$FOTO vs $LYTE

The short version

LYTE is cheaper to own, at 0.65% a year versus 0.75%. LYTE is the bigger fund, with $343M in assets. FOTO has been around longer, launching on May 29, 2026.

FOTO

The Tuttle Capital Pure Play Photonics ETF targets companies whose business is built around photonics: optical components, lasers, optical networking gear and the manufacturers behind them. Recent holdings have included names such as Lumentum, Coherent, Ciena, IPG Photonics and Fabrinet. FOTO gets part of its exposure through total return swaps and holds a meaningful slice of cash and Treasury bills alongside those swaps, so its holdings list looks different from a plain stock basket. Check the issuer's latest holdings file to see how exposure is split between shares and swaps.

LYTE

The Roundhill Photonics & Optics ETF focuses on the optical side of the AI infrastructure build: optical interconnects, lasers and photonic chips that move data with light inside AI data centers. At launch its top holdings included Lumentum, Coherent, Ciena and Fabrinet, plus China-listed optical module makers such as Eoptolink and Zhongji Innolight. A concentrated top ten and a large weight in China-listed optical module makers mean LYTE can move very differently from a broad semiconductor fund. Position sizes can change quickly in an actively managed fund.

Lower fees and more assets are helpful, but they are not the whole story. The bigger question is which strategy matches what you want to own. This comparison is not a recommendation to buy or sell either fund.