A head-to-head comparison of VegaShares SPX NDX RTY Premium Income ETF and TappAlpha S&P 500 Growth & Daily Income ETF covering yield, cost, risk, and income potential.
Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.
ODTE has lagged TSPY over the shared window since Apr 2026, posting a 5.74% total return against 15.45%. Figures are total returns: price change plus every distribution reinvested.
Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 30, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Apr 2026” measures every fund from April 6, 2026 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the shared window since Apr 2026. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the shared window since Apr 2026) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Distribution rate and SEC yield
Metric
ODTE
TSPY
Forward distribution rate
14.19%
13.98%
Trailing 12-month yield
6.97%
14.08%
30-day SEC yield
—
0.34%
Total return (price change plus reinvested distributions) is the Total returns section above. A 30-day SEC yield can sit far from the headline distribution rate; both numbers are the fund's own published fields.
Seeks weekly income by investing at least 80% of net assets in the constituents of the S&P 500, Nasdaq-100 and Russell 2000 indices, or instruments linked to them, alongside an options premium strategy.
The TappAlpha S&P 500 Growth & Daily Income ETF (the "Fund") seeks current income while maintaining prospects for capital appreciation. The Fund’s secondary investment objective is to seek exposure to the performance of the SPDR S&P 500 ETF Trust ("SPY"), subject to a limit on potential investment gains.
Bottom lineChoose ODTE if you want Nasdaq-100 exposure and can accept a more concentrated book. Choose TSPY if you want broader S&P 500 exposure and lower measured market sensitivity. ODTE and TSPY both use option or derivative overlays. Their tradeoff is the underlying exposure, how each option strategy is implemented, and the yield each targets; either overlay can limit upside participation, so neither offers uncapped price exposure.
How the risk works
Read this before the income numbers below: the strategy mechanics on this page shape what those payouts can cost you.
Capped upside and premium dependence. ODTE and TSPY generate income by selling options, which trades away part of a strong rally in exchange for premium. Distributions can include return of capital, and a payout the underlying assets cannot sustain shows up as NAV erosion over time — the big yield number is not free.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
VegaShares specializes in options-based and thematic ETFs designed to generate income and capitalize on emerging trends. The issuer's lineup spans income-focused strategies, including covered call funds, alongside thematic offerings that target specific market segments and innovation themes. VegaShares serves investors seeking alternative approaches to traditional equity exposure, with a concentrated portfolio of strategically named funds addressing both income generation and sector-specific growth opportunities.
See our curated list of related YouTube videos on ODTE.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
TappAlpha operates a focused ETF lineup of four funds organized around two main families: Growth & Daily Income and T² Lift Series. The company's fund offerings span growth-oriented strategies and daily income approaches, with ticker symbols including TDAQ, TDAX, TSPY, and TSYX that target investors seeking regular income generation or equity growth exposure. As a smaller, specialized ETF provider, TappAlpha positions itself in a niche segment of the ETF market focused on daily income strategies and differentiated growth approaches.
See our curated list of related YouTube videos on TSPY.
ODTE (VegaShares SPX NDX RTY Premium Income ETF) and TSPY (TappAlpha S&P 500 Growth & Daily Income ETF) are both dividend ETFs, but they take different approaches.
ODTE offers the higher yield at 14.19% vs 13.98% for TSPY. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
TSPY is cheaper with an expense ratio of 0.71% compared to 0.76%.
They have different reference exposures: ODTE is linked to S&P 500, Nasdaq-100, Russell 2000 while TSPY is linked to SPDR S&P 500 ETF Trust (SPY), which means their performance drivers differ.
TSPY is the larger fund by assets ($342M), but assets alone do not establish trading costs or liquidity.
Who should choose each?
Choose ODTE
VegaShares SPX NDX RTY Premium Income ETF
Want Nasdaq-100 exposure — fewer names, heavier technology weight, and typically a higher current distribution.
Are comfortable with an options-income strategy — a large payout in exchange for capped upside.
Choose TSPY
TappAlpha S&P 500 Growth & Daily Income ETF
Want broader S&P 500 exposure — more sectors, less mega-cap concentration, and typically lower beta.
Are comfortable with an options-income strategy — a large payout in exchange for capped upside.
Want to keep costs low — a 0.71% expense ratio vs 0.76% for ODTE.
Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.
Still deciding? Track ODTE & TSPY for free
Create a free Dividend Vision account to keep them on a watchlist, get notified when they declare dividends, and see how much income they would add to your portfolio.
On a $10,000 investment, ODTE would generate roughly $27.29 cash per distribution, while TSPY would produce $116.50 cash per distribution, at current distribution rates.
ODTE yield14.19%
TSPY yield13.98%
Cash diff on $10K$89.21
Cost & efficiency
Over 10 years on $10,000, ODTE would cost approximately $760 in fees vs $710 for TSPY (simplified, not compounded). The $50.00 difference may be offset by yield or performance.
ODTE ER0.76%
TSPY ER0.71%
Strategy & risk
ODTE tracks S&P 500, Nasdaq-100, Russell 2000 with a covered call approach, while TSPY tracks SPDR S&P 500 ETF Trust (SPY) with a growth approach.
ODTE beta—
TSPY beta0.935
Fund details
ODTE is managed by VegaShares (launched 04/03/2026) with $2.76M in assets. TSPY is managed by TappAlpha (launched 08/14/2024) with $342M in assets.
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Frequently asked questions
What is the current distribution rate for ODTE and TSPY?
ODTE currently distributes 14.19% and TSPY 13.98%, based on fund data updated September 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.
Is ODTE or TSPY better for dividend income?
It depends on your goals. ODTE currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between ODTE and TSPY?
ODTE (VegaShares SPX NDX RTY Premium Income ETF) tracks S&P 500, Nasdaq-100, Russell 2000 with a covered call approach, while TSPY (TappAlpha S&P 500 Growth & Daily Income ETF) tracks SPDR S&P 500 ETF Trust (SPY) with a growth approach. They are issued by VegaShares and TappAlpha respectively.
Can I hold both ODTE and TSPY?
Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.
Is ODTE or TSPY safer?
By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — TSPY scores 79, ODTE scores 50, so TSPY's payout currently looks the more resilient of the two. No score makes an investment risk-free — treat this as a screening signal, not a guarantee, and the leverage, options-income, or crypto caveats flagged on this page apply regardless of score.
Which has lower fees, ODTE or TSPY?
ODTE has an expense ratio of 0.76% while TSPY charges 0.71%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in ODTE vs TSPY generate?
At current rates, $10,000 in ODTE would generate roughly $27.29 cash per distribution ($1,419.00 annually). The same in TSPY would produce about $116.50 cash per distribution ($1,398.00 annually).
Which has performed better historically, ODTE or TSPY?
ODTE has lagged TSPY over the shared window since Apr 2026, posting a 5.74% total return against 15.45%. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
Explore related screeners
Lateral filters that include these funds — browse the full peer set on DividendVision.
Both ODTE and TSPY are equity ETFs that generate income through options strategies overlaid on broad U.S. stock indices.
How they differ
The biggest difference is scope. ODTE deploys 0DTE (zero day to expiration) options across three separate index baskets — large-cap (S&P 500), mega-cap tech (Nasdaq-100), and small-cap (Russell 2000) — while TSPY concentrates solely on SPY holdings with a daily income strategy. This means ODTE offers exposure to small-cap volatility and sector diversification, whereas TSPY is purely large-cap S&P 500. The weekly cadence amplifies compounding potential but also reinvestment timing risk. TSPY's structure explicitly limits upside participation to fund the income (a "cap" on gains), while ODTE's three-index approach suggests more symmetric payoff. TSPY has $342M in assets under management compared to ODTE's $2.76M, a 122x difference in fund size. ODTE's expense ratio is 0.76%, slightly higher than TSPY's 0.71%.
Who each is best for
ODTE: Fits investors seeking aggressive weekly income and comfort with broad multi-index equity exposure. Designed for portfolios that can tolerate reinvestment friction and want Russell 2000 small-cap participation alongside large-cap and mega-cap tech.
TSPY: Fits investors who want large-cap S&P 500 exposure bundled with daily options income, and accept an explicit cap on price appreciation in exchange for downside mitigation and monthly distribution simplicity.
Key risks to know
NAV erosion at elevated distribution yields. Both funds distribute yields above 13%. Gap moves or sharp reversals between expirations can force adverse rolls or realized losses that aren't smoothed by longer-dated hedges.
Upside cap in TSPY reduces participation.TSPY explicitly limits gain potential to fund its income. In a sustained rally, this cap becomes a ceiling; investors participate in losses symmetrically but not gains, a structural drag.
Reinvestment timing with ODTE's weekly frequency. Weekly distributions create more opportunities to reinvest at unfavorable prices during market weakness and forfeit compounding if the fund rallies between ex-dividend dates. Both carry distribution yield risk — verify that payouts aren't eroding NAV by comparing price over successive quarters. Past performance in short-dated options strategies does not predict future results.
AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.
Learn the method
The metrics behind this comparison, explained in the Academy.
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