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About iShares Trust iShares High Yield Corporate Bond BuyWrite Strategy ETF
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Inception date
Aug 18, 2022
Structure
Open-Ended Fund
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
BlackRock Fund Advisors
Distributor
BlackRock Investments LLC
HYGW teaches an old dog a new trick. The fund holds shares of the iShares High Yield Corporate Bond ETF (ticker: HYG), one of the first bond ETFs offered in the US, and writes (sells) one-month covered call options. The objective is to provide additional income, in the form of option premium, along with the distributions received from the underlying bond portfolio. The fund will write call options up to the full amount of the shares being held in the portfolio. In doing so, the fund takes in option premium but forgoes the upside potential on the bonds at the strike price. The fund uses European-style options, which means the call options can only be exercised on the expiration date. This helps to roll the call options and reduces the chance the fund must physically deliver underlying shares. This strategy may outperform in periods of rising rates and widening credit spreads. In periods of declining rates, the fund will likely underperform as compared to just holding high yield bonds.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
ETF
Bonds, Cash & Other100.00%
ETF98.99%
Cash1.01%
Stock breakdown by region
North America100.00%
Latin America0.00%
Europe0.00%
Asia0.00%
Africa0.00%
Middle East0.00%
Oceania0.00%
Top 10 holdings
Dividends
Dividend payout history
Assets under management (AUM)
Fund Flows
Frequently Asked Questions
HYGW last dividends amounted to 0.56 USD. The month before, the issuer paid 0.35 USD in dividends, which shows a 37.36% increase.
HYGW assets under management is 221.13 M USD. It's risen 2.67% over the last month.
HYGW fund flows account for 173.60 M USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
Yes, HYGW pays dividends to its holders with the dividend yield of 12.52%. The last dividend (May 7, 2025) amounted to 0.56 USD. The dividends are paid monthly.
HYGW shares are issued by BlackRock, Inc. under the brand iShares. The ETF was launched on Aug 18, 2022, and its management style is Passive.
HYGW expense ratio is 0.69% meaning you'd have to pay 0.69% of your investment to help manage the fund.
HYGW follows the Cboe HYG BuyWrite Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
HYGW invests in funds.
HYGW price has fallen by −1.42% over the last month, and its yearly performance shows a −7.03% decrease. See more dynamics on HYGW price chart.
NAV returns, another gauge of an ETF dynamics, showed a −0.34% decrease in three-month performance and has increased by 4.51% in a year.
NAV returns, another gauge of an ETF dynamics, showed a −0.34% decrease in three-month performance and has increased by 4.51% in a year.
HYGW trades at a premium (0.14%) meaning the ETF is trading at a higher price than the calculated NAV.