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ETF Comparison

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

A head-to-head comparison of VegaShares SPX NDX RTY Premium Income ETF and TappAlpha Innovation 100 Growth & Daily Income ETF covering yield, cost, risk, and income potential.

Data updated September 18, 2026

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.

ODTE has lagged TDAQ over the shared window since Apr 2026, posting a 5.80% total return against 21.53%. ODTE has been the steadier holding, though — annualized volatility of 13.8% against 21.0% for TDAQ. 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.
SymbolSince Apr 2026Volatility Sharpe Sortino Max drawdown
ODTE5.80%13.8%0.570.79-7.2%
TDAQ21.53%21.0%1.822.72-11.7%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 18, 2026. YTD and 1Y are cumulative; windows of one year or longer are annualized. “Since Apr 2026” measures every fund from April 6, 2026 — 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 shared window since Apr 2026. 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 shared window since Apr 2026) — 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.
MetricODTETDAQ
Full nameVegaShares SPX NDX RTY Premium Income ETFTappAlpha Innovation 100 Growth & Daily Income ETF
IssuerVegaSharesTappAlpha
Last Close$25.00 as of September 18, 2026$26.78 as of September 18, 2026
Distribution rate14.14%17.12%
Distribution Safety Score™ 5079
Safety-Adjusted Yield —13.52%
Expense ratio0.76%0.83%
AUM$2.75M$364M
Distribution frequencyWeeklyMonthly
Underlying indexS&P 500, Nasdaq-100, Russell 2000Invesco QQQ Trust (QQQ)
ObjectiveSeeks weekly income by investing at least 80% of net assets in the constituents of the S&P 500, Nasdaq-100 and Russell 2000 indices, or instruments linked to them, alongside an options premium strategy.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 classEquityEquity
Inception date04/03/202609/04/2025
Beta—1.287
Last dividend$0.068 payable today$0.382
Ex-dividend date09/17/202609/15/2026

Bottom lineWe won't call this one: ODTE launched April 2026, so there is not yet a track record to compare. Compare the strategy, cost and holdings in the sections above and treat any performance figures for the newer ETF as provisional.

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. ODTE 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.

VegaShares
ETFs5
Total AUM$60.9M

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

VegaShares specializes in options-based and thematic ETFs designed to generate income and capitalize on emerging trends. The issuer's lineup spans income-focused strategies, including covered call funds, alongside thematic offerings that target specific market segments and innovation themes. VegaShares serves investors seeking alternative approaches to traditional equity exposure, with a concentrated portfolio of strategically named funds addressing both income generation and sector-specific growth opportunities.

See our curated list of related YouTube videos on ODTE.

See all VegaShares ETFs
TappAlpha
ETFs5
Total AUM$783M

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

ODTE (VegaShares SPX NDX RTY Premium Income ETF) and TDAQ (TappAlpha Innovation 100 Growth & Daily Income ETF) are both dividend ETFs, but they take different approaches.

TDAQ offers the higher yield at 17.12% vs 14.14% for ODTE. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

ODTE is cheaper with an expense ratio of 0.76% compared to 0.83%.

They have different reference exposures: ODTE is linked to S&P 500, Nasdaq-100, Russell 2000 while TDAQ is linked to Invesco QQQ Trust (QQQ), which means their performance drivers differ.

TDAQ has $364M in assets vs $2.75M for ODTE, but ODTE only launched April 2026 — AUM comparisons will become more meaningful as it builds a track record.

Deep dive

Yield & income

On a $10,000 investment, ODTE would generate roughly $117.83/month, while TDAQ would produce $142.67/month, at current distribution rates.

ODTE yield14.14%
TDAQ yield17.12%
Monthly diff on $10K$24.83

Cost & efficiency

Over 10 years on $10,000, ODTE would cost approximately $760 in fees vs $830 for TDAQ (simplified, not compounded). The $70.00 difference may be offset by yield or performance.

ODTE ER0.76%
TDAQ ER0.83%

Strategy & risk

Both ODTE and TDAQ wrap S&P 500, Nasdaq-100, Russell 2000 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.

ODTE beta—
TDAQ beta1.287

Fund details

ODTE is managed by VegaShares (launched 04/03/2026) with $2.75M in assets. TDAQ is managed by TappAlpha (launched 09/04/2025) with $364M in assets.

ODTE AUM$2.75M
TDAQ AUM$364M
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Frequently asked questions

What is the current distribution rate for ODTE and TDAQ?

ODTE currently distributes 14.14% and TDAQ 17.12%, based on fund data updated September 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is ODTE 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 ODTE and TDAQ?

Both ODTE (VegaShares SPX NDX RTY Premium Income ETF) and TDAQ (TappAlpha Innovation 100 Growth & Daily Income ETF) track S&P 500, Nasdaq-100, Russell 2000 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 (14.14% vs 17.12%), expense ratio (0.76% vs 0.83%), and issuer (VegaShares vs TappAlpha).

Can I hold both ODTE and TDAQ?

You can, but expect significant overlap. Both funds use options-based income strategies on S&P 500, Nasdaq-100, Russell 2000, 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 ODTE 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 — TDAQ scores 79, ODTE scores 50, so TDAQ's payout currently looks the more resilient of the two. 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, ODTE or TDAQ?

ODTE has an expense ratio of 0.76% 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 ODTE vs TDAQ generate?

At current rates, $10,000 in ODTE would generate roughly $117.83 per month ($1,414.00 annually). The same in TDAQ would produce about $142.67 per month ($1,712.00 annually).

Which has performed better historically, ODTE or TDAQ?

ODTE has lagged TDAQ over the shared window since Apr 2026, posting a 5.80% total return against 21.53%. ODTE has been the steadier holding, though — annualized volatility of 13.8% against 21.0% for TDAQ. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

ODTE vs TDAQ — at a glance

Generated September 19, 2026.

ODTE holds a diversified basket spanning the S&P 500, Nasdaq-100, and Russell 2000, selling short-term options for 14.14% yield. TDAQ mirrors the Nasdaq-100 via QQQ while harvesting 17.12% yield through a similar options premium strategy, but with a stated cap on upside gains.

How they differ

The core strategic difference is breadth versus concentration. ODTE spreads its 80%+ allocation across three indices—large-cap, mega-cap growth, and small-cap value—while TDAQ is essentially a leveraged Nasdaq-100 play capped on the upside. That cap structure is TDAQ's defining feature: it limits capital appreciation in exchange for the income harvest, which fundamentally changes how the fund behaves in rising markets.

Second, yield and distribution timing differ. Both strategies rely on selling short-dated options, but TDAQ's monthly cadence and capped structure suggest a more structured approach to income extraction.

Third, scale and cost diverge. Both are nascent funds—ODTE launched in April 2026 and TDAQ in September 2025—so neither has a track record through a full market cycle.

Who each is best for

ODTE: Fits investors seeking diversified equity exposure with weekly income, comfortable with reduced upside in exchange for broad-based market participation across large-cap, growth, and small-cap segments.

TDAQ: Fits investors with conviction in Nasdaq-100 performance and an appetite for monthly income who view the upside cap as an acceptable trade-off for enhanced yield, with 1.287 volatility tolerance.

Key risks to know

  • NAV erosion at extreme yield levels. Both funds distribute 14.14% and 17.12% respectively—yields far above historical market returns. Sustaining these without eroding net asset value over time requires outsized options premium realization or return-of-capital treatment; neither has demonstrated historical ability to do so.
  • 0DTE options concentration risk. Selling zero-day-to-expiration options generates high weekly or monthly cash but concentrates liquidity, vega, and assignment risk in ultra-short windows. Adverse intraday moves or gap risk at market opens can force rapid rebalancing or losses.
  • TDAQ's upside cap. By design, TDAQ's gains are capped to harvest income, meaning it will materially lag QQQ in strong bull markets. This asymmetry compounds across years, making it a poor fit for growth-oriented time horizons.
  • Newness and limited operational history. ODTE and TDAQ are both under two years old; neither has weathered a significant correction, volatility spike, or dividend cut cycle. Early AUM ($2.75M and $364M respectively) raises questions about ongoing viability and fee coverage.
  • Nasdaq-100 concentration for TDAQ. TDAQ's single-index approach amplifies technology sector and mega-cap risk; a mean reversion in growth valuations would hurt it disproportionately versus ODTE's diversified baseline. If you want broad equity exposure with frequent distributions, ODTE's three-index spread fits that profile; if you're betting on Nasdaq-100 outperformance and willing to forfeit gains above a threshold for enhanced income, TDAQ aligns with that thesis. Both funds are untested through market stress and distribute yields that exceed historical equity returns—verify the underlying fund's actual options income capability and return-of-capital disclosure before committing capital.

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

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