TSPY vs. TDAQ

Last updated Jun 3, 2026

TSPY (TappAlpha SPY Growth & Daily Income ETF) and TDAQ (TappAlpha Innovation 100 Growth & Daily Income ETF) are both Derivative Income funds from TappAlpha. Both are actively managed. Their correlation of 0.87 suggests significant overlap in exposure. Both charge a 0.68% expense ratio.

Performance

TSPY vs. TDAQ - Performance Comparison

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

Returns By Period

In the year-to-date period, TSPY achieves a 9.26% return, which is significantly lower than TDAQ's 20.71% return.

TSPY

• 1D: -0.09%
• 1M: 4.80%
• YTD: 9.26%
• 6M: 9.86%
• 1Y: 28.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TDAQ

• 1D: 0.65%
• 1M: 10.93%
• YTD: 20.71%
• 6M: 20.02%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSPY vs. TDAQ - Yearly Performance Comparison

	2026 (YTD)	2025
TSPY TappAlpha SPY Growth & Daily Income ETF	9.26%	6.39%
TDAQ TappAlpha Innovation 100 Growth & Daily Income ETF	20.71%	8.90%

Correlation

The correlation between TSPY and TDAQ is 0.87, 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 5, 2025	0.87

Return for Risk

TSPY vs. TDAQ — Risk / Return Rank

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

TSPY

TSPY Risk / Return Rank: 70
TSPY Sharpe Ratio Rank: 73
TSPY Sortino Ratio Rank: 73
TSPY Omega Ratio Rank: 74
TSPY Calmar Ratio Rank: 59
TSPY Martin Ratio Rank: 70

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.

TSPY vs. TDAQ - Risk-Adjusted Trends Comparison

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

	TSPY	TDAQ	Difference
Sharpe ratio Return per unit of total volatility	2.42	—	—
Sortino ratio Return per unit of downside risk	3.35	—	—
Omega ratio Gain probability vs. loss probability	1.45	—	—
Calmar ratio Return relative to maximum drawdown	2.99	—	—
Martin ratio Return relative to average drawdown	13.33	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	TSPY	TDAQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.42	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.17	2.62	-1.44

Drawdowns

TSPY vs. TDAQ - Drawdown Comparison

The maximum TSPY drawdown since its inception was -18.02%, which is greater than TDAQ's maximum drawdown of -11.31%. Use the drawdown chart below to compare losses from any high point for TSPY and TDAQ.

Drawdown Indicators

	TSPY	TDAQ	Difference
Max Drawdown Largest peak-to-trough decline	-18.02%	-11.31%	-6.71%
Max Drawdown (1Y) Largest decline over 1 year	-9.63%	—	—
Current Drawdown Current decline from peak	-0.09%	0.00%	-0.09%
Average Drawdown Average peak-to-trough decline	-2.53%	-2.26%	-0.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.16%	—	—

Volatility

Volatility by Period

	TSPY	TDAQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.60%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.74%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	11.68%	17.17%	-5.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.07%	17.17%	-1.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.07%	17.17%	-1.10%

TSPY vs. TDAQ - Expense Ratio Comparison

Both TSPY and TDAQ have an expense ratio of 0.68%.

Dividends

TSPY vs. TDAQ - Dividend Comparison

TSPY's dividend yield for the trailing twelve months is around 14.76%, more than TDAQ's 10.05% yield.

Position	TTM	2025	2024
TDAQ TappAlpha Innovation 100 Growth & Daily Income ETF	10.05%	4.32%	0.00%
TSPY TappAlpha SPY Growth & Daily Income ETF	13.67%	13.69%	3.45%

Frequently Asked Questions

Can I hold both TSPY and TDAQ in my portfolio?

TSPY and TDAQ have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TSPY or TDAQ?

Both ETFs have the same 0.68% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TSPY or TDAQ?

TSPY and TDAQ have the same expense ratio: 0.68% per year.

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

TSPY has the higher dividend yield at 14.76%, compared with 10.05% for TDAQ.