Infrastructure Capital launches SPYC, an active S&P 500 option-income ETF for Europe

Infrastructure Capital has launched SPYC, an actively managed S&P 500 option-income ETF aimed at European investors and wrapped as a UCITS.

Founder Jay Hatfield told ETF Express the firm manages roughly $4 billion, and SPYC joins NUKZ and PFFI in the lineup. The fund is an active strategy that tracks the S&P 500 with an option-income overlay.

T. Rowe Price is separately taking its first European active ETFs to market, two Irish-domiciled equity strategies carrying a zero first-year fee. They list on Xetra on 8 October, in London on 15 October and on Borsa Italiana on 22 October.

Both rollouts sell active US equity management into Europe, but they lead with different levers. T. Rowe Price is discounting the first year of ownership. SPYC's option-income overlay points to buyers who want income from the S&P 500 rather than a straight tracking product, though the reporting does not describe its target audience beyond European investors.

SPYC's expense ratio does not appear in the coverage, so the two launches can be compared on structure, wrapper and stated entry price, but not on ongoing cost.