MVV vs. XTAP
Compare and contrast key facts about ProShares Ultra Midcap 400 (MVV) and Innovator U.S. Equity Accelerated Plus ETF (XTAP).
MVV and XTAP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MVV is a passively managed fund by ProShares that tracks the performance of the S&P MidCap 400 Index (200%). It was launched on Jun 21, 2006. XTAP is an actively managed fund by Innovator. It was launched on Apr 1, 2021.
Performance
MVV vs. XTAP - Performance Comparison
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MVV vs. XTAP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MVV ProShares Ultra Midcap 400 | 2.97% | 3.48% | 17.75% | 22.51% | -31.96% | 13.88% |
XTAP Innovator U.S. Equity Accelerated Plus ETF | 1.66% | 17.58% | 14.26% | 23.46% | -14.68% | 11.87% |
Returns By Period
In the year-to-date period, MVV achieves a 2.97% return, which is significantly higher than XTAP's 1.66% return.
MVV
- 1D
- 5.86%
- 1M
- -11.15%
- YTD
- 2.97%
- 6M
- 4.17%
- 1Y
- 23.77%
- 3Y*
- 13.53%
- 5Y*
- 3.56%
- 10Y*
- 12.11%
XTAP
- 1D
- 0.08%
- 1M
- 0.65%
- YTD
- 1.66%
- 6M
- 4.34%
- 1Y
- 16.29%
- 3Y*
- 16.22%
- 5Y*
- —
- 10Y*
- —
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MVV vs. XTAP - Expense Ratio Comparison
MVV has a 0.95% expense ratio, which is higher than XTAP's 0.79% expense ratio.
Return for Risk
MVV vs. XTAP — Risk / Return Rank
MVV
XTAP
MVV vs. XTAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Midcap 400 (MVV) 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.
| MVV | XTAP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.55 | 1.14 | -0.59 |
Sortino ratioReturn per unit of downside risk | 1.07 | 1.76 | -0.69 |
Omega ratioGain probability vs. loss probability | 1.15 | 1.44 | -0.30 |
Calmar ratioReturn relative to maximum drawdown | 0.90 | 1.43 | -0.53 |
Martin ratioReturn relative to average drawdown | 3.50 | 9.78 | -6.28 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MVV | XTAP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.55 | 1.14 | -0.59 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.09 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.29 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.69 | -0.45 |
Correlation
The correlation between MVV and XTAP is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
MVV vs. XTAP - Dividend Comparison
MVV's dividend yield for the trailing twelve months is around 0.83%, while XTAP has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MVV ProShares Ultra Midcap 400 | 0.83% | 0.77% | 0.39% | 0.77% | 0.93% | 0.16% | 0.29% | 0.62% | 0.62% | 0.21% | 0.43% | 0.17% |
XTAP Innovator U.S. Equity Accelerated Plus ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
MVV vs. XTAP - Drawdown Comparison
The maximum MVV drawdown since its inception was -85.54%, which is greater than XTAP's maximum drawdown of -22.13%. Use the drawdown chart below to compare losses from any high point for MVV and XTAP.
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Drawdown Indicators
| MVV | XTAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.54% | -22.13% | -63.41% |
Max Drawdown (1Y)Largest decline over 1 year | -26.85% | -11.83% | -15.02% |
Max Drawdown (5Y)Largest decline over 5 years | -45.53% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -69.19% | — | — |
Current DrawdownCurrent decline from peak | -12.85% | 0.00% | -12.85% |
Average DrawdownAverage peak-to-trough decline | -20.70% | -3.57% | -17.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.93% | 1.73% | +5.20% |
Volatility
MVV vs. XTAP - Volatility Comparison
ProShares Ultra Midcap 400 (MVV) has a higher volatility of 13.17% compared to Innovator U.S. Equity Accelerated Plus ETF (XTAP) at 0.77%. This indicates that MVV'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.
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Volatility by Period
| MVV | XTAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.17% | 0.77% | +12.40% |
Volatility (6M)Calculated over the trailing 6-month period | 23.96% | 2.52% | +21.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.27% | 14.33% | +28.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.67% | 14.60% | +25.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.33% | 14.60% | +27.73% |