TDAQ vs XQQI: Daily Calls or Boosted Nasdaq Income?
Both funds turn Nasdaq-100 exposure into a high monthly distribution, by different routes. TDAQ holds Nasdaq-100 exposure and sells call options that expire the same day they are written, collecting premium daily while trying to keep most of the index's growth. XQQI, NEOS Boosted Nasdaq-100 High Income ETF, pairs an index-options income strategy with added notional exposure, so its gains and losses can run larger than the index before the overlay.
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 XQQI over the year to date, posting a 14.20% total return against 11.80%. TDAQ has been the steadier holding, though — annualized volatility of 20.6% against 26.1% for XQQI. 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 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 Feb 2026” measures every fund from February 3, 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 Feb 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 Feb 2026) — 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
XQQI
Forward distribution rate
17.50%
22.43%
Trailing 12-month yield
17.19%
16.17%
30-day SEC yield
-0.24%
-0.33%
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.
Side-by-side snapshot
Side-by-side snapshot. Each row is one metric;
each column is one fund.
Nasdaq-100 exposure through index ETFs and/or direct constituent stocks
Nasdaq-100 Index
Objective
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.
“The NEOS Boosted Nasdaq‑100 High Income ETF (the ‘Fund’) seeks to boost performance by
generating high monthly income in a tax efficient manner with the potential for enhanced equity
appreciation in rising markets.”
Bottom lineChoose TDAQ if you want daily premium harvesting with most index upside kept, and accept equity losses. Choose XQQI if you want a larger Nasdaq-100 income stream and accept magnified losses. The higher distribution rate on a given date does not settle it. Both rates move with Nasdaq volatility, and XQQI's added exposure means a larger payout comes with larger potential losses, not for free. Compare total return with distributions reinvested over the same dates, then look at the worst drawdown each fund has recorded and how much of each distribution has been classified as return of capital. A payout you can keep only if the price holds is not income in the ordinary sense.
TDAQ vs XQQI: Daily Calls or Boosted Nasdaq Income?
Both funds turn Nasdaq-100 exposure into a high monthly distribution, by different routes. TDAQ holds Nasdaq-100 exposure and sells call options that expire the same day they are written, collecting premium daily while trying to keep most of the index's growth. XQQI, NEOS Boosted Nasdaq-100 High Income ETF, pairs an index-options income strategy with added notional exposure, so its gains and losses can run larger than the index before the overlay.
TDAQ
XQQI
Approach
Nasdaq-100 exposure with same-day (0DTE) call writing
Nasdaq-100 options income with boosted notional exposure
Risk review
Repeated caps on rallies, equity losses, variable payouts
Amplified losses from added exposure, options trade-offs, variable payouts
Expense ratio
0.68%
0.98%
Portfolio fit
Review combined holdings and weights
Review combined holdings and weights
How the risk works
Boosted exposure. XQQI adds notional exposure to a Nasdaq-100 income strategy. That can amplify losses as well as gains; it is not a fixed daily-reset return target.
Daily option writing. TDAQ sells call options that expire the same day, repeatedly. Premium collected does not remove the underlying equity exposure, and a strong rally is capped many times over a month.
Equity losses under both. Each fund keeps most of the Nasdaq-100's downside. Distributions do not protect principal and may include return of capital.
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.
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 XQQI.
Both funds turn Nasdaq-100 exposure into a high monthly distribution, by different routes. TDAQ holds Nasdaq-100 exposure and sells call options that expire the same day they are written, collecting premium daily while trying to keep most of the index's growth. XQQI, NEOS Boosted Nasdaq-100 High Income ETF, pairs an index-options income strategy with added notional exposure, so its gains and losses can run larger than the index before the overlay.
The higher distribution rate on a given date does not settle it. Both rates move with Nasdaq volatility, and XQQI's added exposure means a larger payout comes with larger potential losses, not for free. Compare total return with distributions reinvested over the same dates, then look at the worst drawdown each fund has recorded and how much of each distribution has been classified as return of capital. A payout you can keep only if the price holds is not income in the ordinary sense.
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A fund that sells calls expiring the same day resets its cap every session, so it captures more of a multi-week rally than a monthly call writer but gives up the top of each day. A boosted income fund takes a different path: it increases the size of the position behind the options, which raises both the premium it can earn and the loss it takes in a decline. One is a timing design, the other a leverage design; read each prospectus for the current parameters.
Current metrics use the dated snapshot above. Distributions can vary and may include return of capital; a distribution rate is not an expected total return.
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Frequently asked questions
Which pays more, TDAQ or XQQI, and does that decide it?
The higher distribution rate on a given date does not settle it. Both rates move with Nasdaq volatility, and XQQI's added exposure means a larger payout comes with larger potential losses, not for free. Compare total return with distributions reinvested over the same dates, then look at the worst drawdown each fund has recorded and how much of each distribution has been classified as return of capital. A payout you can keep only if the price holds is not income in the ordinary sense.
How should I compare risk and ownership costs?
Both funds charge well above a plain index fund; compare the current expense ratios on the issuer pages. Daily option writing adds trading inside the fund that is not in the expense ratio. Use matching dates for returns, starting at the younger fund's first full month, and treat a short shared history as evidence about one market regime rather than a cycle.
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