DV
Dividend Vision

ETF Comparison

GPIQ vs TDAQ: Daily QQQ Income, or a Monthly Goldman Overlay?

A head-to-head of TappAlpha Innovation 100 Growth & Daily Income and Goldman Sachs Nasdaq-100 Core Premium Income covering cadence and cost.

Updated October 16, 2026

How these figures are calculated: methodology.

Best for

  • GPIQInvestors who are comfortable trading away most upside for a large, steady payout.
  • TDAQInvestors who want to maximize current income — roughly 17.50%, generated by selling options premium.

Jump to the side-by-side numbers

Visual comparison

Key metrics

Projected income on $10K

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

Total returns

100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.

GPIQ has outpaced TDAQ over the trailing twelve months, posting a 18.63% total return against 18.53%. Measured from Sep 2025 — the start of shared available history — TDAQ has compounded at 21.60% a year versus 20.36% 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.
SymbolYTD cumulative1Y cumulativeSince Sep 2025Volatility Sharpe Sortino Max drawdown
GPIQ14.71%18.63%20.36%17.1%0.761.09-9.5%
TDAQ14.20%18.53%21.60%19.6%0.660.93-11.7%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of October 16, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Sep 2025” measures every fund from September 4, 2025 — the start of shared available history — 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.

Distribution rate and SEC yield

MetricGPIQTDAQ
Forward distribution rate10.99%17.50%
Trailing 12-month yield10.38%17.19%
30-day SEC yield—-0.24%

Total return (price change plus reinvested distributions) is the Total returns section above. A 30-day SEC yield can sit far from the headline distribution rate; both numbers are the fund's own published fields.

Total return against the stated underlying is on GPIQ vs QQQ, TDAQ vs QQQ.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricGPIQTDAQ
Full nameGoldman Sachs Nasdaq-100 Premium Income ETFTappAlpha Innovation 100 Growth & Daily Income ETF
IssuerGoldman SachsTappAlpha
Last Close$55.55 as of October 16, 2026$26.20 as of October 16, 2026
Distribution rate10.99%17.50%
Trailing 12-month yield10.38%17.19%
30-day SEC yield—-0.24%
Distribution Safety Score™ 8076
Safety-Adjusted Yield 8.79%13.30%
Expense ratio0.29%0.68%
AUM$6.48B$450M
Distribution frequencyMonthlyMonthly
Underlying indexNasdaq-100Nasdaq-100 exposure through index ETFs and/or direct constituent stocks
ObjectiveSeeks 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.Seeks current income with prospects for capital appreciation through a daily covered-call strategy, primarily using zero-day-to-expiration options. Its secondary objective is exposure to the Nasdaq-100 Index through index ETFs, direct constituent stocks or a combination.
Asset classEquityEquity
Inception date10/24/202309/04/2025
Beta1.09641.287
Last dividend$0.50881$0.382
Ex-dividend date10/01/202609/15/2026

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 17.50%, generated by selling options premium. GPIQ and TDAQ both use option or derivative overlays. Their tradeoff is the underlying exposure, how each option strategy is implemented, and the yield each targets; either overlay can limit upside participation, so neither offers uncapped price exposure.

Daily QQQ income versus a monthly Goldman overlay

TDAQ pays daily income on QQQ. GPIQ overlays the Nasdaq-100 monthly. Cadence is the live difference.

GPIQTDAQ
CadenceMonthly Nasdaq-100 overlayDaily QQQ income
Expense ratio0.29%0.68%
Distribution rate10.99%17.50%
Fund size$6.48B$450M

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

Model this comparison:
Compare in my portfolio Forecast income Save to watchlist

Income calculator

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

Goldman Sachs
ETFs48
Total AUM$69.6B

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

Goldman Sachs Asset Management is known for offering a comprehensive suite of ETFs spanning traditional and alternative investment strategies across multiple asset classes. The fund lineup encompasses income-focused offerings, factor-based strategies, thematic investments, ESG solutions, international exposure, commodities, bonds, and indexed products, reflecting a broad approach to meeting diverse investor needs. The issuer's portfolio demonstrates significant breadth, with funds serving income investors, factor-based strategists, and those seeking specialized exposure to emerging themes and alternative assets.

See our curated list of related YouTube videos on GPIQ.

See all ETFs from Goldman Sachs
TappAlpha
ETFs5
Total AUM$939M

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 ETFs from TappAlpha

Want to go deeper?

Add these ETFs to a sample portfolio and forecast your dividend income over 5+ years — free to start, no credit card.

Compare in my portfolio Forecast income Save to watchlist

Quick verdict

GPIQ (Goldman Sachs Nasdaq-100 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 17.50% vs 10.99% 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 0.68%.

They have different reference exposures: GPIQ is linked to Nasdaq-100 while TDAQ is linked to Nasdaq-100 exposure through index ETFs and/or direct constituent stocks, which means their performance drivers differ.

GPIQ is the larger fund by assets ($6.48B), but assets alone do not establish trading costs or liquidity.

Who should choose each?

Choose GPIQ

Goldman Sachs Nasdaq-100 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 0.68% 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 17.50% from selling options premium, vs 10.99% 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.

Deep dive

Yield & income

On a $10,000 investment, GPIQ would generate roughly $91.58 cash per distribution, while TDAQ would produce $145.83 cash per distribution, at current distribution rates. Both pay monthly distributions.

GPIQ yield10.99%
TDAQ yield17.50%
Cash diff on $10K$54.25

Cost & efficiency

Over 10 years on $10,000, GPIQ would cost approximately $290 in fees vs $680 for TDAQ (simplified, not compounded). The $390.00 difference may be offset by yield or performance.

GPIQ ER0.29%
TDAQ ER0.68%

Strategy & risk

GPIQ tracks Nasdaq-100 with a covered call approach, while TDAQ tracks Nasdaq-100 exposure through index ETFs and/or direct constituent stocks with an options approach. 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 $6.48B in assets. TDAQ is managed by TappAlpha (launched 09/04/2025) with $450M in assets.

GPIQ AUM$6.48B
TDAQ AUM$450M
Ready to act?
Open in Comparator Model in portfolio See pricing

Enjoyed this page?

Do us a favor — if you found this comparison useful, please share it with a friend researching dividend ETFs.

Frequently asked questions

What is the difference between TDAQ and GPIQ?

TDAQ (TappAlpha Innovation 100 Growth & Daily Income ETF) pays daily income on QQQ exposure. GPIQ (Goldman Sachs Nasdaq-100 Premium Income ETF) is a monthly Nasdaq-100 overlay. Both sell some upside for cash; cadence and manager differ. Cost is 0.29% versus 0.68%. Distributions are 10.99% and 17.50% as of October 2026. Cadence, not a one-date yield, is the split.

What is the current distribution rate for GPIQ and TDAQ?

GPIQ currently distributes 10.99% and TDAQ 17.50%, based on fund data updated October 2026. Distribution rate 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.

Can I hold both GPIQ and TDAQ?

Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before 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 80, TDAQ scores 76, 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 0.68%. 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 $91.58 cash per distribution ($1,099.00 annually). The same in TDAQ would produce about $145.83 cash per distribution ($1,750.00 annually).

Which has performed better historically, GPIQ or TDAQ?

GPIQ has outpaced TDAQ over the trailing twelve months, posting a 18.63% total return against 18.53%. Measured from Sep 2025 — the start of shared available history — TDAQ has compounded at 21.60% a year versus 20.36% for GPIQ. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

GPIQ vs TDAQ — at a glance

Generated October 17, 2026.

Overview

GPIQ and TDAQ are both Nasdaq-100 equity ETFs that generate income through covered-call strategies, but they differ sharply in execution and payout intensity. TDAQ pursues a daily zero-day-to-expiration (0DTE) options approach, offering 17.50% yield but charging 0.68% in expenses and operating with only $450M in assets versus $6.48B for GPIQ.

How they differ

The core difference is options frequency and payout rate. This daily reset approach drives TDAQ's yield to 17.50%, 6.51% percentage points higher than GPIQ's 10.99%.

Fee drag and risk profile follow. TDAQ's expense ratio of 0.68% exceeds GPIQ's 0.29% by 0.39% percentage points, a meaningful gap at scale. TDAQ also carries a higher beta of 1.287 versus 1.0964, suggesting amplified downside in market corrections.

Who each is best for

GPIQ: Fits investors seeking steady monthly income from large-cap technology exposure without daily rebalancing overhead—those comfortable with Nasdaq-100 beta at 1.0964 and willing to accept call-capped upside in exchange for consistent premium collection.

TDAQ: Designed for income-focused traders who actively monitor positions and understand that 0DTE option strategies create higher payouts in flat-to-rising markets but may underperform in sharp reversals; suits those viewing the fund as tactical rather than buy-and-hold. Rolling 0DTE calls, while capturing daily premiums, may not offset the underlying index's realized gains, gradually eroding principal.

  • Options assignment and reinvestment timing. Daily 0DTE expiration in TDAQ introduces reinvestment friction: every trading day brings new contract rolls, higher transaction costs, and slippage risk that compounds over time. GPIQ's longer-dated calls reduce this drag.
  • Higher beta volatility in TDAQ. TDAQ's beta of 1.287 versus GPIQ's 1.0964 means sharper declines during market downturns. When short calls are deep in-the-money during sell-offs, the fund's upside recovery is capped while downside is not, amplifying losses relative to the benchmark.
  • Limited fund history and scale. TDAQ's 1 year inception date and $450M asset base leave little operational track record through a full market cycle. Larger funds like GPIQ benefit from liquidity and institutional vetting.

Bottom line

If you prioritize stable, predictable monthly income with lower fees and proven scale, GPIQ's traditional covered-call model offers a cleaner structure. If you're drawn to maximum current income and can tolerate daily rebalancing, higher fees, and steeper principal erosion risk, TDAQ's 0DTE approach may deliver that payout—but verify that the extra yield compensates for its tighter liquidity and compressed fund history. Past performance doesn't predict future results.

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

Learn the method

The metrics behind this comparison, explained in the Academy.

How covered-call funds work How to read a fund's stats The covered-call opportunity cost

Still deciding? Compare them against your own portfolio

See how each ETF fits alongside your real holdings — forecast future income, analyze overlap, and gauge risk. Start a free 7-day Dividend Vision trial and make the call with your full portfolio in view.

Start Free Open in Comparator Browse Screener

These comparisons follow the Dividend Vision methodology.