Key Highlights

  • UYLD (ASX:UYLD) holds about 506 US companies and writes call options against an S&P 500 style portfolio.
  • Technology makes up 40.49% of the portfolio, with Nvidia, Apple and Microsoft the largest single exposures.
  • The annual yield is 10.29%, and management fees and costs are 0.60%.
  • The next interim ex-date is 3 November 2026.

Global X S&P 500 Covered Call Complex ETF (ASX:UYLD) traded at $10.55 during the trading session on 30 October 2026, down 0.28%, with 1,502 units changing hands. Investors buying UYLD are taking on a broad slice of US large-cap stock exposure, but with a twist: the fund sells call options over that portfolio, trading some upside for option premium. The strategy follows the Cboe S&P 500 BuyWrite index, and the fund was admitted to the ASX on 1 February 2023.

Fund Overview

UYLD aims to return, before fees and expenses, the results of the Cboe S&P 500 BuyWrite index. The fund carries a management fee and cost load of 0.60% and has an ISIN of AU0000251860. Fund size is $17.03 million, with 1,609,355 units on issue. The fund sits in the Equity World Other category.

Stock Exposure and Sector Mix

The portfolio spans 506 companies, but its weight is concentrated at the top. The ten largest holdings make up 39.51%. Nvidia is the largest at 8.47%, followed by Apple at 7.46%, Microsoft at 5.83%, Amazon at 3.75%, Alphabet's class A and class C shares at 3.09% and 2.47%, Broadcom at 2.56%, Meta at 2.45% and Micron at 1.84%.

Sector weightings lean heavily to technology at 40.49%. Financial services follows at 11.21%, then communication services at 9.93%, healthcare at 9.27% and consumer cyclical at 8.76%. Almost all exposure, 99.53%, sits in US-listed companies, and more than 98% of holdings are in businesses valued above $1 billion.

Income Profile

The annual yield is 10.29%. The fund's next interim distribution has an ex-date of 3 November 2026, a record date of 4 November and a payment date of 18 November 2026. Because income depends on option premium rather than dividends alone, the payout can move materially from one period to the next.

Session Trading

UYLD changed hands at a day range of $10.55 to $10.58 and an average daily volume of about 4,550 units. Its bid-offer range during the session was $10.55 to $10.56, a tight spread for a fund of this size.

How the Portfolio Is Built

The fund's exposure is built from two layers. The first is a portfolio of US large-cap shares, roughly modelled on the S&P 500 universe, with 506 holdings. The second is a call-writing overlay: the fund sells call options over the stock portfolio, which generates option premium that feeds the distributions. Because the calls cap the gains on the underlying shares, the exposure behaves most like the index in flat or modestly rising markets, and it gives up more of the upside when the largest names rally sharply.

For an investor, this means the stock exposure is real but its shape is different. Nvidia, Apple and Microsoft still drive most of the day-to-day movement, while the option income adds a second source of return that a plain index fund does not have.

Key Facts

The fund was admitted to the ASX on 1 February 2023 and is benchmarked to the CBOE S&P 500 BuyWrite TR USD index. Its ISIN is AU0000251860, and management fees and costs are 0.60% a year. Fund size is $17.03 million, with 1,609,355 units on issue.

What the Exposure Means

UYLD gives Australian investors access to the same US large-cap stocks as a standard S&P 500 product, but with a covered call layer that shifts the return profile toward income and away from full upside participation. Its exposure is heavily weighted to technology, which shapes how the fund behaves as the largest names move.