ETF Comparison

GPIQ vs TDAQ: Which Is the Better Pick in 2026?

A head-to-head comparison of Goldman Sachs Nasdaq-100 Core Premium Income ETF and TappAlpha Innovation 100 Growth & Daily Income ETF covering yield, cost, risk, and income potential.

Data updated August 26, 2026

Best for

GPIQInvestors who are comfortable trading away most upside for a large, steady payout.
TDAQInvestors who want to maximize current income — roughly 17.72%, generated by selling options premium.

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Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

GPIQ has lagged TDAQ over the trailing twelve months, posting a 23.07% total return against 24.73%. Measured from Sep 2025 — when the younger fund began trading — TDAQ has compounded at 25.44% a year versus 22.54% for GPIQ. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
Symbol	YTD	1Y	Since Sep 2025	Volatility	Sharpe	Sortino	Max drawdown
GPIQ	13.97%	23.07%	22.54%	16.9%	0.96	1.37	-10.2%
TDAQ	14.67%	24.73%	25.44%	19.4%	0.94	1.33	-11.7%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 26, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Sep 2025” measures every fund from September 4, 2025 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the past year. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the past year) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
Metric	GPIQ	TDAQ
Full name	Goldman Sachs Nasdaq-100 Core Premium Income ETF	TappAlpha Innovation 100 Growth & Daily Income ETF
Issuer	Goldman Sachs	TappAlpha
Last Close	$56.50 as of August 26, 2026	$26.62 as of August 26, 2026
Distribution yield	10.33%	17.72%
Distribution Safety Score™	84	79
Expense ratio	0.29%	0.83%
AUM	$5.47B	$314M
Distribution frequency	Monthly	Monthly
Underlying index	Nasdaq-100	Invesco QQQ Trust (QQQ)
Objective	Seeks current income while maintaining prospects for capital appreciation by investing at least 80% of net assets in companies included in the Nasdaq-100 and selling call options with exposure to the benchmark.	The TappAlpha Innovation 100 Growth & Daily Income ETF (the "Fund") seeks current income while maintaining prospects for capital appreciation. The Fund’s secondary investment objective is to seek exposure to the performance of the Invesco QQQ Trust, Series 1 ("QQQ"), subject to a limit on potential investment gains.
Asset class	Equity	Equity
Inception date	10/24/2023	09/04/2025
Beta	1.0964	1.287
Last dividend	$0.4862	$0.3930
Ex-dividend date	08/03/2026	08/18/2026

Bottom lineChoose GPIQ if you are comfortable trading away most upside for a large, steady payout. Choose TDAQ if you want to maximize current income — roughly 17.72%, generated by selling options premium. There's no free lunch: TDAQ's payout comes from selling options, which caps upside and can erode the share price over time, while GPIQ keeps full price exposure.

How the risk works

Read this before the income numbers below: the strategy mechanics on this page shape what those payouts can cost you.

Capped upside and premium dependence. GPIQ and TDAQ generate income by selling options, which trades away part of a strong rally in exchange for premium. Distributions can include return of capital, and a payout the underlying assets cannot sustain shows up as NAV erosion over time — the big yield number is not free.

Learn the mechanics: Return of capital, explained · NAV erosion, explained

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Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

Goldman Sachs

ETFs47

Total AUM$66.6B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Goldman Sachs operates a 15-fund ETF lineup spanning diverse asset classes including bonds, commodities, factor-based strategies, income-focused funds, and international equities. The issuer is known for its specialized offerings in income generation and factor investing, with popular tickers including GSIE (a U.S. equity income fund) and GBIL (a short-duration bond fund). Their fund families emphasize both traditional index-based approaches and actively managed strategies across fixed income, commodities, and international markets.

See our curated list of related YouTube videos on GPIQ.

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TappAlpha

ETFs5

Total AUM$714M

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

TappAlpha operates a focused ETF lineup of four funds organized around two main families: Growth & Daily Income and T² Lift Series. The company's fund offerings span growth-oriented strategies and daily income approaches, with ticker symbols including TDAQ, TDAX, TSPY, and TSYX that target investors seeking regular income generation or equity growth exposure. As a smaller, specialized ETF provider, TappAlpha positions itself in a niche segment of the ETF market focused on daily income strategies and differentiated growth approaches.

See our curated list of related YouTube videos on TDAQ.

See all TappAlpha ETFs

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Quick verdict

GPIQ (Goldman Sachs Nasdaq-100 Core Premium Income ETF) and TDAQ (TappAlpha Innovation 100 Growth & Daily Income ETF) are both monthly-pay dividend ETFs, but they take different approaches.

TDAQ offers the higher yield at 17.72% vs 10.33% for GPIQ. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

GPIQ is cheaper with an expense ratio of 0.29% compared to 0.83%.

They track different benchmarks: GPIQ is linked to Nasdaq-100 while TDAQ tracks Invesco QQQ Trust (QQQ), which means their performance drivers differ.

GPIQ is the larger fund by assets ($5.47B), which generally means tighter spreads and better liquidity.

Who should choose each?

Choose GPIQ

Goldman Sachs Nasdaq-100 Core Premium Income ETF

Are comfortable with an options-income strategy — a large payout in exchange for capped upside.
Want to keep costs low — a 0.29% expense ratio vs 0.83% for TDAQ.
Prefer lower volatility — a beta of 1.1 vs 1.3 for TDAQ.

Choose TDAQ

TappAlpha Innovation 100 Growth & Daily Income ETF

Want to maximize current income — TDAQ distributes roughly 17.72% from selling options premium, vs 10.33% for GPIQ.
Are comfortable with an options-income strategy — a large payout in exchange for capped upside.

Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.

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Deep dive

Yield & income

On a $10,000 investment, GPIQ would generate roughly $86.08/month, while TDAQ would produce $147.67/month, at current distribution rates. Both pay monthly distributions.

GPIQ yield10.33%

TDAQ yield17.72%

Monthly diff on $10K$61.58

Cost & efficiency

Over 10 years on $10,000, GPIQ would cost approximately $290 in fees vs $830 for TDAQ (simplified, not compounded). The $540.00 difference may be offset by yield or performance.

GPIQ ER0.29%

TDAQ ER0.83%

Strategy & risk

Both GPIQ and TDAQ wrap NASDAQ 100 with options-based income overlays (covered call and growth). The practical differences are yield target, fee structure, and issuer track record — not the underlying mechanic. Beta is 1.0964 for GPIQ and 1.287 for TDAQ, making GPIQ the less volatile of the two by this measure.

GPIQ beta1.0964

TDAQ beta1.287

Fund details

GPIQ is managed by Goldman Sachs (launched 10/24/2023) with $5.47B in assets. TDAQ is managed by TappAlpha (launched 09/04/2025) with $314M in assets.

GPIQ AUM$5.47B

TDAQ AUM$314M

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Frequently asked questions

What is the current distribution yield for GPIQ and TDAQ?

GPIQ currently distributes 10.33% and TDAQ 17.72%, based on fund data updated August 2026. Distribution yield moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is GPIQ or TDAQ better for dividend income?

It depends on your goals. TDAQ currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.

What is the difference between GPIQ and TDAQ?

Both GPIQ (Goldman Sachs Nasdaq-100 Core Premium Income ETF) and TDAQ (TappAlpha Innovation 100 Growth & Daily Income ETF) track NASDAQ 100 with options-based income strategies — the labels "covered call" and "growth" describe closely related mechanics (covered calls are a specific type of options strategy). The real differences show up in yield target (10.33% vs 17.72%), expense ratio (0.29% vs 0.83%), and issuer (Goldman Sachs vs TappAlpha).

Can I hold both GPIQ and TDAQ?

You can, but expect significant overlap. Both funds use options-based income strategies on NASDAQ 100, so holding them together gives you two wrappers around effectively the same exposure — not true diversification. Weigh issuer, fee, and yield differences rather than treating them as complementary.

Is GPIQ or TDAQ safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — GPIQ scores 84, TDAQ scores 79, so GPIQ's payout currently looks the more resilient of the two. GPIQ has also shown lower price volatility (beta 1.10 vs 1.29 for TDAQ). No score makes an investment risk-free — treat this as a screening signal, not a guarantee, and the leverage, options-income, or crypto caveats flagged on this page apply regardless of score.

Which has lower fees, GPIQ or TDAQ?

GPIQ has an expense ratio of 0.29% while TDAQ charges 0.83%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in GPIQ vs TDAQ generate?

At current rates, $10,000 in GPIQ would generate roughly $86.08 per month ($1,033.00 annually). The same in TDAQ would produce about $147.67 per month ($1,772.00 annually).

Which has performed better historically, GPIQ or TDAQ?

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GPIQ vs TDAQ — at a glance

Generated August 15, 2026.

Figures quoted in this analysis are from its generation date and may lag the live snapshot table above, which always shows the latest data.

Overview

GPIQ and TDAQ are both equity ETFs that generate income by holding Nasdaq-100–exposed tech stocks and selling call options against them. GPIQ tracks the Nasdaq-100 directly and distributes 10.12% annually; TDAQ holds QQQ (the Invesco Nasdaq-100 tracking trust) and distributes 16.88%. The key distinction is their option-selling intensity: TDAQ uses 0DTE (zero days-to-expiration) options to generate higher yields, while GPIQ employs a more traditional covered-call approach with longer-dated strikes.

How they differ

TDAQ's 0DTE strategy generates a materially higher yield—16.88% versus GPIQ's 10.12%—by rolling ultra-short-dated call options daily, which captures more premium per unit time but introduces daily reset risk and tighter management windows. GPIQ holds the Nasdaq-100 constituents directly with a 0.29% expense ratio, while TDAQ holds QQQ (itself a fund) at a higher 0.71% cost, layering one fund on top of another. TDAQ carries a significantly higher beta of 1.287 compared to GPIQ's 1.0964, suggesting its daily option resets and synthetic structure amplify market swings. GPIQ launched in October 2023 with $5.37B in AUM, establishing a track record; TDAQ is newer (September 2025) and much smaller at $289M, making it an unproven strategy with liquidity considerations.

Who each is best for

GPIQ: Fits investors seeking steady monthly income from large-cap tech exposure without frequent portfolio churn, who can tolerate a 10%+ yield and are comfortable holding a covered-call ETF with established AUM and a longer operational history.

TDAQ: Fits investors who prioritize maximum current yield from similar tech exposure and are willing to accept daily option-roll mechanics, higher expenses, and significantly less capital deployed in the fund in exchange for a 16%+ distribution rate.

Key risks to know

NAV erosion from unsustainable yields. TDAQ's 16.88% distribution rate likely exceeds the Nasdaq-100's long-term total return, suggesting regular return-of-capital treatment and gradual principal decay if market gains don't materialize; GPIQ's 10.12% yield also carries this risk but at a lower severity.

0DTE option assignment and market-gap risk. TDAQ's daily roll-over exposes it to overnight gaps and weekend risk—if the market jumps above a call strike before it can roll, shares are called away at a loss; GPIQ's longer-dated calls reduce this friction.

Concentration and sector volatility. Both track Nasdaq-100 constituents (heavily weighted to mega-cap software, semiconductors, and cloud infrastructure), magnifying downside if large-cap tech enters a drawdown; their betas above 1.0 confirm they amplify broad-market swings.

Liquidity and fund-on-fund inefficiency. TDAQ's $289M AUM and newer inception date mean tighter spreads and lower trading volume; holding QQQ introduces an additional fund fee layer and tracking error versus direct stock exposure.

Option-selling cap on upside. Both funds' call sales cap gains in strong rallies; TDAQ's daily rolls and GPIQ's periodic rolls both sacrifice some portion of bull-market gains for premium income.

Bottom line

If you want a higher yield and accept daily rebalancing risk in a newer, smaller fund, TDAQ's 16.88% rate stands out. If you prioritize a more established structure, tighter expense management, and lower volatility amplification, GPIQ's blend of 10.12% income and $5.37B in AUM offers a steadier foundation. Past performance doesn't predict future results; neither fund's yields are guaranteed, and both carry meaningful principal risk if technology stocks decline.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

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The metrics behind this comparison, explained in the Academy.

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