QTAP vs. MUU

Last updated Jun 24, 2026

QTAP (Innovator Growth Accelerated Plus ETF - April) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds. QTAP is actively managed, while MUU is passively managed. With a 1.00 correlation, they move nearly in lockstep. QTAP charges 0.79%/yr vs 1.01%/yr for MUU.

Performance

QTAP vs. MUU - Performance Comparison

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

Returns By Period

QTAP

• 1D: -1.14%
• 1M: -0.91%
• YTD: 12.83%
• 6M: 13.01%
• 1Y: 22.41%
• 3Y*: 19.78%
• 5Y*: 12.65%
• 10Y*: —

MUU

• 1D: -26.28%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QTAP vs. MUU - Yearly Performance Comparison

	2026 (YTD)
QTAP Innovator Growth Accelerated Plus ETF - April	-1.61%
MUU Direxion Daily MU Bull 2X Shares	-12.11%

Correlation

The correlation between QTAP and MUU is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 16, 2026	1.00

Return for Risk

QTAP vs. MUU — Risk / Return Rank

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

QTAP

QTAP Risk / Return Rank: 97
QTAP Sharpe Ratio Rank: 96
QTAP Sortino Ratio Rank: 97
QTAP Omega Ratio Rank: 97
QTAP Calmar Ratio Rank: 96
QTAP Martin Ratio Rank: 98

MUU

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Growth Accelerated Plus ETF - April (QTAP) and Direxion Daily MU Bull 2X Shares (MUU). 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.

	QTAP	MUU	Difference
Sharpe ratio: Return per unit of total volatility	3.70	—	—
Sortino ratio: Return per unit of downside risk	6.02	—	—
Omega ratio: Gain probability vs. loss probability	1.94	—	—
Calmar ratio: Return relative to maximum drawdown	9.04	—	—
Martin ratio: Return relative to average drawdown	52.85	—	—

Drawdowns

QTAP vs. MUU - Drawdown Comparison

The maximum QTAP drawdown since its inception was -29.44%, which is greater than MUU's maximum drawdown of -26.28%. Use the drawdown chart below to compare losses from any high point for QTAP and MUU.

Drawdown Indicators

	QTAP	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-29.44%	-26.28%	-3.16%
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 Drawdown Current decline from peak	-1.70%	-26.28%	+24.58%
Average Drawdown Average peak-to-trough decline	-4.99%	-10.19%	+5.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.43%	—	—

Volatility

Volatility by Period

	QTAP	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.03%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.94%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	6.12%	295.32%	-289.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.92%	295.32%	-276.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.72%	295.32%	-276.60%

QTAP vs. MUU - Expense Ratio Comparison

QTAP has a 0.79% expense ratio, which is lower than MUU's 1.01% expense ratio.

Dividends

QTAP vs. MUU - Dividend Comparison

Neither QTAP nor MUU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both QTAP and MUU in my portfolio?

With a correlation of 1.00, QTAP and MUU move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, QTAP or MUU?

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.

Which ETF is cheaper, QTAP or MUU?

QTAP is cheaper with a 0.79% expense ratio, compared with 1.01% for MUU.

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

QTAP and MUU have nearly identical dividend yields, around 0.00%.

What is the main difference between QTAP and MUU?

They also come from different issuers: Innovator and Direxion. Their fees differ too: 0.79% for QTAP and 1.01% for MUU.