Membership

SnowX Approved Funds

Hundreds of income ETFs promise a big monthly check. Very few pay it without eating your principal. This is the short list that passed every test.

7tests every fund must pass

Monthlyreview and written update

Unlock the full list See a free example

How a fund earns its place

Seven tests stand between a fund and the list.

Every fund starts in the pool. Each test removes the ones that don't hold up. What's left is the list.

01
A time-tested index underneath
The fund is built on a broad, established index or asset (for example the Nasdaq-100, the S&P 500 or the Russell 2000), not a narrow bet on a handful of names.
02
Total return that holds up
Distributions are judged next to total return. A high payout that comes from a steadily falling share price does not qualify.
03
Monthly income
Distributions are paid monthly (or more often), so income arrives on the schedule bills do.
04
Tax character
The history of how distributions were classified (ordinary income, qualified dividends, return of capital, or Section 1256 treatment) is reviewed, because it changes what an investor keeps.
05
Size, liquidity and cost
Enough assets and trading volume for tight bid-ask spreads, and an expense ratio that is reasonable for the strategy.
06
The manager
The issuer's track record, how clearly it explains the strategy, and whether the option overlay leaves room for upside.
07
A different stream
Each fund has to add something the others do not, so the list covers 10 to 15 sources that do not all move together.

Free lookNasdaq-100 daily covered calls

TDAQ TappAlpha Innovation 100 Growth & Daily Income ETF

Holds the Nasdaq-100 and sells call options that expire the same day, every trading day. The daily reset aims to collect option income while leaving room for the index to keep growing. In its first year the share price rose while it paid monthly, which is exactly the pattern the list looks for.

Trailing 12-month yield16.42%

1-year total return25.54%

Pays: Monthly
Expense ratio: 0.83%
Assets: $375M
Launched: Sep 4, 2025

As of Sep 26, 2026. Source: stockanalysis.com; fund issuer. Fund page

Scorecard: 7 of 7

A time-tested index underneath
Nasdaq-100 underneath, through QQQM.
Total return that holds up
Total return ahead of the payout: NAV grew from $24.83 to $27.00 in year one.
Monthly income
Pays monthly.
Tax character
Distribution character tracked monthly from the issuer's notices.
Size, liquidity and cost
About $375M in assets after one year, 0.83% total expense ratio.
The manager
Clear daily strategy, explained plainly by the issuer.
A different stream
Growth-tilted option income, different from S&P 500, real estate or energy streams.

The rest of the list

One stream down. The rest are waiting.

TDAQ covers one income stream. Members see every approved fund across every stream, with the same numbers and scorecard.

SnowX Approved Funds by income stream. One fund shown; the rest are for members.
Income stream	Fund	Distribution rate	Total return, 1 yr	Score
Nasdaq-100 daily covered calls	TDAQ	16.42%	25.54%	7/7
Nasdaq-100 covered calls	Members only
S&P 500 covered calls	Members only
S&P 500 covered calls	Members only
Mega-cap growth	Members only
Small caps (Russell 2000)	Members only
Real estate (REITs)	Members only
Energy infrastructure (MLPs)	Members only
Bitcoin income	Members only
Precious metals income	Members only

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Cut from the list

A fund that stops passing gets removed. Members hear why.

Example of the removal note format.

Payout outran the fund
Share price fell for four straight quarters while the distribution held. Income was coming out of principal.
Distribution cut
Monthly payout dropped sharply with no change in strategy explained by the issuer.
Overlap
Moved almost in lockstep with a fund already on the list, so it no longer added a separate stream.

Monthly update, excerpt

Sample update: TDAQ turns one

TDAQ finished its first year with its share price higher than where it started, while paying a distribution every month. That is the pattern we want from a covered call fund: income on top of growth, not income instead of it. Assets passed $330 million in twelve months.

Read the full note as a member

Pricing

Unlock SnowX Approved Funds.

The full list, a scorecard for every fund, and a written update every month. $9 a month, no contracts.

$9/month

No contracts. Cancel anytime.

Every approved fund, grouped by income stream
Distribution rate and total return side by side
7-test scorecard for each fund
Monthly update notes, including every cut

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Payments are processed by Gumroad, which also handles sales tax. SnowX Approved Funds is a general publication. It is not personalized investment advice and is the same for every subscriber. Inclusion on the list, including TDAQ shown above, is not a recommendation to buy any security for your situation. Fund figures come from third-party sources as of the date shown and may have changed. Distributions are not guaranteed, can change or stop, and may include return of capital. Past performance does not guarantee future results.

Questions

Is this personalized advice?

No. Every member receives the same list and the same notes, published on a regular schedule. We do not answer questions about your own portfolio or tell you what to buy.

How often is it updated?

The list is reviewed monthly, with a written update note each month. Changes between reviews are published to all members at once.

What data do you show?

Each fund shows its distribution rate and total return side by side, with the date and source of the data, plus how it scored on all seven tests.

Can I cancel?

Yes, anytime, from your Gumroad library. No contracts and no cancellation fees.

Where do I read it?

Members get each update by email and in their Gumroad library.