NIOG vs. QTAP
NIOG (Leverage Shares 2X Long NIO Daily ETF) and QTAP (Innovator Growth Accelerated Plus ETF - April) are both Leveraged Equities funds. NIOG is passively managed, while QTAP is actively managed. At a 0.07 correlation, their price movements are largely independent. NIOG charges 0.75%/yr vs 0.79%/yr for QTAP.
Performance
NIOG vs. QTAP - Performance Comparison
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Returns By Period
In the year-to-date period, NIOG achieves a 5.09% return, which is significantly lower than QTAP's 14.67% return.
NIOG
- 1D
- -8.37%
- 1M
- -14.00%
- YTD
- 5.09%
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QTAP
- 1D
- -0.10%
- 1M
- 2.89%
- YTD
- 14.67%
- 6M
- 15.56%
- 1Y
- 25.59%
- 3Y*
- 21.18%
- 5Y*
- 13.78%
- 10Y*
- —
NIOG vs. QTAP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NIOG Leverage Shares 2X Long NIO Daily ETF | 5.09% | 5.33% |
QTAP Innovator Growth Accelerated Plus ETF - April | 14.67% | 0.56% |
Correlation
The correlation between NIOG and QTAP is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 19, 2025 | 0.07 |
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Return for Risk
NIOG vs. QTAP — Risk / Return Rank
NIOG
QTAP
NIOG vs. QTAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long NIO Daily ETF (NIOG) 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
| NIOG | QTAP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 4.62 | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.73 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 0.75 | -0.54 |
Drawdowns
NIOG vs. QTAP - Drawdown Comparison
The maximum NIOG drawdown since its inception was -45.19%, which is greater than QTAP's maximum drawdown of -29.44%. Use the drawdown chart below to compare losses from any high point for NIOG and QTAP.
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Drawdown Indicators
| NIOG | QTAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.19% | -29.44% | -15.75% |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.69% | — |
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 | -34.15% | -0.10% | -34.05% |
Average DrawdownAverage peak-to-trough decline | -19.65% | -5.04% | -14.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.32% | — |
Volatility
NIOG vs. QTAP - Volatility Comparison
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Volatility by Period
| NIOG | QTAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.33% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 3.97% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 120.05% | 5.56% | +114.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 120.05% | 18.89% | +101.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 120.05% | 18.77% | +101.28% |
NIOG vs. QTAP - Expense Ratio Comparison
NIOG has a 0.75% expense ratio, which is lower than QTAP's 0.79% expense ratio.
Dividends
NIOG vs. QTAP - Dividend Comparison
Neither NIOG nor QTAP has paid dividends to shareholders.
Frequently Asked Questions
NIOG and QTAP have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, NIOG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NIOG is cheaper with a 0.75% expense ratio, compared with 0.79% for QTAP.
NIOG and QTAP have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Leverage Shares and Innovator. Their fees differ too: 0.75% for NIOG and 0.79% for QTAP.
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