RXD vs. QTAP
RXD (ProShares UltraShort Health Care) and QTAP (Innovator Growth Accelerated Plus ETF - April) are both Leveraged Equities funds. RXD is passively managed, while QTAP is actively managed. Over the past 5 years, RXD returned -7.99%/yr vs 13.77%/yr for QTAP. At a correlation of -0.47, they often move in opposite directions. RXD charges 0.95%/yr vs 0.79%/yr for QTAP.
Performance
RXD vs. QTAP - Performance Comparison
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Returns By Period
In the year-to-date period, RXD achieves a 4.25% return, which is significantly lower than QTAP's 14.58% return.
RXD
- 1D
- -5.76%
- 1M
- -8.56%
- YTD
- 4.25%
- 6M
- 2.28%
- 1Y
- -22.97%
- 3Y*
- -6.72%
- 5Y*
- -7.99%
- 10Y*
- -19.08%
QTAP
- 1D
- -0.08%
- 1M
- 2.33%
- YTD
- 14.58%
- 6M
- 15.43%
- 1Y
- 25.33%
- 3Y*
- 21.09%
- 5Y*
- 13.77%
- 10Y*
- —
RXD vs. QTAP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
RXD ProShares UltraShort Health Care | 4.25% | -21.66% | 4.83% | 3.25% | 1.20% | -33.30% |
QTAP Innovator Growth Accelerated Plus ETF - April | 14.58% | 19.36% | 17.34% | 43.32% | -25.87% | 15.63% |
Correlation
The correlation between RXD and QTAP is -0.22, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.47 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2021 | -0.48 |
Over the past year, the inverse relationship between RXD and QTAP has weakened: their correlation has moved from -0.47 to -0.22, meaning they move in opposite directions less often than they have historically.
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Return for Risk
RXD vs. QTAP — Risk / Return Rank
RXD
QTAP
RXD vs. QTAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Health Care (RXD) and Innovator Growth Accelerated Plus ETF - April (QTAP). 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.
| RXD | QTAP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.34 | ||
| Sortino ratioReturn per unit of downside risk | -9.34 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 2.21 | -1.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.67 | 15.04 | -15.71 |
| Martin ratioReturn relative to average drawdown | -1.04 | 79.40 | -80.44 |
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
| RXD | QTAP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.77 | 4.57 | -5.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.27 | 0.73 | -1.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.58 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.65 | 0.75 | -1.40 |
Drawdowns
RXD vs. QTAP - Drawdown Comparison
The maximum RXD drawdown since its inception was -99.65%, which is greater than QTAP's maximum drawdown of -29.44%. Use the drawdown chart below to compare losses from any high point for RXD and QTAP.
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Drawdown Indicators
| RXD | QTAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.65% | -29.44% | -70.21% |
Max Drawdown (1Y)Largest decline over 1 year | -34.63% | -1.69% | -32.94% |
Max Drawdown (3Y)Largest decline over 3 years | -36.60% | -13.03% | -23.57% |
Max Drawdown (5Y)Largest decline over 5 years | -40.53% | -29.44% | -11.09% |
Max Drawdown (10Y)Largest decline over 10 years | -90.64% | — | — |
Current DrawdownCurrent decline from peak | -99.61% | -0.18% | -99.43% |
Average DrawdownAverage peak-to-trough decline | -81.88% | -5.03% | -76.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.14% | 0.32% | +21.82% |
Volatility
RXD vs. QTAP - Volatility Comparison
ProShares UltraShort Health Care (RXD) has a higher volatility of 10.19% compared to Innovator Growth Accelerated Plus ETF - April (QTAP) at 1.30%. This indicates that RXD's price experiences larger fluctuations and is considered to be riskier than QTAP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RXD | QTAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.19% | 1.30% | +8.89% |
Volatility (6M)Calculated over the trailing 6-month period | 21.87% | 3.98% | +17.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.03% | 5.56% | +24.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.85% | 18.88% | +10.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.00% | 18.77% | +14.23% |
RXD vs. QTAP - Expense Ratio Comparison
RXD has a 0.95% expense ratio, which is higher than QTAP's 0.79% expense ratio.
Dividends
RXD vs. QTAP - Dividend Comparison
RXD's dividend yield for the trailing twelve months is around 2.69%, while QTAP has not paid dividends to shareholders.
| 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% |
RXD ProShares UltraShort Health Care | 2.69% | 3.29% | 4.36% | 3.17% | 0.67% | 0.00% | 0.17% | 1.73% | 0.22% |
Frequently Asked Questions
RXD and QTAP have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RXD has higher volatility (10.19%) compared to QTAP (1.30%). In terms of maximum drawdown, RXD dropped -99.65% vs QTAP's -29.44%.
On 5-year performance, QTAP leads with 13.77% vs -7.99% for RXD. On fees, QTAP is cheaper at 0.79% 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.
Over the 5-year period, QTAP has performed better with a 13.77% return vs -7.99%. 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 RXD.
RXD has the higher dividend yield at 2.69%, compared with 0.00% for QTAP.
They also come from different issuers: ProShares and Innovator. Their fees differ too: 0.95% for RXD and 0.79% for QTAP.
QTAP currently has the higher Sharpe Ratio (4.57 vs -0.77), 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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