State Street Materials Select Sector SPDR Premium Income ETF (XLBI)

The State Street Materials Select Sector SPDR Premium Income ETF is an exchange-traded fund from State Street Investment Management that trades on NYSE Arca under the ticker XLBI.

The fund provides exposure to the companies in the materials sector of the S&P 500, the same universe represented by the Materials Select Sector SPDR Fund, which includes chemical producers, construction materials firms, packaging companies, and metals and mining businesses. It pairs this equity exposure with an options strategy designed to generate premium income, typically by writing call options.

The option overlay is intended to produce regular income for shareholders, but it can limit the fund's participation in strong rallies in materials stocks.