TDAQ TappAlpha Innovation 100 Growth & Daily Income ETF

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$26.44
+0.6% · 1 day, price
IQ’s readingComputed nightly from ETFIQ data. Not written live.

Over the year to Oct 28, 2026, TDAQ paid 16.5% in cash and returned 15.2% in total, against 15.2% for QQQ.

Option income on QQQ, paying monthlyTappAlpha ↗Expense ratio 0.68%Fund assets $248m net assets, latest filing (Jun 30, 2026)First traded Sep 4, 2025Benchmark Nasdaq-100 (QQQ)SEC filings ↗Every TappAlpha fund ETFIQ coversDividend history

Promise check: PartlyOver the year to Oct 28, 2026, TDAQ paid 16.5% in cash and returned 15.2% in total, covering 92.1% of its payout. Since launch it covered 139.8%.

TDAQ risk and return scorecard

vs QQQ · Sep 2025 to Oct 2026 · 58 weekly returns · dividend-adjusted

Short history · 13 months
TDAQ +21.0%, QQQ +20.8%, Sep 2025 to Oct 2026, distributions reinvested.
Return
MeasureTDAQQQQEdge
Total return+21.0%+20.8%Tie
Annualized+18.7%+18.4%Tie
Price return+0.5%+20.1%QQQ
Risk
MeasureTDAQQQQEdge
Volatility17.4%18.5%TDAQ (slight)
Max drawdown−9.2%−10.3%TDAQ
Upside capture93.0%100.0%QQQ (slight)
Downside capture96.2%100.0%TDAQ (slight)
Risk-adjusted
MeasureTDAQQQQEdge
Sharpe ratio0.850.80TDAQ (slight)
Sortino ratio1.321.24TDAQ (slight)
Alpha vs QQQ
MeasureTDAQQQQEdge
Alpha, a year+1.1%Not significant
Alpha t-stat0.40
Beta to QQQ0.921.00Lower beta

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records; risk-free rate: U.S. Treasury, Daily Treasury Bill Rates, 13-week coupon equivalent Method · Data

Money in and out

Net fund flows · Jun 30, 2026
Since Sep 2025
+$233m

What you earned

TDAQ −1.1%, QQQ −1.5%: total return over one month to Oct 28, 2026.
TDAQ−1.1%
QQQ−1.5%
Paid 1.4% in cash. Price −2.5%.
TDAQ +9.8%, QQQ +9.8%: total return over three months to Oct 28, 2026.
TDAQ+9.8%
QQQ+9.8%
Paid 4.6% in cash. Price +5.1%.
TDAQ +9.4%, QQQ +9.9%: total return over six months to Oct 28, 2026.
TDAQ+9.4%
QQQ+9.9%
Paid 8.8% in cash. Price +0.4%.
TDAQ +17.0%, QQQ +18.5%: total return over the year to Oct 28, 2026.
TDAQ+17.0%
QQQ+18.5%
Paid 14.4% in cash. Price +1.4%.
TDAQ +15.2%, QQQ +15.2%: total return over one year to Oct 28, 2026.
TDAQ+15.2%
QQQ+15.2%
Paid 16.5% in cash. Price −2.9%.
TDAQ +27.4%, QQQ +26.9%: total return since launch to Oct 28, 2026.
TDAQ+27.4%
QQQ+26.9%
Paid 19.6% in cash. Price +5.8%.

What it paid

13 distributions · latest Oct 20, 2026
16.5%
Cash paid, 1 year, on its starting price
+15.2%
Total return, 1 year
0.0 pts
Against QQQ
98.0%
Return of capital, latest payout (TappAlpha estimate)
$0.3825
Last payment (paid monthly), ex-date Oct 20, 2026
Pays monthly.

More on TDAQ

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Price and total return, 1 year

$26.44+0.6%1 day, priceClose, Oct 28, 2026

Total return adds every distribution, reinvested. Computed by ETFIQ from Tiingo daily prices.

Source: Tiingo end-of-day prices. Data as of Oct 28, 2026. Updated every trading night. Report a data error

TDAQ returns by window: total return, cash paid and price change
WindowTotal returnCash paidPriceQQQAhead or behind
1M Sep 28 – Oct 28, 2026−1.1%1.4%−2.5%−1.5%+0.4 pts
3M Jul 29 – Oct 28, 2026+9.8%4.6%+5.1%+9.8%0.0 pts
6M Apr 29 – Oct 28, 2026+9.4%8.8%+0.4%+9.9%−0.5 pts
YTD Dec 31, 2025 – Oct 28, 2026+17.0%14.4%+1.4%+18.5%−1.5 pts
1Y Oct 28, 2025 – Oct 28, 2026+15.2%16.5%−2.9%+15.2%0.0 pts
Since launch Sep 4, 2025 – Oct 28, 2026+27.4%19.6%+5.8%+26.9%+0.5 pts
Since launch, annualised Sep 4, 2025 – Oct 28, 2026+23.5%––––

Total returns, distributions reinvested. Listed Sep 2025: no 3 years windows.

Source: Tiingo end-of-day prices, with distributions reinvested.

Where the return came from
Price change −2.5%Cash paid +1.4%, reinvested+0.4 pts vs QQQ

0.0%

Price change +5.1%Cash paid +4.6%, reinvested0.0 pts vs QQQ
Price change +0.4%Cash paid +8.8%, reinvested−0.5 pts vs QQQ
Price change −2.9%Cash paid +16.5%, reinvested0.0 pts vs QQQ

0.0%

Price change +5.8%Cash paid +19.6%, reinvested+0.5 pts vs QQQ
54.0
IQ Income ScoreETFIQ Distribution Coverage Score76th of 164 · Oct 28, 2026
0.3 · lowest of 164 income ETFs not writing on a single company99.7 · highest

How much of its payouts the fund's total return covered, ranked against 164 income ETFs not writing on a single company. 100 is best. How it is computed

TDAQ paid 16.5% in cash over the year and returned 15.2% in total, less than it paid out.

total return as a share of the cash paid92.1% · 54th pct

Money in and out

Monthly data · as of Jun 30, 2026

TDAQ: in the month to Jun 30, 2026, net $42.4m came in, by its SEC filing.

Since Sep 2025
+$233m
Sep 1, 2025 to Jun 30, 2026
monthly, from SEC filings

Computed by ETFIQ from the monthly sales and redemptions TDAQ files with the SEC on Form N-PORT.

How this is computed

ETFIQ reads no daily data for this fund, so its flows are monthly, and the latest month filed is Jun 2026. Every day and month ETFIQ holds for TDAQ, back to Sep 2025, is in its flows file. Flows across every fund · How these flows are computed · Compare TDAQ with other funds in the flows tool

Month by month, money in and money outSep 2025 to Jun 2026

TDAQ, money in and money out each month from Sep 2025 to Jun 2026: two bars a month, money in above the line and money out below. Every bar is from TDAQ’s SEC filings (N-PORT item B.6). Of the 10 months listed, money came in on net in 10 and went out in 0.

Every bar is from TDAQ’s SEC filings (N-PORT item B.6). Of the 10 months listed, money came in on net in 10 and went out in 0.

MonthInOutNet
Jun 2026 SEC Form N-PORT+$42.4m$0+$42.4m
May 2026 SEC Form N-PORT+$222m−$196m+$26.3m
Apr 2026 SEC Form N-PORT+$28.4m−$784k+$27.6m
Mar 2026 SEC Form N-PORT+$11.9m−$1.7m+$10.2m
Feb 2026 SEC Form N-PORT+$24.6m−$7.4m+$17.1m
Jan 2026 SEC Form N-PORT+$42.2m$0+$42.2m
Dec 2025 SEC Form N-PORT+$24.1m−$1.0m+$23.0m
Nov 2025 SEC Form N-PORT+$19.3m$0+$19.3m
Oct 2025 SEC Form N-PORT+$15.1m−$265k+$14.9m
Sep 2025 SEC Form N-PORT+$10.0m$0+$10.0m

Most recent first.

How this is computed

N-PORT months: money in is sales plus reinvestments; money out is redemptions.

N-PORT months are the filed sales plus reinvestments less redemptions. Later months add up the daily data; the Source column names any missing day.

Source: ETFIQ, from the fund’s SEC N-PORT filings. Data as of Jun 30, 2026. Updated when the fund files its next report.

TDAQ key stats

52-week high, daily closes to Oct 28, 2026 (ETFIQ)$29.31 on Jun 2, 2026
52-week low, daily closes to Oct 28, 2026 (ETFIQ)$22.74 on Mar 30, 2026
Close on Oct 28, 2026, within that range (ETFIQ)$26.44, 56% of the way from the low to the high
Beta to its benchmark, 1 year (ETFIQ)0.94, against QQQ
R-squared, the same days (ETFIQ)0.92
Beta and R-squared measured over251 daily total returns, Oct 29, 2025 to Oct 28, 2026
Range, beta and R-squared computed by ETFIQ from Tiingo daily prices.

TDAQ return of capital and tax

Return of capital, latest notice (TappAlpha estimate, Oct 21, 2026)98.0%
Return of capital, distributions paid Nov 19, 2025 to Oct 21, 2026 (TappAlpha estimates)99.1%
Notices behind that number12 of 12 distributions
Return of capital, fiscal year to Dec 31, 2025 (annual report, filed Mar 9, 2026)55.4%
Estimates minus annual report, fiscal year to Dec 31, 2025+44.2 pts
Options it writes (holdings as of Jun 30, 2026)No options
Estimates are TappAlpha’s Rule 19a-1 notices, made before the fund year closes. The fiscal year number is the annual report’s tax character. Not tax advice. What a 19a-1 estimate is · Income ETFs by return of capital

Trading

as of Mar 16, 2026
Trading · TDAQas of Mar 16, 2026
·
Not scored1 of 6 measured · Mar 16, 2026
0 · Hard to tradeIQ Liquidity Score100 · Trades like a giant
Cost for your order · one way, half its 30-day median spread
One dealer
How to tradeSpread not read.
Full trading page: components, premium history, dealers →
Oct 2025Monthly, per shareOct 2026

13 distributions for TDAQ, $0.3502 to $0.3955 a share and $0.3814 in the middle, Oct 21, 2025 to Oct 20, 2026. 1 further ex-date is expected with no amount the issuer has declared, so it is not drawn.

Latest
$0.3825
Ex Oct 20, 2026 · paid about 2 days later
Annualized
17.4%
At its price on Oct 28, 2026
Trailing 12 months
17.0%
12 payments, ex Nov 18, 2025 to Oct 20, 2026: $4.5072
Return of capital
98.0%
Latest payout (TappAlpha estimate)
Next, projected

TDAQ pays monthly. The last distribution was $0.3825 a share, which went ex on Oct 20, 2026, with payment about 2 days later. The next has not been declared. On its own cadence of about 28 days the ex-date falls near Nov 17, 2026; that date is an ETFIQ projection, not the issuer’s.

Nov 17, 2026 · pay Nov 19, 2026$0.3825 ETFIQ projection

Expected distributions for TDAQ. A projected row carries the fund’s own spacing forward from its last ex-date, at the last amount paid. Neither is an issuer statement. Source: ETFIQ.

Every distribution ETFIQ holds for TDAQ (13, most recent first)
Oct 20, 2026$0.3825
Sep 15, 2026$0.3824
Aug 18, 2026$0.3927
Jul 14, 2026$0.39
Jun 16, 2026$0.3955
May 19, 2026$0.3825
Apr 14, 2026$0.3502
Mar 17, 2026$0.3537
Feb 17, 2026$0.3572
Jan 20, 2026$0.3762
Dec 16, 2025$0.374
Nov 18, 2025$0.3702
Oct 21, 2025$0.3814

Cash distributions per share for TDAQ. Source: ETFIQ from Tiingo end-of-day distributions.

Source: ETFIQ, from Tiingo end-of-day distributions.

How much of what it paid out did its total return cover?

Total return as a share of the cash paid
ETTY −271.3%DFII −248.3%BITY −221.7%EHY −216.5%BAGY −174.1%BTCI −167.1%BLOX −164.9%YETH −127.5%ETCO −119.8%YBTC −115.9%TLTI −108.8%KLIP −106.4%LTTI −95.1%BTCC −91.8%YBIT −87.5%XBTY −82.9%BCCC −77.7%LFGY −64.4%TLTP −45.3%FDND −33.8%XLCI −32.7%TLTW −30.3%LQTI −27.4%, and 2 more at this point: ULTY −25.3%, HISF −20.4%TQQY −14.5%YMAX −11.1%OARK −7.1%XLYI −6.1%, and 3 more at this point: MAGY −4.6%, EGGY −2.1%, IGLD 0.0%CEPI 2.3%BNDI 5.4%, and 1 more at this point: IAUI 5.6%OVB 9.5%GDXY 9.9%, and 4 more at this point: QUSA 9.9%, XLRI 9.9%, LQDW 10.7%, YMAG 13.0%YQQQ 18.3%, and 1 more at this point: IWMY 18.4%XLUI 24.1%YSPY 28.1%HYTI 28.3%, and 1 more at this point: HYGW 33.0%QLDY 34.6%, and 2 more at this point: OVM 35.7%, HYBI 38.0%RDTY 39.7%, and 3 more at this point: OVT 40.5%, QDTY 41.1%, RDTE 42.2%GIAX 44.9%RNTY 45.4%, and 3 more at this point: QRMI 45.7%, QDTE 48.2%, ACEI 49.1%AIPI 51.0%, and 6 more at this point: GPTY 53.0%, XDTE 53.3%, IWMW 53.6%, SLJY 53.9%, XLFI 54.3%, SDTY 54.5%WDTE 54.9%, and 1 more at this point: QQQY 59.3%YFYA 60.8%XPAY 66.0%OMAH 67.1%, and 2 more at this point: JUCY 68.8%, BIGY 69.2%XRMI 72.3%, and 2 more at this point: FGSI 72.8%, TCAL 74.5%XLII 76.0%XLBI 81.8%IVVW 85.1%, and 3 more at this point: XLSI 85.1%, QQQI 86.9%, CAIE 87.1%WEEL 88.0%, and 4 more at this point: JULJ 89.3%, FTHI 89.8%, TSPY 89.8%, WTPI 90.0%JULH 91.7%, and 3 more at this point: XIJN 94.1%, OCTJ 94.3%, LJUL 96.2%APRJ 98.4%, and 3 more at this point: LAPR 100.0%, LOCT 100.0%, RYLD 100.0%KHPI 101.1%, and 7 more at this point: APRH 101.6%, OCTH 101.6%, XIDE 101.6%, JANJ 102.0%, CSHI 102.1%, IWMI 102.7%, XLKI 102.8%JANH 103.2%, and 3 more at this point: LJAN 104.1%, QYLG 104.2%, SRHR 105.9%CVRD 106.7%, and 4 more at this point: XISE 106.7%, JEPI 108.7%, NIHI 110.4%, XIMR 111.8%SPYI 114.3%OVF 116.7%, and 2 more at this point: XYLG 116.8%, RYLG 118.1%OEI 120.9%JEPQ 122.4%, and 2 more at this point: CHPY 124.4%, DJIA 127.7%SCLZ 133.3%PBP 136.8%DRKY 137.0%BUYW 142.6%, and 2 more at this point: SDVD 142.7%, XLVI 147.6%XYLD 149.1%, and 2 more at this point: IQQQ 150.0%, KNG 151.7%GPIQ 151.9%FTKI 154.4%, and 3 more at this point: USOY 154.6%, FTQI 155.8%, QYLD 156.9%HCOW 157.8%, and 1 more at this point: OVL 161.9%GPIX 170.9%NBOS 170.9%SPIN 175.5%ISPY 177.2%, and 2 more at this point: OVS 178.9%, YLDE 184.4%DIVO 192.4%RDVI 196.7%DOGG 202.1%IDVO 204.6%, and 2 more at this point: ITWO 206.3%, SEPI 206.9%TDVI 207.6%, and 1 more at this point: SPUT 210.2%BALI 212.0%PAPI 217.5%XLEI 222.3%MDST 248.1%EIPI 307.9%WEEI 311.6%IDUB 320.4%SOXY 385.7%VEGA 561.5%DUBS 743.5%SIXH 862.5%JOYT 1,787.5%OVLH 2,166.7%TDAQ 92.1%TDAQ 92.1%−271.3%2,166.7%
−271.3% to 2,166.7% across 164

That is the share of the 164 income ETFs not writing on a single company sitting at or below TDAQ.

One year only, and a ratio of two published numbers: it says nothing about where a distribution came from. Where the fund sits in this set, not a rating. Do not average it with another category's score.

Total return as a share of the cash paid: 92.1% · 54th pct, −271.3% to 2,166.7% across 164.

Covered the mostOne bar per fund · TDAQ in whiteCovered the least

About TDAQ

Strategyoption income
BenchmarkNasdaq-100 (QQQ)
How the benchmark is set (ETFIQ)TDAQ names the NASDAQ-100 Index (prospectus, Form 485BPOS, accession 0001771146-26-000852, filed 2026-04-29); QQQ tracks the same index.
Paysmonthly
Net assets (SEC filing, whole fund, as filed for Jun 30, 2026)$248mReport
Latest payout, annualized (ETFIQ)17.4%
Expense ratio (497 XBRL, Oct 23, 2026)0.68%Report
Cash paid, last 12 months, over today’s price (ETFIQ)17.0%
First tradedSep 4, 2025
Return of capital, latest distribution (TappAlpha 19a-1 estimate)98.0%
Paysmonthly
Typical gap between ex-dates28 days
Typical wait from ex-date to payment2 days
Last paid, per share$0.3825 ex Oct 20, 2026
Cash paid in the 12 months to Oct 28, 2026, 12 distributions, ex Nov 18, 2025 to Oct 20, 2026$4.5072
How we measure
Every number is an ETFIQ calculation from exchange prices and cash distributions (Tiingo end-of-day), total return with distributions reinvested. Return of capital is the issuer’s estimate. Method
IQ Investment Committee on TDAQ

12 seats on TDAQ, as of Oct 28, 2026: 1 Mixed, 6 Challenges, 4 Not enough data, 1 Does not apply.

In the tradition ofJohn BogleBogle-style Low CostChallenges
In the tradition ofBenjamin GrahamGraham-style Margin of SafetyDoes not apply
In the tradition ofWarren Buffett & Charlie MungerBuffett & Munger-style QualityNot enough data
In the tradition ofPeter LynchLynch-style Growth at a Reasonable PriceNot enough data
In the tradition ofJohn TempletonTempleton-style Global ContrarianNot enough data
In the tradition ofRay DalioDalio-style All-WeatherChallenges
In the tradition ofHoward MarksMarks-style Cycles & RiskChallenges
In the tradition ofStanley DruckenmillerDruckenmiller-style Macro & LiquidityChallenges
In the tradition ofDavid SwensenSwensen-style DiversificationChallenges
In the tradition ofCathie WoodWood-style Disruptive InnovationNot enough data
In the tradition ofJesse LivermoreLivermore-style Trend FollowingMixed
Uses ETFIQ’s measuresThe ETFIQ SkepticETFIQ’s own seatChallenges
Put TDAQ to the committee →See all seats →No investor named is affiliated with or endorses ETFIQ. Not investment advice.

Questions people ask about TDAQ

How much has TDAQ paid over the last year?
Over the year to Oct 28, 2026, TDAQ paid 16.5% of its starting price in cash distributions, while the price fell 2.9%.
Is TDAQ ahead of QQQ?
Over the year to Oct 28, 2026, with every distribution reinvested, TDAQ returned +15.2% against +15.2% for Nasdaq-100 (QQQ), so a holder was about even with it by 0.0 points.
How often does TDAQ pay, and how much?
TDAQ pays monthly. The latest distribution annualizes to 17.4% at its price on Oct 28, 2026, which is not a promise; the next one can differ.
Is the TDAQ distribution return of capital?
TappAlpha estimates 98% of the distribution paid Oct 21, 2026 was return of capital. That is a tax characterization from the fund's own 19a-1 notice, not a measure of erosion.
When does TDAQ next pay a distribution?
TDAQ pays monthly. The last distribution went ex on Oct 20, 2026 at $0.3825 a share. The next is not declared; on a cadence of about 28 days the ex-date falls near Nov 17, 2026, which is an ETFIQ projection. Payment usually follows the ex-date by 2 days.
What does TDAQ cost?
The prospectus expense ratio is 0.68% a year.
How much of TDAQ’s distribution is return of capital?
TappAlpha’s Rule 19a-1 notice estimates 98.0% of the distribution paid Oct 21, 2026 was return of capital. Across its notices for distributions paid Nov 19, 2025 to Oct 21, 2026, the estimate is 99.1%. The annual report for the fiscal year to Dec 31, 2025 puts it at 55.4% of distributions. The year’s notices had estimated 99.7%, so the two were 44.2 points apart. Estimates come before the fund year closes and often change.
Sources and dates
Prices, TDAQ and QQQTiingo end-of-day · Oct 28, 2026
Net assets, $248mSEC filing, whole fund · Jun 30, 2026
DistributionsTiingo end-of-day · 13 payments

Links are sources, not endorsements.

Cite this pageCitation, APA and Markdown

ETFIQ, TDAQ, income ETFs, data as of Oct 28, 2026. https://etfiq.com/funds/tdaq

The payout bar for TDAQ, redrawn every trading night.

Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data.

Price change plus every distribution reinvested on the day it went ex-dividend. This is what you actually ended up with, and the only fair basis for comparing with an index.
Cash paid
Distributions over the window as a share of what the fund cost at the start. A measure of cash delivered, not of return: a fund can pay a great deal and still lose money.
Total return minus benchmark total return, in percentage points. A fund can pay 12% a year and still be behind by 10 points if its price fell while the index rose.
Return of capital
The issuer’s own estimate, in a Rule 19a-1 notice, of how much of a distribution was your own money returned. An estimate and a tax characterization, not a measure of erosion.
The fund owns the stocks and sells call options on them, collecting premium and giving up gains above the strike. Synthetic covered call funds hold options instead of the stocks. 0DTE funds sell options that expire the same day.
A fund that pays a coupon and can be called away early, on dates set when it launched. If it is called, you get your money back with the coupon and the run ends. If it is not, it runs on to the next date.
The level the underlying has to stay above for you to be repaid in full. A barrier is not a buffer. A buffer takes the first slice of a fall for you; a barrier takes none of it once it breaks, so below it you take the whole fall rather than only the part past it.
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TDAQ: TDAQ over 1 year: paid 16.5%, price −2.9%, total +15.2%, QQQ +15.2%, 0.0 pts. Data to Oct 28, 2026.
<figure style="margin:0;max-width:640px">
<a href="https://etfiq.com/funds/tdaq"><img src="https://etfiq.com/assistant/api/embed/income/tdaq.svg" alt="TDAQ: TDAQ over 1 year: paid 16.5%, price −2.9%, total +15.2%, QQQ +15.2%, 0.0 pts. Data to Oct 28, 2026." width="640" style="max-width:100%;height:auto"></a>
<figcaption style="font:13px/1.5 sans-serif">TDAQ: TDAQ over 1 year: paid 16.5%, price −2.9%, total +15.2%, QQQ +15.2%, 0.0 pts. Data to Oct 28, 2026. Data: <a href="https://etfiq.com/funds/tdaq">ETFIQ</a></figcaption>
</figure>

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Snapshot, Oct 28, 2026. More on the tabs above.