TDAQ vs. QDTE

Last updated Jun 12, 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. Their correlation of 0.95 suggests significant overlap in exposure. 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 14.00% return, which is significantly higher than QDTE's 12.09% return.

TDAQ

• 1D: 1.39%
• 1M: 0.09%
• YTD: 14.00%
• 6M: 12.43%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QDTE

• 1D: 2.42%
• 1M: 0.77%
• YTD: 12.09%
• 6M: 10.98%
• 1Y: 33.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*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	14.00%	9.61%
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	12.09%	9.64%

Correlation

The correlation between TDAQ and QDTE 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

TDAQ vs. QDTE - Sectors Allocation Comparison

Sectors	TDAQ	QDTE
Technology	54.2%	-
Communication Services	15.5%	-
Consumer Cyclical	12.2%	-
Consumer Defensive	7.6%	-
Healthcare	4.2%	-
Industrials	2.8%	-
Utilities	1.4%	-
Basic Materials	1.2%	-
Energy	0.6%	-
Financial Services	0.2%	5.4%
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: 76
QDTE Sharpe Ratio Rank: 78
QDTE Sortino Ratio Rank: 71
QDTE Omega Ratio Rank: 76
QDTE Calmar Ratio Rank: 76
QDTE Martin Ratio Rank: 80

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	—	2.08	—
Sortino ratio: Return per unit of downside risk	—	2.64	—
Omega ratio: Gain probability vs. loss probability	—	1.37	—
Calmar ratio: Return relative to maximum drawdown	—	3.26	—
Martin ratio: Return relative to average drawdown	—	12.72	—

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	-5.56%	-4.00%	-1.56%
Average Drawdown Average peak-to-trough decline	-2.31%	-3.15%	+0.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.61%	—

Volatility

Volatility by Period

	TDAQ	QDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.09%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.65%	—
Volatility (1Y) Calculated over the trailing 1-year period	18.02%	15.98%	+2.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.02%	18.78%	-0.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.02%	18.78%	-0.76%

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 10.64%, less than QDTE's 45.00% yield.

Position	TTM	2025	2024
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF	45.00%	49.49%	32.09%
TDAQ TappAlpha Innovation 100 Growth & Daily Income ETF	10.64%	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 45.00%, compared with 10.64% 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.