QTAP vs. NVDG

Last updated Jun 26, 2026

QTAP (Innovator Growth Accelerated Plus ETF - April) and NVDG (Leverage Shares 2X Long NVDA Daily ETF) are both Leveraged Equities funds. Both are actively managed. Over the past year, QTAP returned 21.83% vs 26.25% for NVDG. A 0.62 correlation means they provide meaningful diversification when combined. QTAP charges 0.79%/yr vs 0.75%/yr for NVDG.

Performance

QTAP vs. NVDG - 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 NVDA Daily ETF (NVDG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QTAP achieves a 13.22% return, which is significantly higher than NVDG's -2.91% return.

QTAP

• 1D: 0.41%
• 1M: -1.07%
• YTD: 13.22%
• 6M: 13.12%
• 1Y: 21.83%
• 3Y*: 20.17%
• 5Y*: 12.76%
• 10Y*: —

NVDG

• 1D: -2.92%
• 1M: -19.09%
• YTD: -2.91%
• 6M: -5.36%
• 1Y: 26.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QTAP vs. NVDG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QTAP Innovator Growth Accelerated Plus ETF - April	13.22%	19.36%	-0.54%
NVDG Leverage Shares 2X Long NVDA Daily ETF	-2.91%	32.45%	-0.52%

Correlation

The correlation between QTAP and NVDG is 0.50, 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	0.50
Correlation (All Time) Calculated using the full available price history since Dec 13, 2024	0.62

The correlation between QTAP and NVDG shifts across timeframes, from 0.50 (1 year) to 0.62 (all time), reflecting how their relationship changes across market environments.

Return for Risk

QTAP vs. NVDG — 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: 97
QTAP Martin Ratio Rank: 98

NVDG

NVDG Risk / Return Rank: 17
NVDG Sharpe Ratio Rank: 15
NVDG Sortino Ratio Rank: 19
NVDG Omega Ratio Rank: 18
NVDG Calmar Ratio Rank: 17
NVDG Martin Ratio Rank: 15

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. NVDG - 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 NVDA Daily ETF (NVDG). 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	NVDG	Difference
Sharpe ratio: Return per unit of total volatility	3.62	0.38	+3.24
Sortino ratio: Return per unit of downside risk	5.88	1.00	+4.88
Omega ratio: Gain probability vs. loss probability	1.91	1.12	+0.80
Calmar ratio: Return relative to maximum drawdown	8.80	0.62	+8.19
Martin ratio: Return relative to average drawdown	48.87	1.33	+47.54

QTAP vs. NVDG - Sharpe Ratio Comparison

The current QTAP Sharpe Ratio is 3.62, which is higher than the NVDG Sharpe Ratio of 0.38. The chart below compares the historical Sharpe Ratios of QTAP and NVDG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

QTAP vs. NVDG - Drawdown Comparison

The maximum QTAP drawdown since its inception was -29.44%, smaller than the maximum NVDG drawdown of -66.19%. Use the drawdown chart below to compare losses from any high point for QTAP and NVDG.

Drawdown Indicators

	QTAP	NVDG	Difference
Max Drawdown Largest peak-to-trough decline	-29.44%	-66.19%	+36.75%
Max Drawdown (1Y) Largest decline over 1 year	-2.49%	-42.72%	+40.23%
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	-1.36%	-33.33%	+31.97%
Average Drawdown Average peak-to-trough decline	-4.99%	-23.10%	+18.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.45%	19.80%	-19.35%

Volatility

QTAP vs. NVDG - Volatility Comparison

The current volatility for Innovator Growth Accelerated Plus ETF - April (QTAP) is 3.01%, while Leverage Shares 2X Long NVDA Daily ETF (NVDG) has a volatility of 25.96%. This indicates that QTAP experiences smaller price fluctuations and is considered to be less risky than NVDG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QTAP	NVDG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.01%	25.96%	-22.95%
Volatility (6M) Calculated over the trailing 6-month period	4.94%	52.33%	-47.39%
Volatility (1Y) Calculated over the trailing 1-year period	6.05%	70.14%	-64.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.92%	90.40%	-71.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.70%	90.40%	-71.70%

QTAP vs. NVDG - Expense Ratio Comparison

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

Dividends

QTAP vs. NVDG - Dividend Comparison

QTAP has not paid dividends to shareholders, while NVDG's dividend yield for the trailing twelve months is around 12.17%.

Position	TTM	2025
NVDG Leverage Shares 2X Long NVDA Daily ETF	12.17%	11.81%
QTAP Innovator Growth Accelerated Plus ETF - April	0.00%	0.00%

Frequently Asked Questions

Can I hold both QTAP and NVDG in my portfolio?

QTAP and NVDG have a correlation of 0.50, 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 NVDG?

NVDG has higher volatility (25.96%) compared to QTAP (3.01%). In terms of maximum drawdown, QTAP dropped -29.44% vs NVDG's -66.19%.

Which ETF is better, QTAP or NVDG?

On 1-year performance, NVDG leads with 26.25% vs 21.83% for QTAP. On fees, NVDG is cheaper at 0.75% per year. On volatility, QTAP has been the lower-risk option at 3.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QTAP or NVDG?

Over the 1-year period, NVDG has performed better with a 26.25% return vs 21.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QTAP or NVDG?

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

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

NVDG has the higher dividend yield at 12.17%, compared with 0.00% for QTAP.

What is the main difference between QTAP and NVDG?

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

Which has better risk-adjusted returns?

QTAP currently has the higher Sharpe Ratio (3.62 vs 0.38), 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.