DKNX vs. XTAP
DKNX (Defiance Daily Target 2X Long DKNG ETF) and XTAP (Innovator U.S. Equity Accelerated Plus ETF) are both Leveraged Equities funds. Both are actively managed. At a 0.20 correlation, their price movements are largely independent. DKNX charges 1.29%/yr vs 0.79%/yr for XTAP.
Performance
DKNX vs. XTAP - Performance Comparison
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Returns By Period
In the year-to-date period, DKNX achieves a -57.81% return, which is significantly lower than XTAP's 10.01% return.
DKNX
- 1D
- -3.93%
- 1M
- 4.37%
- YTD
- -57.81%
- 6M
- -57.32%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XTAP
- 1D
- -1.00%
- 1M
- 0.39%
- YTD
- 10.01%
- 6M
- 10.95%
- 1Y
- 20.23%
- 3Y*
- 17.49%
- 5Y*
- 10.80%
- 10Y*
- —
DKNX vs. XTAP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DKNX Defiance Daily Target 2X Long DKNG ETF | -57.81% | -50.48% |
XTAP Innovator U.S. Equity Accelerated Plus ETF | 10.01% | 5.18% |
Correlation
The correlation between DKNX and XTAP 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 Aug 1, 2025 | 0.20 |
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Return for Risk
DKNX vs. XTAP — Risk / Return Rank
DKNX
XTAP
DKNX vs. XTAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long DKNG ETF (DKNX) and Innovator U.S. Equity Accelerated Plus ETF (XTAP). 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.
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Sharpe Ratios by Period
| DKNX | XTAP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 4.23 | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.75 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.88 | 0.79 | -1.67 |
Drawdowns
DKNX vs. XTAP - Drawdown Comparison
The maximum DKNX drawdown since its inception was -86.10%, which is greater than XTAP's maximum drawdown of -22.13%. Use the drawdown chart below to compare losses from any high point for DKNX and XTAP.
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Drawdown Indicators
| DKNX | XTAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.10% | -22.13% | -63.97% |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.42% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -11.83% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -22.13% | — |
Current DrawdownCurrent decline from peak | -81.39% | -1.06% | -80.33% |
Average DrawdownAverage peak-to-trough decline | -58.12% | -3.45% | -54.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.28% | — |
Volatility
DKNX vs. XTAP - Volatility Comparison
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Volatility by Period
| DKNX | XTAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.40% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 3.35% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 96.13% | 4.81% | +91.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 96.13% | 14.54% | +81.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 96.13% | 14.40% | +81.73% |
DKNX vs. XTAP - Expense Ratio Comparison
DKNX has a 1.29% expense ratio, which is higher than XTAP's 0.79% expense ratio.
Dividends
DKNX vs. XTAP - Dividend Comparison
Neither DKNX nor XTAP has paid dividends to shareholders.
Frequently Asked Questions
DKNX and XTAP 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.
On fees, XTAP is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XTAP is cheaper with a 0.79% expense ratio, compared with 1.29% for DKNX.
DKNX and XTAP have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Defiance and Innovator. Their fees differ too: 1.29% for DKNX and 0.79% for XTAP.
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