BALI and ETV are both covered call ETFs tracking the same benchmark, but with different approaches. BALI offers a 7.83% yield, while ETV provides a 7.99% yield. Compare their scores, yields, and performance metrics to find the best fit for your portfolio.
Compare covered call ETFs with the same benchmark side by side
iShares U.S. Large Cap Premium Income Active ETF
7.26
Overall Score
Eaton Vance Tax-Managed Buy-Write Opportunities
5.96
Overall Score
| Criteria | BALI | ETV |
|---|---|---|
| Overall Score | 7.26 5.96 | |
| Total Return (25%) | 9.07 5.09 | |
| Downside Protection (25%) | 3.93 3.71 | |
| Upside Participation (25%) | 8.88 7.82 | |
| Consistency (15%) | 7.19 9.89 | |
| Expense Ratio (5%) | 9.38 1.38 | |
| Liquidity (5%) | 4.90 4.98 |
Since Inception
3 Years
Pro only
1 Year
Pro only
3 Months
Pro only
| Metric | BALI | ETV |
|---|---|---|
| Expense Ratio | 0.350% | 0.890% |
| Inception Date | Oct 18, 2022 | Sep 30, 2005 |
| Issuer | BlackRock | Eaton Vance |
| Distribution Frequency | Monthly | Monthly |
| Maturity Rating | 3/5 stars | 5/5 stars |
Keeps 89% of S&P 500 upside for a 7.8% yield, but with 36 months of history and 80% down capture the downside protection is modest.
Investor Profile:
BALI is an actively managed BlackRock fund run by its Systematic Active Equity team (Robert Fisher, Travis Cooke, Raffaele Savi). It holds about 203 large-cap U.S. stocks, with technology at 36.8% of assets. It sells call options on a large-cap equity index to collect premium and pays monthly. Its benchmark is the S&P 500.
The call overlay costs upside (78% captured) without cushioning losses (95% down capture), and a 1.08% expense ratio adds to the drag.
Investor Profile:
ETV is a closed-end fund that holds two stock segments: one seeks to beat the S&P 500, the other the Nasdaq-100. It sells index call options continuously on at least 80% of each segment, with S&P 500 calls on the first and Nasdaq-100 calls on the second. The fund is tax-managed, uses no leverage, and pays monthly. Its shares trade at a discount to NAV of about 9%.
Both funds are scored on total return, downside protection, upside participation, distribution consistency, cost and liquidity, against the same benchmark and the same window.
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