ACKY vs TCAL

ACKYCVistaShares Target 15 ACKtivist Distribution ETF

TCALAT. Rowe Price Capital Appreciation Premium Income ETF

In short

ACKY An activist investor's greatest hits, wrapped in a paycheck. ACKY holds roughly 30 top picks from a Pershing Square portfolio index and targets a 15% annual distribution rate, paid monthly.

TCAL An active stock picker's take on the covered-call trade: roughly 70 hand-chosen holdings, calls written on top, cash paid out monthly, all for 0.34% a year.

Stated mandate

ACKY The fund is actively managed and seeks income first, with long-term capital appreciation as a secondary objective.

TCAL The fund seeks regular distributions while aiming to preserve capital and potentially achieve capital appreciation. It invests in equities and writes covered calls to generate cash flow alongside dividends.

Why people hold it

• ACKY Rare shelf space: an index of top picks from Pershing Square's concentrated portfolio, run actively with income first and long-term appreciation second.vistashares.com
• The payout policy is written down, not improvised: a stated 15% annual distribution target, delivered monthly rather than quarterly.vistashares.com
• About 30 US stocks, so each conviction name actually registers instead of being diluted across hundreds of tickers.vistashares.com

• TCAL At 0.34% a year, it undercuts most active options-income funds, including DIVO at 0.56%, so more of the option premium stays in the portfolio instead of the fee line.
• Active all the way down: roughly 70 equities picked by T. Rowe Price, with covered calls layered on to generate cash alongside dividends. No index sitting underneath.
• Pays monthly, and the stated mandate ties those distributions to preserving capital and seeking appreciation rather than maximizing headline yield.
• Ranks among the strongest implementations in a crowded options-income field, with cost the clearest edge.

Worth knowing

• ACKY 0.95% a year is pricey for equity income. Peers like PAPI (0.29%) and TCAL (0.34%) run options-income strategies for a fraction of that.
• 15% is a target, not a promise, and the fund discloses distributions can include return of capital, which is your own money coming back and reduces NAV.vistashares.com
• A 2025 launch with a short record and roughly 30 holdings: single-name moves land hard, and young funds often trade with wider bid-ask spreads.

• TCAL Written calls trade upside for cash. When the stock picks run hard, the calls limit how much of that move the fund keeps.
• Launched in 2025, so there is no full market-cycle record to judge the strategy against yet.
• The fund discloses that distributions can include return of capital, meaning part of a payout may be your own money coming back rather than income earned.

Full ACKY profile⁠

Full TCAL profile⁠