Gotham Enhanced 500 ETF

Frequently Asked Questions About GSPY

What does GSPY invest in?

The Gotham Enhanced 500 ETF (GSPY) is an actively managed exchange-traded fund. Its primary goal is to meet its investment objective by primarily allocating capital to the stocks of companies found within the S&P 500 Index. Crucially, this is not a traditional passive index fund; instead, it employs an "enhanced" investment strategy. This approach is executed by the fund's investment sub-adviser, who selects holdings from the S&P 500. However, rather than strictly mirroring the index, they adjust the proportion of each security based on a dual assessment: the sub-adviser's own valuation of each company and its existing representation within the broader S&P 500 index.

What is the expense ratio of GSPY?

Gotham Enhanced 500 ETF (GSPY) charges an expense ratio of 0.65%. This is the annual fee deducted from fund assets to cover management and operations.

What is GSPY's distribution yield?

GSPY's trailing-twelve-month yield is 2.27%, calculated from the sum of distributions over the past year divided by the current price.

How does GSPY's covered-call strategy work?

GSPY sells call options against the stocks (or index) it holds, collecting premium income that gets passed through to shareholders as distributions. The strategy generates above-market income in flat or rising markets but caps upside. When the underlying rallies past the strike, the gains above the strike go to the option buyer, not the fund.

How big is GSPY?

Gotham Enhanced 500 ETF (GSPY) manages $714.6M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation.

Is GSPY actively managed or an index fund?

GSPY's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.