SIOO vs THTA

SIOOAVistaShares Target 15 S&P 100 Distribution ETF

THTABSoFi Enhanced Yield ETF

In short

SIOO Most equity-income ETFs pay out whatever the options market hands them. SIOO starts from the answer: a 15% annual income target, paid monthly, bolted onto an S&P 100 core using index options that carry 60/40 tax treatment.

THTA Most options-income funds sell upside on stocks they own. THTA owns no stocks: it holds short-duration Treasuries and sells defined-risk credit spreads on major US index options, targeting a 10% annualized distribution rate paid monthly.

Stated mandate

SIOO The actively managed ETF seeks income and, secondarily, long-term capital appreciation. It combines equity exposure based on the S&P 100 Index (OEX) with an options portfolio intended to generate income.

THTA THTA seeks current income by combining U.S. government securities, including Treasury bills and bonds, with a credit-spread options strategy intended to enhance yield.

Why people hold it

• SIOO 0.59% expense ratio, below the 0.75% typical for options-income funds. Modest toll for an actively managed overlay.
• The overlay uses S&P 100 (OEX) index options, section 1256 contracts taxed at blended 60/40 rates, and the manager also hunts tax-loss harvesting in the equity sleeve.vistashares.com
• You keep the stocks. The equity sleeve generally mirrors the S&P 100's mega-cap roster, with the income machinery layered on top rather than replacing it.vistashares.com
• The payout target is stated up front: 15% a year, distributed monthly. A published yardstick you can hold the fund to, rather than a mystery yield.vistashares.com

• THTA The income driver here is volatility premium, not equity upside sold away. Treasuries do the collateral work while index options do the earning, so no stock portfolio gets capped.sofi.com
• Spreads, not naked writes. Each position pairs a sold option with a bought one, and the prospectus caps the book at up to 15 credit spreads with no more than 25% in any single index spread.sofi.commanilatimes.net
• At 0.65%, the fee sits below the median of its 24-fund options-income group, and the fund ranks in the group's top quartile on our review. Cheaper exists: EDGX is 0% net of a waiver through March 1, 2027 (0.50% gross).
• Pays monthly and has done so since launching in November 2023, with a stated 10% annualized distribution rate target set against the most recent NAV.sofi.com

Worth knowing

• SIOO 15% is a target, not a coupon. Distributions can include return of capital, which sends part of your own principal back and trims net asset value.vistashares.com
• Income comes from an actively managed options book, so the outcome rides on manager decisions and options pricing instead of a fixed dividend stream.
• Launched in December 2025 and still a small, lightly traded fund. Short history and wider bid-ask spreads come with that territory.

• THTA Defined risk is not low risk. A sharp move through a short strike can hand a spread its maximum loss, and the Treasury sleeve is collateral for those trades, not a buffer against them.sofi.commanilatimes.net
• The issuer discloses that distributions may mix ordinary income, capital gains and return of capital, and that return of capital can pull NAV and market price down over time.yahoo.com
• A smaller, moderately traded fund in a category with far bigger names, so bid-ask spreads can be wider than headline peers'.

Full SIOO profile⁠

Full THTA profile⁠