AMA vs. QTAP
AMA (Defiance Daily Target 2X Long AMAT ETF) and QTAP (Innovator Growth Accelerated Plus ETF - April) are both Leveraged Equities funds. Both are actively managed. A 0.69 correlation means they provide meaningful diversification when combined. AMA charges 1.29%/yr vs 0.79%/yr for QTAP.
Performance
AMA vs. QTAP - Performance Comparison
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Returns By Period
AMA
- 1D
- -1.48%
- 1M
- -33.68%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
QTAP
- 1D
- 0.10%
- 1M
- -0.84%
- 6M
- 12.76%
- YTD
- 13.28%
- 1Y
- 19.67%
- 3Y*
- 18.97%
- 5Y*
- 12.34%
- 10Y*
- —
- ALL TIME*
- 13.48%
AMA vs. QTAP - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
AMA Defiance Daily Target 2X Long AMAT ETF | 21.09% |
QTAP Innovator Growth Accelerated Plus ETF - April | -0.51% |
Correlation
The correlation between AMA and QTAP is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since May 26, 2026 | 0.69 |
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Return for Risk
AMA vs. QTAP — Risk / Return Rank
AMA
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
QTAP
AMA vs. QTAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long AMAT ETF (AMA) 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.
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.
| AMA | QTAP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.75 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 7.93 | — |
| Martin ratioReturn relative to average drawdown | — | 39.35 | — |
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Drawdowns
AMA vs. QTAP - Drawdown Comparison
The maximum AMA drawdown since its inception was -49.64%, which is greater than QTAP's maximum drawdown of -29.44%. Use the drawdown chart below to compare losses from any high point for AMA and QTAP.
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Drawdown Indicators
| AMA | QTAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.64% | -29.44% | -20.20% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.49% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -13.03% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -29.44% | — |
Current DrawdownCurrent decline from peak | -49.64% | -1.30% | -48.34% |
Average DrawdownAverage peak-to-trough decline | -15.38% | -4.94% | -10.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.50% | — |
Volatility
AMA vs. QTAP - Volatility Comparison
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Volatility by Period
| AMA | QTAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 2.42% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 5.29% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 180.21% | 6.28% | +173.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 180.21% | 18.91% | +161.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 180.21% | 18.61% | +161.60% |
AMA vs. QTAP - Expense Ratio Comparison
AMA has a 1.29% expense ratio, which is higher than QTAP's 0.79% expense ratio.
Dividends
AMA vs. QTAP - Dividend Comparison
Neither AMA nor QTAP has paid dividends to shareholders.
Frequently Asked Questions
AMA and QTAP have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
QTAP is cheaper with a 0.79% expense ratio, compared with 1.29% for AMA.
AMA and QTAP have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Defiance and Innovator. Their fees differ too: 1.29% for AMA and 0.79% for QTAP.
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