LUNL vs. QTAP
LUNL (Defiance Daily Target 2X Long LUNR ETF) and QTAP (Innovator Growth Accelerated Plus ETF - April) are both Leveraged Equities funds. LUNL is passively managed, while QTAP is actively managed. At a 0.26 correlation, their price movements are largely independent. LUNL charges 1.31%/yr vs 0.79%/yr for QTAP.
Performance
LUNL vs. QTAP - Performance Comparison
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Returns By Period
LUNL
- 1D
- -8.77%
- 1M
- -75.76%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QTAP
- 1D
- -1.14%
- 1M
- -0.91%
- YTD
- 12.83%
- 6M
- 13.01%
- 1Y
- 22.41%
- 3Y*
- 19.78%
- 5Y*
- 12.65%
- 10Y*
- —
LUNL vs. QTAP - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
LUNL Defiance Daily Target 2X Long LUNR ETF | -52.41% |
QTAP Innovator Growth Accelerated Plus ETF - April | 12.20% |
Correlation
The correlation between LUNL and QTAP is 0.26, 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 Jan 13, 2026 | 0.26 |
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Return for Risk
LUNL vs. QTAP — Risk / Return Rank
LUNL
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
QTAP
LUNL vs. QTAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long LUNR ETF (LUNL) 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.
| LUNL | QTAP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.94 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 9.04 | — |
| Martin ratioReturn relative to average drawdown | — | 52.85 | — |
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Drawdowns
LUNL vs. QTAP - Drawdown Comparison
The maximum LUNL drawdown since its inception was -82.16%, which is greater than QTAP's maximum drawdown of -29.44%. Use the drawdown chart below to compare losses from any high point for LUNL and QTAP.
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Drawdown Indicators
| LUNL | QTAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.16% | -29.44% | -52.72% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.49% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -13.03% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -29.44% | — |
Current DrawdownCurrent decline from peak | -82.16% | -1.70% | -80.46% |
Average DrawdownAverage peak-to-trough decline | -36.44% | -4.99% | -31.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.43% | — |
Volatility
LUNL vs. QTAP - Volatility Comparison
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Volatility by Period
| LUNL | QTAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 3.03% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 4.94% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 258.93% | 6.12% | +252.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 258.93% | 18.92% | +240.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 258.93% | 18.72% | +240.21% |
LUNL vs. QTAP - Expense Ratio Comparison
LUNL has a 1.31% expense ratio, which is higher than QTAP's 0.79% expense ratio.
Dividends
LUNL vs. QTAP - Dividend Comparison
Neither LUNL nor QTAP has paid dividends to shareholders.
Frequently Asked Questions
LUNL and QTAP have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, QTAP is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.
QTAP is cheaper with a 0.79% expense ratio, compared with 1.31% for LUNL.
LUNL and QTAP have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Defiance and Innovator. Their fees differ too: 1.31% for LUNL and 0.79% for QTAP.
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