GIAX vs. TDAQ

Last updated Aug 4, 2026

GIAX (Nicholas Global Equity and Income ETF) and TDAQ (TappAlpha Innovation 100 Growth & Daily Income ETF) are both Derivative Income funds. Both are actively managed. Their correlation of 0.81 means they have usually moved in the same direction. GIAX charges 1.03%/yr vs 0.83%/yr for TDAQ.

Performance

GIAX vs. TDAQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nicholas Global Equity and Income ETF (GIAX) and TappAlpha Innovation 100 Growth & Daily Income ETF (TDAQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GIAX achieves a 8.67% return, which is significantly lower than TDAQ's 12.92% return.

GIAX

• 1D: 3.13%
• 1M: -3.55%
• 6M: 7.83%
• YTD: 8.67%
• 1Y: 13.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.74%

TDAQ

• 1D: 1.76%
• 1M: -1.19%
• 6M: 11.18%
• YTD: 12.92%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GIAX Nicholas Global Equity and Income ETF	$1.18M	$1.87M	$1.96M
TDAQ TappAlpha Innovation 100 Growth & Daily Income ETF	$8.54M	$8.09M	$6.96M

GIAX vs. TDAQ - Yearly Performance Comparison

	2026 (YTD)	2025
GIAX Nicholas Global Equity and Income ETF	8.67%	2.85%
TDAQ TappAlpha Innovation 100 Growth & Daily Income ETF	12.92%	9.61%

Correlation

The correlation between GIAX and TDAQ is 0.81, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 4, 2025	0.81

GIAX vs. TDAQ - Sectors Allocation Comparison

Sectors	GIAX	TDAQ
Technology	47.0%	60.9%
Communication Services	15.7%	13.1%
Financial Services	11.1%	0.2%
Consumer Cyclical	9.9%	10.7%
Industrials	7.6%	2.7%
Healthcare	2.3%	3.6%
Real Estate	2.2%	0.1%
Basic Materials	1.4%	1.0%
Consumer Defensive	1.0%	6.3%
Energy	0.9%	0.5%
Utilities	0.9%	1.1%

Return for Risk

GIAX vs. TDAQ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GIAX

GIAX Risk / Return Rank: 24
GIAX Sharpe Ratio Rank: 24
GIAX Sortino Ratio Rank: 24
GIAX Omega Ratio Rank: 24
GIAX Calmar Ratio Rank: 23
GIAX Martin Ratio Rank: 27

TDAQ

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GIAX vs. TDAQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nicholas Global Equity and Income ETF (GIAX) and TappAlpha Innovation 100 Growth & Daily Income ETF (TDAQ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	GIAX	TDAQ	Difference
Sharpe ratio: Return per unit of total volatility	0.52	—	—
Sortino ratio: Return per unit of downside risk	0.87	—	—
Omega ratio: Gain probability vs. loss probability	1.11	—	—
Calmar ratio: Return relative to maximum drawdown	0.67	—	—
Martin ratio: Return relative to average drawdown	2.22	—	—

Drawdowns

GIAX vs. TDAQ - Drawdown Comparison

The maximum GIAX drawdown since its inception was -20.38%, which is greater than TDAQ's maximum drawdown of -11.72%. Use the drawdown chart below to compare losses from any high point for GIAX and TDAQ.

Drawdown Indicators

	GIAX	TDAQ	Difference
Max Drawdown Largest peak-to-trough decline	-20.38%	-11.72%	-8.66%
Max Drawdown (1Y) Largest decline over 1 year	-19.64%	—	—
Current Drawdown Current decline from peak	-13.58%	-6.45%	-7.13%
Average Drawdown Average peak-to-trough decline	-3.55%	-2.78%	-0.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.95%	—	—

Volatility

Volatility by Period

	GIAX	TDAQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.49%	—	—
Volatility (6M) Calculated over the trailing 6-month period	22.48%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	25.36%	19.34%	+6.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.62%	19.34%	+3.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.62%	19.34%	+3.28%

GIAX vs. TDAQ - Expense Ratio Comparison

GIAX has a 1.03% expense ratio, which is higher than TDAQ's 0.83% expense ratio.

Dividends

GIAX vs. TDAQ - Dividend Comparison

GIAX's dividend yield for the trailing twelve months is around 26.00%, more than TDAQ's 13.99% yield.

Position	TTM	2025	2024
GIAX Nicholas Global Equity and Income ETF	26.00%	25.62%	10.58%
TDAQ TappAlpha Innovation 100 Growth & Daily Income ETF	13.99%	4.32%	0.00%

Frequently Asked Questions

Can I hold both GIAX and TDAQ in my portfolio?

GIAX and TDAQ have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GIAX or TDAQ?

On fees, TDAQ is cheaper at 0.83% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GIAX or TDAQ?

TDAQ is cheaper with a 0.83% expense ratio, compared with 1.03% for GIAX.

Which ETF pays a higher dividend yield, GIAX or TDAQ?

GIAX has the higher dividend yield at 26.00%, compared with 13.99% for TDAQ.

What is the main difference between GIAX and TDAQ?

They also come from different issuers: Nicholas and TappAlpha. Their fees differ too: 1.03% for GIAX and 0.83% for TDAQ.