MSTP vs. QTJL

Last updated Jul 15, 2026

MSTP (GraniteShares 2x Long MSTR Daily ETF) and QTJL (Innovator Growth Accelerated Plus ETF - July) are both Leveraged Equities funds. Both are actively managed. Over the past year, MSTP returned -97.82% vs 15.54% for QTJL. At a 0.45 correlation, their price movements are largely independent. MSTP charges 1.50%/yr vs 0.79%/yr for QTJL.

Performance

MSTP vs. QTJL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares 2x Long MSTR Daily ETF (MSTP) and Innovator Growth Accelerated Plus ETF - July (QTJL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSTP achieves a -74.79% return, which is significantly lower than QTJL's 5.97% return.

MSTP

• 1D: 11.40%
• 1M: -43.12%
• 6M: -80.15%
• YTD: -74.79%
• 1Y: -97.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QTJL

• 1D: 0.96%
• 1M: -1.05%
• 6M: 5.03%
• YTD: 5.97%
• 1Y: 15.54%
• 3Y*: 17.56%
• 5Y*: 10.02%
• 10Y*: —

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

MSTP vs. QTJL - Yearly Performance Comparison

	2026 (YTD)	2025
MSTP GraniteShares 2x Long MSTR Daily ETF	-74.79%	-89.07%
QTJL Innovator Growth Accelerated Plus ETF - July	5.97%	11.59%

Correlation

The correlation between MSTP and QTJL is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (All Time) Calculated using the full available price history since Jun 10, 2025	0.45

Return for Risk

MSTP vs. QTJL — Risk / Return Rank

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

MSTP

MSTP Risk / Return Rank: 2
MSTP Sharpe Ratio Rank: 4
MSTP Sortino Ratio Rank: 0
MSTP Omega Ratio Rank: 0
MSTP Calmar Ratio Rank: 0
MSTP Martin Ratio Rank: 3

QTJL

QTJL Risk / Return Rank: 61
QTJL Sharpe Ratio Rank: 54
QTJL Sortino Ratio Rank: 54
QTJL Omega Ratio Rank: 62
QTJL Calmar Ratio Rank: 58
QTJL Martin Ratio Rank: 79

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.

MSTP vs. QTJL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long MSTR Daily ETF (MSTP) and Innovator Growth Accelerated Plus ETF - July (QTJL). 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.

	MSTP	QTJL	Difference
Sharpe ratio: Return per unit of total volatility	-0.66	1.49	-2.14
Sortino ratio: Return per unit of downside risk	-2.52	2.12	-4.64
Omega ratio: Gain probability vs. loss probability	0.74	1.30	-0.56
Calmar ratio: Return relative to maximum drawdown	-0.99	2.34	-3.33
Martin ratio: Return relative to average drawdown	-1.21	11.78	-12.99

MSTP vs. QTJL - Sharpe Ratio Comparison

The current MSTP Sharpe Ratio is -0.66, which is lower than the QTJL Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of MSTP and QTJL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MSTP vs. QTJL - Drawdown Comparison

The maximum MSTP drawdown since its inception was -98.40%, which is greater than QTJL's maximum drawdown of -33.40%. Use the drawdown chart below to compare losses from any high point for MSTP and QTJL.

Drawdown Indicators

	MSTP	QTJL	Difference
Max Drawdown Largest peak-to-trough decline	-98.40%	-33.40%	-65.00%
Max Drawdown (1Y) Largest decline over 1 year	-98.40%	-6.68%	-91.72%
Max Drawdown (3Y) Largest decline over 3 years	—	-22.43%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-33.40%	—
Current Drawdown Current decline from peak	-97.85%	-1.45%	-96.40%
Average Drawdown Average peak-to-trough decline	-71.17%	-7.78%	-63.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	80.80%	1.32%	+79.48%

Volatility

MSTP vs. QTJL - Volatility Comparison

GraniteShares 2x Long MSTR Daily ETF (MSTP) has a higher volatility of 53.99% compared to Innovator Growth Accelerated Plus ETF - July (QTJL) at 3.94%. This indicates that MSTP's price experiences larger fluctuations and is considered to be riskier than QTJL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSTP	QTJL	Difference
Volatility (1M) Calculated over the trailing 1-month period	53.99%	3.94%	+50.05%
Volatility (6M) Calculated over the trailing 6-month period	122.47%	8.27%	+114.20%
Volatility (1Y) Calculated over the trailing 1-year period	148.74%	10.51%	+138.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	145.44%	20.34%	+125.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	145.44%	20.27%	+125.17%

MSTP vs. QTJL - Expense Ratio Comparison

MSTP has a 1.50% expense ratio, which is higher than QTJL's 0.79% expense ratio.

Dividends

MSTP vs. QTJL - Dividend Comparison

Neither MSTP nor QTJL has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both MSTP and QTJL in my portfolio?

MSTP and QTJL have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSTP or QTJL?

MSTP has higher volatility (53.99%) compared to QTJL (3.94%). In terms of maximum drawdown, MSTP dropped -98.40% vs QTJL's -33.40%.

Which ETF is better, MSTP or QTJL?

On 1-year performance, QTJL leads with 15.54% vs -97.82% for MSTP. On fees, QTJL is cheaper at 0.79% per year. On volatility, QTJL has been the lower-risk option at 3.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSTP or QTJL?

Over the 1-year period, QTJL has performed better with a 15.54% return vs -97.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSTP or QTJL?

QTJL is cheaper with a 0.79% expense ratio, compared with 1.50% for MSTP.

Which ETF pays a higher dividend yield, MSTP or QTJL?

MSTP and QTJL have nearly identical dividend yields, around 0.00%.

What is the main difference between MSTP and QTJL?

They also come from different issuers: GraniteShares and Innovator. Their fees differ too: 1.50% for MSTP and 0.79% for QTJL.

Which has better risk-adjusted returns?

QTJL currently has the higher Sharpe Ratio (1.49 vs -0.66), 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.