TDAX vs. TSPY

Last updated Jun 4, 2026

TDAX (TDAQ Lift ETF) and TSPY (TappAlpha SPY Growth & Daily Income ETF) are both exchange-traded funds - TDAX is a Leveraged Equities fund actively managed by TappAlpha, while TSPY is a Derivative Income fund actively managed by TappAlpha. Both are actively managed. Their correlation of 0.92 suggests significant overlap in exposure. TDAX charges 0.98%/yr vs 0.68%/yr for TSPY.

Performance

TDAX vs. TSPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TDAQ Lift ETF (TDAX) and TappAlpha SPY Growth & Daily Income ETF (TSPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TDAX

• 1D: -0.07%
• 1M: 13.80%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSPY

• 1D: -0.04%
• 1M: 5.21%
• YTD: 9.21%
• 6M: 9.43%
• 1Y: 27.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TDAX vs. TSPY - Yearly Performance Comparison

	2026 (YTD)
TDAX TDAQ Lift ETF	21.51%
TSPY TappAlpha SPY Growth & Daily Income ETF	8.14%

Correlation

The correlation between TDAX and TSPY is 0.92, 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 Jan 8, 2026	0.92

Return for Risk

TDAX vs. TSPY — Risk / Return Rank

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

TSPY

TSPY Risk / Return Rank: 67
TSPY Sharpe Ratio Rank: 71
TSPY Sortino Ratio Rank: 71
TSPY Omega Ratio Rank: 71
TSPY Calmar Ratio Rank: 57
TSPY Martin Ratio Rank: 68

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.

TDAX vs. TSPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TDAQ Lift ETF (TDAX) and TappAlpha SPY Growth & Daily Income ETF (TSPY). 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.

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

Sharpe Ratios by Period

	TDAX	TSPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.36	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.65	1.17	+1.48

Drawdowns

TDAX vs. TSPY - Drawdown Comparison

The maximum TDAX drawdown since its inception was -14.69%, smaller than the maximum TSPY drawdown of -18.02%. Use the drawdown chart below to compare losses from any high point for TDAX and TSPY.

Drawdown Indicators

	TDAX	TSPY	Difference
Max Drawdown Largest peak-to-trough decline	-14.69%	-18.02%	+3.33%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.63%	—
Current Drawdown Current decline from peak	-0.07%	-0.13%	+0.06%
Average Drawdown Average peak-to-trough decline	-3.71%	-2.53%	-1.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.16%	—

Volatility

Volatility by Period

	TDAX	TSPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.52%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.72%	—
Volatility (1Y) Calculated over the trailing 1-year period	23.71%	11.68%	+12.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.71%	16.05%	+7.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.71%	16.05%	+7.66%

TDAX vs. TSPY - Expense Ratio Comparison

TDAX has a 0.98% expense ratio, which is higher than TSPY's 0.68% expense ratio.

Dividends

TDAX vs. TSPY - Dividend Comparison

TDAX's dividend yield for the trailing twelve months is around 7.40%, less than TSPY's 13.68% yield.

Position	TTM	2025	2024
TDAX TDAQ Lift ETF	7.40%	0.00%	0.00%
TSPY TappAlpha SPY Growth & Daily Income ETF	13.68%	13.69%	3.45%

Frequently Asked Questions

Can I hold both TDAX and TSPY in my portfolio?

With a correlation of 0.92, TDAX and TSPY 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, TDAX or TSPY?

On fees, TSPY is cheaper at 0.68% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TDAX or TSPY?

TSPY is cheaper with a 0.68% expense ratio, compared with 0.98% for TDAX.

Which ETF pays a higher dividend yield, TDAX or TSPY?

TSPY has the higher dividend yield at 13.68%, compared with 7.40% for TDAX.

What is the main difference between TDAX and TSPY?

TDAX is categorized as Leveraged Equities, while TSPY is Derivative Income. Their fees differ too: 0.98% for TDAX and 0.68% for TSPY.