Buy Write Index Returns May 2026

: Typically underperforms. The BXM underperformed the S&P 500 in every single year (13 out of 13) where the market rose by more than 10%. Key Benchmark Comparisons BXY Index Dashboard - Cboe Global Indices

The is a benchmark designed to track a "buy-write" or covered call strategy, where you hold the S&P 500 index and sell monthly at-the-money (ATM) call options against it. Historical Performance Summary buy write index returns

: Historically, buy-write indices have exhibited about 30% lower volatility than the S&P 500. Performance in Different Market Conditions : Typically underperforms

: Provides a "buffer" because the premium received from selling the call option offsets some of the losses. For example, it significantly outperformed in 2000. The strategy typically offers lower volatility and higher

The strategy typically offers lower volatility and higher income than owning the index outright, but it tends to underperform in strong bull markets due to the "cap" on upside gains.

: This is the "sweet spot." It outperformed the S&P 500 in 5 out of 7 periods where the index posted annual returns of 10% or less.