Tuttle Capital Management has launched the actively managed Tuttle Capital Innovation 100 Income and Hedge ETF (QQDH). The fund holds Nasdaq-100 exposure mainly through the Invesco QQQ Trust (QQQ), with at least 80% of net assets in QQQ or QQQ-linked options, and does not write calls, so its upside is not capped at a covered-call strike. It seeks income by selling put credit spreads and each business day puts on a hedge using options that expire the next trading day, designed mainly for short, sharp declines; the hedge may not help in a gradual decline and can add to losses in a modest one. The total annual operating expense ratio is 0.95%. Portfolio manager Matthew Tuttle stressed that each of the three components can lose money and that distributions are not guaranteed.
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