State Street Consumer Discretionary Select Sector SPDR Premium Income ETF (XLYI)

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

The fund provides exposure to consumer discretionary companies in the S&P 500, the universe of the Consumer Discretionary Select Sector SPDR Fund, which includes online and specialty retailers, automakers, restaurant chains, hotels and leisure companies, and apparel and home goods businesses. It pairs this equity exposure with an options strategy, typically writing call options, to generate premium income.

The options overlay is designed to provide regular income, but it can reduce the fund's upside when consumer discretionary stocks rally strongly.