- Pays: monthly — the "daily income" in the name refers to the option strategy (daily 0DTE calls), not the payout schedule.
- First paid: October 2024 — every payment since is charted below.
- What it is: S&P 500 exposure with out-of-the-money 0DTE covered calls written daily — selling each day's far upside while keeping most ordinary gains.
- Fee: 0.71% total expense ratio (0.68% management + 0.03% acquired fund fees, per the issuer).
- The issuer: TappAlpha, a newer entrant — this is its flagship strategy.
Writing out-of-the-money daily calls is the gentler version of the 0DTE trade: less premium than at-the-money sellers collect, more of the index's daily upside kept. The monthly payout smooths what the daily engine earns.
TSPY pays monthly. Each point below is one distribution since the fund began paying in October 2024.
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Each point is one payment; the line ends at the most recent payout. The table below totals them by year.
| Recent Ex-Dividend Dates | Distribution / Share |
|---|
"Next expected" is estimated from TSPY's recent payment rhythm — the fund announces exact dates shortly before each payout, and the data feed can lag a few days. You must own shares before the ex-dividend date to receive that payout; the cash typically arrives days later. See every fund's upcoming date on the live dividend calendar.
A real total-return estimate, assuming every payout was reinvested — including what happened to the share price. Before taxes and fees. Past performance does not predict the future.
The daily-options category spans a wide throttle range: Defiance's WDTE sells near the money for ~30% targets, Roundhill's XDTE runs its own weekly-paying version, and TSPY sits at the moderate end — out-of-the-money strikes, most upside kept, monthly checks.
The right benchmark is honest: plain S&P 500 exposure, and the aggressive daily sellers, on either side. The compare tool runs both overlays.
| Year | Total Distributions / Share | Payments | Change vs Prior Year |
|---|
Data source: Yahoo Finance. Figures are per share; the current year may be partial and figures should be verified against official sources.
Calculated from complete calendar years in the data above. Past results don't guarantee future payments.
When Is TSPY's Next Ex-Dividend Date?
TSPY pays monthly. The exact date of each payout is announced by the fund only shortly beforehand, so no site can promise the next date — but the live schedule box above shows the most recent ex-dividend date and the expected window for the next one, computed from TSPY's actual payment rhythm. Remember: you must own shares before the ex-dividend date to receive that payout.
TSPY's Record So Far
TSPY — the TappAlpha S&P 500 Growth & Daily Income ETF — launched in August 2024 and has paid monthly since October 2024. The chart above shows every declared distribution.
Daily Engine, Monthly Gearbox
TSPY runs the same daily 0DTE harvest as the aggressive funds but with out-of-the-money strikes — each day's modest gains stay in the fund, and only the outsized rallies are sold. Batching the proceeds into a monthly payment smooths the noise a weekly check would show. The design premise is that a smaller, steadier cut of daily premium erodes less than the maximum harvest.
Reading the Chart Honestly
A young fund with a moderate mandate should show a steady payment line and a share price that tracks the S&P closely — deviations from either are the tell. Overlay TSPY against plain S&P exposure and against WDTE on the compare tool.
Compare It Against Anything
Same chart, two tickers, one honest overlay — payouts and price erosion side by side.
Compare Any Two Funds