QTJL vs. UPSX

Last updated Aug 4, 2026

QTJL (Innovator Growth Accelerated Plus ETF - July) and UPSX (Tradr 2X Long UPST Daily ETF) are both Leveraged Equities funds. Both are actively managed. Over the past year, QTJL returned 13.57% vs -93.09% for UPSX. Their 0.45 correlation means their historical movements had little consistent relationship. QTJL charges 0.79%/yr vs 1.30%/yr for UPSX.

Performance

QTJL vs. UPSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Growth Accelerated Plus ETF - July (QTJL) and Tradr 2X Long UPST Daily ETF (UPSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QTJL achieves a 4.03% return, which is significantly higher than UPSX's -69.19% return.

QTJL

• 1D: 1.43%
• 1M: -0.57%
• 6M: 2.72%
• YTD: 4.03%
• 1Y: 13.57%
• 3Y*: 17.40%
• 5Y*: 9.12%
• 10Y*: —
• ALL TIME*: 9.62%

UPSX

• 1D: 14.49%
• 1M: -31.06%
• 6M: -60.77%
• YTD: -69.19%
• 1Y: -93.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -84.29%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
QTJL Innovator Growth Accelerated Plus ETF - July	$205.17K	$322.53K	$250.53K
UPSX Tradr 2X Long UPST Daily ETF	$618.08K	$729.96K	$1.41M

QTJL vs. UPSX - Yearly Performance Comparison

	2026 (YTD)	2025
QTJL Innovator Growth Accelerated Plus ETF - July	4.03%	11.59%
UPSX Tradr 2X Long UPST Daily ETF	-69.19%	-61.18%

Correlation

The correlation between QTJL and UPSX is 0.47, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.47
Correlation (All Time) Calculated using the full available price history since Jun 10, 2025	0.45

Return for Risk

QTJL vs. UPSX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

QTJL

QTJL Risk / Return Rank: 49
QTJL Sharpe Ratio Rank: 45
QTJL Sortino Ratio Rank: 45
QTJL Omega Ratio Rank: 50
QTJL Calmar Ratio Rank: 43
QTJL Martin Ratio Rank: 62

UPSX

UPSX Risk / Return Rank: 2
UPSX Sharpe Ratio Rank: 4
UPSX Sortino Ratio Rank: 2
UPSX Omega Ratio Rank: 2
UPSX Calmar Ratio Rank: 0
UPSX Martin Ratio Rank: 3

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

QTJL vs. UPSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Growth Accelerated Plus ETF - July (QTJL) and Tradr 2X Long UPST Daily ETF (UPSX). 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.

	QTJL	UPSX	Difference
Sharpe ratio: Return per unit of total volatility	1.16	-0.67	+1.84
Sortino ratio: Return per unit of downside risk	1.72	-1.56	+3.28
Omega ratio: Gain probability vs. loss probability	1.24	0.82	+0.42
Calmar ratio: Return relative to maximum drawdown	1.61	-0.98	+2.59
Martin ratio: Return relative to average drawdown	7.83	-1.16	+8.99

QTJL vs. UPSX - Sharpe Ratio Comparison

The current QTJL Sharpe Ratio is 1.16, which is higher than the UPSX Sharpe Ratio of -0.67. The chart below compares the historical Sharpe Ratios of QTJL and UPSX, 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

QTJL vs. UPSX - Drawdown Comparison

The maximum QTJL drawdown since its inception was -33.40%, smaller than the maximum UPSX drawdown of -95.03%. Use the drawdown chart below to compare losses from any high point for QTJL and UPSX.

Drawdown Indicators

	QTJL	UPSX	Difference
Max Drawdown Largest peak-to-trough decline	-33.40%	-95.03%	+61.63%
Max Drawdown (1Y) Largest decline over 1 year	-8.48%	-94.81%	+86.33%
Max Drawdown (3Y) Largest decline over 3 years	-22.43%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-33.40%	—	—
Current Drawdown Current decline from peak	-3.26%	-93.93%	+90.67%
Average Drawdown Average peak-to-trough decline	-7.74%	-69.64%	+61.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.74%	80.40%	-78.66%

Volatility

QTJL vs. UPSX - Volatility Comparison

The current volatility for Innovator Growth Accelerated Plus ETF - July (QTJL) is 6.50%, while Tradr 2X Long UPST Daily ETF (UPSX) has a volatility of 28.31%. This indicates that QTJL experiences smaller price fluctuations and is considered to be less risky than UPSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QTJL	UPSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.50%	28.31%	-21.81%
Volatility (6M) Calculated over the trailing 6-month period	9.72%	99.31%	-89.59%
Volatility (1Y) Calculated over the trailing 1-year period	11.73%	138.81%	-127.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.45%	137.24%	-116.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.30%	137.24%	-116.94%

QTJL vs. UPSX - Expense Ratio Comparison

QTJL has a 0.79% expense ratio, which is lower than UPSX's 1.30% expense ratio.

Dividends

QTJL vs. UPSX - Dividend Comparison

Neither QTJL nor UPSX has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both QTJL and UPSX in my portfolio?

QTJL and UPSX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QTJL or UPSX?

UPSX has higher volatility (28.31%) compared to QTJL (6.50%). In terms of maximum drawdown, QTJL dropped -33.40% vs UPSX's -95.03%.

Which ETF is better, QTJL or UPSX?

On 1-year performance, QTJL leads with 13.57% vs -93.09% for UPSX. On fees, QTJL is cheaper at 0.79% per year. On volatility, QTJL has been the lower-risk option at 6.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QTJL or UPSX?

Over the 1-year period, QTJL has performed better with a 13.57% return vs -93.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QTJL or UPSX?

QTJL is cheaper with a 0.79% expense ratio, compared with 1.30% for UPSX.

Which ETF pays a higher dividend yield, QTJL or UPSX?

QTJL and UPSX have nearly identical dividend yields, around 0.00%.

What is the main difference between QTJL and UPSX?

They also come from different issuers: Innovator and Tradr. Their fees differ too: 0.79% for QTJL and 1.30% for UPSX.

Which has better risk-adjusted returns?

QTJL currently has the higher Sharpe Ratio (1.16 vs -0.67), 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.