TappAlpha SPY Growth & Daily Income ETF
$25.48−0.21 (−0.84%)
- Expense ratio
- 0.71%
- Fund size
- $334M
- 1Y return
- +15.6%
- Yield · Last 12 months
- 13.89%
- Holdings
- 3
- Volume · 30D
- 0.2M sh
- NAV per share
- $25.67
- 52W range
The ETF.net TSPY Grade
Score 57 of 100 sits in the B 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.DScore 39Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 97Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.FScore 22Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.AScore 79Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.DScore 38Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.CScore 51Category rank
Our read on TSPY
BTappAlpha writes S&P 500 calls that expire the same day, harvesting premium daily instead of monthly, and distributes monthly. An actively run take on the covered-call trade that still chases capital appreciation, not just yield.
The Fund seeks current income and capital appreciation while obtaining exposure to the S&P 500® Index through an actively managed covered-call strategy. It sells primarily daily or 0DTE call options against its long S&P 500 exposure to generate option-premium income.
Why people hold it
- Sells primarily daily (0DTE) calls against its S&P 500 exposure, so strikes reset with the market instead of locking in a month-old view.
- The label is the strategy: US S&P 500 equity exposure with calls written on top, actively managed, no drift into other benchmarks.
- Pays monthly, and sits in the upper half of a crowded 51-fund S&P 500 options-income cohort.
- Standard 1940 Act ETF wrapper, so no K-1 and no exotic legal structure behind the options sleeve.
Worth knowing
- At 0.77% it runs above the cohort's median fee and well above rules-based S&P 500 overwriters like IVVW (0.25%) and GPIX (0.35%).
- The fund discloses that distributions can include return of capital, which is your own money coming back and lowers your cost basis.
- Launched in 2024, so the track record is short. Writing calls every day also gives up part of the upside on sharp rally days.
TSPY Holdings
- Stocks
- 3
- 100%
- VOO
Geography
- United States100.00%
TSPY Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
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.
| Period | TSPY |
|---|---|
| Year to date | +12.0% |
| 1 month | +1.6% |
| 3 months | +4.2% |
| 1 year | +15.6% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | TSPY |
|---|---|---|
| 2026 YTD | +12.0% | |
| 2025 | +17.3% | |
| 2024 | +6.1% |
TSPY in the news
ETF.net Research hasn’t filed on TSPY yet — coverage lands here as it’s written.
TSPY Dividends
- 13.89%
- $3.57
- $0.30 per share
- Irregular
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 1, 2026 | Sep 2, 2026 | $0.30 |
| Aug 4, 2026 | Aug 5, 2026 | $0.30 |
| Jun 30, 2026 | Jul 1, 2026 | $0.30 |
| Jun 2, 2026 | Jun 3, 2026 | $0.30 |
| May 5, 2026 | May 6, 2026 | $0.29 |
| Mar 31, 2026 | Apr 1, 2026 | $0.28 |
| Mar 3, 2026 | Mar 4, 2026 | $0.30 |
| Feb 3, 2026 | Feb 4, 2026 | $0.30 |
| Jan 6, 2026 | Jan 7, 2026 | $0.30 |
| Dec 2, 2025 | Dec 3, 2025 | $0.30 |
| Nov 4, 2025 | Nov 5, 2025 | $0.30 |
| Oct 7, 2025 | Oct 8, 2025 | $0.30 |
TSPY Risk
- 12.7%
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.
- 0.91
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.
- −18.0%
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.
- 1.05
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
TSPY Cost
- The middle half of S&P 500 Option Income funds
- Median 0.60%
29 of the 51 S&P 500 Option Income funds charge less.