QDTE vs. TDAQ

Last updated Jun 24, 2026

QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) and TDAQ (TappAlpha Innovation 100 Growth & Daily Income ETF) are both Derivative Income funds. Both are actively managed. Their correlation of 0.95 suggests significant overlap in exposure. QDTE charges 0.97%/yr vs 0.83%/yr for TDAQ.

Performance

QDTE vs. TDAQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) 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, QDTE achieves a 12.61% return, which is significantly lower than TDAQ's 14.87% return.

QDTE

• 1D: -3.23%
• 1M: -0.17%
• YTD: 12.61%
• 6M: 11.52%
• 1Y: 33.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TDAQ

• 1D: -2.79%
• 1M: -0.85%
• YTD: 14.87%
• 6M: 13.47%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QDTE vs. TDAQ - Yearly Performance Comparison

	2026 (YTD)	2025
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	12.61%	9.64%
TDAQ TappAlpha Innovation 100 Growth & Daily Income ETF	14.87%	9.61%

Correlation

The correlation between QDTE and TDAQ is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 4, 2025	0.95

QDTE vs. TDAQ - Sectors Allocation Comparison

Sectors	QDTE	TDAQ
Financial Services	5.4%	0.2%
Basic Materials	-	1.0%
Communication Services	-	14.3%
Consumer Cyclical	-	11.4%
Consumer Defensive	-	6.4%
Energy	-	0.5%
Healthcare	-	3.7%
Industrials	-	2.6%
Real Estate	-	0.1%
Technology	-	58.7%
Utilities	-	1.2%

Return for Risk

QDTE vs. TDAQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QDTE

QDTE Risk / Return Rank: 64
QDTE Sharpe Ratio Rank: 64
QDTE Sortino Ratio Rank: 56
QDTE Omega Ratio Rank: 62
QDTE Calmar Ratio Rank: 68
QDTE Martin Ratio Rank: 71

TDAQ

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

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

QDTE vs. TDAQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) 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.

	QDTE	TDAQ	Difference
Sharpe ratio: Return per unit of total volatility	2.03	—	—
Sortino ratio: Return per unit of downside risk	2.58	—	—
Omega ratio: Gain probability vs. loss probability	1.36	—	—
Calmar ratio: Return relative to maximum drawdown	3.31	—	—
Martin ratio: Return relative to average drawdown	12.82	—	—

Drawdowns

QDTE vs. TDAQ - Drawdown Comparison

The maximum QDTE drawdown since its inception was -22.86%, which is greater than TDAQ's maximum drawdown of -11.31%. Use the drawdown chart below to compare losses from any high point for QDTE and TDAQ.

Drawdown Indicators

	QDTE	TDAQ	Difference
Max Drawdown Largest peak-to-trough decline	-22.86%	-11.31%	-11.55%
Max Drawdown (1Y) Largest decline over 1 year	-10.20%	—	—
Current Drawdown Current decline from peak	-3.55%	-4.84%	+1.29%
Average Drawdown Average peak-to-trough decline	-3.13%	-2.34%	-0.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.63%	—	—

Volatility

Volatility by Period

	QDTE	TDAQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.57%	—	—
Volatility (6M) Calculated over the trailing 6-month period	13.32%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.68%	18.52%	-1.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.99%	18.52%	+0.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.99%	18.52%	+0.47%

QDTE vs. TDAQ - Expense Ratio Comparison

QDTE has a 0.97% expense ratio, which is higher than TDAQ's 0.83% expense ratio.

Dividends

QDTE vs. TDAQ - Dividend Comparison

QDTE's dividend yield for the trailing twelve months is around 44.23%, more than TDAQ's 12.14% yield.

Position	TTM	2025	2024
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	44.23%	49.49%	32.09%
TDAQ TappAlpha Innovation 100 Growth & Daily Income ETF	12.14%	4.32%	0.00%

Frequently Asked Questions

Can I hold both QDTE and TDAQ in my portfolio?

With a correlation of 0.95, QDTE and TDAQ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, QDTE 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, QDTE or TDAQ?

TDAQ is cheaper with a 0.83% expense ratio, compared with 0.97% for QDTE.

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

QDTE has the higher dividend yield at 44.23%, compared with 12.14% for TDAQ.

What is the main difference between QDTE and TDAQ?

They also come from different issuers: Roundhill and TappAlpha. Their fees differ too: 0.97% for QDTE and 0.83% for TDAQ.