ETF Evaluator:
TDAQ Lift ETF (TDAX)
Follow This ETF
(as of Sep 01)
Best Performing in Trading--Leveraged Equity Over the Last Year
| 2567.1% | Direxion Daily MU Bull 2X Shares (MUU) |
| 2419.7% | GraniteShares 2x Long MU Daily ETF (MULL) |
| 933.4% | GraniteShares 2x Long INTC Daily ETF (INTW) |
| 476.7% | GraniteShares 2x Long DELL Daily ETF (DLLL) |
| 358.1% | Direxion Daily Semicondct Bull 3X ETF (SOXL) |
Risk
Index
Risk
Index
ETF Details
TDAQ Lift ETF Overview
TDAQ Lift ETF (TDAX) is an actively managed Miscellaneous Trading--Leveraged Equity exchange-traded fund (ETF). TappAlpha launched the ETF in 2026.
The investment seeks to magnify (130%) the daily performance of the ETF shares of the TappAlpha Innovation 100 Growth & Daily Income ETF.
The fund, under normal circumstances, invests at least 80% of its net assets (plus any borrowings for investment purposes) in financial instruments that are designed to provide, in the aggregate, 120% - 140% exposure to the price performance of TDAQ on a daily basis. The fund is non-diversified.
About TDAQ Lift ETF (TDAX)
There are 2 members of the management team with an average tenure of 0.56 years: Matthew Tuttle (2026) and Si Katara (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
TDAQ Lift ETF has 5 securities in its portfolio. The top 10 holdings constitute 196.7% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
TDAQ Lift ETF is part of the Other global asset class and is within the Miscellaneous ETF group. TDAQ Lift ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 129.8% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). TDAQ Lift ETF has -34.5% of the portfolio in cash.
Assets Under Management
The fund has $49 million in total assets, which is below the $251 million average for the Trading--Leveraged Equity category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
TDAX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The TDAQ Lift ETF expense ratio is high compared to funds in the Trading--Leveraged Equity category. TDAQ Lift ETF has an expense ratio of 0.98%, which is 3% higher than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. TDAQ Lift ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 396% for the Trading--Leveraged Equity category.
Recently, in the month of July 2026, TDAQ Lift ETF returned -8.7%, which earned it a grade of C, as the Trading--Leveraged Equity category had an average return of -18.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
TDAQ Lift ETF has a trailing yield of 0.00%, which is below the 5.84% category average.
The fund normally distributes its income weekly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
For more ETF grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about TDAQ Lift ETF, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
TDAX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| TDAX Return (NAV) | -8.7% | 2.6% | na | na | na | na |
| TDAX Return (Price) | -8.2% | 2.7% | na | na | na | na |
| NAV +/- Price Return | -0.486% | -0.130% | na | na | na | na |
| Trading--Leveraged Equity Avg | -18.2% | -10.8% | 47.2% | 18.3% | 6.2% | 9.2% |
| TDAX Grade (NAV) | C | B | na | na | na | na |
| +/- Category (NAV) | 9.5% | 13.4% | na | na | na | na |
| TDAX Tax-Cost Ratio | na | na | na | na | na | na |
TDAX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| TDAX Return (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| TDAX Return (Price) | na | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | na | na | na | na | na | na | na | na | na | na | na |
| Trading--Leveraged Equity Avg | 3.8% | 41.3% | 29.5% | 62.2% | -36.7% | 45.0% | 6.2% | 64.1% | -31.9% | 61.0% | 29.3% |
| TDAX Grade (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| +/- Category | na | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | -- |
| Total Assets: | $ 49 Mil |
| Share Class Assets: | $ 49 Mil |
| Turnover: | na |
| Expense Ratio: | 0.98% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 130% |
| Leveraged: | Yes |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Weekly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 0.6 years | |||
| Average Tenure: 0.6 years | |||
| Managers (Year): Tuttle Matthew (2026), Katara Si (2026) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 5 |
| % in Top 10 Holdings: | 196.7% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 129.8% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 4.8% |
| Cash: | -34.5% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | TappAlpha |
| Phone Number: | 844-403-2888 |
| Website: | |
| Inception Date: | January 6, 2026 |
Expenses and Fees
| Expense Ratio (%): | 0.98% (Rating: High) |
| Category Average Expense Ratio (%): | 0.95% |
