BALI and ISPY are both covered call ETFs tracking the same benchmark, but with different approaches. BALI offers a 7.83% yield, while ISPY provides a 5.26% 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
ProShares S&P 500 High Income ETF
5.61
Overall Score
| Criteria | BALI | ISPY |
|---|---|---|
| Overall Score | 7.26 5.61 | |
| Total Return (25%) | 9.07 7.63 | |
| Downside Protection (25%) | 3.93 — | |
| Upside Participation (25%) | 8.88 8.95 | |
| Consistency (15%) | 7.19 6.00 | |
| Expense Ratio (5%) | 9.38 5.62 | |
| Liquidity (5%) | 4.90 5.74 |
Since Inception
3 Years
Pro only
1 Year
Pro only
3 Months
Pro only
| Metric | BALI | ISPY |
|---|---|---|
| Expense Ratio | 0.350% | 0.550% |
| Inception Date | Oct 18, 2022 | Mar 22, 2023 |
| Issuer | BlackRock | ProShares |
| Distribution Frequency | Monthly | Monthly |
| Maturity Rating | 3/5 stars | 2/5 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.
Daily calls leave 89% of S&P 500 upside but 111% of the downside, for a 5.3% yield.
Investor Profile:
ISPY holds 514 S&P 500 stocks and describes its approach as a covered call strategy using daily options. It aims for monthly income and long-term returns in line with the S&P 500, and its page compares it with the S&P 500 Daily Covered Call Index. The page does not say whether the options are on an index or an ETF, or how much of the portfolio is covered.
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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