Tom Lee's Next Move: Small-Cap And JEPI-Style Income ETFs Join GRNY

Fundstrat Capital is doubling down on its “Granny Shots” ETF strategy following the success of its first fund, which became one of the fastest-growing products in 2025.

Tom Lee, co-founder and chief investment officer of Fundstrat, is filing to introduce two additional ETFs. Based on an initial SEC prospectus, the offerings are:

Fundstrat Granny Shots U.S. Small- & Mid-Cap ETF – An actively managed fund aiming at long-term capital growth through small- and mid-cap stocks.

Fundstrat Granny Shots U.S. Large Cap & Income ETF – Aimed at producing current income along with capital appreciation, with exposure to large-cap stocks plus an options-writing strategy.

The income ETF is poised to compete in a crowded yet well-liked space dominated by the likes of the JPMorgan Equity Premium Income ETF JEPI.

The Fundstrat Granny Shots U.S. Large Cap ETF GRNY, introduced in November of last year, has already attracted $2.1 billion in net inflows and risen to $2.3 billion in assets due to price appreciation. The actively managed fund, which combines macro calls with quantitative stock screens, has returned 15.4% year-to-date through August 21, easily outperforming the Vanguard S&P 500 ETF‘s VOO 9.2% return. GRNY is up 14.2% since its inception, compared with VOO’s 7.8%.

“Our first ETF, Granny Shots Large-cap ETF is an astonishing success, gathering $2.3 billion in assets in just 9 months. We have been asked to offer additional ETF products including making our Fundstrat SMID Granny Shots into a tax efficient ETF and also offer a Granny Shots income-oriented product. We listen to our clients and these are very complementary to our flagship Granny Shots ETF,” said Lee.

The filings represent Fundstrat’s effort to establish a more comprehensive product line centered on its “Granny Shots” thematic process, to capture investor demand across market-cap segments and yield-based strategies.

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