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Beacon

TDAQTappAlpha Innovation 100 Growth & Daily Income ETF

Get incomeNewRanked #952 of 1,650 in this goal

Seeks current income while maintaining prospects for capital appreciation.

By TappAlpha · Launched 2025

Annual Cost

0.83%

#4,411 of 5,861 · expensive

Fund Size

$248M

#2,186 of 5,861 · mid-size

Dividend YieldGoal

—

Track Record

11 months

#4,605 of 5,861 · young

Performance

Total-return NAV · USD
Growth of $10,000
$12,079+20.8%

Total-return NAV, USD. Net of fund fees, before tax.

What's inside

How Beacon categorizes this fund

Asset class

Alternative

Region

North america

Strategy

Option income

Index tracked

Nasdaq-100 Index

What it actually holds

By weight

Concentration

Top 2 holdings = 99.4% of fundconcentrated

Invesco QQQ Trust Series 1
99.2%
First American Government Obli
0.2%

Asset allocation

Stocks
99.4%
Other
0.9%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
N/A
Max drawdown
-11.7%Mild

Worst peak-to-trough loss

Sharpe (3Y)
Unavailable

Needs 3+ years of history

Sortino (3Y)
Not yet

Needs 3+ years of history

Listing

Exchange
Cboe BZX

Full fund details

Objective
Seeks current income while maintaining prospects for capital appreciation.
Strategy
Actively managed ETF that employs a call option strategy to generate income while providing exposure to the NASDAQ-100 Index. Invests primarily in daily covered call options on ETFs like QQQ and QQQM, aiming for capital appreciation and current income through option premiums.
Inception date
September 3, 2025
Fund family
TappAlpha

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Covered call
Warning

The big yield isn't extra money

The headline distribution comes from selling call options, which caps the fund's upside. Across a full market cycle that trade costs more than it brings in — often 1 to 3 percentage points a year against just holding the index. Monthly payouts make the gap easy to miss on a return summary.

Sources: Israelov & Ndong, 'A Devil's Bargain: When Generating Income Undermines Investment Returns' (NDVR, 2023)

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-08-04