QTAP vs. SZK
QTAP (Innovator Growth Accelerated Plus ETF - April) and SZK (ProShares UltraShort Consumer Goods) are both Leveraged Equities funds. QTAP is actively managed, while SZK is passively managed. Over the past 5 years, QTAP returned 13.78%/yr vs -3.44%/yr for SZK. At a correlation of -0.49, they often move in opposite directions. QTAP charges 0.79%/yr vs 0.95%/yr for SZK.
Performance
QTAP vs. SZK - Performance Comparison
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Returns By Period
In the year-to-date period, QTAP achieves a 14.67% return, which is significantly higher than SZK's -10.45% return.
QTAP
- 1D
- -0.10%
- 1M
- 2.89%
- YTD
- 14.67%
- 6M
- 15.56%
- 1Y
- 25.59%
- 3Y*
- 21.18%
- 5Y*
- 13.78%
- 10Y*
- —
SZK
- 1D
- -0.60%
- 1M
- 3.66%
- YTD
- -10.45%
- 6M
- -8.35%
- 1Y
- 2.69%
- 3Y*
- -4.48%
- 5Y*
- -3.44%
- 10Y*
- -16.12%
QTAP vs. SZK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
QTAP Innovator Growth Accelerated Plus ETF - April | 14.67% | 19.36% | 17.34% | 43.32% | -25.87% | 15.63% |
SZK ProShares UltraShort Consumer Goods | -10.45% | 3.37% | -11.33% | -3.10% | 47.20% | -33.00% |
Correlation
The correlation between QTAP and SZK is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.48 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2021 | -0.49 |
Over the past year, the inverse relationship between QTAP and SZK has weakened: their correlation has moved from -0.49 to -0.01, meaning they move in opposite directions less often than they have historically.
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Return for Risk
QTAP vs. SZK — Risk / Return Rank
QTAP
SZK
QTAP vs. SZK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Growth Accelerated Plus ETF - April (QTAP) and ProShares UltraShort Consumer Goods (SZK). 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 | SZK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.52 | ||
| Sortino ratioReturn per unit of downside risk | +8.17 | ||
| Omega ratioGain probability vs. loss probability | 2.23 | 1.04 | +1.19 |
| Calmar ratioReturn relative to maximum drawdown | 15.20 | 0.09 | +15.10 |
| Martin ratioReturn relative to average drawdown | 80.04 | 0.21 | +79.83 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| QTAP | SZK | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.62 | 0.11 | +4.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | -0.11 | +0.84 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.48 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.75 | -0.59 | +1.34 |
Drawdowns
QTAP vs. SZK - Drawdown Comparison
The maximum QTAP drawdown since its inception was -29.44%, smaller than the maximum SZK drawdown of -99.40%. Use the drawdown chart below to compare losses from any high point for QTAP and SZK.
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Drawdown Indicators
| QTAP | SZK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.44% | -99.40% | +69.96% |
Max Drawdown (1Y)Largest decline over 1 year | -1.69% | -29.26% | +27.57% |
Max Drawdown (3Y)Largest decline over 3 years | -13.03% | -41.81% | +28.78% |
Max Drawdown (5Y)Largest decline over 5 years | -29.44% | -41.81% | +12.37% |
Max Drawdown (10Y)Largest decline over 10 years | — | -86.78% | — |
Current DrawdownCurrent decline from peak | -0.10% | -99.24% | +99.14% |
Average DrawdownAverage peak-to-trough decline | -5.04% | -81.99% | +76.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.32% | 12.87% | -12.55% |
Volatility
QTAP vs. SZK - Volatility Comparison
The current volatility for Innovator Growth Accelerated Plus ETF - April (QTAP) is 1.33%, while ProShares UltraShort Consumer Goods (SZK) has a volatility of 8.10%. This indicates that QTAP experiences smaller price fluctuations and is considered to be less risky than SZK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QTAP | SZK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.33% | 8.10% | -6.77% |
Volatility (6M)Calculated over the trailing 6-month period | 3.97% | 19.99% | -16.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.56% | 25.19% | -19.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.89% | 31.45% | -12.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.77% | 33.60% | -14.83% |
QTAP vs. SZK - Expense Ratio Comparison
QTAP has a 0.79% expense ratio, which is lower than SZK's 0.95% expense ratio.
Dividends
QTAP vs. SZK - Dividend Comparison
QTAP has not paid dividends to shareholders, while SZK's dividend yield for the trailing twelve months is around 2.65%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
SZK ProShares UltraShort Consumer Goods | 2.65% | 2.90% | 5.70% | 4.03% | 0.56% | 0.00% | 0.19% | 1.70% | 0.50% |
Frequently Asked Questions
QTAP and SZK have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SZK has higher volatility (8.10%) compared to QTAP (1.33%). In terms of maximum drawdown, QTAP dropped -29.44% vs SZK's -99.40%.
On 5-year performance, QTAP leads with 13.78% vs -3.44% for SZK. On fees, QTAP is cheaper at 0.79% per year. On volatility, QTAP has been the lower-risk option at 1.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, QTAP has performed better with a 13.78% return vs -3.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QTAP is cheaper with a 0.79% expense ratio, compared with 0.95% for SZK.
SZK has the higher dividend yield at 2.65%, compared with 0.00% for QTAP.
They also come from different issuers: Innovator and ProShares. Their fees differ too: 0.79% for QTAP and 0.95% for SZK.
QTAP currently has the higher Sharpe Ratio (4.62 vs 0.11), 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.
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