TappAlpha SPY Growth & Daily Income ETF
$25.59+0.03 (+0.12%)
- 0.71%
- $368M
- +18.6%
- 13.95%
- 0.2M sh
- $25.59
- low $22.66high $26.67
The ETF.net TSPY Grade
B
Score 59 out of 100
- 24 of 52
Score 59 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.C41 out of 100Rank 31 of 52Mission
Whether the fund did what it promised, tested against its stated mandate.A100 out of 100Rank 1 of 35Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D28 out of 100Rank 43 of 52Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A75 out of 100Rank 7 of 52Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.D38 out of 100Rank 33 of 41Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B55 out of 100Rank 27 of 52
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.
Not enough history yet.Not enough history yet.Not enough history yet.
TSPY$11,860
Returns run to the Oct 12, 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 | +12.7% |
| 1 month | +2.3% |
| 3 months | +3.3% |
| 1 year | +18.6% |
| 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 | +12.7% | |
| 2025 | +17.3% | |
| 2024 | +6.1% |
TSPY in the news
TSPY Dividends
- 13.95%
- $3.57
- $0.30 per share
- Monthly
Distribution history
TSPY Risk
- 12.5%
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.
- 0.87
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.
- 1.04
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
0.71%
TSPY0.71%
- 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.
Other funds in S&P 500 Option Income
- BSPYHNEOS S&P 500 Hedged Equity Income ETFExpense ratio 0.68%1 year return +14.3%
- BSPUCSimplify US Equity Income ETFExpense ratio 0.53%1 year return +17.1%
- BHEQTSimplify Hedged Equity ETFExpense ratio 0.53%1 year return +13.8%
- BOVLOverlay Shares Large Cap Equity ETFExpense ratio 0.79%1 year return +24.2%
- BXRMIGlobal X - S&P 500 Risk Managed Income ETFExpense ratio 0.60%1 year return +11.5%