Best TDAX Alternatives in 2026

This category of Nasdaq-100-linked income funds centers on covered call and derivative-income strategies designed to generate high yields from technology-heavy underlying exposure. JEPQ from JPMorgan dominates by size among the funds shown above at $44.5B in AUM, far exceeding the other nine funds listed, which range down to $194M for QQQY. The category includes a mix of monthly and weekly distribution schedules, with issuers like NEOS, Global X, and Goldman Sachs offering competing approaches to extracting premium income from Nasdaq-100 exposure, often through 0DTE (zero days to expiration) options strategies as seen in QDTE.

• QQQY shows the highest yield among the funds shown above at 30.49%, paired with the highest expense ratio in this set at 1.01%.
• GPIQ carries the lowest expense ratio among the top 10 shown at 0.29%, while also posting a relatively modest 10.49% yield.
• IQQQ stands out with the lowest yield in this group at 6.23%, notably below the category average of 14.24%.
• AUM is heavily concentrated at the top, with JEPQ alone accounting for roughly half of the combined assets visible across the top 10 funds shown.
• Among weekly-distribution funds shown, QDTE (19.89% yield, 0.96% ER) and QQQY (30.49% yield, 1.01% ER) both carry higher expense ratios than most monthly-pay peers in this set.

Covered call and derivative-income ETFs typically generate high stated yields partly through options premium and return of capital, which can cap upside participation during strong market rallies and may not reflect total return performance. Expense ratios in this category, averaging 0.66%, run meaningfully higher than plain index funds, a cost that compounds over time. Investors reviewing this category might consider how distribution frequency, strategy mechanics (such as 0DTE options), and expense ratios interact with the underlying Nasdaq-100 concentration risk before forming conclusions about suitability.

• Strategy mismatch: several funds on this list track a different index or use a different income mechanism than TDAX, so swapping into one changes the exposure — upside participation, payout cadence, and tax character can all shift, not just the ticker.
• Capped upside: covered-call and option-overlay funds in this group keep the option premium in a rally but surrender gains above the strike, so they can trail the very index they write options against.
• Distribution sustainability: the average distribution rate here is 14.2%, and payouts at that level often include return of capital — when distributions persistently exceed total return, NAV erodes and shrinks the base that generates future income.
• Single-index dependence: most funds here are built on the same Nasdaq-100 exposure, so they rise and fall together and share that index's concentration in its largest constituents — holding several of them does not diversify the underlying index risk.
• Expense drag: expense ratios in this group average 0.66% — several times what broad index funds charge — and that cost compounds directly against total return.

• Universe: a hand-curated peer set, split into close peers (11 here — same core exposure and same income mechanism, so a like-for-like swap) and broader substitutes (a different index, underlying asset, or income mechanism). Every fund is labelled in the Strategy fit column; TDAX itself is excluded.
• Eligibility: active ETFs only — liquidated, delisted, and renamed funds drop out automatically. Leveraged and inverse products are never listed: a daily-reset 2x or -1x fund is not an alternative to a long income position.
• Ranking: assets under management, used only as a fund-size ranking. Never ranked by yield — yields are shown as data, not used to order the list.
• Fit: how each fund's strategy differs from TDAX — and who each one suits — is covered in the strategy notes and FAQ below.