TappAlpha
TappAlpha is a Seattle-based private asset manager operating four ETFs (TSPY, TDAQ, TSYX, TDAX) that deploy a systematic daily 0DTE covered call strategy on S&P 500 (VOO) and Nasdaq-100 (QQQM) index ETF holdings, generating fee income at 0.68% of approximately $572M combined AUM from income-focused retail and retirement investors distributed through major US brokerages.
- Company typePrivate
- Founded2024
- HeadquartersSeattle, United States
- Headcount1–10
- GTM typeB2C
- OfferingServices
What TappAlpha does
TappAlpha is a Seattle-based private asset management firm that sponsors and manages a suite of ETFs deploying a systematic daily zero-day-to-expiry (0DTE) covered call writing strategy on core US equity index ETFs. The company's product architecture combines holdings in Vanguard's VOO (S&P 500) or Invesco's QQQM (Nasdaq-100) with daily written call options, executed through a dynamic, data-driven rules-based overlay designed to capture theta decay premium income while preserving equity market exposure. The product suite is organized into two tiers: the Core+ Series (TSPY and TDAQ) and the T² Lift™ Series (TSYX and TDAX), where the latter applies approximately 1.3x leverage via total return swap agreements with LETF Opportunities Trust.
The firm generates revenue exclusively through ETF management fees, charging 0.68% annually on assets under management across all four funds. As of June 26, 2026, combined AUM stood at approximately $572M (TSPY $280.6M, TDAQ $237.9M, TSYX $12.6M, TDAX $41.1M), with the leveraged T² Lift Series having launched only in January 2026. Distribution occurs through a self-directed retail brokerage channel — Charles Schwab, Fidelity, E*TRADE/Morgan Stanley, Interactive Brokers, Robinhood, and SoFi — alongside financial advisor allocations, with Foreside Fund Services acting as FINRA-member distributor and fund ETFs listed on NASDAQ (TSPY, TSYX) and Cboe (TDAQ, TDAX).
The company is led by founder and CEO Si Katara, a sole disclosed member of the management team, who operates TappAlpha LLC from Seattle with a 1-10 employee headcount. TappAlpha employs a content-led, earned-media-driven go-to-market approach, leveraging appearances on Nasdaq TradeTalks, Seeking Alpha coverage, Benzinga interviews, and YouTube content to attract income-focused retail and retirement investors. In June 2026, the firm strengthened its positioning by securing S&P 500 naming rights via a licensing agreement with S&P Dow Jones Indices and migrating TSPY's underlying holding from SPY to VOO, capturing approximately 6.45 basis points in annual cost efficiency.
TappAlpha firmographics
Firmographics- Name
- TappAlpha
- Legal name
- TappAlpha LLC
- Website
- https://tappalphafunds.com
- Company type
- Private
- Founded year
- 2024
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- TappAlpha is a Seattle-based private asset manager operating four ETFs (TSPY, TDAQ, TSYX, TDAX) that deploy a systematic daily 0DTE covered call strategy on S&P 500 (VOO) and Nasdaq-100 (QQQM) index ETF holdings, generating fee income at 0.68% of approximately $572M combined AUM from income-focused retail and retirement investors distributed through major US brokerages.
- Ownership category
- akta.pro rank
TappAlpha industry classification
Industry- Product category
- Exchange-Traded Funds (Asset Management)
- NAICS
- Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394), Open-End Investment Funds (525910)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Target-Risk / Risk-Managed Allocation Funds (FSAAAEAG)
- akta.pro secondary industry
- Multi-Asset & Allocation ETFs (Balanced, Target Risk) (FSAAAFAF)
Keywords
Where TappAlpha is headquartered
LocationHeadquarters
- HQ city
- Seattle
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
TappAlpha business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure, Others
Revenue model
- ETF Management Fees: TappAlpha earns management fees calculated as a percentage of total assets under management (AUM) across its ETF product suite. The primary revenue stream is the 0.68% annual management fee applied to combined fund assets totaling approximately $571M across TSPY, TDAQ, TSYX, and TDAX.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | TSPY - S&P 500 Growth & Daily Income ETF |
| Subscription | Annual | TDAQ - Innovation 100 Growth & Daily Income ETF |
| Subscription | Annual | TSYX - TSPY LIFT ETF (1.3x leveraged) |
| Subscription | Annual | TDAX - TDAQ LIFT ETF (1.3x leveraged) |
Go-to-market motion2 records
Distribution channels9 records
Marketing channels7 records
TappAlpha product offering
Product offeringCore offering
TappAlpha is the fund manager for a suite of four ETFs that employ a systematic, fintech-powered daily 0DTE covered call strategy on S&P 500 and Nasdaq-100 index-tracking holdings. The Core+ Series (TSPY, TDAQ) targets yield-enhanced core equity exposure, while the T² Lift™ Series (TSYX, TDAX) applies 1.3x leverage to those strategies via swap agreements. All funds sell to retail and institutional investors through major online brokerages with daily transparency of options trades.
Product overview
TappAlpha offers a suite of fintech-powered ETFs utilizing a Core+ Series strategy with systematic daily 0DTE covered call writing on major index-tracking ETFs. The Core+ Series includes TSPY (S&P 500 exposure via VOO) and TDAQ (Nasdaq-100 exposure via QQQM), both designed to generate income through theta decay while maintaining market exposure. The T² Lift Series (TSYX and TDAX) applies 1.3x leverage to the Core+ strategies for enhanced growth and income potential with weekly distributions. All funds use fintech-powered automated, rules-based overlays on the world's most trusted benchmarks (S&P 500 and Nasdaq-100).
Differentiator
Problem solved
Functional benefit
Brands
- Core+ Series: The original TappAlpha strategy offering TSPY (S&P 500) and TDAQ (NASDAQ-100) ETFs with systematic daily covered call approaches for income and market exposure.
- T² Lift Series
Products and services
- TSPY (TappAlpha S&P 500 Growth & Daily Income ETF) ETF providing S&P 500 exposure through VOO holdings, with systematic daily 0DTE covered call writing to generate income while maintaining market participation. Targets current income alongside prospects for capital appreciation. 0.71% total expense ratio.
- TDAQ (TappAlpha Innovation 100 Growth & Daily Income ETF) ETF providing Nasdaq-100 exposure through QQQM holdings, with systematic daily 0DTE covered call writing to generate income while maintaining market participation. Targets current income alongside prospects for capital appreciation. 0.83% total expense ratio.
- TSYX (TSPY LIFT ETF) Leveraged ETF providing 130% daily exposure to TSPY performance. Part of the T² Lift™ Series for investors seeking enhanced growth and income potential with higher risk tolerance and weekly distributions. 0.71% total expense ratio.
- TDAX (TDAQ LIFT ETF) Leveraged ETF providing 130% daily exposure to TDAQ performance. Part of the T² Lift™ Series for investors seeking enhanced growth and income potential with higher risk tolerance and weekly distributions. 0.83% total expense ratio.
Quantifiable outcome
- 14.75% 12-month trailing distribution yield for TSPY
- +6 more outcomes
Companies that use TappAlpha
Customer profileNamed customers6 records
Segments4 records
Ideal customer profiles4 records
TappAlpha technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability1 record
Feature4 records
TappAlpha partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and minor.
- S&P Dow Jones IndicescoreLicensing agreement for S&P 500 naming rights. TSPY renamed to 'TappAlpha S&P 500 Growth and Daily Income ETF' while maintaining ticker. The fund transitioned underlying holdings from SPY to VOO as part of this arrangement, resulting in approximately 6.45 basis points of annual cost savings for shareholders.
- Vanguard (VOO)coreTSPY holds Vanguard S&P 500 ETF (VOO) as its primary underlying holding, providing direct S&P 500 index exposure. Transitioned from SPY to VOO to reduce fund costs by 6.45 basis points.
- Invesco (QQQM)coreTDAQ holds Invesco Nasdaq 100 ETF (QQQM) as its primary underlying holding, providing direct Nasdaq-100 index exposure for the Innovation 100 strategy.
- Foreside Fund ServicescoreForeside Fund Services serves as the distributor for TappAlpha ETFs, handling regulatory compliance and fund distribution requirements. Foreside is a member of FINRA.
- First American Government Obligations FundminorTSPY, TDAQ, TSYX, and TDAX hold First American Government Obligations Fund for cash management, providing yield on uninvested assets while awaiting deployment.
Scale indicators16 records
Recent moves6 records
Expansion highlights5 records
TappAlpha competitors and assessment
Company assessmentEmerging players
- Amplify (Cboe-based ETFs): Smaller ETF issuer focused on thematic and income strategies, including Cboe-listed products that overlap with TappAlpha's Cboe-listed TDAQ and TDAX in distribution channels and target investors.
Direct peers
- Simplify (SVOL / SVD): Manages SVOL (Simplify Volatility Premium ETF) and other option-income strategies using VIX-related and covered call overlays, competing for the same income-focused ETF investor.
- YieldMax (XYLD / QYLD / XDTE): Operates a deep suite of option-income ETFs including XDTE, an S&P 500 0DTE covered call product directly comparable to TSPY, with similar yield targets and weekly distribution structures.
- Roundhill Investments: Active ETF sponsor with covered call and option-income products (e.g., QDTE for Nasdaq-100) that directly compete with TDAQ and T² Lift Series for the same income-and-growth retail audience.
- NEOS (SPYI / QQQI): ETF sponsor behind SPYI (S&P 500 High Income) and QQQI (Nasdaq-100 High Income), which are the most direct performance and yield competitors to TSPY and TDAQ in the daily covered call space.
- JPMorgan (JEPI / JEPQ): Issuer of JEPI (S&P 500) and JEPQ (Nasdaq-100) covered call income ETFs — the dominant incumbents in the exact category TappAlpha targets with TSPY and TDAQ, with similar yield-oriented mandates and monthly distributions.
Others
- Foreside Fund Services: TappAlpha's ETF distributor and a key operational partner; comparable as a peer only in the sense that any new ETF sponsor using a competing distributor would face a similar service ecosystem.
- Vanguard (VOO): Issuer of VOO, the underlying holding for TSPY; not a direct competitor but a strategic input — the cost, liquidity, and tracking accuracy of VOO directly drive TSPY's expense ratio and performance narrative.
Broad incumbents
- Global X (XYLD / QYLD competitor in covered call): Large ETF sponsor with the original covered call income products (XYLG, QYLG) on S&P 500 and Nasdaq-100; broader product portfolio but directly competing in the equity-income category.
- Allianz PIMCO (option-income ETFs): Established asset manager with structured option-income and multi-asset ETFs that compete at the institutional and advisor end of the same income-plus-equity-exposure segment TappAlpha targets.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
TappAlpha social profiles
Digital presenceTappAlpha financial estimates
Financial estimateRevenue estimate
Valuation estimate
TappAlpha leadership team
Management profileNumber of profiles
Profiles1 record
TappAlpha funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
TappAlpha M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about TappAlpha
What does TappAlpha do?
TappAlpha is the fund manager for a suite of four ETFs that employ a systematic, fintech-powered daily 0DTE covered call strategy on S&P 500 and Nasdaq-100 index-tracking holdings. The Core+ Series (TSPY, TDAQ) targets yield-enhanced core equity exposure, while the T² Lift™ Series (TSYX, TDAX) applies 1.3x leverage to those strategies via swap agreements. All funds sell to retail and institutional investors through major online brokerages with daily transparency of options trades.
Is TappAlpha a public or private company?
TappAlpha is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was TappAlpha founded?
TappAlpha was founded in 2024. It employs 1 to 10 people.
Where is TappAlpha based?
TappAlpha is headquartered in Seattle, United States, in the North America region.
How does TappAlpha make money?
One revenue line is on record: ETF Management Fees.
Who are TappAlpha's main competitors?
Amplify (Cboe-based ETFs) is listed as an emerging player. Direct peers are Simplify (SVOL / SVD), YieldMax (XYLD / QYLD / XDTE), Roundhill Investments, NEOS (SPYI / QQQI) and JPMorgan (JEPI / JEPQ). Others are Foreside Fund Services and Vanguard (VOO). Broad incumbents are Global X (XYLD / QYLD competitor in covered call) and Allianz PIMCO (option-income ETFs).
Does TappAlpha have an API?
No public API is recorded for TappAlpha.
What industry is TappAlpha in?
TappAlpha's product category is Exchange-Traded Funds (Asset Management). Its primary akta.pro industry code is FSAAAEAG, Target-Risk / Risk-Managed Allocation Funds, with a secondary code of FSAAAFAF, Multi-Asset & Allocation ETFs (Balanced, Target Risk). Its NAICS code is 523940 and its SIC code is 6282.