SEPQ
Safe
High confidence
ETF Comparison
SEPQ vs TDAQ: Which Is the Better Pick in 2026?
A head-to-head comparison of STF Tactical Growth & Income ETF and TappAlpha Innovation 100 Growth & Daily Income ETF covering yield, cost, risk, and income potential.
Updated November 4, 2026
How these figures are calculated: methodology.
Best for
- SEPQInvestors who are comfortable trading away most upside for a large, steady payout.
- TDAQInvestors who want to maximize current income — roughly 18.19%, generated by selling options premium.
Price and total return
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Distribution Safety Score
An estimate of distribution reliability, not price or principal safety, a probability, or a guarantee. Score methodology.
TDAQ
Generally safe
High confidence
Score snapshot as of . Method 1.11.
Side-by-side snapshot
| Metric |  SEPQ |  TDAQ |
|---|---|---|
| Full name | STF Tactical Growth & Income ETF | TappAlpha Innovation 100 Growth & Daily Income ETF |
| Issuer | STF Management | TappAlpha |
| Last Close | $26.14 as of November 4, 2026 | $25.23 as of November 4, 2026 |
| Distribution rate | 12.39% | 18.19% |
| Trailing 12-month yield | 11.98% | 17.86% |
| 30-day SEC yield | — | -0.24% |
| Distribution Safety Score™ | 90 | 79 |
| Safety-Adjusted Yield | 11.15% | 14.37% |
| Expense ratio | 0.65% | 0.68% |
| AUM | $90.4M | $478M |
| Distribution frequency | Monthly | Monthly |
| Underlying index | — | Nasdaq-100 exposure through index ETFs and/or direct constituent stocks |
| Objective | Seeks long-term capital appreciation and income by tactically allocating between U.S. large-cap equity exposure and short-term Treasuries based on a proprietary trend-following model, with an option-overlay income sleeve. | 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 class | Equity | Equity |
| Inception date | 05/18/2022 | 09/04/2025 |
| Beta | 1.17 | 1.287 |
| Last dividend | $0.27 | $0.38252 |
| Ex-dividend date | 10/22/2026 | 10/20/2026 |
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.
SEPQ has lagged TDAQ over the trailing twelve months, posting a 11.75% total return against 11.91%. Measured from Sep 2025 — the start of shared available history — TDAQ has compounded at 18.18% a year versus 16.34% for SEPQ. Figures are total returns: price change plus every distribution reinvested.
| Symbol | YTD cumulative | 1Y cumulative | Since Sep 2025 | Volatility | Sharpe | Sortino | Max drawdown |
|---|---|---|---|---|---|---|---|
| SEPQ | 14.01% | 11.75% | 16.34% | 18.0% | 0.39 | 0.55 | -11.7% |
| TDAQ | 11.58% | 11.91% | 18.18% | 19.9% | 0.36 | 0.50 | -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 November 4, 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
| Metric | SEPQ | TDAQ |
|---|---|---|
| Forward distribution rate | 12.39% | 18.19% |
| Trailing 12-month yield | 11.98% | 17.86% |
| 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 TDAQ vs QQQ.
Visual comparison
Key metrics
Projected income on $10K
Projections assume the current yield and share price remain constant. Actual results will vary.
Bottom lineChoose SEPQ if you are comfortable trading away most upside for a large, steady payout. Choose TDAQ if you want to maximize current income — roughly 18.19%, generated by selling options premium. SEPQ 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.
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. SEPQ 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
Income calculator
See how much monthly income a hypothetical investment would generate in each ETF at current yields.
ETFs2
Total AUM$124M
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
STF Management operates a focused ETF business centered on income-generating strategies. This streamlined approach allows the issuer to concentrate its expertise on delivering consistent income distributions to investors seeking yield-focused exposure.
See our curated list of related YouTube videos on SEPQ.
ETFs5
Total AUM$1000M
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
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.
Quick verdict
SEPQ (STF Tactical Growth & 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 18.19% vs 12.39% for SEPQ. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
SEPQ is cheaper with an expense ratio of 0.65% compared to 0.68%.
TDAQ is the larger fund by assets ($478M), but assets alone do not establish trading costs or liquidity.
Who should choose each?
Choose SEPQ
STF Tactical Growth & Income ETF
- Are comfortable with an options-income strategy — a large payout in exchange for capped upside.
- Want to keep costs low — a 0.65% expense ratio vs 0.68% for TDAQ.
Choose TDAQ
TappAlpha Innovation 100 Growth & Daily Income ETF
- Want to maximize current income — TDAQ distributes roughly 18.19% from selling options premium, vs 12.39% for SEPQ.
- 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.
Top-holdings overlap
Positions that appear in every fund's top 10. Issuers disclose only the largest weights, so this captures the overlap of the concentrated end of each book — not the full portfolios.
8 shared positions
SEPQ 41.3% of its top-10 weight
TDAQ 40.8% of its top-10 weight
Deep dive
Yield & income
On a $10,000 investment at current distribution rates, SEPQ would pay about $1,239.00 a year (about $103.25 per monthly distribution), while TDAQ would pay about $1,819.00 a year (about $151.58 per monthly distribution). Both pay monthly distributions.
SEPQ yield12.39%
TDAQ yield18.19%
Annual cash diff on $10K$580.00
Cost & efficiency
Over 10 years on $10,000, SEPQ would cost approximately $650 in fees vs $680 for TDAQ (simplified, not compounded). The $30.00 difference may be offset by yield or performance.
SEPQ ER0.65%
TDAQ ER0.68%
Strategy & risk
SEPQ is an ETF built around a tactical strategy, while TDAQ tracks Nasdaq-100 exposure through index ETFs and/or direct constituent stocks with an options approach. Beta is 1.17 for SEPQ and 1.287 for TDAQ, making SEPQ the less sensitive to market moves of the two by this measure.
SEPQ beta1.17
TDAQ beta1.287
Fund details
SEPQ is managed by STF Management (launched 05/18/2022) with $90.4M in assets. TDAQ is managed by TappAlpha (launched 09/04/2025) with $478M in assets.
SEPQ AUM$90.4M
TDAQ AUM$478M
Frequently asked questions
Is TUGN the same as SEPQ?
Yes — same fund, new ticker. STF Management renamed the STF Tactical Growth & Income ETF from TUGN to SEPQ; the strategy and holdings carried over unchanged, and existing shareholders kept their position under the new symbol. So results for "TUGN" are answered by SEPQ's numbers: 12.39% distribution yield at a 0.65% expense ratio, with $90.4M in assets as of November 2026.
What is the current distribution rate for SEPQ and TDAQ?
SEPQ currently distributes 12.39% and TDAQ 18.19%, based on fund data updated November 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.
Is SEPQ 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 SEPQ and TDAQ?
You can, but expect meaningful overlap: 8 of the disclosed top-10 positions are shared (see the holdings-overlap section above). Holding both may double up on the same underlying names rather than diversify.
Is SEPQ 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 — SEPQ scores 90, TDAQ scores 79, so SEPQ'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, SEPQ or TDAQ?
SEPQ has an expense ratio of 0.65% 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 SEPQ vs TDAQ generate?
At current distribution rates, $10,000 in SEPQ would pay about $1,239.00 a year (about $103.25 per monthly distribution). $10,000 in TDAQ would pay about $1,819.00 a year (about $151.58 per monthly distribution).
Which has performed better historically, SEPQ or TDAQ?
SEPQ has lagged TDAQ over the trailing twelve months, posting a 11.75% total return against 11.91%. Measured from Sep 2025 — the start of shared available history — TDAQ has compounded at 18.18% a year versus 16.34% for SEPQ. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
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SEPQ vs TDAQ — at a glance
Generated October 31, 2026.
Overview
SEPQ and TDAQ are both equity ETFs with monthly distributions and option-overlay strategies designed to generate high income alongside stock exposure. The critical difference: SEPQ tactically rotates between large-cap stocks and short-term Treasuries using a trend-following model, while TDAQ maintains fixed Nasdaq-100 exposure and harvests income through daily covered calls on zero-day-to-expiration options. TDAQ's distribution rate is substantially higher, but comes with concentrated technology exposure and tighter structural constraints.
How they differ
SEPQ's strategy allows it to reduce equity exposure during downturns by rotating into Treasuries; TDAQ remains fully invested in Nasdaq-100 constituents at all times, selling daily call options for income. This structural difference manifests in their beta: TDAQ's 1.287 is notably higher than SEPQ's 1.17, reflecting its constant equity positioning and technology-sector concentration.
Distribution yield reveals the second major divide. TDAQ's 18.19% substantially exceeds SEPQ's 12.39%, a 5.8 percentage-point gap that reflects the intensity of daily call selling. TDAQ's 1 year old inception date also means fewer performance seasons to assess the sustainability of that yield, whereas SEPQ has 4 years of operational history.
Expense ratios are nearly identical at 0.65% versus 0.68%, a 3-basis-point difference.
Who each is best for
SEPQ: Fits investors seeking tactical flexibility and downside cushioning during market stress—the ability to rotate into Treasuries addresses both income and capital preservation in a way that static option overlays cannot.
TDAQ: Fits investors comfortable with constant Nasdaq-100 exposure who prioritize maximum current income from options strategies and accept concentration in large-cap technology stocks as a trade-off for higher yield.
Key risks to know
- NAV erosion at high distribution yields. TDAQ's 18.19% yield is unsustainably high relative to typical Nasdaq-100 earnings yields, suggesting a meaningful portion may depend on return-of-capital treatment or option premium exhaustion over time; SEPQ's 12.39% presents a similar erosion risk, though the Treasury rotation component may provide relief during equity downturns.
- Zero-day-to-expiration options concentration. TDAQ's reliance on 0DTE call sales exposes it to gamma risk, assignment mechanics on ex-dividend dates, and the structural constraint that only daily ITM calls generate premium—in volatile markets or large market drops, that income mechanism may collapse sharply.
- Technology-sector concentration. TDAQ's Nasdaq-100 mandate means heavy exposure to mega-cap technology names; during sector-specific drawdowns or rotation trades, this concentration poses downside risk unhedged by SEPQ's Treasury sleeve.
- Tactical-model execution risk. SEPQ's trend-following model determines equity-Treasury allocation; if the model generates false signals or lags real market turns, the fund may lock in losses at turning points or whipsaw between positions.
- Liquidity and maturity. TDAQ launched 09/04/2025, limiting observed return cycles through a full market regime; SEPQ's 4 years history, while longer, still spans a limited bull-market backdrop and does not include a severe bear market.
Bottom line
If you want tactical downside protection and the option to de-risk during downturns, SEPQ's Treasury rotation addresses that need; if you prioritize maximizing monthly income while accepting full Nasdaq-100 exposure, TDAQ's daily call strategy delivers higher yield. Past performance does not 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.
These comparisons follow the Dividend Vision methodology.