MEMY vs TCAL

MEMYFTuttle Capital Meme Stock Income Blast ETF

TCALAT. Rowe Price Capital Appreciation Premium Income ETF

In short

MEMY Most premium-income ETFs sell calls on blue chips. MEMY works the other side of the tape: actively managed exposure to stocks tagged as meme names, with put-credit spreads written on them to generate the income.

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

MEMY The Fund seeks current income and secondary exposure to selected securities commonly characterized as meme stocks. It is actively managed, invests at least 80% of net assets in those securities, and uses put-credit spreads to generate shareholder income.

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

• MEMY The income engine is a put-credit spread, a defined-risk trade: premium comes in up front, and the long put leg caps how far a single spread can lose.
• One wrapper, two jobs: at least 80% of net assets in securities characterized as meme stocks, plus an actively run options overlay on top.
• Payouts run on a monthly cadence, though the prospectus only commits to distributing at least annually.

• 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

• MEMY At 0.99% a year it sits above the median for options-income funds, and well above top-ranked peers like PAPI (0.29%) and DIVO (0.56%).
• A small, thinly traded fund since its 2026 launch, which tends to mean wider bid-ask spreads than a mega-fund in the same category.
• The trade-off in a put-credit spread: upside is limited to the premium collected, while the short leg takes losses if a meme name falls through its strike.

• 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 MEMY profile⁠

Full TCAL profile⁠