Wick Capital Sells $4.9 Million of GPIX, According to Latest SEC Filing

First off, GPIX is a core income ETF. That means that the fund aims to derive significant income from core stock positions — in this case, S&P 500 stocks. However, simply passing on the dividends alone from those core holdings wouldn’t deliver much income. After all, the S&P 500 sports a modest dividend of around 1.1%. To boost the fund’s yield, GPIX employs a covered call strategy by selling call options against its core equity holdings. Consequently, the fund pays a much larger amount of dividends, resulting in a divided yield of 8.1%.

While this strategy is appealing for income-oriented investors, there are some trade-offs. For one, the fund’s covered call strategy means that investors give up some upside potential. If the stock market experiences a sharp bullish move, the fund will miss out on some of those gains. In point of fact, the fund has underperformed the S&P 500 over the last two years, generating a total return of 36% versus 39% for the benchmark index.

At any rate, income-seeking investors would still be wise to consider this ETF. Its hefty dividend yield, along with a competitive expense ratio of 0.29%, make it a viable choice for investors looking to combine S&P 500 stability with a significant income stream.

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Jake Lerch has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Vanguard Total Stock Market ETF. The Motley Fool has a disclosure policy.

Wick Capital Sells $4.9 Million of GPIX, According to Latest SEC Filing was originally published by The Motley Fool