MPL vs. QTAP
MPL (Defiance Daily Target 2X Long MP ETF) and QTAP (Innovator Growth Accelerated Plus ETF - April) are both Leveraged Equities funds. Both are actively managed. A 0.60 correlation means they provide meaningful diversification when combined. MPL charges 1.31%/yr vs 0.79%/yr for QTAP.
Performance
MPL vs. QTAP - Performance Comparison
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Returns By Period
MPL
- 1D
- -19.06%
- 1M
- —
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QTAP
- 1D
- -1.54%
- 1M
- 0.16%
- YTD
- 12.81%
- 6M
- 13.51%
- 1Y
- 23.16%
- 3Y*
- 20.37%
- 5Y*
- 13.41%
- 10Y*
- —
MPL vs. QTAP - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
MPL Defiance Daily Target 2X Long MP ETF | -24.56% |
QTAP Innovator Growth Accelerated Plus ETF - April | -1.43% |
Correlation
The correlation between MPL and QTAP is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since May 27, 2026 | 0.60 |
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Return for Risk
MPL vs. QTAP — Risk / Return Rank
MPL
QTAP
MPL vs. QTAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long MP ETF (MPL) 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| MPL | QTAP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 4.15 | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.71 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.59 | 0.73 | -1.32 |
Drawdowns
MPL vs. QTAP - Drawdown Comparison
The maximum MPL drawdown since its inception was -34.06%, which is greater than QTAP's maximum drawdown of -29.44%. Use the drawdown chart below to compare losses from any high point for MPL and QTAP.
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Drawdown Indicators
| MPL | QTAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.06% | -29.44% | -4.62% |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.72% | — |
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 | -34.06% | -1.72% | -32.34% |
Average DrawdownAverage peak-to-trough decline | -9.74% | -5.03% | -4.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.34% | — |
Volatility
MPL vs. QTAP - Volatility Comparison
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Volatility by Period
| MPL | QTAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 2.03% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 4.31% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 182.07% | 5.80% | +176.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 182.07% | 18.89% | +163.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 182.07% | 18.77% | +163.30% |
MPL vs. QTAP - Expense Ratio Comparison
MPL has a 1.31% expense ratio, which is higher than QTAP's 0.79% expense ratio.
Dividends
MPL vs. QTAP - Dividend Comparison
Neither MPL nor QTAP has paid dividends to shareholders.
Frequently Asked Questions
MPL and QTAP have a correlation of 0.60, 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 MPL.
MPL 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 MPL and 0.79% for QTAP.
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