QTAP vs. SOXL

Last updated Jun 5, 2026

QTAP (Innovator Growth Accelerated Plus ETF - April) and SOXL (Direxion Daily Semiconductor Bull 3X ETF) are both Leveraged Equities funds. QTAP is actively managed, while SOXL is passively managed. Over the past 5 years, QTAP returned 13.77%/yr vs 46.78%/yr for SOXL. A 0.77 correlation means they provide meaningful diversification when combined. QTAP charges 0.79%/yr vs 0.75%/yr for SOXL.

Performance

QTAP vs. SOXL - 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 Semiconductor Bull 3X ETF (SOXL). 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 SOXL's 525.03% return.

QTAP

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

SOXL

• 1D: -6.36%
• 1M: 82.23%
• YTD: 525.03%
• 6M: 481.71%
• 1Y: 1,280.87%
• 3Y*: 133.82%
• 5Y*: 46.78%
• 10Y*: 64.43%

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

QTAP vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
QTAP Innovator Growth Accelerated Plus ETF - April	14.58%	19.36%	17.34%	43.32%	-25.87%	15.63%
SOXL Direxion Daily Semiconductor Bull 3X ETF	525.03%	54.91%	-12.31%	226.98%	-85.66%	60.40%

Correlation

The correlation between QTAP and SOXL is 0.63, 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	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (All Time) Calculated using the full available price history since Apr 5, 2021	0.77

The correlation between QTAP and SOXL shifts across timeframes, from 0.63 (1 year) to 0.77 (all time), reflecting how their relationship changes across market environments.

QTAP vs. SOXL - Sectors Allocation Comparison

Sectors	QTAP	SOXL
Technology	50.7%	100.0%
Communication Services	15.8%	-
Consumer Cyclical	12.5%	-
Consumer Defensive	8.7%	-
Healthcare	5.1%	-
Industrials	3.3%	-
Utilities	1.6%	-
Basic Materials	1.3%	-
Energy	0.7%	-
Financial Services	0.2%	-
Real Estate	0.1%	-

Return for Risk

QTAP vs. SOXL — 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

SOXL

SOXL Risk / Return Rank: 97
SOXL Sharpe Ratio Rank: 100
SOXL Sortino Ratio Rank: 95
SOXL Omega Ratio Rank: 94
SOXL Calmar Ratio Rank: 99
SOXL Martin Ratio Rank: 99

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. SOXL - 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 Semiconductor Bull 3X ETF (SOXL). 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	SOXL	Difference
Sharpe ratio: Return per unit of total volatility	4.57	12.69	-8.11
Sortino ratio: Return per unit of downside risk	8.42	4.98	+3.44
Omega ratio: Gain probability vs. loss probability	2.21	1.69	+0.53
Calmar ratio: Return relative to maximum drawdown	15.04	29.80	-14.76
Martin ratio: Return relative to average drawdown	79.40	102.14	-22.74
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. SOXL - Sharpe Ratio Comparison

The current QTAP Sharpe Ratio is 4.57, which is lower than the SOXL Sharpe Ratio of 12.69. The chart below compares the historical Sharpe Ratios of QTAP and SOXL, 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	SOXL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.57	12.69	-8.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	0.44	+0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.65	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	0.51	+0.24

Drawdowns

QTAP vs. SOXL - Drawdown Comparison

The maximum QTAP drawdown since its inception was -29.44%, smaller than the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for QTAP and SOXL.

Drawdown Indicators

	QTAP	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-29.44%	-90.46%	+61.02%
Max Drawdown (1Y) Largest decline over 1 year	-1.69%	-43.47%	+41.78%
Max Drawdown (3Y) Largest decline over 3 years	-13.03%	-87.88%	+74.85%
Max Drawdown (5Y) Largest decline over 5 years	-29.44%	-90.46%	+61.02%
Max Drawdown (10Y) Largest decline over 10 years	—	-90.46%	—
Current Drawdown Current decline from peak	-0.18%	-6.36%	+6.18%
Average Drawdown Average peak-to-trough decline	-5.03%	-35.01%	+29.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.32%	12.66%	-12.34%

Volatility

QTAP vs. SOXL - Volatility Comparison

The current volatility for Innovator Growth Accelerated Plus ETF - April (QTAP) is 1.30%, while Direxion Daily Semiconductor Bull 3X ETF (SOXL) has a volatility of 41.05%. This indicates that QTAP experiences smaller price fluctuations and is considered to be less risky than SOXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QTAP	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.30%	41.05%	-39.75%
Volatility (6M) Calculated over the trailing 6-month period	3.98%	81.57%	-77.59%
Volatility (1Y) Calculated over the trailing 1-year period	5.56%	102.16%	-96.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.88%	107.25%	-88.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.77%	99.05%	-80.28%

QTAP vs. SOXL - Expense Ratio Comparison

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

Dividends

QTAP vs. SOXL - Dividend Comparison

QTAP has not paid dividends to shareholders, while SOXL's dividend yield for the trailing twelve months is around 0.03%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%	0.00%
SOXL Direxion Daily Semiconductor Bull 3X ETF	0.03%	0.34%	1.18%	0.51%	1.07%	0.04%	0.05%	0.38%	1.30%	0.09%	4.84%

Frequently Asked Questions

Can I hold both QTAP and SOXL in my portfolio?

QTAP and SOXL have a correlation of 0.63, 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 SOXL?

SOXL has higher volatility (41.05%) compared to QTAP (1.30%). In terms of maximum drawdown, QTAP dropped -29.44% vs SOXL's -90.46%.

Which ETF is better, QTAP or SOXL?

On 5-year performance, SOXL leads with 46.78% vs 13.77% for QTAP. On fees, SOXL 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 SOXL?

Over the 5-year period, SOXL has performed better with a 46.78% return vs 13.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QTAP or SOXL?

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

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

SOXL has the higher dividend yield at 0.03%, compared with 0.00% for QTAP.

What is the main difference between QTAP and SOXL?

They also come from different issuers: Innovator and Direxion. Their fees differ too: 0.79% for QTAP and 0.75% for SOXL.

Which has better risk-adjusted returns?

SOXL currently has the higher Sharpe Ratio (12.69 vs 4.57), 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.