TappAlpha ETF Renamed S&P 500 Growth and Income, Cuts Costs by 6.45 Bps
TSPY•TappAlpha's flagship ETF TSPY will be renamed TappAlpha S&P 500 Growth and Daily Income ETF after licensing the S&P 500 naming and aligning benchmark reference. The fund will switch its underlying exposure from SPDR S&P 500 ETF to Vanguard S&P 500 ETF, reducing annual costs by approximately 6.45 basis points.
1. S&P 500 Naming and Fund Renaming
TappAlpha secured a licensing agreement with S&P Dow Jones Indices to formally reference the S&P 500 Index and renamed TSPY to TappAlpha S&P 500 Growth and Daily Income ETF while retaining its ticker and options-based income strategy.
2. Transition to Vanguard S&P 500 ETF
The fund will replace its SPDR S&P 500 ETF Trust holdings with the Vanguard S&P 500 ETF, reducing the underlying expense ratio by approximately 6.45 basis points annually and enhancing net returns for shareholders.
3. Strategy, Distributions, and Investor Impact
Core elements of the fund—daily covered call income strategy, monthly distributions, tax-efficient structure and CUSIP—remain unchanged, ensuring that investors retain the same exposure and income framework with clearer benchmark alignment and lower costs.
