Franklin ClearBridge Enhanced Income ETF shifts to buy-write strategy but lags peers in returns.

Franklin ClearBridge Enhanced Income ETF (YLDE) adopted a buy-write strategy in February 2025 aiming for a 6%–8% annual yield. The ETF holds 52 stocks and three S&P 500 call options, offering moderate risk and diversification. However, since the strategy change, YLDE has underperformed the SPY index and key buy-write ETF competitors like DIVO, SPYI, and GPIX in total returns and risk-adjusted performance. Investors may consider these alternatives for potentially better outcomes.