TDAQ vs. QDTE

Last updated Jul 22, 2026

TDAQ (TappAlpha Innovation 100 Growth & Daily Income ETF) and QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) are both Derivative Income funds. Both are actively managed. With a 0.95 correlation, they move nearly in lockstep. TDAQ charges 0.83%/yr vs 0.97%/yr for QDTE.

Performance

TDAQ vs. QDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TappAlpha Innovation 100 Growth & Daily Income ETF (TDAQ) and Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TDAQ achieves a 14.17% return, which is significantly higher than QDTE's 13.08% return.

TDAQ

• 1D: 1.95%
• 1M: -3.21%
• 6M: 15.60%
• YTD: 14.17%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

QDTE

• 1D: 1.85%
• 1M: -2.74%
• 6M: 14.11%
• YTD: 13.08%
• 1Y: 26.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 21.29%

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

TDAQ vs. QDTE - Yearly Performance Comparison

	2026 (YTD)	2025
TDAQ TappAlpha Innovation 100 Growth & Daily Income ETF	14.17%	9.61%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	13.08%	9.64%

Correlation

The correlation between TDAQ and QDTE is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

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

TDAQ vs. QDTE - Sectors Allocation Comparison

Sectors	TDAQ	QDTE
Technology	60.9%	-
Communication Services	13.1%	-
Consumer Cyclical	10.7%	-
Consumer Defensive	6.3%	-
Healthcare	3.6%	-
Industrials	2.7%	-
Utilities	1.1%	-
Basic Materials	1.0%	-
Energy	0.5%	-
Financial Services	0.2%	5.1%
Real Estate	0.1%	-

Return for Risk

TDAQ vs. QDTE — 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.

QDTE

QDTE Risk / Return Rank: 63
QDTE Sharpe Ratio Rank: 61
QDTE Sortino Ratio Rank: 55
QDTE Omega Ratio Rank: 58
QDTE Calmar Ratio Rank: 70
QDTE Martin Ratio Rank: 72

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. QDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TappAlpha Innovation 100 Growth & Daily Income ETF (TDAQ) and Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE). 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.

	TDAQ	QDTE	Difference
Sharpe ratio: Return per unit of total volatility	—	1.50	—
Sortino ratio: Return per unit of downside risk	—	2.00	—
Omega ratio: Gain probability vs. loss probability	—	1.27	—
Calmar ratio: Return relative to maximum drawdown	—	2.58	—
Martin ratio: Return relative to average drawdown	—	9.47	—

Drawdowns

TDAQ vs. QDTE - Drawdown Comparison

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

Drawdown Indicators

	TDAQ	QDTE	Difference
Max Drawdown Largest peak-to-trough decline	-11.31%	-22.86%	+11.55%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.20%	—
Current Drawdown Current decline from peak	-5.42%	-3.15%	-2.27%
Average Drawdown Average peak-to-trough decline	-2.55%	-3.13%	+0.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.78%	—

Volatility

Volatility by Period

	TDAQ	QDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.92%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.36%	—
Volatility (1Y) Calculated over the trailing 1-year period	18.92%	17.51%	+1.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.92%	19.08%	-0.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.92%	19.08%	-0.16%

TDAQ vs. QDTE - Expense Ratio Comparison

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

Dividends

TDAQ vs. QDTE - Dividend Comparison

TDAQ's dividend yield for the trailing twelve months is around 13.84%, less than QDTE's 45.15% yield.

Position	TTM	2025	2024
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	45.15%	49.49%	32.09%
TDAQ TappAlpha Innovation 100 Growth & Daily Income ETF	13.84%	4.32%	0.00%

Frequently Asked Questions

Can I hold both TDAQ and QDTE in my portfolio?

With a correlation of 0.95, TDAQ and QDTE 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, TDAQ or QDTE?

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, TDAQ or QDTE?

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

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

QDTE has the higher dividend yield at 45.15%, compared with 13.84% for TDAQ.

What is the main difference between TDAQ and QDTE?

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