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ProShares S&P 500 High Income ETF

ISPY tracks an index pursuing a daily covered call writing strategy on the stocks of the S&P 500 Index. The fund seeks generate a high level of income combined with the performance returns of the S&P 500 Index over the long term.

ISPY's daily call options strategy offers superior upside potential compared to monthly options. Compared to other S&P 500 covered call funds, ISPY has one of the best balances of capital appreciation and yields with tax-efficient distributions and reasonable management expenses. Despite minimal downside protection and third-party risk, ISPY's predictable performance and sustainable distributions make it potentially the best S&P 500 covered call fund on the market.

ISPY: Daily Covered Calls Provide Superior Upsides Compared To Monthly

ISPY's daily call option strategy has outperformed traditional monthly covered call ETFs, showing an 11.24% gain and a 19.81% ROI in 2024. ISPY invests 80% in S&P 500 companies and uses daily call options, generating high income and closely mimicking market returns. Despite market risks, ISPY's strategy offers high-single digit yields, making it an attractive option for income-focused investors.

ISPY: A New Spin On Covered Call ETFs From ProShares Yielding Over 9%

The ProShares S&P 500 High Income ETF sells daily covered calls on the S&P 500 Index to generate high distribution yields for investors. ISPY has outperformed the more well-known JEPI ETF since its inception, as its use of daily call options effectively resets its performance cap daily, allowing ISPY to capture more upside. However, by the same token, the ISPY ETF should underperform in down markets, as it receives less option premium to cushion drawdowns.

ISPY: Daily Covered-Call Fund Outperforms In Rising Markets

JPMorgan Equity Premium Income ETF

ProShares S&P 500 High Income ETF (ISPY) offers enhanced income compared to SPDR S&P 500 ETF (SPY). That ETF is reviewed in detail. JPMorgan Equity Premium Income ETF (JEPI) would be considered a competitor and is well known. I also review this ETF. ISPY started in late 2023 and has outperformed JEPI so far in 2024. While a few months doesn't mean long-term outperformance, I still give the ISPY ETF a Buy rating.

ISPY Vs. JEPI For Large-Cap Exposure And Higher Income

ProShares S&P 500 High Income ETF uses covered call strategies to enhance yield and provide exposure to the S&P 500 Index. The ISPY fund has a yield of 3.46%, higher than the S&P 500 ETF's yield of 1.27%. ISPY may underperform in bull markets but can provide downside protection in a bear market.

ISPY: S&P 500 With A Covered Call Overlay (Through Swaps)

ProShares Short Ether Strategy ETF

ProShares launched the ProShares S&P 500 High Income ETF (ISPY) on the Cboe BZX Wednesday. With ISPY, investors can seek high income and target S&P 500 returns over the long term.

ProShares Launches Covered Call ETF ISPY

BETHESDA, Md.--(BUSINESS WIRE)--ProShares launched the ProShares S&P 500 High Income ETF (CBOE: ISPY), the first ETF powered by a daily call options strategy.

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