TappAlpha S&P 500 Growth & Daily Income ETF

TSPY

Market cap $308M

SEATTLE, July 15, 2026 (GLOBE NEWSWIRE) -- Following its recent milestone of surpassing $500 million in assets under management, TappAlpha today announced the launch of the TappAlpha Cboe Magnificent 10 Growth & Daily Income ETF (TMGN), a new ETF designed to provide exposure to the Cboe Magnificent 10 Index (MGTN Index) while applying TappAlpha's daily options-based growth + income strategy. TMGN, listed on Cboe BZX Equities Exchange, expands TappAlpha's growing Growth + Income ETF lineup, which seeks to help investors maintain core equity exposures, while simultaneously generating tax-efficient income through a disciplined options overlay.

TappAlpha's S&P 500 Growth & Daily Income ETF stands out for its high yield, active 0DTE covered call strategy, and recent cost-saving changes. TSPY switched its underlying holding from SPY to VOO, reducing its total expense ratio from 0.77% to 0.71%, enhancing long-term return potential. Distributions have averaged $0.30 monthly, with 100% return of capital in 2026, making TSPY highly tax-efficient for taxable accounts.

SEATTLE, June 02, 2026 (GLOBE NEWSWIRE) -- TappAlpha today announced two enhancements to its flagship ETF, TSPY: the addition of S&P 500® naming through a licensing agreement with S&P Dow Jones Indices, and a reduction in underlying fund costs through a transition to the Vanguard S&P 500 ETF. The fund will be renamed the TappAlpha S&P 500 Growth and Daily Income ETF, while maintaining its ticker (TSPY), investment strategy, and options-based income strategy.

SEATTLE, May 12, 2026 (GLOBE NEWSWIRE) -- TappAlpha, an ETF platform helping define the Growth + Income investing category, today announced it has surpassed $500 million in assets under management (as of 5/8/26), doubling AUM in just four months and reflecting what the firm has heard consistently from the advisors and investors who have trusted TappAlpha with their allocations. For decades, generating income from a portfolio meant stepping out of equities, either by selling shares to fund cash needs, or rotating into bonds, dividend stocks, or alternatives to reach for yield.

In my opinion, TappAlpha S&P 500 Growth & Daily Income ETF has a dynamic, high-distribution buy-write strategy and tax-efficient structure. TSPY generates a 14.56% annualized distribution rate, primarily from option premiums and capital gains, with ROC averaging above 50% monthly. The ETF outperforms mechanical peers in volatile or sideways markets but underperforms SPY during strong rallies due to upside caps from daily call writing.

Income-oriented ETFs based on zero-day (0DTE) options selling have gained traction recently. These funds such as TappAlpha SPY Growth & Daily Income ETF and Roundhill Innov-100 0DTE Covered Call Strat ETF offer different risk profiles than their longer‑term, options‑based counterparts. ETFs leveraging 0DTE options aim to deliver elevated income, representing a fast-growing segment within the options-based ETF landscape.

Positioning into high-yield ETFs is prudent amid persistent inflation and uncertain rate cuts. Overlay Shares Large Cap Equity ETF (OVL) offers a differentiated put-selling strategy, monthly yields above 10%, and market-beating returns since inception. TappAlpha SPY Growth & Daily Income ETF (TSPY) delivers a higher 14.56% yield via daily options, but with capped upside and recent NAV declines due to volatility.

I advocate for value-oriented covered call ETFs with underlying holdings beyond AI-saturated large-cap growth indices like SPY and QQQ. The risks for NAV erosion and income declines are higher on this front. Despite these risks, including some QQQ/SPY-linked covered call ETFs could enhance diversification and capture higher yields from volatility and growth.

TappAlpha SPY Growth & Daily Income ETF targets high monthly income with direct S&P 500 exposure and an active 0DTE option-writing strategy. TSPY currently offers a 14.6% yield, but total returns (13.5%) lag SPY and peer SPYI due to capped upside and lack of downside protection. Return of capital distributions dominates payouts, supporting tax efficiency but risking NAV erosion if market declines persist.

TSPY and (XDTE) are compared for their performance in sideways markets. TSPY is rated 'Buy' for its transparent structure, slightly higher total return since inception, and lower risk of capital erosion versus XDTE, which is rated 'Hold'. XDTE offers a higher weekly dividend yield (36.87% vs. TSPY's 14.76%) and greater tax efficiency, but suffers from significant capital erosion and higher risk.