QDTE vs. TDAQ
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 0.96 correlation means they have historically moved very closely together. QDTE charges 0.95%/yr vs 0.83%/yr for TDAQ.
Performance
QDTE vs. TDAQ - Performance Comparison
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Returns By Period
In the year-to-date period, QDTE achieves a 11.57% return, which is significantly lower than TDAQ's 12.92% return.
QDTE
- 1D
- 0.94%
- 1M
- -0.61%
- 6M
- 9.13%
- YTD
- 11.57%
- 1Y
- 26.26%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 20.27%
TDAQ
- 1D
- 1.76%
- 1M
- -1.19%
- 6M
- 11.18%
- YTD
- 12.92%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $17.47M | $18.24M | $19.80M | |
| $8.54M | $8.09M | $6.96M |
QDTE vs. TDAQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF | 11.57% | 9.64% |
TDAQ TappAlpha Innovation 100 Growth & Daily Income ETF | 12.92% | 9.61% |
Correlation
The correlation between QDTE and TDAQ is 0.96 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 4, 2025 | 0.96 |
QDTE vs. TDAQ - Sectors Allocation Comparison
Sectors
QDTE
TDAQ
Financial Services
Basic Materials
-
Communication Services
-
Consumer Cyclical
-
Consumer Defensive
-
Energy
-
Healthcare
-
Industrials
-
Real Estate
-
Technology
-
Utilities
-
Financial Services
QDTE
TDAQ
Basic Materials
QDTE
-
TDAQ
Communication Services
QDTE
-
TDAQ
Consumer Cyclical
QDTE
-
TDAQ
Consumer Defensive
QDTE
-
TDAQ
Energy
QDTE
-
TDAQ
Healthcare
QDTE
-
TDAQ
Industrials
QDTE
-
TDAQ
Real Estate
QDTE
-
TDAQ
Technology
QDTE
-
TDAQ
Utilities
QDTE
-
TDAQ
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Return for Risk
QDTE vs. TDAQ — Risk / Return Rank
QDTE
TDAQ
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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 ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.26 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.59 | — | — |
| Martin ratioReturn relative to average drawdown | 8.76 | — | — |
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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 -11.72%. Use the drawdown chart below to compare losses from any high point for QDTE and TDAQ.
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Drawdown Indicators
| QDTE | TDAQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.86% | -11.72% | -11.14% |
Max Drawdown (1Y)Largest decline over 1 year | -10.20% | — | — |
Current DrawdownCurrent decline from peak | -4.45% | -6.45% | +2.00% |
Average DrawdownAverage peak-to-trough decline | -3.17% | -2.78% | -0.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | — | — |
Volatility
QDTE vs. TDAQ - Volatility Comparison
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Volatility by Period
| QDTE | TDAQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.69% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 14.76% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 17.99% | 19.34% | -1.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.17% | 19.34% | -0.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.17% | 19.34% | -0.17% |
QDTE vs. TDAQ - Expense Ratio Comparison
QDTE has a 0.95% 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 45.98%, more than TDAQ's 13.99% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF | 45.98% | 49.49% | 32.09% |
TDAQ TappAlpha Innovation 100 Growth & Daily Income ETF | 13.99% | 4.32% | 0.00% |
Frequently Asked Questions
With a correlation of 0.96, 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.
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.
TDAQ is cheaper with a 0.83% expense ratio, compared with 0.95% for QDTE.
QDTE has the higher dividend yield at 45.98%, compared with 13.99% for TDAQ.
They also come from different issuers: Roundhill and TappAlpha. Their fees differ too: 0.95% for QDTE and 0.83% for TDAQ.
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