TappAlpha S&P 500 Growth & Daily Income ETF (TSPY)

The TappAlpha S&P 500 Growth & Daily Income ETF (TSPY) is an actively managed fund from TappAlpha that combines exposure to the S&P 500 Index with an options-based income strategy.

The fund holds investments that track the large-cap S&P 500 and sells short-dated call options on the index, including options that expire the same day they are written. Collecting option premiums on a daily basis is intended to generate a steady stream of income for regular distributions, while retaining a portion of the index's upside potential. Selling calls limits participation in strong rallies. The ETF trades on the Nasdaq.