AAPB vs. XDQQ

Last updated Aug 4, 2026

AAPB (GraniteShares 2x Long AAPL Daily ETF) and XDQQ (Innovator Growth Accelerated ETF - Quarterly) are both Leveraged Equities funds. Both are actively managed. Over the past 3 years, AAPB returned 20.30%/yr vs 15.50%/yr for XDQQ. Their 0.56 correlation means they have sometimes moved together and sometimes differently. AAPB charges 1.15%/yr vs 0.79%/yr for XDQQ.

Performance

AAPB vs. XDQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long AAPL Daily ETF (AAPB) and Innovator Growth Accelerated ETF - Quarterly (XDQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AAPB achieves a 13.81% return, which is significantly higher than XDQQ's -1.59% return.

AAPB

• 1D: -3.56%
• 1M: -5.29%
• 6M: 16.59%
• YTD: 13.81%
• 1Y: 96.58%
• 3Y*: 20.30%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.96%

XDQQ

• 1D: 1.78%
• 1M: -1.63%
• 6M: -3.53%
• YTD: -1.59%
• 1Y: 10.17%
• 3Y*: 15.50%
• 5Y*: 6.22%
• 10Y*: —
• ALL TIME*: 7.95%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AAPB GraniteShares 2x Long AAPL Daily ETF	$4.65M	$3.84M	$2.80M
XDQQ Innovator Growth Accelerated ETF - Quarterly	$488.37K	$671.97K	$332.30K

AAPB vs. XDQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
AAPB GraniteShares 2x Long AAPL Daily ETF	13.81%	-0.93%	47.02%	77.21%	-38.60%
XDQQ Innovator Growth Accelerated ETF - Quarterly	-1.59%	13.75%	31.47%	30.15%	-14.35%

Correlation

The correlation between AAPB and XDQQ is 0.33, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.33
Correlation (3Y) Balances recent behavior with more history.	0.48
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022	0.56

Over the past year, the correlation between AAPB and XDQQ has dropped to 0.33 - well below their long-term average of 0.56, suggesting their price drivers have been diverging.

AAPB vs. XDQQ - Sectors Allocation Comparison

Sectors	AAPB	XDQQ
Technology	66.7%	60.2%
Basic Materials	-	1.0%
Communication Services	-	13.3%
Consumer Cyclical	-	10.9%
Consumer Defensive	-	6.5%
Energy	-	0.5%
Financial Services	-	0.2%
Healthcare	-	3.6%
Industrials	-	2.7%
Real Estate	-	0.1%
Utilities	-	1.2%

Return for Risk

AAPB vs. XDQQ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AAPB

AAPB Risk / Return Rank: 75
AAPB Sharpe Ratio Rank: 78
AAPB Sortino Ratio Rank: 71
AAPB Omega Ratio Rank: 75
AAPB Calmar Ratio Rank: 86
AAPB Martin Ratio Rank: 63

XDQQ

XDQQ Risk / Return Rank: 29
XDQQ Sharpe Ratio Rank: 27
XDQQ Sortino Ratio Rank: 26
XDQQ Omega Ratio Rank: 29
XDQQ Calmar Ratio Rank: 27
XDQQ Martin Ratio Rank: 34

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AAPB vs. XDQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long AAPL Daily ETF (AAPB) and Innovator Growth Accelerated ETF - Quarterly (XDQQ). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AAPB	XDQQ	Difference
Sharpe ratio: Return per unit of total volatility	1.86	0.66	+1.20
Sortino ratio: Return per unit of downside risk	2.36	0.99	+1.37
Omega ratio: Gain probability vs. loss probability	1.32	1.14	+0.19
Calmar ratio: Return relative to maximum drawdown	3.45	0.86	+2.59
Martin ratio: Return relative to average drawdown	7.86	3.44	+4.42

AAPB vs. XDQQ - Sharpe Ratio Comparison

The current AAPB Sharpe Ratio is 1.86, which is higher than the XDQQ Sharpe Ratio of 0.66. The chart below compares the historical Sharpe Ratios of AAPB and XDQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AAPB vs. XDQQ - Drawdown Comparison

The maximum AAPB drawdown since its inception was -58.13%, which is greater than XDQQ's maximum drawdown of -35.63%. Use the drawdown chart below to compare losses from any high point for AAPB and XDQQ.

Drawdown Indicators

	AAPB	XDQQ	Difference
Max Drawdown Largest peak-to-trough decline	-58.13%	-35.63%	-22.50%
Max Drawdown (1Y) Largest decline over 1 year	-28.11%	-11.84%	-16.27%
Max Drawdown (3Y) Largest decline over 3 years	-58.13%	-23.17%	-34.96%
Max Drawdown (5Y) Largest decline over 5 years	—	-35.63%	—
Current Drawdown Current decline from peak	-21.15%	-4.45%	-16.70%
Average Drawdown Average peak-to-trough decline	-18.90%	-10.57%	-8.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.33%	2.96%	+9.37%

Volatility

AAPB vs. XDQQ - Volatility Comparison

GraniteShares 2x Long AAPL Daily ETF (AAPB) has a higher volatility of 22.11% compared to Innovator Growth Accelerated ETF - Quarterly (XDQQ) at 7.30%. This indicates that AAPB's price experiences larger fluctuations and is considered to be riskier than XDQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AAPB	XDQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.11%	7.30%	+14.81%
Volatility (6M) Calculated over the trailing 6-month period	42.82%	12.00%	+30.82%
Volatility (1Y) Calculated over the trailing 1-year period	52.44%	15.51%	+36.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.52%	20.04%	+32.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	52.52%	19.62%	+32.90%

AAPB vs. XDQQ - Expense Ratio Comparison

AAPB has a 1.15% expense ratio, which is higher than XDQQ's 0.79% expense ratio.

Dividends

AAPB vs. XDQQ - Dividend Comparison

AAPB's dividend yield for the trailing twelve months is around 3.86%, while XDQQ has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
AAPB GraniteShares 2x Long AAPL Daily ETF	3.86%	4.39%	0.00%	18.75%
XDQQ Innovator Growth Accelerated ETF - Quarterly	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AAPB and XDQQ in my portfolio?

AAPB and XDQQ have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AAPB or XDQQ?

AAPB has higher volatility (22.11%) compared to XDQQ (7.30%). In terms of maximum drawdown, AAPB dropped -58.13% vs XDQQ's -35.63%.

Which ETF is better, AAPB or XDQQ?

On 3-year performance, AAPB leads with 20.30% vs 15.50% for XDQQ. On fees, XDQQ is cheaper at 0.79% per year. On volatility, XDQQ has been the lower-risk option at 7.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AAPB or XDQQ?

Over the 3-year period, AAPB has performed better with a 20.30% return vs 15.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AAPB or XDQQ?

XDQQ is cheaper with a 0.79% expense ratio, compared with 1.15% for AAPB.

Which ETF pays a higher dividend yield, AAPB or XDQQ?

AAPB has the higher dividend yield at 3.86%, compared with 0.00% for XDQQ.

What is the main difference between AAPB and XDQQ?

They also come from different issuers: GraniteShares and Innovator. Their fees differ too: 1.15% for AAPB and 0.79% for XDQQ.

Which has better risk-adjusted returns?

AAPB currently has the higher Sharpe Ratio (1.86 vs 0.66), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.