LOUP vs. MOON

Last updated Jun 21, 2026

LOUP (Innovator Deepwater Frontier Tech ETF) and MOON (Direxion Moonshot Innovators ETF) are both Technology Equities funds - LOUP tracks the Deepwater Frontier Tech Index while MOON tracks the S&P Kensho Moonshots Index. Both are passively managed. At a 0.46 correlation, their price movements are largely independent. LOUP charges 0.70%/yr vs 0.65%/yr for MOON.

Performance

LOUP vs. MOON - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Deepwater Frontier Tech ETF (LOUP) and Direxion Moonshot Innovators ETF (MOON). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

LOUP

• 1D: 2.66%
• 1M: 9.68%
• YTD: 24.97%
• 6M: 24.22%
• 1Y: 66.02%
• 3Y*: 33.87%
• 5Y*: 12.53%
• 10Y*: —

MOON

• 1D: -5.49%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LOUP vs. MOON - Yearly Performance Comparison

	2026 (YTD)
LOUP Innovator Deepwater Frontier Tech ETF	3.11%
MOON Direxion Moonshot Innovators ETF	-15.19%

Correlation

The correlation between LOUP and MOON is 0.46, 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 Jun 8, 2026	0.46

LOUP vs. MOON - Sectors Allocation Comparison

Sectors	LOUP	MOON
Technology	45.6%	42.4%
Industrials	17.6%	7.5%
Communication Services	17.0%	9.3%
Consumer Cyclical	8.9%	11.9%
Utilities	3.0%	-
Energy	2.7%	-
Financial Services	2.6%	4.2%
Healthcare	2.6%	23.5%
Basic Materials	-	1.2%
Consumer Defensive	-	-
Real Estate	-	-

Return for Risk

LOUP vs. MOON — Risk / Return Rank

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

LOUP

LOUP Risk / Return Rank: 63
LOUP Sharpe Ratio Rank: 71
LOUP Sortino Ratio Rank: 60
LOUP Omega Ratio Rank: 58
LOUP Calmar Ratio Rank: 64
LOUP Martin Ratio Rank: 59

MOON

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

LOUP vs. MOON - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Deepwater Frontier Tech ETF (LOUP) and Direxion Moonshot Innovators ETF (MOON). 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.

	LOUP	MOON	Difference
Sharpe ratio: Return per unit of total volatility	2.17	—	—
Sortino ratio: Return per unit of downside risk	2.70	—	—
Omega ratio: Gain probability vs. loss probability	1.34	—	—
Calmar ratio: Return relative to maximum drawdown	3.07	—	—
Martin ratio: Return relative to average drawdown	10.14	—	—

Drawdowns

LOUP vs. MOON - Drawdown Comparison

The maximum LOUP drawdown since its inception was -58.68%, which is greater than MOON's maximum drawdown of -15.19%. Use the drawdown chart below to compare losses from any high point for LOUP and MOON.

Drawdown Indicators

	LOUP	MOON	Difference
Max Drawdown Largest peak-to-trough decline	-58.68%	-15.19%	-43.49%
Max Drawdown (1Y) Largest decline over 1 year	-21.00%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-35.23%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-55.63%	—	—
Current Drawdown Current decline from peak	-4.35%	-15.19%	+10.84%
Average Drawdown Average peak-to-trough decline	-19.96%	-10.52%	-9.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.34%	—	—

Volatility

Volatility by Period

	LOUP	MOON	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.38%	—	—
Volatility (6M) Calculated over the trailing 6-month period	23.39%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	29.71%	13.68%	+16.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.61%	13.68%	+18.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.04%	13.68%	+18.36%

LOUP vs. MOON - Expense Ratio Comparison

LOUP has a 0.70% expense ratio, which is higher than MOON's 0.65% expense ratio.

Dividends

LOUP vs. MOON - Dividend Comparison

Neither LOUP nor MOON has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both LOUP and MOON in my portfolio?

LOUP and MOON have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LOUP or MOON?

On fees, MOON is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LOUP or MOON?

MOON is cheaper with a 0.65% expense ratio, compared with 0.70% for LOUP.

Which ETF pays a higher dividend yield, LOUP or MOON?

LOUP and MOON have nearly identical dividend yields, around 0.00%.

What is the main difference between LOUP and MOON?

LOUP tracks Deepwater Frontier Tech Index, while MOON tracks S&P Kensho Moonshots Index. They also come from different issuers: Innovator and Direxion. Their fees differ too: 0.70% for LOUP and 0.65% for MOON.