ONDL vs. QTAP
ONDL (Defiance Daily Target 2X Long ONDS ETF) and QTAP (Innovator Growth Accelerated Plus ETF - April) are both Leveraged Equities funds. ONDL is passively managed, while QTAP is actively managed. At a 0.17 correlation, their price movements are largely independent. ONDL charges 1.31%/yr vs 0.79%/yr for QTAP.
Performance
ONDL vs. QTAP - Performance Comparison
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Returns By Period
In the year-to-date period, ONDL achieves a -27.60% return, which is significantly lower than QTAP's 14.67% return.
ONDL
- 1D
- -29.16%
- 1M
- 17.93%
- YTD
- -27.60%
- 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*
- —
ONDL vs. QTAP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ONDL Defiance Daily Target 2X Long ONDS ETF | -27.60% | 17.43% |
QTAP Innovator Growth Accelerated Plus ETF - April | 14.67% | -0.21% |
Correlation
The correlation between ONDL and QTAP is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 31, 2025 | 0.17 |
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Return for Risk
ONDL vs. QTAP — Risk / Return Rank
ONDL
QTAP
ONDL vs. QTAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long ONDS ETF (ONDL) 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
| ONDL | 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 | -0.15 | 0.75 | -0.90 |
Drawdowns
ONDL vs. QTAP - Drawdown Comparison
The maximum ONDL drawdown since its inception was -75.71%, which is greater than QTAP's maximum drawdown of -29.44%. Use the drawdown chart below to compare losses from any high point for ONDL and QTAP.
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Drawdown Indicators
| ONDL | QTAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.71% | -29.44% | -46.27% |
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 | -62.62% | -0.10% | -62.52% |
Average DrawdownAverage peak-to-trough decline | -53.08% | -5.04% | -48.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.32% | — |
Volatility
ONDL vs. QTAP - Volatility Comparison
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Volatility by Period
| ONDL | 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 | 219.48% | 5.56% | +213.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 219.48% | 18.89% | +200.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 219.48% | 18.77% | +200.71% |
ONDL vs. QTAP - Expense Ratio Comparison
ONDL has a 1.31% expense ratio, which is higher than QTAP's 0.79% expense ratio.
Dividends
ONDL vs. QTAP - Dividend Comparison
Neither ONDL nor QTAP has paid dividends to shareholders.
Frequently Asked Questions
ONDL and QTAP have a correlation of 0.17, 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 ONDL.
ONDL 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 ONDL and 0.79% for QTAP.
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