AAOX vs. QTAP

Last updated Jun 4, 2026

AAOX (Tradr 2X Long AAOI Daily ETF) and QTAP (Innovator Growth Accelerated Plus ETF - April) are both Leveraged Equities funds. AAOX is passively managed, while QTAP is actively managed. At a 0.20 correlation, their price movements are largely independent. AAOX charges 1.49%/yr vs 0.79%/yr for QTAP.

Performance

AAOX vs. QTAP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Long AAOI Daily ETF (AAOX) and Innovator Growth Accelerated Plus ETF - April (QTAP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

AAOX

• 1D: -18.15%
• 1M: -7.11%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QTAP

• 1D: -0.10%
• 1M: 2.89%
• YTD: 14.67%
• 6M: 15.56%
• 1Y: 25.59%
• 3Y*: 21.18%
• 5Y*: 13.78%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AAOX vs. QTAP - Yearly Performance Comparison

	2026 (YTD)
AAOX Tradr 2X Long AAOI Daily ETF	68.69%
QTAP Innovator Growth Accelerated Plus ETF - April	12.90%

Correlation

The correlation between AAOX and QTAP is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 25, 2026	0.20

Return for Risk

AAOX vs. QTAP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QTAP

QTAP Risk / Return Rank: 98
QTAP Sharpe Ratio Rank: 97
QTAP Sortino Ratio Rank: 98
QTAP Omega Ratio Rank: 98
QTAP Calmar Ratio Rank: 98
QTAP Martin Ratio Rank: 98

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AAOX vs. QTAP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long AAOI Daily ETF (AAOX) and Innovator Growth Accelerated Plus ETF - April (QTAP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	AAOX	QTAP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	4.62	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.73	—
Sharpe Ratio (All Time) Calculated using the full available price history	4.72	0.75	+3.97

Drawdowns

AAOX vs. QTAP - Drawdown Comparison

The maximum AAOX drawdown since its inception was -52.25%, which is greater than QTAP's maximum drawdown of -29.44%. Use the drawdown chart below to compare losses from any high point for AAOX and QTAP.

Drawdown Indicators

	AAOX	QTAP	Difference
Max Drawdown Largest peak-to-trough decline	-52.25%	-29.44%	-22.81%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.69%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-13.03%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-29.44%	—
Current Drawdown Current decline from peak	-38.59%	-0.10%	-38.49%
Average Drawdown Average peak-to-trough decline	-21.29%	-5.04%	-16.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.32%	—

Volatility

Volatility by Period

	AAOX	QTAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.33%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.97%	—
Volatility (1Y) Calculated over the trailing 1-year period	293.60%	5.56%	+288.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	293.60%	18.89%	+274.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	293.60%	18.77%	+274.83%

AAOX vs. QTAP - Expense Ratio Comparison

AAOX has a 1.49% expense ratio, which is higher than QTAP's 0.79% expense ratio.

Dividends

AAOX vs. QTAP - Dividend Comparison

Neither AAOX nor QTAP has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both AAOX and QTAP in my portfolio?

AAOX and QTAP have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AAOX or QTAP?

On fees, QTAP is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AAOX or QTAP?

QTAP is cheaper with a 0.79% expense ratio, compared with 1.49% for AAOX.

Which ETF pays a higher dividend yield, AAOX or QTAP?

AAOX and QTAP have nearly identical dividend yields, around 0.00%.

What is the main difference between AAOX and QTAP?

They also come from different issuers: Tradr and Innovator. Their fees differ too: 1.49% for AAOX and 0.79% for QTAP.