Unlock Global Income with Strategic Option Writing
An Introduction to the Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW)
The Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW) has recently demonstrated robust total returns, building on its performance since early 2025. This fund, co-produced by Nick Ackerman and Stanford Chemist, is currently available at a significant discount to its Net Asset Value (NAV), making it an intriguing option for investors.
Exploring ETW's Valuation and Strategic Shifts
One of the most compelling aspects of ETW is its attractive valuation, with shares trading at a discount of over 10% to its NAV. This presents a potential entry point for investors. Furthermore, the fund has strategically altered its option overwrite percentage, significantly reducing it from nearly 100% to less than 50%. This adjustment is designed to enhance the fund's participation in market upside while continuing to generate income through option premiums.
Income Generation and Distribution Details
ETW offers an impressive monthly distribution yield of 8.64%. The income distributed by the fund is primarily sourced from capital gains generated by its underlying portfolio and from the collection of option premiums. This dual approach to income generation provides a stable and consistent return stream for shareholders.