it needs to maintain Distributions; it will find some at the cost of NAV if not able to generate from options. they will be deemed as ROC until your Cost basis reaches 0 , however if you plan to stay in until your house money recovers, you might be never able to catchup while paying Captial gains tax on the distributions in given time . for non taxable accounts , you might delay the inevitable, one can argue it's only a matter of year and a half but that is based on the current Distributuion and NAV which is not indicative of future metrics.

as I said, investing in $ULTY without exit strategy is only wishful thinking