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TDAQ vs. HDV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TDAQ vs. HDV

Last updated Jun 25, 2026

TDAQ (TappAlpha Innovation 100 Growth & Daily Income ETF) and HDV (iShares Core High Dividend ETF) are both exchange-traded funds - TDAQ is a Derivative Income fund actively managed by TappAlpha, while HDV is a Dividend fund tracking the Morningstar Dividend Yield Focus Index. TDAQ is actively managed, while HDV is passively managed. At a correlation of -0.13, they often move in opposite directions. TDAQ charges 0.83%/yr vs 0.08%/yr for HDV.

Performance

TDAQ vs. HDV - Performance Comparison

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

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Returns By Period

The year-to-date returns for both investments are quite close, with TDAQ having a 13.36% return and HDV slightly higher at 13.95%.

TDAQ

1D
-1.31%
1M
-2.14%
YTD
13.36%
6M
11.74%
1Y
—
3Y*
—
5Y*
—
10Y*
—

HDV

1D
-0.11%
1M
-1.46%
YTD
13.95%
6M
13.56%
1Y
20.98%
3Y*
15.44%
5Y*
10.95%
10Y*
9.44%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TDAQ vs. HDV - Yearly Performance Comparison

2026 (YTD)2025
TDAQ
TappAlpha Innovation 100 Growth & Daily Income ETF		13.36%9.61%
HDV
iShares Core High Dividend ETF		13.95%1.35%

Correlation

The correlation between TDAQ and HDV is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

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

-0.13

TDAQ vs. HDV - Sectors Allocation Comparison

Sectors
TDAQ
HDV

Technology

58.7%
0.2%

Communication Services

14.3%
5.7%

Consumer Cyclical

11.4%
9.2%

Consumer Defensive

6.4%
24.5%

Healthcare

3.7%
22.6%

Industrials

2.6%
3.5%

Utilities

1.2%
8.1%

Basic Materials

1.0%
0.8%

Energy

0.5%
20.2%

Financial Services

0.2%
4.7%

Real Estate

0.1%

-

Technology

TDAQ
58.7%
HDV
0.2%

Communication Services

TDAQ
14.3%
HDV
5.7%

Consumer Cyclical

TDAQ
11.4%
HDV
9.2%

Consumer Defensive

TDAQ
6.4%
HDV
24.5%

Healthcare

TDAQ
3.7%
HDV
22.6%

Industrials

TDAQ
2.6%
HDV
3.5%

Utilities

TDAQ
1.2%
HDV
8.1%

Basic Materials

TDAQ
1.0%
HDV
0.8%

Energy

TDAQ
0.5%
HDV
20.2%

Financial Services

TDAQ
0.2%
HDV
4.7%

Real Estate

TDAQ
0.1%
HDV

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

TappAlpha Innovation 100 Growth & Daily Income ETF

iShares Core High Dividend ETF

Often compared with TDAQ:
TDAQ vs. QQQITDAQ vs. TSPYTDAQ vs. QQQTDAQ vs. KQQQTDAQ vs. QDTETDAQ vs. GPIQTDAQ vs. QDVO
Often compared with HDV:
HDV vs. SCHDHDV vs. VYMHDV vs. SPYDHDV vs. DGROHDV vs. DVYHDV vs. VIGHDV vs. SPY

Return for Risk

TDAQ vs. HDV — Risk / Return Rank

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

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

HDV
HDV Risk / Return Rank: 7474
Overall Rank
HDV Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
HDV Sortino Ratio Rank: 7878
Sortino Ratio Rank
HDV Omega Ratio Rank: 6868
Omega Ratio Rank
HDV Calmar Ratio Rank: 8383
Calmar Ratio Rank
HDV Martin Ratio Rank: 6868
Martin Ratio Rank
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.

TDAQ vs. HDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TappAlpha Innovation 100 Growth & Daily Income ETF (TDAQ) and iShares Core High Dividend ETF (HDV). 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.

TDAQHDVDifference
Sharpe ratioReturn per unit of total volatility

—

2.12

—

Sortino ratioReturn per unit of downside risk

—

3.11

—

Omega ratioGain probability vs. loss probability

—

1.36

—

Calmar ratioReturn relative to maximum drawdown

—

4.07

—

Martin ratioReturn relative to average drawdown

—

11.13

—

TDAQ vs. HDV - Sharpe Ratio Comparison

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Drawdowns

TDAQ vs. HDV - Drawdown Comparison

The maximum TDAQ drawdown since its inception was -11.31%, smaller than the maximum HDV drawdown of -37.04%. Use the drawdown chart below to compare losses from any high point for TDAQ and HDV.

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Drawdown Indicators

TDAQHDVDifference

Max Drawdown

Largest peak-to-trough decline

-11.31%

-37.04%

+25.73%

Max Drawdown (1Y)

Largest decline over 1 year

—

-5.18%

—

Max Drawdown (3Y)

Largest decline over 3 years

—

-10.49%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-15.42%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-37.04%

—

Current Drawdown

Current decline from peak

-6.08%

-1.46%

-4.62%

Average Drawdown

Average peak-to-trough decline

-2.35%

-3.08%

+0.73%

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

1.89%

—

Volatility

TDAQ vs. HDV - Volatility Comparison

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Volatility by Period

TDAQHDVDifference

Volatility (1M)

Calculated over the trailing 1-month period

—

3.45%

—

Volatility (6M)

Calculated over the trailing 6-month period

—

7.60%

—

Volatility (1Y)

Calculated over the trailing 1-year period

18.54%

9.93%

+8.61%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.54%

12.81%

+5.73%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.54%

15.73%

+2.81%

TDAQ vs. HDV - Expense Ratio Comparison

TDAQ has a 0.83% expense ratio, which is higher than HDV's 0.08% expense ratio.

Dividends

TDAQ vs. HDV - Dividend Comparison

TDAQ's dividend yield for the trailing twelve months is around 12.31%, more than HDV's 2.90% yield.

PositionTTM20252024202320222021202020192018201720162015
HDV
iShares Core High Dividend ETF		2.90%3.22%3.67%3.82%3.56%3.47%4.07%3.27%3.67%3.27%3.28%3.92%
TDAQ
TappAlpha Innovation 100 Growth & Daily Income ETF		12.31%4.32%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

TDAQ and HDV have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, HDV is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

HDV is cheaper with a 0.08% expense ratio, compared with 0.83% for TDAQ.

TDAQ has the higher dividend yield at 12.31%, compared with 2.90% for HDV.

TDAQ is categorized as Derivative Income, while HDV is Dividend. They also come from different issuers: TappAlpha and iShares. Their fees differ too: 0.83% for TDAQ and 0.08% for HDV.

Portfolio Optimizer

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