X Management Company LLC

Weighted score · 3.70 / 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 -18.7%

The Global X S&P 500® Covered Call ETF seeks investment results that, before fees and expenses, generally correspond to the performance of the Cboe S&P 500 BuyWrite Index..

The Fund invests at least 80% of its total assets in the securities of the Cboe S&P 500 BuyWrite Index or investments with similar economic characteristics. The Underlying Index holds all S&P 500 equity securities in substantially similar weights and writes (sells) a single at-the-money call option on up to 100% of the S&P 500 Index on a monthly basis. The premiums received from writing covered calls provide income but cap upside participation when equity markets rally strongly. The Fund generally employs a representative sampling strategy to track the Underlying Index.

The Fund writes a single at-the-money call option on up to 100% of the S&P 500 Index on the monthly option writing date of the Underlying Index. Premiums received provide income and offer partial downside offset but limit upside participation in strongly rising markets. Options are cash-settled and traded on national options exchanges.

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 $0.4012 per share is composed almost entirely of Return of Capital (96.50%, or $0.3872), with only 3.50% ($0.0140) from Net Investment Income. On a fiscal year-to-date basis, 94.75% of cumulative distributions have been classified as Return of Capital, indicating the fund continues to distribute more than its earned income.

Distribution Growth by Lookback Period

Sector Mix · Tilt vs S&P 500

Price vs. Moving Averages

Bullish — 50-DMA above 200-DMA

Price $40.95 is above the 200-day SMA ($38.58); 50-day SMA $40.11. 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 ~0.09% (tight). Average daily dollar volume ~$28.9M (liquid). 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 ($)