QQA vs TDAQ

QQAAInvesco QQQ Income Advantage ETF

TDAQBTappAlpha Innovation 100 Growth & Daily Income ETF

In short

QQA Most Nasdaq-100 income funds write calls on the whole portfolio. QQA overlays options on roughly half, pairs covered calls with cash-secured puts, and ladders them, so a chunk of the index upside stays uncapped.

TDAQ TDAQ resets daily: it holds the Nasdaq-100 through an index ETF and sells out-of-the-money calls that generally expire the same day, turning part of the index's upside into monthly income.

Stated mandate

QQA Actively managed QQA combines Nasdaq-100 equity exposure with an options-income overlay. It seeks consistent monthly income, long-term capital growth, and lower volatility without leverage.

TDAQ 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

• QQA The income sleeve covers roughly 50% of the portfolio; the rest stays uncapped Nasdaq-100. Premium comes from both covered calls and cash-secured puts, not calls alone.invesco.com
• 0.29% net of a waiver through August 31, 2027 (0.33% gross), below the category median. GPIQ matches at 0.29%, also net of a waiver, through April 30, 2027; QYLD charges 0.60%, JEPQ 0.35%.
• Options are added and rolled on a schedule rather than set all at once, which spreads entry points instead of pinning the month's income to a single expiry.invesco.com
• Actively managed, so strikes and coverage can move with market conditions, and it pays monthly.

• TDAQ Each short call generally expires the same day, so the cap resets every morning; the prospectus says daily options track the underlying more closely than longer-dated overwrites.sec.gov
• Premium comes in every session and goes out monthly. Strikes are set by an active manager each day rather than locked into one monthly expiry.
• Does what it says on the tin: long Nasdaq-100 exposure plus daily out-of-the-money calls, and it sits in the upper half of its Nasdaq-100 income peer group.

Worth knowing

• QQA The flip side of premium: upside on the covered portion is capped, so a fast Nasdaq-100 rally is one this fund is built to lag.invesco.com
• No declared target yield. Monthly payouts ride on option premiums, which rise and fall with volatility.
• Mid-sized and moderately traded next to the category's largest names, so spreads can widen. Limit orders earn their keep.

• TDAQ At 0.68% with no waiver, the fee sits near the category median; cheaper builds exist, like GPIQ at 0.29% net of a waiver through April 30, 2027, and JEPQ at 0.35%.
• Selling calls hands over gains above the strike. Daily resets shorten how long that cap binds, but the income still comes out of upside.sec.gov
• A September 2025 launch means a short track record, and premiums (so the monthly payout) rise and fall with volatility on a concentrated, tech-heavy index.

Full QQA profile⁠

Full TDAQ profile⁠