BALI and PUTW are both covered call ETFs tracking the same benchmark, but with different approaches. BALI offers a 7.83% yield, while PUTW provides a n/a 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
WisdomTree PutWrite Strategy Fund
6.13
Overall Score
| Criteria | BALI | PUTW |
|---|---|---|
| Overall Score | 7.26 6.13 | |
| Total Return (25%) | 9.07 3.71 | |
| Downside Protection (25%) | 3.93 6.98 | |
| Upside Participation (25%) | 8.88 5.96 | |
| Consistency (15%) | 7.19 8.82 | |
| Expense Ratio (5%) | 9.38 7.00 | |
| Liquidity (5%) | 4.90 5.91 |
Since Inception
3 Years
Pro only
1 Year
Pro only
3 Months
Pro only
| Metric | BALI | PUTW |
|---|---|---|
| Expense Ratio | 0.350% | 0.440% |
| Inception Date | Oct 18, 2022 | Feb 24, 2016 |
| Issuer | BlackRock | WisdomTree |
| 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.
Put-writing delivered 61% of S&P 500 upside and 63% of the downside, and the April 2025 index change limits how far its history can be trusted.
Investor Profile:
Since April 4, 2025 the fund trades under the ticker WTPI and tracks the Volos US Large Cap Target 2.5% PutWrite Index. It sells put options on SPY and holds U.S. Treasury bills as collateral, 96% T-bills and 4% a Treasury floating-rate fund as of October 2026. The index replaced the earlier CBOE PUT index approach, so earlier history reflects a different strategy. It pays monthly.
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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