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HYGW iShares High Yield Corporate Bond BuyWrite Strategy ETF

Covered call on SPY, paying monthly

Over the year to Sep 11, 2026, HYGW paid 10.0% in cash and still finished 13.0 points behind SPY.

iShares · Income ETFs · data as of

Key facts

10.0%Cash paid, 1 year, on its starting price
+4.5%Total return, 1 year
−13.0 ptsAgainst SPY
7.5%Latest payout, annualized

Method

ETFIQ Return Stability Score

28.4133rd of 162

HYGW paid 10.0% in cash. Its price fell 5.6%, so 56% of what you were paid came back out of your own capital.

Was the payout funded by returns, or by your own capital?

Against its benchmark
MLPD −38.1 ptsMDST −30.2 ptsSLTY −29.1 ptsBLOX −27.8 ptsEIPI −27.8 ptsYQQQ −27.6 ptsULTY −23.3 ptsGDXY −22.0 ptsHIGH −20.8 ptsTOPW −18.6 ptsTDVI −18.3 ptsYMAX −18.1 ptsHISF −17.3 ptsACKY −17.2 ptsRMIF −17.2 ptsWEEI −16.9 ptsNDIV −16.6 ptsLQDW −16.2 ptsOARK −15.8 ptsFDND −15.5 ptsTCAL −15.0 ptsQRMI −14.8 ptsSDVD −14.8 ptsLFGY −14.5 ptsSLJY −14.5 ptsSCLZ −14.1 ptsYFYA −13.9 ptsQUSA −13.5 ptsJULH −13.0 ptsXLRI −13.0 ptsMAGY −12.9 ptsYYY −12.7 ptsXLKI −12.6 ptsJULJ −12.4 ptsLJUL −12.4 ptsJANJ −12.3 ptsLJAN −12.3 ptsFGSI −12.2 ptsLOCT −12.1 ptsRNTY −12.1 ptsAIPI −12.0 ptsIWMY −12.0 ptsOCTJ −11.9 ptsHIPS −11.7 ptsJUCY −11.6 ptsXLEI −11.6 ptsAPRJ −11.3 ptsLAPR −11.3 ptsXISE −11.3 ptsXIJN −11.1 ptsCVRD −11.0 ptsJANH −11.0 ptsAPRH −10.9 ptsXBTY −10.7 ptsXIDE −10.7 ptsOCTH −10.6 ptsJEPI −10.3 ptsXIMR −10.1 ptsSRHR −9.7 ptsXRMI −8.7 ptsVEGA −8.3 ptsBUYW −8.2 ptsIAUI −7.9 ptsBAGY −7.7 ptsXV −7.5 ptsKHPI −7.3 ptsYBTC −7.3 ptsFTHI −7.0 ptsYLDE −6.8 ptsIGLD −6.1 ptsQQQI −6.1 ptsRDVI −6.0 ptsSPIN −5.9 ptsFEPI −5.8 ptsIWMW −5.8 ptsTYLG −5.7 ptsBITY −5.6 ptsSPUT −5.4 ptsWTPI −5.2 ptsPAPI −4.7 ptsXLVI −4.7 ptsETCO −4.3 ptsJEPQ −4.1 ptsCAIE −4.0 ptsFTKI −3.9 ptsGPTY −3.7 ptsIQQQ −3.7 ptsGIAX −3.4 ptsBIGY −3.3 ptsISPY −3.1 ptsRYLD −3.1 ptsWEEL −2.9 ptsYMAG −2.9 ptsRDTY −2.6 ptsXLBI −2.5 ptsNBOS −1.8 ptsRYLG −1.8 ptsSPYI −1.7 ptsFTQI −1.6 ptsKNG −1.6 ptsTSPY −1.6 ptsTHTA −1.5 ptsQQQY −1.3 ptsRDTE −1.3 ptsDIVO −1.2 ptsSIXH −1.2 ptsXYLD −1.2 ptsDFII −1.1 ptsGPIQ −1.1 ptsQDTY −1.1 ptsXYLG −1.1 ptsXDTE −0.9 ptsQDTE −0.7 ptsQYLD −0.7 ptsXLII −0.7 ptsXPAY −0.7 ptsEGGY −0.6 ptsJOYT −0.6 ptsSDTY −0.6 ptsWDTE −0.4 ptsBTCC −0.3 ptsQYLG −0.3 ptsGPIX 0.0 ptsDJIA +0.1 ptsDYLG +0.3 ptsIWMI +0.3 ptsKGLD +0.3 ptsXLFI +0.3 ptsIVVW +0.4 ptsLTTI +0.5 ptsLQTI +0.6 ptsPBP +0.6 ptsHYTI +0.9 ptsTDAQ +0.9 ptsCSHI +1.3 ptsBALI +1.4 ptsYETH +1.5 ptsHYBL +1.6 ptsXLUI +1.6 ptsCHPY +1.9 ptsBTCI +2.1 ptsSOXY +2.3 ptsITWO +2.5 ptsDOGG +2.7 ptsCEPI +2.9 ptsXLYI +2.9 ptsYBIT +2.9 ptsTLTP +3.4 ptsDUBS +4.0 ptsSEPI +4.7 ptsXLCI +5.2 ptsIDVO +5.4 ptsTLTW +5.4 ptsBCCC +6.3 ptsOMAH +6.5 ptsIDUB +6.9 ptsXLSI +8.8 ptsUSOY +10.5 ptsBUCK +10.9 ptsKLIP +20.9 ptsNVYY +24.6 ptsHYGW −13.0 ptsHYGW −13.0 pts−38.1 pts+24.6 pts

18.8% of the 162 sit at or below HYGW on this measure.

What happened to the principal
ETCO −75.0%XBTY −74.7%YETH −67.4%YBTC −61.4%BTCC −59.9%YBIT −58.9%BAGY −58.0%SLTY −54.4%ULTY −53.3%NVYY −52.4%BITY −51.9%BCCC −49.4%BTCI −46.9%DFII −44.8%LFGY −43.0%YMAX −41.0%BLOX −38.8%TOPW −36.6%OARK −33.3%KLIP −32.8%GDXY −32.5%YMAG −27.1%YQQQ −26.3%MAGY −25.8%IWMY −23.1%CEPI −21.0%RDTY −19.9%RDTE −19.4%QDTE −18.5%EGGY −15.1%TLTP −14.5%XLYI −14.1%LTTI −13.8%ACKY −13.7%WDTE −13.7%QQQY −13.0%QDTY −12.8%XDTE −12.8%AIPI −12.2%QUSA −11.8%LQTI −10.4%TLTW −10.3%SDTY −9.9%GIAX −9.8%XLUI −9.5%HIGH −9.3%LQDW −9.3%TCAL −9.0%FEPI −8.5%XV −8.4%IGLD −8.1%XLRI −8.0%XLCI −7.9%FDND −7.6%YYY −7.5%XLSI −7.3%RNTY −6.5%HYTI −6.3%GPTY −6.0%OMAH −6.0%XLBI −5.7%IWMW −5.3%HIPS −5.2%XPAY −4.9%HISF −4.7%QRMI −4.2%USOY −4.0%RMIF −3.9%XLFI −3.8%FGSI −3.2%BUCK −2.5%HYBL −2.5%JUCY −2.3%XRMI −2.3%MLPD −1.7%CAIE −1.6%IAUI −1.6%YFYA −1.6%IVVW −1.4%CVRD −1.3%JEPI −1.1%KNG −0.9%XIJN −0.7%JULJ −0.6%WTPI −0.5%CSHI −0.4%JULH −0.3%LJUL −0.2%XISE 0.0%JANH +0.1%JANJ +0.1%LAPR +0.1%LOCT +0.1%LJAN +0.2%OCTJ +0.2%XLII +0.2%APRJ +0.3%OCTH +0.3%XIDE +0.3%XIMR +0.4%APRH +0.5%TSPY +0.6%KHPI +0.7%BIGY +0.8%WEEL +0.9%SRHR +1.0%FTHI +1.1%QQQI +1.5%XLVI +2.1%SPYI +2.6%QYLG +2.8%YLDE +2.8%BUYW +2.9%SDVD +3.0%XYLG +3.4%KGLD +3.8%THTA +3.9%DJIA +4.2%FTKI +4.3%SCLZ +4.4%PAPI +4.5%RYLD +4.7%XLKI +5.0%PBP +5.1%IWMI +5.3%DYLG +5.4%TDAQ +5.9%XYLD +5.9%JEPQ +6.0%SPIN +6.1%NBOS +6.5%SPUT +6.5%RYLG +7.1%GPIX +7.9%FTQI +8.0%DOGG +8.2%ISPY +8.4%QYLD +8.4%DIVO +8.9%MDST +9.3%VEGA +9.4%BALI +9.5%GPIQ +9.8%SLJY +11.0%RDVI +11.7%TDVI +11.7%IQQQ +12.3%SEPI +13.8%XLEI +13.8%SIXH +14.1%ITWO +14.3%EIPI +14.6%JOYT +16.1%IDVO +16.4%DUBS +18.9%WEEI +18.9%IDUB +19.0%TYLG +21.2%NDIV +22.9%CHPY +24.9%SOXY +68.6%HYGW −5.6%HYGW −5.6%−75.0%+68.6%

38% of the 162 sit at or below HYGW on this measure.

Weighted evenly, those two positions are what the score combines, across the 162 income ETFs writing on an index or proxy. Neither spread above is the score: a fund can sit further right on one and score lower. A position in this set, not a rating: it moves when the set moves, and it is not a figure to average against another desk's.

What the score is computed from
What it measuresThis fundIts percentileWeight
against its benchmark−13.0 pts18.850%
what happened to the principal−5.6%3850%

All income ETFs ranked by this score · How it is computed

56th of 71 income ETFs writing on SPY, by return against it

What a holder got

HYGW against SPYHYGW returned +4.5% with distributions reinvested against +17.5% for S&P 500 (SPY), used as a default proxy, a gap of −13.0 pts. Of that, 10.0% arrived as cash rather than price.+4.5%HYGW total return+17.5%S&P 500 (SPY), used as a default proxy10.0% of it arrived as cash

Over the year to Sep 11, 2026, HYGW returned +4.5% with distributions reinvested and S&P 500 (SPY), used as a default proxy returned +17.5%, so a holder came out behind it by 13.0 points. The lighter segment is the 10.0% that arrived as cash rather than as price.

Method

Period by period

HYGW over each window to Sep 11, 2026. Every figure is an ETFIQ calculation. Source: ETFIQ.
WindowCash paidPriceTotal returnSPYAhead or behind
3 months1.9%−1.5%+0.4%+3.3%−2.9 pts
6 months5.4%−2.4%+3.0%+16.0%−13.0 pts
1 year10.0%−5.6%+4.5%+17.5%−13.0 pts
3 years32.1%−18.1%+16.7%+77.9%−61.1 pts
Since launch45.9%−27.7%+24.5%+95.1%−70.5 pts

Method

When HYGW pays

HYGW pays monthly. The last distribution was $0.1792 a share, which went ex on Sep 2, 2026, with payment about 2 days later. The next has not been declared. On its own cadence of about 30 days the ex-date falls near Oct 2, 2026; that date is an ETFIQ projection, not the issuer’s.

Expected distributions for HYGW. Where the basis is a projection, ETFIQ has carried the fund’s own spacing forward from its last ex-date and held the amount at the last one paid; neither is an issuer statement. Source: ETFIQ.
Ex-datePay dateAmountBasis
Oct 2, 2026Oct 5, 2026$0.1792ETFIQ projection from the fund’s own cadence
Every distribution ETFIQ holds for HYGW (13, most recent first)
Cash distributions per share for HYGW. Source: ETFIQ from Tiingo end-of-day distributions.
Ex-dateAmount
Sep 2, 2026$0.1792
Aug 4, 2026$0.1929
Jul 2, 2026$0.1722
Jun 2, 2026$0.2302
May 4, 2026$0.3301
Apr 2, 2026$0.4717
Mar 3, 2026$0.189
Feb 3, 2026$0.2198
Dec 23, 2025$0.2374
Dec 2, 2025$0.24
Nov 4, 2025$0.2813
Oct 2, 2025$0.268
Sep 3, 2025$0.1596

Every income ETF going ex-dividend in the next fortnight

Method

In plain words

Since it launched on Aug 22, 2022, HYGW has returned +24.5% with distributions reinvested, against +95.1% for S&P 500 (SPY), used as a default proxy, and has paid out 45.9% of its starting value in cash along the way. It pays monthly, and at its current price the latest distribution annualizes to 7.5%. No Rule 19a-1 notice has been published for this fund, so there is no issuer estimate of how much of its distributions was a return of capital.

HYGW (iShares High Yield Corporate Bond BuyWrite Strategy ETF), income ETFs fields as of Sep 11, 2026. Source: ETFIQ.
Strategycovered call
BenchmarkS&P 500 (SPY), used as a default proxy (proxy)
Paysmonthly
Net assets (source, as filed for Apr 30, 2026)$108m
Latest payout, annualized (ETFIQ)7.5%
Expense rationot read by ETFIQ
Cash paid, last 12 months, over today’s price (ETFIQ)10.6%
LaunchedAug 22, 2022
Paysmonthly
Typical gap between ex-dates30 days
Typical wait from ex-date to payment2 days
Last paid, per share$0.1792 ex Sep 2, 2026
Sum of the last 12 distributions$3.0117

Every figure is an ETFIQ calculation from exchange prices and cash distributions (Tiingo end-of-day), total return with distributions reinvested. Return of capital is the issuer’s estimate. How these figures are computed

Questions people ask

How much has HYGW paid over the last year?
Over the year to Sep 11, 2026, HYGW paid 10.0% of its starting price in cash distributions, while the price fell 5.6%.
Is HYGW ahead of SPY?
Over the year to Sep 11, 2026, with every distribution reinvested, HYGW returned +4.5% against +17.5% for S&P 500 (SPY), used as a default proxy, so a holder was behind it by 13.0 points.
How often does HYGW pay, and how much?
HYGW pays monthly. The latest distribution annualizes to 7.5% at its price on Sep 11, 2026, which is not a promise; the next one can differ.
When does HYGW next pay a distribution?
HYGW pays monthly. The last distribution went ex on Sep 2, 2026 at $0.1792 a share. The next is not declared; on a cadence of about 30 days the ex-date falls near Oct 2, 2026, which is an ETFIQ projection. Payment usually follows the ex-date by 2 days.

The words on this page

Total return
What a holder actually ended up with: price change plus every distribution, reinvested. The only figure that answers whether you came out ahead.
Cash paid
Distributions over the window as a share of what the fund cost at the start. A measure of cash delivered, not of return: a fund can pay a great deal and still lose money.
Ahead or behind
The fund’s total return minus the benchmark’s over exactly the same days, in percentage points. Both sides reinvest.
Return of capital
The issuer’s own estimate, in a Rule 19a-1 notice, of how much of a distribution was your own money returned. An estimate and a tax characterization, not a measure of erosion.
Covered call
Selling call options on shares the fund holds. It collects a premium and gives up the gains above the strike, which is why these funds pay well and lag a rising market.

Every term used here, defined in full on the income ETFs vocabulary page.

Where these figures came from

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.

Funds near this one

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HYGW payout bar, ETFIQ

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Where HYGW is written about

HYGW, Income ETFs, ETFIQ, data as of Sep 11, 2026. Every figure is arithmetic on a named public source; the method is at etfiq.com/methodology. ETFIQ is an independent publisher, is not a fund issuer, broker-dealer or investment adviser, and makes no recommendations.
Use this data, or open the live card

Open HYGW live on ETFIQ, where the figures refresh with the data.

Cite this page. ETFIQ, HYGW, income ETFs, data as of Sep 11, 2026. https://etfiq.com/funds/HYGW Free to use with attribution; the underlying files are at Open data.

How these figures are computed · Standards and sources