The folks at a boutique asset manager near Gotham are helping a roboadvisor startup in the Pacific Northwest enter the ETF space.

Matthew "Matt" Tuttle Tuttle Capital Management LLC CEO, Chief Investment Officer

Last week, the TappAlpha SPY Growth & Daily Income ETF (TSPY) debuted on the Nasdaq, and watch for the TappAlpha Innovation 100 Growth & Daily Income ETF (TDAQ) to follow suit down the line on the Cboe BZX. Seattle-based Tapp Finance, Inc. (dba TappAlpha) serves as investment advisor for both ETFs, while Riverside, Connecticut-based Tuttle Capital Management, LLC [profile] serves as subadvisor.

TSPY's inception date was last Wednesday, August 14, and as of yesterday the fund had $1.235 million in AUM. The actively managed, non-diversified ETF comes with an expense ratio of 68 basis points, and TDAQ will have the same expense ratio.

The idea behind both TDAQ and TSPY is to combine a long position in a particular index fund (TSPY bets on SPY, which tracks the S&P 500, while TDAQ bets on QQQ, which tracks the Nasdaq 100) with short positions in 0DTE call options (i.e. "daily call options having zero days to expiration"). Si Katara, founder and CEO of TappAlpha (and an ex-Cisco-software-engineer-turned-tech-entrepeneur), is the portfolio manager for both ETFs. He launched TappAlpha in February 2023.

"With TSPY, our goal is to open the door to Wall Street-caliber strategies for investors looking to combine growth and income in their portfolios," Katara states. "TSPY provides investors with an adaptive solution for income generation regardlesss of market and economic conditions."

TDAQ and TSPY's other service providers include: Cohen & Company, Ltd. as independent accounting firm; Commonwealth Fund Services, Inc. as administrator; ACA's Foreside Fund Services, LLC as distributor; Practus, LLP as counsel; U.S. Bancorp Fund Services, LLC (dba U.S. Bank Global Fund Services) as dividend disbursing agent, fund accountant, and transfer agent; and U.S. Bank, N.A. as custodian. 

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