Global X launches S&P 500 covered call ETF

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Global X ETFs has launched the S&P 500 Covered Call UCITS ETF (XYLU).

Through writing call options on a basket of equities while also holding the underlying assets, the firm said the fund limits full upside participation in the S&P 500 but can still generate steady income during turbulent periods. Global X said the fund may help diversify income portfolios, providing income through means other than traditional sources such as dividend stocks. European ETFs suffer 28% drop in inflows in Q2 2023 The fund launched on the London Stock Exchange and Deutsche Börse Xetra with a total expense ratio of 0.45%. "The US market is at a crossroads as the US Fed...