QQXL vs. QTAP
QQXL (ProShares Ultra QQQ Top 30) and QTAP (Innovator Growth Accelerated Plus ETF - April) are both Leveraged Equities funds. Both are actively managed. Their correlation of 0.82 suggests significant overlap in exposure. QQXL charges 0.95%/yr vs 0.79%/yr for QTAP.
Performance
QQXL vs. QTAP - Performance Comparison
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Returns By Period
In the year-to-date period, QQXL achieves a 29.93% return, which is significantly higher than QTAP's 13.22% return.
QQXL
- 1D
- 1.80%
- 1M
- -7.57%
- YTD
- 29.93%
- 6M
- 25.57%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QTAP
- 1D
- 0.41%
- 1M
- -1.07%
- YTD
- 13.22%
- 6M
- 13.12%
- 1Y
- 21.83%
- 3Y*
- 20.17%
- 5Y*
- 12.76%
- 10Y*
- —
QQXL vs. QTAP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QQXL ProShares Ultra QQQ Top 30 | 29.93% | 9.00% |
QTAP Innovator Growth Accelerated Plus ETF - April | 13.22% | 3.84% |
Correlation
The correlation between QQXL and QTAP is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 15, 2025 | 0.82 |
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Return for Risk
QQXL vs. QTAP — Risk / Return Rank
QQXL
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
QTAP
QQXL vs. QTAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra QQQ Top 30 (QQXL) 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.
| QQXL | QTAP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.91 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 8.80 | — |
| Martin ratioReturn relative to average drawdown | — | 48.87 | — |
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Drawdowns
QQXL vs. QTAP - Drawdown Comparison
The maximum QQXL drawdown since its inception was -27.34%, smaller than the maximum QTAP drawdown of -29.44%. Use the drawdown chart below to compare losses from any high point for QQXL and QTAP.
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Drawdown Indicators
| QQXL | QTAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.34% | -29.44% | +2.10% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.49% | — |
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 | -10.07% | -1.36% | -8.71% |
Average DrawdownAverage peak-to-trough decline | -6.81% | -4.99% | -1.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.45% | — |
Volatility
QQXL vs. QTAP - Volatility Comparison
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Volatility by Period
| QQXL | QTAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 3.01% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 4.94% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 40.52% | 6.05% | +34.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 40.52% | 18.92% | +21.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.52% | 18.70% | +21.82% |
QQXL vs. QTAP - Expense Ratio Comparison
QQXL has a 0.95% expense ratio, which is higher than QTAP's 0.79% expense ratio.
Dividends
QQXL vs. QTAP - Dividend Comparison
QQXL's dividend yield for the trailing twelve months is around 0.78%, while QTAP has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
QQXL ProShares Ultra QQQ Top 30 | 0.78% | 0.08% |
QTAP Innovator Growth Accelerated Plus ETF - April | 0.00% | 0.00% |
Frequently Asked Questions
QQXL and QTAP have a correlation of 0.82, 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 0.95% for QQXL.
QQXL has the higher dividend yield at 0.78%, compared with 0.00% for QTAP.
They also come from different issuers: ProShares and Innovator. Their fees differ too: 0.95% for QQXL and 0.79% for QTAP.
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