PUTX

ALPS Enhanced Put Write Strategy ETF
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  • Overview
  • Efficiency
  • Tradability
  • Fit

PUTX Fund Description

The ALPS Enhanced Put Write Strategy ETF writes put options on the S&P 500 with the aim of earning income primarily from option premiums. The fund does not track an index; its managers choose the options and manage the investment-grade collateral.

PUTX Factset Analytics Insight

Note: This fund is closed. Its last day of trading was June 24, 2016.

PUTX, launched on July 7, 2015, uses derivatives on the S&P 500 to earn income. The fund effectively sells volatility by trading full upside participation in the S&P 500 for options premiums, which can partially offset losses or drive returns in a range-bound market.

The actively managed ETF writes at-the-money puts, primarily on SPY, the massively popular S&P 500 ETF from State Street. The fund managers have leeway to hold S&P 500 stocks directly, and can also dabble in put and call spreads as they see fit. The managers also attempt to earn extra income from the collateral, using a very broad list of short-term, investment-grade sectors. Collateral treatment matters greatly for put-writes since the entire AUM of the fund is effectively held as “cash” collateral, in contrast with buy-writes, where the AUM is parked in the underlying stocks. PUTX pushes the collateral envelope by using something other than safe, but low-yielding, Treasurys.
The fund’s subadvisor also runs a sister put-write ETF, HVPW. HVPW plays it straight on collateral, but cherry-picks underlying stocks; namely, those with high volatility that command high premiums. ETFs like PUTX and HVPW can kick out a lot of yield, but be sure to check the total return of the strategy too.

  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
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PUTX Top 10 Countries

PUTX Top 10 Sectors

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PUTX Top 10 Holdings

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PUTX Summary Data

ALPS
07/07/15
Open-Ended Fund
0.75%
$2.52M
$174.2K
0.56%

PUTX Portfolio Data

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09/21/16
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PUTX Index Data

No Underlying Index
Proprietary
Proprietary
MSCI USA Large Cap

Related ETFs to PUTX

N/A
Total Return
  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max

PUTX Portfolio Management

0.75%
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PUTX Tax Exposures

20% / 39.6%
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Ordinary income
No

PUTX Fund Structure

Open-Ended Fund
No
No
no policy
N/A
N/A
Closing
Daily
Bats Book Viewer
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LAST 10 TRADES
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Bats BZX Real-time Quote - 13:40:35
Daily Spread
Premium/Discount
Volume

PUTX Factset Analytics Block Liquidity

As of 11/22/17
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of PUTX. PUTX is rated a N/A out of 5.

PUTX Tradability

6,999
$174.2K
901
$22.36K
0.56%
$0.14
0.1%
4.18% / -4.23%
None
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50,000
0.02
0.04%
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$25.18
N/A

PUTX Sector/Industry BreakdownView All

PUTX Top 10 HoldingsView All

PUTX Geographic Exposure

PUTXSegment Benchmark
100.00% --

PUTXSegment Benchmark
100.00% --
0.00% / 0.00% 0.00% / 0.00%

PUTX Performance Statistics

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MSCI USA Large Cap

PUTX BENCHMARK COMPARISON

    PUTX
    -- Holdings
    Segment Benchmark
    -- Constituents
    Shared Holdings
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PUTXSegment Benchmark
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