DRIP vs. QTAP
DRIP (Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares) and QTAP (Innovator Growth Accelerated Plus ETF - April) are both Leveraged Equities funds. DRIP is passively managed, while QTAP is actively managed. Over the past 5 years, DRIP returned -38.71%/yr vs 12.65%/yr for QTAP. At a correlation of -0.23, they often move in opposite directions. DRIP charges 1.07%/yr vs 0.79%/yr for QTAP.
Performance
DRIP vs. QTAP - Performance Comparison
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Returns By Period
In the year-to-date period, DRIP achieves a -41.20% return, which is significantly lower than QTAP's 12.83% return.
DRIP
- 1D
- -0.94%
- 1M
- 18.92%
- YTD
- -41.20%
- 6M
- -40.68%
- 1Y
- -42.23%
- 3Y*
- -27.26%
- 5Y*
- -38.71%
- 10Y*
- -42.06%
QTAP
- 1D
- -1.14%
- 1M
- -0.91%
- YTD
- 12.83%
- 6M
- 13.01%
- 1Y
- 22.41%
- 3Y*
- 19.78%
- 5Y*
- 12.65%
- 10Y*
- —
DRIP vs. QTAP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | -41.20% | -14.81% | 1.27% | -17.24% | -73.57% | -53.42% |
QTAP Innovator Growth Accelerated Plus ETF - April | 12.83% | 19.36% | 17.34% | 43.32% | -25.87% | 15.95% |
Correlation
The correlation between DRIP and QTAP is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.24 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 2021 | -0.23 |
The correlation between DRIP and QTAP shifts across timeframes, from -0.24 (5 years) to 0.12 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DRIP vs. QTAP — Risk / Return Rank
DRIP
QTAP
DRIP vs. QTAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) 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.
| DRIP | QTAP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.45 | ||
| Sortino ratioReturn per unit of downside risk | -7.03 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.94 | -1.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.68 | 9.04 | -9.72 |
| Martin ratioReturn relative to average drawdown | -1.25 | 52.85 | -54.10 |
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Drawdowns
DRIP vs. QTAP - Drawdown Comparison
The maximum DRIP drawdown since its inception was -99.95%, which is greater than QTAP's maximum drawdown of -29.44%. Use the drawdown chart below to compare losses from any high point for DRIP and QTAP.
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Drawdown Indicators
| DRIP | QTAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.95% | -29.44% | -70.51% |
Max Drawdown (1Y)Largest decline over 1 year | -62.18% | -2.49% | -59.69% |
Max Drawdown (3Y)Largest decline over 3 years | -76.02% | -13.03% | -62.99% |
Max Drawdown (5Y)Largest decline over 5 years | -96.24% | -29.44% | -66.80% |
Max Drawdown (10Y)Largest decline over 10 years | -99.92% | — | — |
Current DrawdownCurrent decline from peak | -99.93% | -1.70% | -98.23% |
Average DrawdownAverage peak-to-trough decline | -90.46% | -4.99% | -85.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.75% | 0.43% | +33.32% |
Volatility
DRIP vs. QTAP - Volatility Comparison
Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares (DRIP) has a higher volatility of 18.04% compared to Innovator Growth Accelerated Plus ETF - April (QTAP) at 3.03%. This indicates that DRIP's price experiences larger fluctuations and is considered to be riskier than QTAP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRIP | QTAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.04% | 3.03% | +15.01% |
Volatility (6M)Calculated over the trailing 6-month period | 43.68% | 4.94% | +38.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.75% | 6.12% | +50.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.37% | 18.92% | +49.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 96.33% | 18.72% | +77.61% |
DRIP vs. QTAP - Expense Ratio Comparison
DRIP has a 1.07% expense ratio, which is higher than QTAP's 0.79% expense ratio.
Dividends
DRIP vs. QTAP - Dividend Comparison
DRIP's dividend yield for the trailing twelve months is around 3.36%, while QTAP has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DRIP Direxion Daily S&P Oil & Gas Exploration & Production Bear 2x Shares | 3.36% | 2.86% | 4.38% | 5.09% | 0.00% | 0.00% | 0.01% | 0.96% | 0.58% |
QTAP Innovator Growth Accelerated Plus ETF - April | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DRIP and QTAP have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DRIP has higher volatility (18.04%) compared to QTAP (3.03%). In terms of maximum drawdown, DRIP dropped -99.95% vs QTAP's -29.44%.
On 5-year performance, QTAP leads with 12.65% vs -38.71% for DRIP. On fees, QTAP is cheaper at 0.79% per year. On volatility, QTAP has been the lower-risk option at 3.03%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, QTAP has performed better with a 12.65% return vs -38.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QTAP is cheaper with a 0.79% expense ratio, compared with 1.07% for DRIP.
DRIP has the higher dividend yield at 3.36%, compared with 0.00% for QTAP.
They also come from different issuers: Direxion and Innovator. Their fees differ too: 1.07% for DRIP and 0.79% for QTAP.
QTAP currently has the higher Sharpe Ratio (3.70 vs -0.75), 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.
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