EFO vs. XTAP
Compare and contrast key facts about ProShares Ultra MSCI EAFE (EFO) and Innovator U.S. Equity Accelerated Plus ETF (XTAP).
EFO and XTAP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EFO is a passively managed fund by ProShares that tracks the performance of the MSCI EAFE Index (200%). It was launched on Jun 2, 2009. XTAP is an actively managed fund by Innovator. It was launched on Apr 1, 2021.
Performance
EFO vs. XTAP - Performance Comparison
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EFO vs. XTAP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EFO ProShares Ultra MSCI EAFE | -0.08% | 58.51% | -2.15% | 25.77% | -33.62% | 8.71% |
XTAP Innovator U.S. Equity Accelerated Plus ETF | 1.66% | 17.58% | 14.26% | 23.46% | -14.68% | 11.87% |
Returns By Period
In the year-to-date period, EFO achieves a -0.08% return, which is significantly lower than XTAP's 1.66% return.
EFO
- 1D
- 6.60%
- 1M
- -16.14%
- YTD
- -0.08%
- 6M
- 7.57%
- 1Y
- 37.55%
- 3Y*
- 19.30%
- 5Y*
- 7.06%
- 10Y*
- 9.59%
XTAP
- 1D
- 0.08%
- 1M
- 0.65%
- YTD
- 1.66%
- 6M
- 4.34%
- 1Y
- 16.29%
- 3Y*
- 16.22%
- 5Y*
- —
- 10Y*
- —
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EFO vs. XTAP - Expense Ratio Comparison
EFO has a 0.95% expense ratio, which is higher than XTAP's 0.79% expense ratio.
Return for Risk
EFO vs. XTAP — Risk / Return Rank
EFO
XTAP
EFO vs. XTAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra MSCI EAFE (EFO) 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.
| EFO | XTAP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.08 | 1.14 | -0.07 |
Sortino ratioReturn per unit of downside risk | 1.60 | 1.76 | -0.17 |
Omega ratioGain probability vs. loss probability | 1.22 | 1.44 | -0.22 |
Calmar ratioReturn relative to maximum drawdown | 1.59 | 1.43 | +0.17 |
Martin ratioReturn relative to average drawdown | 5.90 | 9.78 | -3.88 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EFO | XTAP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.08 | 1.14 | -0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.22 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 0.69 | -0.47 |
Correlation
The correlation between EFO and XTAP is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
EFO vs. XTAP - Dividend Comparison
EFO's dividend yield for the trailing twelve months is around 1.73%, while XTAP has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
EFO ProShares Ultra MSCI EAFE | 1.73% | 1.65% | 2.24% | 1.93% | 0.00% | 0.00% | 0.00% | 0.37% | 0.11% |
XTAP Innovator U.S. Equity Accelerated Plus ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
EFO vs. XTAP - Drawdown Comparison
The maximum EFO drawdown since its inception was -63.52%, which is greater than XTAP's maximum drawdown of -22.13%. Use the drawdown chart below to compare losses from any high point for EFO and XTAP.
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Drawdown Indicators
| EFO | XTAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.52% | -22.13% | -41.39% |
Max Drawdown (1Y)Largest decline over 1 year | -22.18% | -11.83% | -10.35% |
Max Drawdown (5Y)Largest decline over 5 years | -53.95% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -63.52% | — | — |
Current DrawdownCurrent decline from peak | -16.38% | 0.00% | -16.38% |
Average DrawdownAverage peak-to-trough decline | -18.78% | -3.57% | -15.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.00% | 1.73% | +4.27% |
Volatility
EFO vs. XTAP - Volatility Comparison
ProShares Ultra MSCI EAFE (EFO) has a higher volatility of 15.10% compared to Innovator U.S. Equity Accelerated Plus ETF (XTAP) at 0.77%. This indicates that EFO's price experiences larger fluctuations and is considered to be riskier than XTAP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EFO | XTAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.10% | 0.77% | +14.33% |
Volatility (6M)Calculated over the trailing 6-month period | 21.89% | 2.52% | +19.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.11% | 14.33% | +20.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.58% | 14.60% | +17.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.87% | 14.60% | +19.27% |