If you’re building an income-first portfolio for retirement—and you still want meaningful equity exposure—there aren’t many products that try to do both every single trading day. The TappAlpha SPY Growth & Daily Income ETF (TSPY) is one of the rare funds attempting that balancing act: it owns the S&P 500 via SPY exposure and writes daily out-of-the-money, zero-days-to-expiration (0DTE) covered calls to harvest option premiums for cash flow. The result: a double-digit, ~13% trailing yield with built-in participation in large-cap U.S. equities. tappalphafunds.com +2 dividend.com +2 Below is a practical deep-dive on what TSPY does, where that income actually comes from, the trade-offs you’re making to earn it, how it stacks up against popular income peers, and how a retiree could sensibly implement it. The elevator pitch What it is: An actively managed ETF that seeks income and growth by holding SPY exposure and selling daily 0DTE covered calls to generate option prem...