ETF Evaluator:
TappAlpha S&P 500 Growth & Daily Inc ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Derivative Income Over the Last Year
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ETF Details
TappAlpha S&P 500 Growth & Daily Inc ETF Overview
TappAlpha S&P 500 Growth & Daily Inc ETF (TSPY) is an actively managed Nontraditional Equity Derivative Income exchange-traded fund (ETF). TappAlpha launched the ETF in 2024.
The investment seeks current income while maintaining prospects for capital appreciation; to seek exposure to the performance of the SPDR S&P 500 ETF Trust (“SPY”), subject to a limit on potential investment gains is secondary consideration.
Under normal circumstances, the fund invests at least 80% of its net assets, plus the amount of borrowings for investment purposes, in financial instruments and economic interests, including through direct investments in equity securities, that provide exposure to the S&P 500® Index. The fund is non-diversified.
About TappAlpha S&P 500 Growth & Daily Inc ETF (TSPY)
There are 1 members of the management team with an average tenure of 1.96 years: Si Katara (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 100%. TappAlpha S&P 500 Growth & Daily Inc ETF has 3 securities in its portfolio. The top 10 holdings constitute 99.8% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
TappAlpha S&P 500 Growth & Daily Inc ETF is part of the Equity global asset class and is within the Nontraditional Equity ETF group. TappAlpha S&P 500 Growth & Daily Inc ETF has 0.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 98.5% There is 0.5% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). TappAlpha S&P 500 Growth & Daily Inc ETF has 0.6% of the portfolio in cash.
Assets Under Management
The fund has $307 million in total assets, which is below the $727 million average for the Derivative Income category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
TSPY Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The TappAlpha S&P 500 Growth & Daily Inc ETF expense ratio is above average compared to funds in the Derivative Income category. TappAlpha S&P 500 Growth & Daily Inc ETF has an expense ratio of 0.71%, which is 15% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. TappAlpha S&P 500 Growth & Daily Inc ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 69% for the Derivative Income category.
Recently, in the month of July 2026, TappAlpha S&P 500 Growth & Daily Inc ETF returned -0.1%, which earned it a grade of C, as the Derivative Income category had an average return of -1.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
TappAlpha S&P 500 Growth & Daily Inc ETF has a trailing yield of 2.08%, which is below the 19.96% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
TappAlpha S&P 500 Growth & Daily Inc ETF Grades
Year to date, the ETF has returned 6.8%, 4.2 percentage points better than the category, which translates into a grade of C. The fund has returned 17.0% over the past year (grade of C).
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TSPY Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| TSPY Return (NAV) | -0.1% | 2.6% | 17.0% | na | na | na |
| TSPY Return (Price) | 0.2% | 2.7% | 16.5% | na | na | na |
| NAV +/- Price Return | -0.308% | -0.150% | 0.513% | na | na | na |
| Derivative Income Avg | -1.5% | 0.6% | 11.2% | 13.7% | 8.8% | 7.5% |
| TSPY Grade (NAV) | C | C | C | na | na | na |
| +/- Category (NAV) | 1.4% | 2.0% | 5.8% | na | na | na |
| TSPY Tax-Cost Ratio | na | na | 0.8% | na | na | na |
TSPY Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| TSPY Return (NAV) | 6.8% | 17.3% | na | na | na | na | na | na | na | na | na |
| TSPY Return (Price) | 6.8% | 17.3% | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.003% | -0.001% | na | na | na | na | na | na | na | na | na |
| Derivative Income Avg | 2.6% | 10.6% | 18.5% | 17.5% | -11.3% | 19.4% | 1.4% | 19.2% | -7.1% | 12.1% | 8.7% |
| TSPY Grade (NAV) | C | B | na | na | na | na | na | na | na | na | na |
| +/- Category | 4.2% | 6.7% | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 2.1% |
| Total Assets: | $ 308 Mil |
| Share Class Assets: | $ 308 Mil |
| Turnover: | 0.0% |
| Expense Ratio: | 0.71% |
| Index Fund: | No |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 2.0 years | |||
| Average Tenure: 2.0 years | |||
| Managers (Year): Katara Si (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 3 |
| % in Top 10 Holdings: | 99.8% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.5% |
Portfolio Allocation |
|
| Domestic Stock: | 98.5% |
| Foreign Stock: | 0.5% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.4% |
| Cash: | 0.6% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | TappAlpha |
| Phone Number: | 844-403-2888 |
| Website: | |
| Inception Date: | August 14, 2024 |
Expenses and Fees
| Expense Ratio (%): | 0.71% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.83% |
