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ETF Comparison

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

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

Data updated July 21, 2026

NEOS
ETFs19
Total AUM$30.0B

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

NEOS is known for developing specialized income-focused ETFs that employ strategies like covered calls, hedging, and enhanced yields across various asset classes. The firm manages 19 funds organized into nine distinct families, including offerings in equity high income, fixed income enhancement, digital assets, and alternative strategies, with popular tickers like SPYI (S&P 500 covered call), QQQI (Nasdaq-100 covered call), and QQQH (Nasdaq-100 hedged equity income). NEOS distinguishes itself in the ETF landscape through its emphasis on income generation and downside protection strategies rather than traditional growth approaches.

See our curated list of related YouTube videos on QQQI.

See all NEOS ETFs
TappAlpha
ETFs5
Total AUM$631M

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

Side-by-side snapshot

QQQITDAQ
Full nameNEOS Nasdaq-100 High Income ETFTappAlpha Innovation 100 Growth & Daily Income ETF
IssuerNEOSTappAlpha
Last Close$54.27 as of July 21, 2026$26.44 as of July 21, 2026
Distribution yield14.53%17.70%
Distribution Safety Score™ 8479
Expense ratio0.68%0.83%
AUM$13.3B$264M
Distribution frequencyMonthlyMonthly
Underlying indexNASDAQ 100Invesco QQQ Trust (QQQ)
ObjectiveSeeks to generate high monthly income in a tax efficient manner while targeting equity appreciation.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 date01/29/202409/04/2025
Beta1.05531.287
Last dividend$0.6570$0.3900
Ex-dividend date06/16/202607/14/2026

Bottom lineChoose QQQI if you are comfortable trading away most upside for a large, steady payout. Choose TDAQ if you want to maximize current income — roughly 17.70%, 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

SymbolYTDSince Sep 2025Volatility Sharpe Sortino Max drawdown
QQQI8.33%14.91%16.3%0.710.98-9.6%
TDAQ10.52%20.22%18.9%0.891.22-11.3%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 20, 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 shared window since Sep 2025. 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 Sep 2025) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Quick verdict

QQQI (NEOS Nasdaq-100 High 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 17.70% vs 14.53% for QQQI. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

QQQI is cheaper with an expense ratio of 0.68% compared to 0.83%.

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

QQQI is the larger fund by assets ($13.3B), which generally means tighter spreads and better liquidity.

Who should choose each?

Choose QQQI

NEOS Nasdaq-100 High Income ETF

  • Are comfortable with an options-income strategy — a large payout in exchange for capped upside.
  • Want to keep costs low — a 0.68% 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 17.70% from selling options premium, vs 14.53% for QQQI.
  • 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, QQQI would generate roughly $121.08/month, while TDAQ would produce $147.50/month, at current distribution rates. Both pay monthly distributions.

QQQI yield14.53%
TDAQ yield17.70%
Monthly diff on $10K$26.42

Cost & efficiency

Over 10 years on $10,000, QQQI would cost approximately $680 in fees vs $830 for TDAQ (simplified, not compounded). The $150.00 difference may be offset by yield or performance.

QQQI ER0.68%
TDAQ ER0.83%

Strategy & risk

Both QQQI and TDAQ wrap NASDAQ 100 with options-based income overlays (options and growth). The practical differences are yield target, fee structure, and issuer track record — not the underlying mechanic. Beta is 1.0553 for QQQI and 1.287 for TDAQ, indicating QQQI is less volatile relative to the market.

QQQI beta1.0553
TDAQ beta1.287

Fund details

QQQI is managed by NEOS (launched 01/29/2024) with $13.3B in assets. TDAQ is managed by TappAlpha (launched 09/04/2025) with $264M in assets.

QQQI AUM$13.3B
TDAQ AUM$264M
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Frequently asked questions

Is QQQI 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 QQQI and TDAQ?

Both QQQI (NEOS Nasdaq-100 High Income ETF) and TDAQ (TappAlpha Innovation 100 Growth & Daily Income ETF) track NASDAQ 100 with options-based income strategies — the labels "options" and "growth" describe closely related mechanics (covered calls are a specific type of options strategy). The real differences show up in yield target (14.53% vs 17.70%), expense ratio (0.68% vs 0.83%), and issuer (NEOS vs TappAlpha).

Can I hold both QQQI 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.

Which has lower fees, QQQI or TDAQ?

QQQI has an expense ratio of 0.68% 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 QQQI vs TDAQ generate?

At current rates, $10,000 in QQQI would generate roughly $121.08 per month ($1,453.00 annually). The same in TDAQ would produce about $147.50 per month ($1,770.00 annually).

More comparisons to explore

QQQI vs TDAQ — at a glance

Generated July 2026 from current fund data.

Overview

QQQI and TDAQ are both options-overlay ETFs built on Nasdaq-100 exposure that aim to generate high monthly income while tracking large-cap technology stocks. QQQI tracks the Nasdaq-100 directly and holds $12.5B in assets; TDAQ tracks the QQQ Trust (which itself holds Nasdaq-100 constituents) and is much smaller at $227M. The key distinction: QQQI targets a 13.99% distribution yield with a 0.68% expense ratio, while TDAQ pursues a higher 16.97% yield with a 0.83% expense ratio and appears to use more aggressive daily option sales (0DTE notation) to generate income.

How they differ

TDAQ's 16.97% distribution rate versus QQQI's 13.99% reflects a more aggressive income strategy—likely driven by daily short options positions rather than monthly rolls. TDAQ also carries higher beta at 1.287 compared to QQQI's 1.055, suggesting it amplifies both upside and downside swings in the Nasdaq-100. TDAQ launched only in September 2025 and manages just $227M, versus QQQI's January 2024 inception and $12.5B in AUM, a 55-fold difference in scale. The expense ratio gap (0.83% vs. 0.68%) is modest, but TDAQ's smaller size and newer track record mean less operational stability and visibility into long-term distribution sustainability.

Who each is best for

QQQI: Fits investors seeking consistent Nasdaq-100 income exposure with a proven operational track record, moderate yield, and larger fund stability—especially those comfortable with an options overlay that prioritizes tax efficiency over maximum income extraction.

TDAQ: Fits investors willing to accept higher beta and newer fund infrastructure in pursuit of a materially higher income rate, and who understand that daily options strategies carry different reinvestment and liquidity dynamics than monthly overlay funds.

Key risks to know

  • NAV erosion at high distribution yields. Both funds distribute >13%, well above typical equity returns; distributions likely rely on significant return-of-capital treatment, which erodes principal over time if the underlying Nasdaq-100 doesn't deliver offsetting capital gains.
  • Capped upside from short call positions. Both use sold calls to generate income; in a strong Nasdaq-100 rally, gains will be limited by the call strike price. TDAQ's more aggressive daily strategy may cap smaller amounts but more frequently.
  • Beta amplification and volatility asymmetry. TDAQ's beta of 1.287 means a 20% market decline could translate to a 25.7% fund loss before factoring in options mechanics. Monthly option rolls (QQQI) smooth this somewhat; daily rolls (TDAQ) rebalance more often but don't eliminate the risk.
  • Liquidity and operational risk at smaller scale. TDAQ's $227M AUM and September 2025 inception mean limited trading volume, wider bid-ask spreads, and no multi-year history of dividend sustainability through a full market cycle.

Bottom line

If you prioritize a larger, more established fund with lower fees and a sustainable income target, QQQI's 13.99% yield and $12.5B asset base offer a cleaner foundation. If you're drawn to a higher payout and understand the tradeoff of less AUM, newer operations, and higher beta, TDAQ's 16.97% yield and daily option strategy may appeal—but only if you can tolerate principal erosion and tighter spreads in exchange for incremental income. Past performance does not guarantee future results, and yields this high depend critically on continued Nasdaq-100 stability and volatility levels.

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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