TDAQ NAV Erosion
Mild erosionTappAlpha Innovation 100 Growth & Daily Income ETF: share price against distributions paid since Sep 2025. Data as of Nov 6, 2026.
TDAQ closed at $23.89 on Nov 6, 2026, down 4.4% from $24.99 in Sep 2025. That works out to -3.8% a year. Over the same stretch the fund paid $4.89 per share in 13 distributions, so a holder since Sep 2025 is ahead by $3.79 per share before tax, counting price and payouts together with nothing reinvested.
A price decline of 3.8% a year against a 18.9% trailing distribution yield is mild NAV erosion. Most of each payout has been income, with a slice of it the fund's own asset base. The distributions have more than covered the price decline so far.
Key numbers
Price since Sep 2025
-4.4%
$24.99 to $23.89
Price change per year
-3.8%
1.2 years of history
Distributions paid
$4.89
13 payouts per share
Net per share
$3.79
+15.2% of the starting price, before tax
Trailing yield
18.9%
$4.51 a share over 12 months, monthly
- TDAQ share price
- Share price + distributions paid
Month-end closing prices from 2025-09-04 to 2026-11-06, split-adjusted but not dividend-adjusted. The dashed line is the starting price. The upper line adds every distribution paid per share, with nothing reinvested and before tax.
Fitted to the trailing 12mo window the calculator uses, the price is rising at 5.3% a year. The fit explains -18% of the moves, which makes this mostly noise, not a trend.
Over the past twelve months alone the price is down 9.3% while the fund paid $4.51 per share on a monthly schedule, which is 18.9% of today's price.
| Year | Start | End | Price change | Distributions | Distribution % | Net |
|---|---|---|---|---|---|---|
| 2026* | $26.07 | $23.89 | -8.4% | $3.76 | 14.4% | +6.1% |
| 2025* | $24.99 | $26.07 | +4.3% | $1.13 | 4.5% | +8.8% |
* Partial year: the fund's first year on file or the current year to date.
- Prices are closing prices adjusted for share splits, not for dividends. Dividend-adjusted series net the distributions out of the price and make erosion disappear; this page keeps the two apart on purpose.
- After a reverse split, earlier prices and payouts are restated in today's share units, so a fund that launched at $20 and later did a 1-for-5 reverse split shows a $100 starting price and five times its original payouts. Price and distributions stay in the same units, so the net figure is unaffected.
- Distributions are counted as cash received per share, never reinvested, and before tax. Net per share is simply the price change plus that cash.
- Part of an option-income fund's payout can be return of capital, which lowers your cost basis instead of being taxed as income in the year paid. The fund's 19a notices say how much.
- A falling price shrinks every future payout, because each distribution is set as a percentage of the current price. That is why the trend matters more than the quoted yield.
Does TDAQ have NAV erosion?
Yes. TDAQ's share price is down 4.4% since Sep 2025, about -3.8% a year, while it paid $4.89 per share in distributions. That is mild erosion: part of each payout has been the fund's own asset base.
How much has TDAQ's share price changed since Sep 2025?
From $24.99 on Sep 4, 2025 to $23.89 on Nov 6, 2026, a change of -4.4% (-3.8% a year). These are closing prices adjusted for share splits but not for dividends, so the decline from distributions stays visible instead of being netted out. For a fund that has done a reverse split, early prices and payouts are stated in today's share units.
Has TDAQ paid out more than it lost in price?
Yes. Distributions of $4.89 per share outweigh the $1.10 price decline, leaving a holder since Sep 2025 ahead by $3.79 per share before tax (+15.2% of the starting price), with nothing reinvested.
What is TDAQ's distribution yield?
$4.51 per share over the trailing twelve months, paid monthly, which is 18.9% of the $23.89 share price. A high yield on a falling price is the signature of NAV erosion, so read the yield together with the price change above.
Is TDAQ's share price falling right now?
Over the past twelve months TDAQ is down 9.3% while paying $4.51 per share.
Model TDAQ at your tax rate
The calculator loads TDAQ's live price and yield, fits the decay, and shows the year your after-tax income stops covering the price loss.
More on TDAQ
Educational, not investment advice. Prices and distributions come from Dividend Wealth's market data and can lag the fund's own figures by a day. Past price behaviour does not predict future distributions.