TSPY vs. TDAX

Last updated Jun 25, 2026

TSPY (TappAlpha S&P 500 Growth & Daily Income ETF) and TDAX (TDAQ Lift ETF) are both exchange-traded funds - TSPY is a Derivative Income fund actively managed by TappAlpha, while TDAX is a Leveraged Equities fund actively managed by TappAlpha. Both are actively managed. Their correlation of 0.91 suggests significant overlap in exposure. TSPY charges 0.68%/yr vs 0.98%/yr for TDAX.

Performance

TSPY vs. TDAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TappAlpha S&P 500 Growth & Daily Income ETF (TSPY) and TDAQ Lift ETF (TDAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TSPY

• 1D: 0.00%
• 1M: -1.28%
• YTD: 6.10%
• 6M: 4.82%
• 1Y: 21.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TDAX

• 1D: -1.09%
• 1M: -4.01%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSPY vs. TDAX - Yearly Performance Comparison

	2026 (YTD)
TSPY TappAlpha S&P 500 Growth & Daily Income ETF	4.56%
TDAX TDAQ Lift ETF	12.52%

Correlation

The correlation between TSPY and TDAX is 0.91, 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 7, 2026	0.91

Return for Risk

TSPY vs. TDAX — Risk / Return Rank

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

TSPY

TSPY Risk / Return Rank: 56
TSPY Sharpe Ratio Rank: 57
TSPY Sortino Ratio Rank: 56
TSPY Omega Ratio Rank: 58
TSPY Calmar Ratio Rank: 50
TSPY Martin Ratio Rank: 60

TDAX

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

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. TDAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TappAlpha S&P 500 Growth & Daily Income ETF (TSPY) and TDAQ Lift ETF (TDAX). 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.

	TSPY	TDAX	Difference
Sharpe ratio: Return per unit of total volatility	1.75	—	—
Sortino ratio: Return per unit of downside risk	2.43	—	—
Omega ratio: Gain probability vs. loss probability	1.32	—	—
Calmar ratio: Return relative to maximum drawdown	2.24	—	—
Martin ratio: Return relative to average drawdown	9.60	—	—

Drawdowns

TSPY vs. TDAX - Drawdown Comparison

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

Drawdown Indicators

	TSPY	TDAX	Difference
Max Drawdown Largest peak-to-trough decline	-18.02%	-14.69%	-3.33%
Max Drawdown (1Y) Largest decline over 1 year	-9.63%	—	—
Current Drawdown Current decline from peak	-2.97%	-7.58%	+4.61%
Average Drawdown Average peak-to-trough decline	-2.51%	-3.78%	+1.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.24%	—	—

Volatility

Volatility by Period

	TSPY	TDAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.55%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.54%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.33%	26.95%	-14.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.12%	26.95%	-10.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.12%	26.95%	-10.83%

TSPY vs. TDAX - Expense Ratio Comparison

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

Dividends

TSPY vs. TDAX - Dividend Comparison

TSPY's dividend yield for the trailing twelve months is around 14.08%, more than TDAX's 9.01% yield.

Position	TTM	2025	2024
TDAX TDAQ Lift ETF	9.01%	0.00%	0.00%
TSPY TappAlpha S&P 500 Growth & Daily Income ETF	14.08%	13.69%	3.45%

Frequently Asked Questions

Can I hold both TSPY and TDAX in my portfolio?

With a correlation of 0.91, TSPY and TDAX 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, TSPY or TDAX?

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, TSPY or TDAX?

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

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

TSPY has the higher dividend yield at 14.08%, compared with 9.01% for TDAX.

What is the main difference between TSPY and TDAX?

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