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FOTO

GradeDChicago Board Options Exchange

Tuttle Capital Pure Play Photonics ETF

Themes · Tuttle Capital · Inception 2026-05-27

$17.95−0.29 (−1.59%)

As of Sep 23, 2026, 3:04 PM EDT

History starts May 29, 2026.History starts May 29, 2026.History starts May 29, 2026.
Intraday session: down, 52 prints from 18.24 to 17.95. Range 17.80 to 18.14. Use the arrow keys to read each point.$17.80$17.90$18.00$18.1010 AM12 PM2 PM4 PM
Expense ratio
0.75%
Fund size
$125M
1Y return
—
Yield · Last 12 months
—
Holdings
42
Volume · 30D
0.7M sh
NAV per share
$18.16
52W range
low $15.94high $27.86

The ETF.net FOTO Grade

D

31/ 100

Rank 4 of 9 in Quantum Computing & Photonics⁠

Confidence Medium

Six-pillar profile for FOTO. Scores out of 100: Cost 22, Risk 15, Mission not scored, Tradability 68, Holdings 19, Durability 57. Strongest: Tradability (68). Weakest: Risk (15). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 31 of 100 sits in the D band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 22
    Category rank7/9 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    FScore 15
    Category rank5/5 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 68
    Category rank2/9 · top 22%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    FScore 19
    Category rank9/9 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 57
    Category rank4/9 · top 44%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on FOTO

ETF.net Research

DPhotonics with a purity test: holdings must earn at least half their revenue from the business of moving data as light instead of electricity. About 40 global names, actively managed, and per its prospectus income comes first, generated with a systematic put spread strategy.

Stated mandate

The Fund seeks current income and, secondarily, long-term capital appreciation. It targets photonics-related companies and uses a systematic put spread strategy to generate income.

Why people hold it

  1. 01The pure-play screen has teeth: companies must derive at least 50% of revenue or operating profit from photonics, so the theme is not padded with megacap filler.nasdaq.com
  2. 02The theme is spelled out, not vague: optical communications, silicon photonics, LiDAR, industrial lasers and optoelectronic devices, drawn from a global opportunity set.fotoetf.com
  3. 03Income leads the mandate, pursued with a systematic put spread strategy. That is an unusual build for a frontier-tech theme where cohort rivals chase appreciation alone.
  4. 04Actively traded since its 2026 launch, with listed options on Cboe and EDGX, so sizing and hedging tools exist alongside the shares.nasdaq.com

Worth knowing

  1. 01At 0.75%, the fee runs more than double the cohort median of 0.35%. Theme neighbors EUV (0.35%) and QTUP (0.00%) charge less for adjacent exposure.
  2. 02Non-diversified and roughly 40 names deep, with part of the exposure taken through swaps rather than shares, which layers counterparty risk onto a concentrated basket.fotoetf.comfinance.yahoo.com
  3. 03Put spread premium moves with volatility, and the short leg absorbs declines down to the long strike. Income from that engine is variable by design, not fixed.

FOTO Holdings

As of Sep 20, 2026, 6:41 AM
Asset class
Stocks
Holdings
42
Top-10 weight
135%
Largest holding
CASH AND CASH EQUIVALENTS75.9%

Sectors

Geography

The fund’s holdings, weight-ordered — page 1 of 2.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—CASH AND CASH EQUIVALENTS75.86%91,580,582$92M120
002—RECV FOTO TRS LITE EQ11.47%15,490$14M1
003LITELUMENTUM HOLDINGS INC8.26%11,161$10M385
004—RECV FOTO TRS COHR EQ7.80%31,819$9M1
005—RECV FOTO TRS FN EQ6.79%21,522$8M1
006—RECV FOTO TRS IPGP EQ6.47%102,540$8M1
007IPGPIPG PHOTONICS CORP5.69%90,220$7M117
008CIENCIENA CORP4.40%15,435$5M384
009—RECV FOTO TRS CIEN EQ4.39%15,396$5M1
010—RECV FOTO TRS LASR EQ4.12%129,348$5M1
011IIVICOHERENT CORP COMMON STOCK3.90%15,921$5M1
012—RECV FOTO TRS VIAV EQ3.90%135,393$5M1
013AAOIAPPLIED OPTOELECTRONICS INC3.25%40,024$4M101
014VIAVVIAVI SOLUTIONS INC3.14%109,261$4M148
015LASRnLight Inc.2.87%90,191$3M84

Showing 1–15 of 29 holdings

FOTO Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

FOTO$7,343
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. FOTO $7,343. SPY $10,415. Use the arrow keys to read each point.$6,186$8,476$10,766Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for FOTO. Periods over one year show the average yearly return.
PeriodFOTO
Year to dateFund launched this year—
1 month−1.5%
3 months−26.6%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for FOTO
YearReturn barFOTO
2026 YTD−25.5%

History from May 29, 2026

FOTO in the news

FOTO Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed May 2026. No distributions yet.

FOTO Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched May 2026; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched May 2026; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched May 2026; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.86
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FOTO Cost

Expense ratio0.75%
  • The middle half of Quantum Computing & Photonics funds
  • Median 0.54%

6 of the 8 Quantum Computing & Photonics funds charge less.

FOTO costs $75.00 a year on $10,000. The median Quantum Computing & Photonics fund costs $54.50.