Selling Calls on the S&P 500: How Global X UYLD (ASX:UYLD) Works

Sonal Goyal

28 October 2026 12:31 PM AEDT

Selling Calls on the S&P 500: How Global X UYLD (ASX:UYLD) Works

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Key Highlights

Global X S&P 500 Covered Call Complex ETF (ASX:UYLD) aims to track the Cboe S&P 500 BuyWrite Index.
The fund holds 506 holdings, with NVIDIA Corporation the largest position at 8.47%.
The fund has a management fee of 0.60% and a fund size of $16.96 million.

As of 27 October, Global X S&P 500 Covered Call Complex ETF (ASX:UYLD) holds 506 companies and manages $16.96 million. It has traded since 1 February 2023 and charges 0.60%.

Key Fact	Detail
Fund	Global X S&P 500 Covered Call Complex ETF
ASX code	UYLD
Issuer	Global X
Category	Equity World Other
Benchmark	CBOE S&P 500 BuyWrite TR USD
ISIN	AU0000251860
Admitted to the ASX	1 February 2023
Fund size	$16.96 million
Management fee	0.60%
Holdings	506 holdings
Latest distribution	Interim, $0.062 per unit (ex-date 2 Oct 2026; payment 19 Oct 2026)

The Buy-Write Approach

A buy-write index combines holding the S&P 500 stocks with selling call options on the index. UYLD aims to provide a return that, before fees and expenses, tracks the Cboe S&P 500 BuyWrite Index, and it is classified as a complex ETF benchmarked to the CBOE S&P 500 BuyWrite TR USD index.

The Stock Portfolio

The largest holdings are NVIDIA (8.47%), Apple (7.46%), Microsoft (5.83%) and Amazon (3.75%), and the top ten account for 39.51%. Technology is 40.49% of the portfolio, financial services 11.21% and communication services 9.93%, with the United States at 99.53%.

Further Portfolio Detail

By market capitalisation, 98.74% of the portfolio is in companies above $1 billion and 1.25% between $500 million and $1 billion.

Payment Timetable

Interim distribution details: $0.062 per unit, ex-date 2 October 2026, record date 5 October 2026, payment date 19 October 2026.

Announcements to Note

Lodgements with the ASX have included a final distribution announcement for September 2026 on 1 October, a distribution reinvestment plan announcement on 6 October, the appointment of Citigroup Pty Limited as fund service provider on 15 October 2026 and an annual financial report on 28 September 2026.

Where the Fund Sits

Global X S&P 500 Covered Call Complex ETF is classified as Equity World Other. Funds in this category are almost exclusively dedicated to global stocks, with less than 20% of the portfolio in assets other than equities. They may have a bias towards style and size characteristics, or be defined by a single sector or country exposure.

Index and Track Record Length

The fund has been listed since 1 February 2023, a period of about 4 years. Its stated benchmark is the CBOE S&P 500 BuyWrite TR USD index, and the issuer is Global X (ISIN AU0000251860). It charges a management fee of 0.60%.

How Concentrated Is the Portfolio?

Looking at the biggest weights, NVIDIA Corporation stands at 8.47% and the top five holdings combine for 28.60%.

What the Dates Mean

Three dates matter for each distribution: the ex-date, after which new buyers do not qualify for the payment; the record date, when entitlements are set from the register; and the payment date, when the money is paid.

Wrapping Up

UYLD combines S&P 500 shares with covered call selling in a complex ETF. The latest distribution was an interim payment of $0.062 per unit on 19 October 2026.

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