OPEX vs. XTAP
OPEX (Tradr 2X Long OPEN Daily ETF) and XTAP (Innovator U.S. Equity Accelerated Plus ETF) are both Leveraged Equities funds. Both are actively managed. At a 0.42 correlation, their price movements are largely independent. OPEX charges 1.30%/yr vs 0.79%/yr for XTAP.
Performance
OPEX vs. XTAP - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, OPEX achieves a -50.33% return, which is significantly lower than XTAP's 11.13% return.
OPEX
- 1D
- 4.27%
- 1M
- -15.96%
- YTD
- -50.33%
- 6M
- -71.75%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XTAP
- 1D
- 0.15%
- 1M
- 2.02%
- YTD
- 11.13%
- 6M
- 12.15%
- 1Y
- 21.20%
- 3Y*
- 18.01%
- 5Y*
- 11.02%
- 10Y*
- —
OPEX vs. XTAP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
OPEX Tradr 2X Long OPEN Daily ETF | -50.33% | -46.89% |
XTAP Innovator U.S. Equity Accelerated Plus ETF | 11.13% | 2.18% |
Correlation
The correlation between OPEX and XTAP is 0.42, 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 Oct 24, 2025 | 0.42 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
OPEX vs. XTAP — Risk / Return Rank
OPEX
XTAP
OPEX vs. XTAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long OPEN Daily ETF (OPEX) 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
Loading charts...
Sharpe Ratios by Period
| OPEX | XTAP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 4.55 | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.76 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.52 | 0.80 | -1.32 |
Drawdowns
OPEX vs. XTAP - Drawdown Comparison
The maximum OPEX drawdown since its inception was -86.97%, which is greater than XTAP's maximum drawdown of -22.13%. Use the drawdown chart below to compare losses from any high point for OPEX and XTAP.
Loading charts...
Drawdown Indicators
| OPEX | XTAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.97% | -22.13% | -64.84% |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.42% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -11.83% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -22.13% | — |
Current DrawdownCurrent decline from peak | -83.24% | -0.06% | -83.18% |
Average DrawdownAverage peak-to-trough decline | -65.65% | -3.45% | -62.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.27% | — |
Volatility
OPEX vs. XTAP - Volatility Comparison
Loading charts...
Volatility by Period
| OPEX | XTAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.04% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 3.16% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 172.71% | 4.68% | +168.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 172.71% | 14.54% | +158.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 172.71% | 14.40% | +158.31% |
OPEX vs. XTAP - Expense Ratio Comparison
OPEX has a 1.30% expense ratio, which is higher than XTAP's 0.79% expense ratio.
Dividends
OPEX vs. XTAP - Dividend Comparison
Neither OPEX nor XTAP has paid dividends to shareholders.
Frequently Asked Questions
OPEX and XTAP have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XTAP is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XTAP is cheaper with a 0.79% expense ratio, compared with 1.30% for OPEX.
OPEX and XTAP have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Tradr ETFs and Innovator. Their fees differ too: 1.30% for OPEX and 0.79% for XTAP.
Find the right allocation for OPEX and XTAP
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer