EFU vs. QTAP
EFU (ProShares UltraShort MSCI EAFE) and QTAP (Innovator Growth Accelerated Plus ETF - April) are both Leveraged Equities funds. EFU is passively managed, while QTAP is actively managed. Over the past 5 years, EFU returned -16.16%/yr vs 12.44%/yr for QTAP. Their -0.64 correlation means they have often moved in opposite directions in the past. EFU charges 0.95%/yr vs 0.79%/yr for QTAP.
Performance
EFU vs. QTAP - Performance Comparison
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Returns By Period
In the year-to-date period, EFU achieves a -21.36% return, which is significantly lower than QTAP's 14.58% return.
EFU
- 1D
- -0.66%
- 1M
- -3.30%
- 6M
- -12.53%
- YTD
- -21.36%
- 1Y
- -35.56%
- 3Y*
- -25.18%
- 5Y*
- -16.16%
- 10Y*
- -19.65%
- ALL TIME*
- -19.09%
QTAP
- 1D
- 0.89%
- 1M
- 1.04%
- 6M
- 13.63%
- YTD
- 14.58%
- 1Y
- 21.37%
- 3Y*
- 19.73%
- 5Y*
- 12.44%
- 10Y*
- —
- ALL TIME*
- 13.62%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $26.57K | $37.75K | $56.26K | |
| $233.87K | $224.64K | $223.31K |
EFU vs. QTAP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EFU ProShares UltraShort MSCI EAFE | -21.36% | -41.07% | -1.04% | -25.36% | 24.26% | -17.19% |
QTAP Innovator Growth Accelerated Plus ETF - April | 14.58% | 19.36% | 17.34% | 43.32% | -25.87% | 15.95% |
Correlation
The correlation between EFU and QTAP is -0.62, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.62 |
Correlation (3Y) Balances recent behavior with more history. | -0.58 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.64 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 2021 | -0.64 |
The correlation between EFU and QTAP has been stable across timeframes, ranging from -0.64 to -0.58 - a consistent structural relationship.
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Return for Risk
EFU vs. QTAP — Risk / Return Rank
EFU
QTAP
EFU vs. QTAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort MSCI EAFE (EFU) 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.
| EFU | QTAP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.35 | ||
| Sortino ratioReturn per unit of downside risk | -6.87 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.77 | -0.95 |
| Calmar ratioReturn relative to maximum drawdown | -1.04 | 7.63 | -8.68 |
| Martin ratioReturn relative to average drawdown | -1.67 | 36.59 | -38.26 |
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Drawdowns
EFU vs. QTAP - Drawdown Comparison
The maximum EFU drawdown since its inception was -99.39%, which is greater than QTAP's maximum drawdown of -29.44%. Use the drawdown chart below to compare losses from any high point for EFU and QTAP.
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Drawdown Indicators
| EFU | QTAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.39% | -29.44% | -69.95% |
Max Drawdown (1Y)Largest decline over 1 year | -34.17% | -2.81% | -31.36% |
Max Drawdown (3Y)Largest decline over 3 years | -65.69% | -13.03% | -52.66% |
Max Drawdown (5Y)Largest decline over 5 years | -76.39% | -29.44% | -46.95% |
Max Drawdown (10Y)Largest decline over 10 years | -89.39% | — | — |
Current DrawdownCurrent decline from peak | -99.39% | -0.17% | -99.22% |
Average DrawdownAverage peak-to-trough decline | -87.22% | -4.91% | -82.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.06% | 0.59% | +22.47% |
Volatility
EFU vs. QTAP - Volatility Comparison
ProShares UltraShort MSCI EAFE (EFU) has a higher volatility of 9.16% compared to Innovator Growth Accelerated Plus ETF - April (QTAP) at 2.84%. This indicates that EFU'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
| EFU | QTAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.16% | 2.84% | +6.32% |
Volatility (6M)Calculated over the trailing 6-month period | 28.75% | 5.74% | +23.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.55% | 6.61% | +25.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.67% | 18.93% | +14.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.62% | 18.57% | +15.05% |
EFU vs. QTAP - Expense Ratio Comparison
EFU has a 0.95% expense ratio, which is higher than QTAP's 0.79% expense ratio.
Dividends
EFU vs. QTAP - Dividend Comparison
EFU's dividend yield for the trailing twelve months is around 5.21%, while QTAP has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EFU ProShares UltraShort MSCI EAFE | 5.21% | 5.57% | 3.87% | 6.41% | 1.47% | 0.00% | 0.06% | 0.95% | 0.17% |
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
EFU and QTAP have a correlation of -0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EFU has higher volatility (9.16%) compared to QTAP (2.84%). In terms of maximum drawdown, EFU dropped -99.39% vs QTAP's -29.44%.
On 5-year performance, QTAP leads with 12.44% vs -16.16% for EFU. On fees, QTAP is cheaper at 0.79% per year. On volatility, QTAP has been the lower-risk option at 2.84%. 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 12.44% return vs -16.16%. 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 0.95% for EFU.
EFU has the higher dividend yield at 5.21%, compared with 0.00% for QTAP.
They also come from different issuers: ProShares and Innovator. Their fees differ too: 0.95% for EFU and 0.79% for QTAP.
QTAP currently has the higher Sharpe Ratio (3.25 vs -1.10), 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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