MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, August 20, 2024 Tuttle Helps a Robo Into ETF World The folks at a boutique asset manager near Gotham are helping a roboadvisor startup in the Pacific Northwest enter the ETF space.
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. Printed from: MFWire.com/story.asp?s=67807 Copyright 2024, InvestmentWires, Inc. All Rights Reserved |
