CARU vs. QTJL

Last updated Jul 18, 2026

CARU (Max Auto Industry 3X Leveraged ETN) and QTJL (Innovator Growth Accelerated Plus ETF - July) are both Leveraged Equities funds. CARU is passively managed, while QTJL is actively managed. Over the past 3 years, CARU returned -12.67%/yr vs 16.01%/yr for QTJL. A 0.57 correlation means they provide meaningful diversification when combined. CARU charges 0.95%/yr vs 0.79%/yr for QTJL.

Performance

CARU vs. QTJL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Max Auto Industry 3X Leveraged ETN (CARU) and Innovator Growth Accelerated Plus ETF - July (QTJL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CARU achieves a -22.79% return, which is significantly lower than QTJL's 3.14% return.

CARU

• 1D: -2.38%
• 1M: 11.87%
• 6M: -26.51%
• YTD: -22.79%
• 1Y: -18.35%
• 3Y*: -12.67%
• 5Y*: —
• 10Y*: —

QTJL

• 1D: -0.95%
• 1M: -3.77%
• 6M: 2.43%
• YTD: 3.14%
• 1Y: 11.81%
• 3Y*: 16.01%
• 5Y*: 9.52%
• 10Y*: —

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

CARU vs. QTJL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CARU Max Auto Industry 3X Leveraged ETN	-22.79%	7.29%	23.44%	-9.74%
QTJL Innovator Growth Accelerated Plus ETF - July	3.14%	21.07%	16.50%	11.15%

Correlation

The correlation between CARU and QTJL is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (All Time) Calculated using the full available price history since Jun 28, 2023	0.57

The correlation between CARU and QTJL has been stable across timeframes, ranging from 0.55 to 0.58 - a consistent structural relationship.

Return for Risk

CARU vs. QTJL — Risk / Return Rank

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

CARU

CARU Risk / Return Rank: 8
CARU Sharpe Ratio Rank: 7
CARU Sortino Ratio Rank: 9
CARU Omega Ratio Rank: 9
CARU Calmar Ratio Rank: 6
CARU Martin Ratio Rank: 7

QTJL

QTJL Risk / Return Rank: 45
QTJL Sharpe Ratio Rank: 39
QTJL Sortino Ratio Rank: 37
QTJL Omega Ratio Rank: 43
QTJL Calmar Ratio Rank: 44
QTJL Martin Ratio Rank: 64

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.

CARU vs. QTJL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Max Auto Industry 3X Leveraged ETN (CARU) and Innovator Growth Accelerated Plus ETF - July (QTJL). 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.

	CARU	QTJL	Difference
Sharpe ratio: Return per unit of total volatility	-0.26	1.11	-1.37
Sortino ratio: Return per unit of downside risk	0.09	1.60	-1.51
Omega ratio: Gain probability vs. loss probability	1.01	1.22	-0.21
Calmar ratio: Return relative to maximum drawdown	-0.36	1.77	-2.14
Martin ratio: Return relative to average drawdown	-0.67	8.67	-9.34

CARU vs. QTJL - Sharpe Ratio Comparison

The current CARU Sharpe Ratio is -0.26, which is lower than the QTJL Sharpe Ratio of 1.11. The chart below compares the historical Sharpe Ratios of CARU and QTJL, 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

CARU vs. QTJL - Drawdown Comparison

The maximum CARU drawdown since its inception was -66.44%, which is greater than QTJL's maximum drawdown of -33.40%. Use the drawdown chart below to compare losses from any high point for CARU and QTJL.

Drawdown Indicators

	CARU	QTJL	Difference
Max Drawdown Largest peak-to-trough decline	-66.44%	-33.40%	-33.04%
Max Drawdown (1Y) Largest decline over 1 year	-50.87%	-6.68%	-44.19%
Max Drawdown (3Y) Largest decline over 3 years	-66.44%	-22.43%	-44.01%
Max Drawdown (5Y) Largest decline over 5 years	—	-33.40%	—
Current Drawdown Current decline from peak	-39.03%	-4.09%	-34.94%
Average Drawdown Average peak-to-trough decline	-36.07%	-7.77%	-28.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.31%	1.37%	+25.94%

Volatility

CARU vs. QTJL - Volatility Comparison

Max Auto Industry 3X Leveraged ETN (CARU) has a higher volatility of 21.36% compared to Innovator Growth Accelerated Plus ETF - July (QTJL) at 4.26%. This indicates that CARU's price experiences larger fluctuations and is considered to be riskier than QTJL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CARU	QTJL	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.36%	4.26%	+17.10%
Volatility (6M) Calculated over the trailing 6-month period	53.60%	8.46%	+45.14%
Volatility (1Y) Calculated over the trailing 1-year period	70.47%	10.68%	+59.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	79.99%	20.34%	+59.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	79.99%	20.26%	+59.73%

CARU vs. QTJL - Expense Ratio Comparison

CARU has a 0.95% expense ratio, which is higher than QTJL's 0.79% expense ratio.

Dividends

CARU vs. QTJL - Dividend Comparison

Neither CARU nor QTJL has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both CARU and QTJL in my portfolio?

CARU and QTJL have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CARU or QTJL?

CARU has higher volatility (21.36%) compared to QTJL (4.26%). In terms of maximum drawdown, CARU dropped -66.44% vs QTJL's -33.40%.

Which ETF is better, CARU or QTJL?

On 3-year performance, QTJL leads with 16.01% vs -12.67% for CARU. On fees, QTJL is cheaper at 0.79% per year. On volatility, QTJL has been the lower-risk option at 4.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CARU or QTJL?

Over the 3-year period, QTJL has performed better with a 16.01% return vs -12.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CARU or QTJL?

QTJL is cheaper with a 0.79% expense ratio, compared with 0.95% for CARU.

Which ETF pays a higher dividend yield, CARU or QTJL?

CARU and QTJL have nearly identical dividend yields, around 0.00%.

What is the main difference between CARU and QTJL?

They also come from different issuers: Max and Innovator. Their fees differ too: 0.95% for CARU and 0.79% for QTJL.

Which has better risk-adjusted returns?

QTJL currently has the higher Sharpe Ratio (1.11 vs -0.26), 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.