QID vs. QTAP
QID (ProShares UltraShort QQQ) and QTAP (Innovator Growth Accelerated Plus ETF - April) are both Leveraged Equities funds. QID is passively managed, while QTAP is actively managed. Over the past 5 years, QID returned -27.97%/yr vs 12.30%/yr for QTAP. Their -0.92 correlation means they have often moved in opposite directions in the past. QID charges 0.95%/yr vs 0.79%/yr for QTAP.
Performance
QID vs. QTAP - Performance Comparison
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Returns By Period
In the year-to-date period, QID achieves a -21.02% return, which is significantly lower than QTAP's 13.57% return.
QID
- 1D
- -1.22%
- 1M
- 6.86%
- 6M
- -19.38%
- YTD
- -21.02%
- 1Y
- -35.07%
- 3Y*
- -33.07%
- 5Y*
- -27.97%
- 10Y*
- -37.32%
- ALL TIME*
- -34.54%
QTAP
- 1D
- 0.27%
- 1M
- 0.15%
- 6M
- 12.76%
- YTD
- 13.57%
- 1Y
- 20.30%
- 3Y*
- 18.84%
- 5Y*
- 12.30%
- 10Y*
- —
- ALL TIME*
- 13.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $255.66M | $222.38M | $304.58M | |
| $235.81K | $225.86K | $220.48K |
QID vs. QTAP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
QID ProShares UltraShort QQQ | -21.02% | -34.97% | -34.06% | -57.19% | 66.30% | -40.15% |
QTAP Innovator Growth Accelerated Plus ETF - April | 13.57% | 19.36% | 17.34% | 43.32% | -25.87% | 15.95% |
Correlation
The correlation between QID and QTAP is -0.87, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.87 |
Correlation (3Y) Balances recent behavior with more history. | -0.88 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.92 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 2021 | -0.92 |
The correlation between QID and QTAP has been stable across timeframes, ranging from -0.92 to -0.87 - a consistent structural relationship.
QID vs. QTAP - Sectors Allocation Comparison
Sectors
QID
QTAP
Financial Services
Basic Materials
-
Communication Services
-
Consumer Cyclical
-
Consumer Defensive
-
Energy
-
Healthcare
-
Industrials
-
Real Estate
-
Technology
-
Utilities
-
Financial Services
QID
QTAP
Basic Materials
QID
-
QTAP
Communication Services
QID
-
QTAP
Consumer Cyclical
QID
-
QTAP
Consumer Defensive
QID
-
QTAP
Energy
QID
-
QTAP
Healthcare
QID
-
QTAP
Industrials
QID
-
QTAP
Real Estate
QID
-
QTAP
Technology
QID
-
QTAP
Utilities
QID
-
QTAP
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Return for Risk
QID vs. QTAP — Risk / Return Rank
QID
QTAP
QID vs. QTAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort QQQ (QID) 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.
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.
| QID | QTAP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.79 | ||
| Sortino ratioReturn per unit of downside risk | -5.89 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.69 | -0.81 |
| Calmar ratioReturn relative to maximum drawdown | -0.73 | 6.93 | -7.66 |
| Martin ratioReturn relative to average drawdown | -1.34 | 33.23 | -34.57 |
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Drawdowns
QID vs. QTAP - Drawdown Comparison
The maximum QID drawdown since its inception was -99.99%, which is greater than QTAP's maximum drawdown of -29.44%. Use the drawdown chart below to compare losses from any high point for QID and QTAP.
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Drawdown Indicators
| QID | QTAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -29.44% | -70.55% |
Max Drawdown (1Y)Largest decline over 1 year | -44.65% | -2.81% | -41.84% |
Max Drawdown (3Y)Largest decline over 3 years | -79.50% | -13.03% | -66.47% |
Max Drawdown (5Y)Largest decline over 5 years | -88.72% | -29.44% | -59.28% |
Max Drawdown (10Y)Largest decline over 10 years | -99.21% | — | — |
Current DrawdownCurrent decline from peak | -99.99% | -1.05% | -98.94% |
Average DrawdownAverage peak-to-trough decline | -87.09% | -4.91% | -82.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.20% | 0.59% | +23.61% |
Volatility
QID vs. QTAP - Volatility Comparison
ProShares UltraShort QQQ (QID) has a higher volatility of 13.93% compared to Innovator Growth Accelerated Plus ETF - April (QTAP) at 2.75%. This indicates that QID's price experiences larger fluctuations and is considered to be riskier than QTAP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QID | QTAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.93% | 2.75% | +11.18% |
Volatility (6M)Calculated over the trailing 6-month period | 32.16% | 5.69% | +26.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.79% | 6.61% | +32.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.80% | 18.92% | +26.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.96% | 18.57% | +26.39% |
QID vs. QTAP - Expense Ratio Comparison
QID has a 0.95% expense ratio, which is higher than QTAP's 0.79% expense ratio.
Dividends
QID vs. QTAP - Dividend Comparison
QID's dividend yield for the trailing twelve months is around 7.46%, while QTAP has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
QID ProShares UltraShort QQQ | 7.46% | 6.25% | 7.99% | 5.63% | 0.15% | 0.00% | 0.92% | 2.54% | 1.38% | 0.08% |
QTAP Innovator Growth Accelerated Plus ETF - April | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
QID and QTAP have a correlation of -0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QID has higher volatility (13.93%) compared to QTAP (2.75%). In terms of maximum drawdown, QID dropped -99.99% vs QTAP's -29.44%.
On 5-year performance, QTAP leads with 12.30% vs -27.97% for QID. On fees, QTAP is cheaper at 0.79% per year. On volatility, QTAP has been the lower-risk option at 2.75%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, QTAP has performed better with a 12.30% return vs -27.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QTAP is cheaper with a 0.79% expense ratio, compared with 0.95% for QID.
QID has the higher dividend yield at 7.46%, compared with 0.00% for QTAP.
They also come from different issuers: ProShares and Innovator. Their fees differ too: 0.95% for QID and 0.79% for QTAP.
QTAP currently has the higher Sharpe Ratio (2.95 vs -0.84), 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.
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