QTAP vs. ARMG

Last updated Jun 5, 2026

QTAP (Innovator Growth Accelerated Plus ETF - April) and ARMG (Leverage Shares 2X Long ARM Daily ETF) are both Leveraged Equities funds. Both are actively managed. Over the past year, QTAP returned 25.33% vs 443.95% for ARMG. A 0.58 correlation means they provide meaningful diversification when combined. QTAP charges 0.79%/yr vs 0.75%/yr for ARMG.

Performance

QTAP vs. ARMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Growth Accelerated Plus ETF - April (QTAP) and Leverage Shares 2X Long ARM Daily ETF (ARMG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QTAP achieves a 14.58% return, which is significantly lower than ARMG's 841.05% return.

QTAP

• 1D: -0.08%
• 1M: 2.33%
• YTD: 14.58%
• 6M: 15.43%
• 1Y: 25.33%
• 3Y*: 21.09%
• 5Y*: 13.77%
• 10Y*: —

ARMG

• 1D: -9.19%
• 1M: 211.14%
• YTD: 841.05%
• 6M: 460.44%
• 1Y: 443.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

QTAP vs. ARMG - Yearly Performance Comparison

	2026 (YTD)	2025
QTAP Innovator Growth Accelerated Plus ETF - April	14.58%	19.76%
ARMG Leverage Shares 2X Long ARM Daily ETF	841.05%	-61.80%

Correlation

The correlation between QTAP and ARMG is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.52
Correlation (All Time) Calculated using the full available price history since Jan 15, 2025	0.58

The correlation between QTAP and ARMG has been stable across timeframes, ranging from 0.52 to 0.58 - a consistent structural relationship.

Return for Risk

QTAP vs. ARMG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QTAP

QTAP Risk / Return Rank: 98
QTAP Sharpe Ratio Rank: 97
QTAP Sortino Ratio Rank: 98
QTAP Omega Ratio Rank: 98
QTAP Calmar Ratio Rank: 98
QTAP Martin Ratio Rank: 98

ARMG

ARMG Risk / Return Rank: 81
ARMG Sharpe Ratio Rank: 93
ARMG Sortino Ratio Rank: 78
ARMG Omega Ratio Rank: 74
ARMG Calmar Ratio Rank: 93
ARMG Martin Ratio Rank: 65

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

QTAP vs. ARMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Growth Accelerated Plus ETF - April (QTAP) and Leverage Shares 2X Long ARM Daily ETF (ARMG). 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.

	QTAP	ARMG	Difference
Sharpe ratio: Return per unit of total volatility	4.57	3.43	+1.15
Sortino ratio: Return per unit of downside risk	8.42	3.45	+4.97
Omega ratio: Gain probability vs. loss probability	2.21	1.43	+0.78
Calmar ratio: Return relative to maximum drawdown	15.04	6.57	+8.47
Martin ratio: Return relative to average drawdown	79.40	11.59	+67.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QTAP vs. ARMG - Sharpe Ratio Comparison

The current QTAP Sharpe Ratio is 4.57, which is higher than the ARMG Sharpe Ratio of 3.43. The chart below compares the historical Sharpe Ratios of QTAP and ARMG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	QTAP	ARMG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.57	3.43	+1.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	1.10	-0.35

Drawdowns

QTAP vs. ARMG - Drawdown Comparison

The maximum QTAP drawdown since its inception was -29.44%, smaller than the maximum ARMG drawdown of -80.28%. Use the drawdown chart below to compare losses from any high point for QTAP and ARMG.

Drawdown Indicators

	QTAP	ARMG	Difference
Max Drawdown Largest peak-to-trough decline	-29.44%	-80.28%	+50.84%
Max Drawdown (1Y) Largest decline over 1 year	-1.69%	-68.13%	+66.44%
Max Drawdown (3Y) Largest decline over 3 years	-13.03%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-29.44%	—	—
Current Drawdown Current decline from peak	-0.18%	-9.19%	+9.01%
Average Drawdown Average peak-to-trough decline	-5.03%	-52.91%	+47.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.32%	38.55%	-38.23%

Volatility

QTAP vs. ARMG - Volatility Comparison

The current volatility for Innovator Growth Accelerated Plus ETF - April (QTAP) is 1.30%, while Leverage Shares 2X Long ARM Daily ETF (ARMG) has a volatility of 66.47%. This indicates that QTAP experiences smaller price fluctuations and is considered to be less risky than ARMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QTAP	ARMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.30%	66.47%	-65.17%
Volatility (6M) Calculated over the trailing 6-month period	3.98%	104.49%	-100.51%
Volatility (1Y) Calculated over the trailing 1-year period	5.56%	130.67%	-125.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.88%	138.36%	-119.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.77%	138.36%	-119.59%

QTAP vs. ARMG - Expense Ratio Comparison

QTAP has a 0.79% expense ratio, which is higher than ARMG's 0.75% expense ratio.

Dividends

QTAP vs. ARMG - Dividend Comparison

QTAP has not paid dividends to shareholders, while ARMG's dividend yield for the trailing twelve months is around 0.52%.

Position	TTM	2025
ARMG Leverage Shares 2X Long ARM Daily ETF	0.52%	4.86%
QTAP Innovator Growth Accelerated Plus ETF - April	0.00%	0.00%

Frequently Asked Questions

Can I hold both QTAP and ARMG in my portfolio?

QTAP and ARMG have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QTAP or ARMG?

ARMG has higher volatility (66.47%) compared to QTAP (1.30%). In terms of maximum drawdown, QTAP dropped -29.44% vs ARMG's -80.28%.

Which ETF is better, QTAP or ARMG?

On 1-year performance, ARMG leads with 443.95% vs 25.33% for QTAP. On fees, ARMG is cheaper at 0.75% per year. On volatility, QTAP has been the lower-risk option at 1.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QTAP or ARMG?

Over the 1-year period, ARMG has performed better with a 443.95% return vs 25.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QTAP or ARMG?

ARMG is cheaper with a 0.75% expense ratio, compared with 0.79% for QTAP.

Which ETF pays a higher dividend yield, QTAP or ARMG?

ARMG has the higher dividend yield at 0.52%, compared with 0.00% for QTAP.

What is the main difference between QTAP and ARMG?

They also come from different issuers: Innovator and Leverage Shares. Their fees differ too: 0.79% for QTAP and 0.75% for ARMG.

Which has better risk-adjusted returns?

QTAP currently has the higher Sharpe Ratio (4.57 vs 3.43), 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.