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SIOO
VistaShares Target 15 S&P 100 Distribution ETF
Tidal Investments LLC (Adviser); VistaShares Advisors LLC (Sub-Adviser)
Verdict
WATCH
Weighted score · 3.30 / 5
Fund Identity
What it is, who runs it, where it lives.
The Fund seeks current income and long term capital appreciation..
The Fund is an actively managed ETF with two components: (1) an Index Strategy that invests directly or indirectly (including synthetically via options and swaps) in equity securities comprising the S&P 100 Index, and (2) an Options Strategy that sells (writes) options on those underlying securities to generate premiums. Through the Options Strategies, the Fund targets an annual distribution rate of 15%. The Fund also maintains an allocation to cash and/or short-term U.S. Treasury securities as collateral for derivatives transactions.
Ticker
SIOO
Issuer
Tidal Investments LLC (Adviser); VistaShares Advisors LLC (Sub-Adviser)
Exchange
ARCX
Inception
2025-12-11 · 0.5 yrs
Mgmt style
Active
Replication
Physical (full replication) or Synthetic (swap-based/options) at sub-adviser discretion; fund may hold direct equities, ETFs tracking the index, or synthetic exposure via options and swaps
Index-based
— · S&P 100 Index
Leverage
None
Strategy & Options Mechanics
How the portfolio is built and where the income comes from.
PORTFOLIO
Hybrid
actively managed
OPTIONS OVERLAY
Strategy
Covered call spreads (selling a call while buying a higher-strike call); also general premium-selling (writing options); synthetic long exposure via in-the-money short-dated call options and/or buying calls/selling puts at identical strikes
generates income
Underlying
S&P 100 Index constituent equities (Underlying Securities), the S&P 100 Index, and/or ETFs tracking the Index
income exposure
MONTHLY
7.5%
DIST. RATE
98% ROC
Ordinary Income
Ordinary Income
Underlying
S&P 100 Index constituent equities (Underlying Securities), the S&P 100 Index, and/or ETFs tracking the Index
Strategy
Covered call spreads (selling a call while buying a higher-strike call); also general premium-selling (writing options); synthetic long exposure via in-the-money short-dated call options and/or buying calls/selling puts at identical strikes
Tax
Ordinary Income
The Fund primarily employs covered call spreads to generate premiums targeting a 15% annual distribution rate. It also uses short-dated in-the-money call options synthetically to replicate underlying security exposure. Distributions may include a significant portion classified as return of capital.
Performance & NAV
Total return vs. the underlying, with drawdown context.
NAV HISTORY · DEC '25 – JUN '26
DEC '25JUN '26
Flat-NAV reinvestment hurdle
16.2%
Share of each distribution you’d need to reinvest just to hold NAV flat. Higher means more of the yield is your own capital coming back.
Distribution & Tax
Where the yield comes from — and how it’s taxed.
Composition · Recent Distribution
98%
ROC
Return of Capital — mixed98%
Net Investment Income2%
Frequency
Monthly
Dist. rate
7.47%
ROC %
98%
30-day SEC
not reported
Consistency
3 w/o cut
YOC · 1yr-ago buyer
7.4%
Tax Treatment — Ordinary Income
ORDINARY INCOME
Distribution Composition (Recent)
ROC is not free money — it lowers your cost basis. When shares are sold, capital gains are computed against the lower basis.
Composition · Narrative
The April 28, 2026 distribution of $0.24650 per share for the VistaShares Target 15 S&P 100 Distribution ETF (SIOO) is composed almost entirely of Return of Capital at 98.06% ($0.24173), with only 1.94% ($0.00477) coming from Net Investment Income. No capital gains are included in this distribution.
Distribution & Return of Capital
Per-month payout split and the running return-of-capital share · last 3 months.
DIST ($/sh)ROC %
Return of capital ($/sh)
Net investment income ($/sh)
Monthly ROC %
Calendar-year ROC (YTD est.)
Distribution Growth & Schedule
Per-period growth of the payout, the latest schedule, and how long distributions take to repay NAV.
Distribution Growth by Lookback Period
Latest Distribution Schedule
Record date
2026-05-26
Ex-dividend
2026-05-26
Pay date
—
Payback Period
13.4 yr
Dist. Since Incep.
$1.5
Holdings & Concentration
Position sizing, top-name weights, and concentration risk.
Sector Mix · Tilt vs S&P 500
No sector feed for this fund.
Holdings
110
Top-10 Wt.
—
Technical Signal & Liquidity
Moving-average posture and a read on tradability.
Price vs. Moving Averages
No moving-average series.
Price $19.79
50-DMA $—
200-DMA $—
Liquidity
Avg daily volume
15K
Avg dollar volume
$285,031
Bid/ask spread
0.35%
Premium/discount
+0.35%
Turnover
—
Estimated bid/ask spread ~0.18% (moderate). Average daily dollar volume ~$0.3M (thin). This spread is a high-low estimate, not a live quote; the issuer's reported median spread and premium/discount to NAV are shown above when available.
Assets Under Management
Trend: Falling. Source: shares×price (Massive, monthly).
AUM ($)
$5M
$15M$9M$3M
DEC '25JUN '26
SOURCES Massive market-data API, SEC EDGAR filings, issuer disclosures.
SIOO · 2026-06-22
Prepared by denvereyon
Research aid, not investment advice.
Prepared by denvereyon
Research aid, not investment advice.
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