TDAQ:
TappAlpha Innovation 100 Growth & Daily Income ETF

Investment Objective:

The TappAlpha Innovation 100 Growth & Daily Income ETF (the “Fund”) seeks current income while maintaining prospects for capital appreciation. The Fund’s secondary investment objective is to seek exposure to the performance of the NASDAQ-100® Index, through investment in one or more exchange-traded funds that track the NASDAQ-100® Index and/or through direct investment in some or all of the equity securities that comprise the NASDAQ-100® Index.

Fact Sheet
Prospectus

As of:

MM/DD/YY

Market Price
$
XX.XX
NAV Price
$
XX.XX
Net Assets
XXX,XXX,XXX
Total Expense Ratio
0.68
0.98
%
Management Fee
0.68
%
Total Expense Ratio
0.71
%
Management Fee
0.68
%
Total Expense Ratio
0.83
%
Distribution Rate
XX
30 Day SEC Yield
XX
The return of capital for this most recent distribution was estimated to be XX%. The Fund currently expects, but does not guarantee, to make distributions on a monthly basis. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next. These distributions may exceed the Fund's income and gains for the Fund's taxable year. Distributions in excess of the Fund's current and accumulated earnings and profits will be treated as a return of capital. Monthly distributions, if any, may consist of returns of capital, which would decrease the Fund’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment.
The return of capital for this most recent distribution was estimated to be XX%. The Fund currently expects, but does not guarantee, to make distributions on a weekly basis. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next. These distributions may exceed the Fund's income and gains for the Fund's taxable year. Distributions in excess of the Fund's current and accumulated earnings and profits will be treated as a return of capital. Weekly distributions, if any, may consist of returns of capital, which would decrease the Fund’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment.
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TDAQ: The Nasdaq-100 Meets Growth + Income

The TappAlpha Innovation 100 Growth & Daily Income ETF (TDAQ) pairs exposure to the Nasdaq-100 with TappAlpha’s options-based daily Growth + Income strategy. The Nasdaq-100 brings together many of the world’s leading companies across technology, communications, and consumer innovation.

The fund aims to achieve its objectives through:

Growth

Direct exposure to the NASDAQ-100 technology index for consistent capital appreciation opportunities.

Income Generation

Our strategy identifies and analyzes various dynamic parameters, increasing the potential for consistent, additive income generation.

Maximized Time Decay

By writing call options each trading day that expire the same day, TDAQ seeks to capitalize on the rapid time decay inherent to 0DTE option positions.

An icon of a shield with a clock on it

Reduced Time Risk

The daily expiration of the options minimizes prolonged market exposure, seeking to reduce unfavorable shifts in the underlying security.

Flexibility

As market conditions change, so do the fund’s positions, offering the best chance to participate in both the underlying security's performance and the simultaneous harvesting of daily options premiums.

View the leveraged fund:
TDAX
Same strategy. Lightly leveraged.

How the T² Lift™ Series Works

Same Core Strategy

The T² Lift™ Series is built on the same systematic options-based framework as TSPY and TDAQ. The fund uses the same underlying investment approach designed to seek income while maintaining exposure to the underlying equity market.

Light Leverage (~30%)

The T² Lift™ Series applies light leverage to the core strategy, seeking to provide approximately 30% greater exposure to the growth and income profile of the underlying fund. This leverage is intended to amplify participation in both income generation and market movements.

Risk & Volatility Tradeoff

Because the fund uses leverage, gains and losses may be magnified compared to the non-leveraged fund. The T² Lift™ Series is designed for investors who understand the risks of leveraged exposure and are comfortable with increased volatility.

Leveraged exposure may increase the impact of market movements on the fund’s performance. Investors should carefully consider the fund’s investment objectives, risks, charges, and expenses before investing.
View the non-leveraged fund:
TDAX

TSPY featured on Nasdaq

Just for Funds dives into the TSPY strategy with our very own Si Katara. Watch to find out where it fits in your portfolio!

Thumbnail of Si speaking in front of a Nasdaq sign.

At a Glance...

As Of:
MM/DD/YYYY
Primary Exchange
Cboe
Number of Holdings
XX
Shares Outstanding
XXX,XXX
Premium/Discount
X.XX%
30-Day Median Bid-Ask
X.XX%
ISIN
US26923N5462
Inception Date
September 4, 2025
CUSIP
26923N546

Price Performance

As of:

MM/DD/YY
MM/DD/YY
Market Price:
$XX.XX
(Change:
X.XX
)
NAV Price:
$XX.XX
(Change:
)
Monthly
Quarterly

Total Returns Performance thru

—

Performance Disclosure

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained above. Returns less than one year are not annualized.
Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns. The Fund does not have a track record of reporting to investors or widely available research coverage which may result in price volatility.
Market performance is the price at which shares in the ETF can be brought or sold on the exchanges during trading hours, while the net asset value (NAV) represents the value of each share’s portion of the fund’s underlying assets and cash at the end of the trading day.

Distributions

As of:

MM/DD/YYYY

Distribution Rate
—

As of:

MM/DD/YYYY

30 Day SEC Yield
—

As of:

MM/DD/YYYY

12-month Trailing Distribution Yield
—

As of:

MM/DD/YYYY

Declaration Date
Record Date
Ex-Date
Pay Date
Amount
Supplemental Tax Information
The Fund currently expects, but does not guarantee, to make distributions on a monthly basis. These distributions may exceed the Fund's income and gains for the Fund's taxable year. Distributions in excess of the Fund's current and accumulated earnings and profits will be treated as a return of capital.

The final tax character of the Funds' distributions will not be determined until the end of the Funds' fiscal year. Accordingly, there is no guarantee regarding the portion of each Fund’s distributions that will be classified as a return of capital or dividend income. The final tax character of distributions paid by the Funds in 2026 will be provided to shareholders on Form 1099-DIV.

The return of capital for this most recent distribution was estimated to be XX%.
The Fund currently expects, but does not guarantee, to make distributions on a weekly basis. These distributions may exceed the Fund's income and gains for the Fund's taxable year. Distributions in excess of the Fund's current and accumulated earnings and profits will be treated as a return of capital.

The final tax character of the Funds' distributions will not be determined until the end of the Funds' fiscal year. Accordingly, there is no guarantee regarding the portion of each Fund’s distributions that will be classified as a return of capital or dividend income. The final tax character of distributions paid by the Funds in 2026 will be provided to shareholders on Form 1099-DIV.

The return of capital for this most recent distribution was estimated to be XX%.

Holdings

View
Sep 2, 2026
Intraday Options
View
Sep 2, 2026
Intraday Options

As of:

MM/DD/YYYY

Ticker
Security Description
CUSIP / ISIN
% of Funds
Shares / Contracts
Market Value
Fund holdings and allocations are subject to change and should not be considered recommendations to buy or sell any security.

Premium/Discount

As of:
MM/DD/YYYY
Premium/Discount
XX.XX%
Number of Days at
Premium
Days
Discount
Days
Both
Days
Both (YTD)
Days
P/D +/- 2%
Days
The performance data quoted represents past performance. Past performance does not guarantee future results.

Supplemental Discussion

TappAlpha (“Advisor”) will provide a discussion in the event the ETF’s premium or discount has been greater than 2% for seven consecutive trading days.

Fund Documents

Frequently Asked Questions

What is TDAQ?

TDAQ is the TappAlpha Innovation 100 Growth & Daily Income ETF. The Fund seeks current income while maintaining prospects for capital appreciation, with a secondary objective of exposure to the performance of the Nasdaq-100 Index. It pursues this through a daily covered call strategy, writing call options each trading day that expire the same day (0DTE).

How often does TDAQ pay distributions?

TDAQ pays distributions monthly and has paid one every month since October 2025. Dates and amounts are published in the distribution table on this page. A portion of distributions may be classified as return of capital; per-distribution detail is provided in the Fund's 19a-1 notices.

What is TDAQ's distribution yield?

TDAQ's distribution rate changes with each monthly distribution and with the fund's NAV, so any single printed figure goes stale quickly. The current rate, the most recent declared amount and the complete payment history since October 2025 are published live in the distributions section of this page.

How does TDAQ's daily (0DTE) covered call strategy work?

Each trading day, TDAQ writes call options on its Nasdaq-100 exposure that expire that same day. The daily expiration seeks to capture the rapid time decay of 0DTE options while limiting prolonged short-option exposure, and positions reset each trading day.

What does TDAQ hold?

TDAQ holds Nasdaq-100 index exposure, currently through an index ETF, together with short-term cash instruments, and writes same-day call options on that exposure. The complete holdings list on this page is updated daily.

What is TDAQ's expense ratio?

TDAQ's gross expense ratio is 0.83%, made up of a 0.68% management fee plus 0.15% in acquired fund fees and expenses (AFFE) from the fund's QQQM holdings. AFFE is the indirect cost of the underlying ETF the Fund holds. Added together, those two components make up the total expense ratio.

When did TDAQ launch and where does it trade?

TDAQ launched on September 4, 2025 and trades on Cboe under ticker TDAQ (CUSIP 26923N546).

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