MSOX vs. XTAP

Last updated Jun 4, 2026

MSOX (Advisorshares Msos 2x Daily ETF) and XTAP (Innovator U.S. Equity Accelerated Plus ETF) are both Leveraged Equities funds. Both are actively managed. Over the past 3 years, MSOX returned -63.28%/yr vs 17.90%/yr for XTAP. At a 0.23 correlation, their price movements are largely independent. MSOX charges 0.95%/yr vs 0.79%/yr for XTAP.

Performance

MSOX vs. XTAP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Advisorshares Msos 2x Daily ETF (MSOX) and Innovator U.S. Equity Accelerated Plus ETF (XTAP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSOX achieves a -31.70% return, which is significantly lower than XTAP's 10.96% return.

MSOX

• 1D: -11.82%
• 1M: -8.66%
• YTD: -31.70%
• 6M: -19.05%
• 1Y: 6.99%
• 3Y*: -63.28%
• 5Y*: —
• 10Y*: —

XTAP

• 1D: -0.21%
• 1M: 2.32%
• YTD: 10.96%
• 6M: 12.10%
• 1Y: 21.00%
• 3Y*: 17.90%
• 5Y*: 10.99%
• 10Y*: —

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

MSOX vs. XTAP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MSOX Advisorshares Msos 2x Daily ETF	-31.70%	-51.20%	-87.32%	-39.26%	-79.25%
XTAP Innovator U.S. Equity Accelerated Plus ETF	10.96%	17.58%	14.26%	23.46%	-9.23%

Correlation

The correlation between MSOX and XTAP is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (All Time) Calculated using the full available price history since Aug 25, 2022	0.23

MSOX vs. XTAP - Sectors Allocation Comparison

Sectors	MSOX	XTAP
Financial Services	179.4%	12.2%
Basic Materials	-	1.9%
Communication Services	-	10.5%
Consumer Cyclical	-	10.0%
Consumer Defensive	-	5.3%
Energy	-	4.0%
Healthcare	-	9.5%
Industrials	-	8.5%
Real Estate	-	2.0%
Technology	-	33.6%
Utilities	-	2.6%

Return for Risk

MSOX vs. XTAP — Risk / Return Rank

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

MSOX

MSOX Risk / Return Rank: 19
MSOX Sharpe Ratio Rank: 9
MSOX Sortino Ratio Rank: 34
MSOX Omega Ratio Rank: 32
MSOX Calmar Ratio Rank: 10
MSOX Martin Ratio Rank: 9

XTAP

XTAP Risk / Return Rank: 98
XTAP Sharpe Ratio Rank: 97
XTAP Sortino Ratio Rank: 98
XTAP Omega Ratio Rank: 98
XTAP Calmar Ratio Rank: 98
XTAP Martin Ratio Rank: 98

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.

MSOX vs. XTAP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Advisorshares Msos 2x Daily ETF (MSOX) 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.

	MSOX	XTAP	Difference
Sharpe ratio: Return per unit of total volatility	0.03	4.50	-4.47
Sortino ratio: Return per unit of downside risk	1.83	7.78	-5.94
Omega ratio: Gain probability vs. loss probability	1.21	2.22	-1.00
Calmar ratio: Return relative to maximum drawdown	0.08	14.82	-14.74
Martin ratio: Return relative to average drawdown	0.13	78.70	-78.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MSOX vs. XTAP - Sharpe Ratio Comparison

The current MSOX Sharpe Ratio is 0.03, which is lower than the XTAP Sharpe Ratio of 4.50. The chart below compares the historical Sharpe Ratios of MSOX and XTAP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MSOX	XTAP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.03	4.50	-4.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.76	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.45	0.80	-1.25

Drawdowns

MSOX vs. XTAP - Drawdown Comparison

The maximum MSOX drawdown since its inception was -99.75%, which is greater than XTAP's maximum drawdown of -22.13%. Use the drawdown chart below to compare losses from any high point for MSOX and XTAP.

Drawdown Indicators

	MSOX	XTAP	Difference
Max Drawdown Largest peak-to-trough decline	-99.75%	-22.13%	-77.62%
Max Drawdown (1Y) Largest decline over 1 year	-84.89%	-1.42%	-83.47%
Max Drawdown (3Y) Largest decline over 3 years	-98.83%	-11.83%	-87.00%
Max Drawdown (5Y) Largest decline over 5 years	—	-22.13%	—
Current Drawdown Current decline from peak	-99.55%	-0.21%	-99.34%
Average Drawdown Average peak-to-trough decline	-88.85%	-3.45%	-85.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	55.03%	0.27%	+54.76%

Volatility

MSOX vs. XTAP - Volatility Comparison

Advisorshares Msos 2x Daily ETF (MSOX) has a higher volatility of 41.61% compared to Innovator U.S. Equity Accelerated Plus ETF (XTAP) at 1.10%. This indicates that MSOX'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.

Volatility by Period

	MSOX	XTAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	41.61%	1.10%	+40.51%
Volatility (6M) Calculated over the trailing 6-month period	155.35%	3.16%	+152.19%
Volatility (1Y) Calculated over the trailing 1-year period	219.03%	4.70%	+214.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	168.34%	14.54%	+153.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	168.34%	14.41%	+153.93%

MSOX vs. XTAP - Expense Ratio Comparison

MSOX has a 0.95% expense ratio, which is higher than XTAP's 0.79% expense ratio.

Dividends

MSOX vs. XTAP - Dividend Comparison

Neither MSOX nor XTAP has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both MSOX and XTAP in my portfolio?

MSOX and XTAP have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSOX or XTAP?

MSOX has higher volatility (41.61%) compared to XTAP (1.10%). In terms of maximum drawdown, MSOX dropped -99.75% vs XTAP's -22.13%.

Which ETF is better, MSOX or XTAP?

On 3-year performance, XTAP leads with 17.90% vs -63.28% for MSOX. On fees, XTAP is cheaper at 0.79% per year. On volatility, XTAP has been the lower-risk option at 1.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSOX or XTAP?

Over the 3-year period, XTAP has performed better with a 17.90% return vs -63.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSOX or XTAP?

XTAP is cheaper with a 0.79% expense ratio, compared with 0.95% for MSOX.

Which ETF pays a higher dividend yield, MSOX or XTAP?

MSOX and XTAP have nearly identical dividend yields, around 0.00%.

What is the main difference between MSOX and XTAP?

They also come from different issuers: AdvisorShares and Innovator. Their fees differ too: 0.95% for MSOX and 0.79% for XTAP.

Which has better risk-adjusted returns?

XTAP currently has the higher Sharpe Ratio (4.50 vs 0.03), 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.