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TDAQ

GradeBChicago Board Options Exchange

TappAlpha Innovation 100 Growth & Daily Income ETF

Option Income · TappAlpha · Inception 2025-09-04

$27.32−0.30 (−1.10%)

As of Sep 23, 2026, 2:18 PM EDT

History starts Sep 4, 2025.
Intraday session: down, 58 prints from 27.62 to 27.32. Range 27.22 to 27.56. Use the arrow keys to read each point.$27.20$27.40$27.50$27.6010 AM12 PM2 PM4 PM
Expense ratio
0.83%
Fund size
$373M
1Y return
+25.0%
Yield · Last 12 months
Data unavailable
Holdings
3
Volume · 30D
0.3M sh
NAV per share
$27.41
52W range
low $22.70high $29.51

The ETF.net TDAQ Grade

B

57/ 100

Rank 13 of 31 in Nasdaq-100 Option Income⁠

Confidence High

Six-pillar profile for TDAQ. Scores out of 100: Cost 33, Risk 37, Mission 100, Tradability 77, Holdings 33, Durability 51. Strongest: Mission (100). Weakest: Holdings (33). Leans toward Mission.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 57 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    DScore 33
    Category rank21/31 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 100
    Category rank6/19 · top 32%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 37
    Category rank23/30 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 77
    Category rank4/31 · top 13%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    DScore 33
    Category rank22/23 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 51
    Category rank17/31 · mid-pack

Graded as of Sep 22, 2026

Our read on TDAQ

ETF.net Research

BMost Nasdaq-100 income funds sell calls a month at a time. TDAQ holds QQQ and writes out-of-the-money calls each morning that expire the same day, harvesting same-day premium and resetting its upside cap daily. Income lands monthly.

Stated mandate

The actively managed ETF seeks current income and capital appreciation through a long QQQ position combined with short call options. It sells out-of-the-money calls each day, generally with zero days to expiration.

Why people hold it

  1. 01An actively managed long QQQ position with out-of-the-money calls written each trading day, generally expiring that day. The upside cap resets each morning, not once a month.tappalphafunds.com
  2. 02Because the calls sit out of the money, the fund keeps room to follow QQQ higher up to the strike before the overlay starts trading away gains.tappalphafunds.com
  3. 03Options premium is harvested daily and paid out monthly, the cadence the fund has run since its 2025 launch.tappalphafunds.com

Worth knowing

  1. 01Fees run 0.83% a year, above the 0.74% median for Nasdaq-100 options-income funds and well above scaled rivals like JEPQ and GPIQ at 0.35%.
  2. 02Same-day options are sensitive to sudden moves and can trade at wider spreads, so morning-by-morning execution matters more here than in a monthly-call fund.finance.yahoo.com
  3. 03It launched in September 2025, so the live record is short, and it reaches the Nasdaq-100 by holding QQQ rather than the 100 stocks directly.

TDAQ Holdings

As of Sep 20, 2026, 10:15 AM
Asset class
Stocks
Holdings
3
Top-10 weight
100%
Largest holding
QQQM100.0%

Sectors

Geography

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001QQQMInvesco Nasdaq 100 ETF99.97%1,223,449$363M12
002—Cash & Other0.22%782,413$782K674
003—First American Government Obligations Fund 12/01/20310.09%329,672$330K625

Showing 1–3 of 3 holdings

TDAQ Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

TDAQ$12,500
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. TDAQ $12,500. SPY $11,723. Use the arrow keys to read each point.$9,207$10,990$12,773Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for TDAQ. Periods over one year show the average yearly return.
PeriodTDAQ
Year to date+20.4%
1 month+4.5%
3 months+1.9%
1 year+25.0%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for TDAQ
YearReturn barTDAQ
2026 YTD+20.4%
2025+8.9%

Since listing, Sep 4, 2025

TDAQ in the news

ETF.net Research hasn’t filed on TDAQ yet — coverage lands here as it’s written.

TDAQ Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.38 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 12 payments from 2025 to 2026 YTD. Oct 21, 2025 $0.38; Nov 18, 2025 $0.37; Dec 16, 2025 $0.37; Jan 20, 2026 $0.38; Feb 17, 2026 $0.36; Mar 17, 2026 $0.35; Apr 14, 2026 $0.35; May 19, 2026 $0.38; Jun 16, 2026 $0.40; Jul 14, 2026 $0.39; Aug 18, 2026 $0.39; Sep 15, 2026 $0.38. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Sep 15, 2026Sep 16, 2026$0.38
Aug 18, 2026Aug 19, 2026$0.39
Jul 14, 2026Jul 15, 2026$0.39
Jun 16, 2026Jun 17, 2026$0.40
May 19, 2026May 20, 2026$0.38
Apr 14, 2026Apr 15, 2026$0.35
Mar 17, 2026Mar 18, 2026$0.35
Feb 17, 2026Feb 18, 2026$0.36
Jan 20, 2026Jan 21, 2026$0.38
Dec 16, 2025Dec 17, 2025$0.37
Nov 18, 2025Nov 19, 2025$0.37
Oct 21, 2025Oct 22, 2025$0.38

TDAQ Risk

How much the fund’s monthly returns vary, scaled to a year.
—
No data available
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
No data available
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−11.7%
12 months · trough Jul 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.44
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

TDAQ Cost

Expense ratio0.83%
  • The middle half of Nasdaq-100 Option Income funds
  • Median 0.74%

20 of the 31 Nasdaq-100 Option Income funds charge less.

TDAQ costs $83.00 a year on $10,000. The median Nasdaq-100 Option Income fund costs $74.00.