TappAlpha Innovation 100 Growth & Daily Income ETF
$27.44−0.10 (−0.36%)
- 0.68%
- $446M
- +27.2%
- 0.4M sh
- $27.69
- low $22.70high $29.51
The ETF.net TDAQ Grade
B
Score 67 out of 100
- 10 of 31
Score 67 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.C53 out of 100Rank 14 of 31Mission
Whether the fund did what it promised, tested against its stated mandate.A100 out of 100Rank 1 of 19Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D36 out of 100Rank 23 of 30Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B68 out of 100Rank 8 of 31Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A80 out of 100Rank 4 of 23Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C51 out of 100Rank 16 of 31
Our read on TDAQ
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.
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
- An 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
- Because 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
- Options premium is harvested daily and paid out monthly, the cadence the fund has run since its 2025 launch.tappalphafunds.com
Worth knowing
- Fees 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%.
- Same-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
- It 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 Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
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TDAQ$12,720
Returns run to the Oct 12, 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.
| Period | TDAQ |
|---|---|
| Year to date | +20.1% |
| 1 month | +4.0% |
| 3 months | +3.0% |
| 1 year | +27.2% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | TDAQ |
|---|---|---|
| 2026 YTD | +20.1% | |
| 2025 | +8.9% |
TDAQ in the news
TDAQ Dividends
- $0.38 per share
- Monthly
Distribution data unavailable.
Distribution history
TDAQ Risk
- 20.8%
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.
- 0.93
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.
- −11.7%
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.
- 1.41
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
0.68%
TDAQ0.68%
- The middle half of Nasdaq-100 Option Income funds
- Median 0.71%
12 of the 30 Nasdaq-100 Option Income funds charge less.
Other funds in Nasdaq-100 Option Income
- AROCQJPMorgan Nasdaq Equity Premium Yield ETFExpense ratio 0.35%1 year return —
- AFTQIFirst Trust Nasdaq BuyWrite Income ETFExpense ratio 0.75%1 year return +23.2%
- BIQQQProShares - Nasdaq-100 High Income ETFExpense ratio 0.55%1 year return +20.8%
- BQRMIGlobal X - Nasdaq 100 Risk Managed Income ETFExpense ratio 0.60%1 year return +9.5%
- BHEQQJPMorgan Nasdaq Hedged Equity Laddered Overlay ETFExpense ratio 0.50%1 year return +10.8%