ETF Evaluator:
Main BuyWrite ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Derivative Income Over the Last Year
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Risk
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ETF Details
Main BuyWrite ETF Overview
Main BuyWrite ETF (BUYW) is an actively managed Nontraditional Equity Derivative Income exchange-traded fund (ETF). Main Management ETFs launched the ETF in 2015.
The investment seeks to provide total return, from current income and gains from long-term capital appreciation.
The fund invests in domestic and international exchange-traded funds (ETFs) to provide investors with sustained exposure to domestic and foreign equity markets over time. The fund also uses the Adviser’s “BuyWrite” strategy, an investment strategy of writing (selling) call options on a security owned by the fund to generate additional returns from the option premium. The fund also seeks returns by writing (selling) secured put options.
About Main BuyWrite ETF (BUYW)
There are 5 members of the management team with an average tenure of 8.79 years: Kim Arthur (2015), James Concidine (2015), J. Richard Fredericks (2015), Alex Varner (2015) and Darol Ryan (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 100%. Main BuyWrite ETF has 19 securities in its portfolio. The top 10 holdings constitute 122.3% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Main BuyWrite ETF is part of the Equity global asset class and is within the Nontraditional Equity ETF group. Main BuyWrite ETF has 0.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 96.7% There is 0.7% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 1.4% (1.4% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Main BuyWrite ETF has 1.3% of the portfolio in cash.
Assets Under Management
The fund has $1 billion in total assets, which is above the $727 million average for the Derivative Income category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
BUYW Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Main BuyWrite ETF expense ratio is high compared to funds in the Derivative Income category. Main BuyWrite ETF has an expense ratio of 0.99%, which is 19% higher than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Main BuyWrite ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 69% for the Derivative Income category.
Recently, in the month of July 2026, Main BuyWrite ETF returned 0.9%, which earned it a grade of B, as the Derivative Income category had an average return of -1.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Main BuyWrite ETF has a trailing yield of 5.92%, which is below the 19.96% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Main BuyWrite ETF Grades
Year to date, the ETF has returned 5.2%, 2.6 percentage points better than the category, which translates into a grade of C. The fund has returned 9.1% over the past year (grade of D), 8.8% over the past three years (grade of D) and 8.0% per year over the past five years (grade of D) and 6.4% per year over the past 10 years (grade of F).
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BUYW Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| BUYW Return (NAV) | 0.9% | 2.4% | 9.1% | 8.8% | 8.0% | 6.4% |
| BUYW Return (Price) | 0.8% | 2.2% | 8.8% | 8.7% | 8.0% | 6.4% |
| NAV +/- Price Return | 0.072% | 0.216% | 0.238% | 0.116% | 0.006% | 0.003% |
| Derivative Income Avg | -1.5% | 0.6% | 11.2% | 13.7% | 8.8% | 7.5% |
| BUYW Grade (NAV) | B | C | D | D | D | F |
| +/- Category (NAV) | 2.4% | 1.8% | -2.2% | -4.9% | -0.8% | -1.1% |
| BUYW Tax-Cost Ratio | na | na | 2.3% | 2.4% | 1.7% | 1.0% |
BUYW Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BUYW Return (NAV) | 5.2% | 8.8% | 10.4% | 12.0% | 1.0% | 9.8% | 3.3% | 13.0% | -7.6% | 8.6% | 2.0% |
| BUYW Return (Price) | 4.8% | 9.1% | 9.8% | 12.8% | 0.8% | 9.8% | 3.3% | 13.0% | -7.6% | 8.6% | 2.0% |
| NAV +/- Price Ret | -0.072% | 0.034% | -0.056% | 0.070% | -0.161% | 0.000% | 0.000% | 0.0% | 0.0% | 0.0% | 0.0% |
| Derivative Income Avg | 2.6% | 10.6% | 18.5% | 17.5% | -11.3% | 19.4% | 1.4% | 19.2% | -7.1% | 12.1% | 8.7% |
| BUYW Grade (NAV) | C | D | D | D | A | F | C | F | D | F | F |
| +/- Category | 2.6% | -1.8% | -8.1% | -5.5% | 12.3% | -9.6% | 1.9% | -6.2% | -0.5% | -3.5% | -6.7% |
| Risk Measures | |
| Beta: | 0.21 |
| R-Squared: | 77% |
| Standard Deviation: | 3.1% |
| Category Risk Index: | 0.23 |
| Category Risk Rating: | Low |
| Total Risk Index: | 0.25 |
| Total Risk Rating: | Low |
| Portfolio Characteristics | |
| Yield: | 5.9% |
| Total Assets: | $ 1,296 Mil |
| Share Class Assets: | $ 1,296 Mil |
| Turnover: | 0.0% |
| Expense Ratio: | 0.99% |
| Index Fund: | No |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 10.6 years | |||
| Average Tenure: 8.8 years | |||
| Managers (Year): Arthur Kim (2015), Concidine James (2015), Fredericks J. Richard (2015), Varner Alex (2015), Ryan Darol (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 19 |
| % in Top 10 Holdings: | 122.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.7% |
Portfolio Allocation |
|
| Domestic Stock: | 96.7% |
| Foreign Stock: | 0.7% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 1.4% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.3% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Main Management ETFs |
| Phone Number: | 866-383-9778 |
| Website: | |
| Inception Date: | December 29, 2015 |
Expenses and Fees
| Expense Ratio (%): | 0.99% (Rating: High) |
| Category Average Expense Ratio (%): | 0.83% |
