TDAQ pairs QQQ exposure with short-dated call writing; TSPY pairs SPY exposure with a similar daily-income approach. Nasdaq-100 exposure is not a pure technology-sector allocation, while the S&P 500 is a U.S. large-cap benchmark rather than the entire market.
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.
TDAQ has outpaced TSPY over the trailing twelve months, posting a 23.81% total return against 14.54%. Measured from Sep 2025 — the start of shared available history — TDAQ has compounded at 27.12% a year versus 16.34% for TSPY. TSPY has been the steadier holding, though — annualized volatility of 12.7% against 19.6% 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.
Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 30, 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
TDAQ
TSPY
Forward distribution rate
16.83%
13.98%
Trailing 12-month yield
16.54%
14.08%
30-day SEC yield
-0.24%
0.34%
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.
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.
The TappAlpha S&P 500 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 SPDR S&P 500 ETF Trust ("SPY"), subject to a limit on potential investment gains.
Bottom lineChoose TDAQ if you want Nasdaq-100-oriented daily option income and accept concentration. Choose TSPY if you want S&P 500-oriented daily option income and accept market and option risks. Payments can change and may include tax return of capital. Neither a payout rate nor tax character proves total return, distribution coverage, or principal safety.
Different equity benchmarks under daily income strategies
TDAQ pairs QQQ exposure with short-dated call writing; TSPY pairs SPY exposure with a similar daily-income approach. Nasdaq-100 exposure is not a pure technology-sector allocation, while the S&P 500 is a U.S. large-cap benchmark rather than the entire market.
TDAQ
TSPY
Approach
QQQ exposure and short-dated calls
SPY exposure and short-dated calls
Risk review
Nasdaq-100 concentration, stock losses, and option path dependence
U.S. large-cap concentration, stock losses, and option path dependence
Expense ratio
0.83%
0.71%
Portfolio fit
Review combined holdings and weights
Review combined holdings and weights
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. TDAQ and TSPY 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.
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 and TSPY.
TDAQ (TappAlpha Innovation 100 Growth & Daily Income ETF) and TSPY (TappAlpha S&P 500 Growth & Daily Income ETF) are both monthly-pay dividend ETFs, but they take different approaches.
TDAQ offers the higher yield at 16.83% vs 13.98% for TSPY. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
TSPY is cheaper with an expense ratio of 0.71% compared to 0.83%.
They have different reference exposures: TDAQ is linked to Invesco QQQ Trust (QQQ) while TSPY is linked to SPDR S&P 500 ETF Trust (SPY), which means their performance drivers differ.
TDAQ is the larger fund by assets ($386M), but assets alone do not establish trading costs or liquidity.
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On a $10,000 investment, TDAQ would generate roughly $140.25 cash per distribution, while TSPY would produce $116.50 cash per distribution, at current distribution rates. Both pay monthly distributions.
TDAQ yield16.83%
TSPY yield13.98%
Cash diff on $10K$23.75
Cost & efficiency
Over 10 years on $10,000, TDAQ would cost approximately $830 in fees vs $710 for TSPY (simplified, not compounded). The $120.00 difference may be offset by yield or performance.
TDAQ ER0.83%
TSPY ER0.71%
Strategy & risk
TDAQ pairs QQQ exposure with short-dated call writing; TSPY pairs SPY exposure with a similar daily-income approach. Nasdaq-100 exposure is not a pure technology-sector allocation, while the S&P 500 is a U.S. large-cap benchmark rather than the entire market. Beta describes historical benchmark sensitivity, not guaranteed downside protection.
TDAQ beta1.287
TSPY beta0.935
Fund details
TDAQ is managed by TappAlpha (launched 09/04/2025) with $386M in assets. TSPY is managed by TappAlpha (launched 08/14/2024) with $342M in assets.
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Frequently asked questions
Does TDAQ's beta guarantee larger gains or losses than TSPY?
No. Beta describes historical sensitivity over a particular sample; it is not a leverage target or forecast. Compare the indexes' holdings, combined overlap, actual option positions, and matching total-return periods. Daily call writing changes upside participation but does not remove downside.
How should I compare risk and ownership costs?
Use matching dates and definitions for returns, distributions, and fees. Beta describes historical benchmark sensitivity, not guaranteed downside protection. Check current bid-ask spreads and premiums or discounts; AUM alone does not determine the price available for your order.
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