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 -7.55%/yr vs 12.76%/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 -1.40% return, which is significantly lower than QTAP's 13.22% return.
RXD
- 1D
- -3.08%
- 1M
- -9.66%
- YTD
- -1.40%
- 6M
- 0.04%
- 1Y
- -25.85%
- 3Y*
- -8.16%
- 5Y*
- -7.55%
- 10Y*
- -20.50%
QTAP
- 1D
- 0.41%
- 1M
- -1.07%
- YTD
- 13.22%
- 6M
- 13.12%
- 1Y
- 21.83%
- 3Y*
- 20.17%
- 5Y*
- 12.76%
- 10Y*
- —
RXD vs. QTAP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
RXD ProShares UltraShort Health Care | -1.40% | -21.66% | 4.83% | 3.25% | 1.20% | -32.90% |
QTAP Innovator Growth Accelerated Plus ETF - April | 13.22% | 19.36% | 17.34% | 43.32% | -25.87% | 15.95% |
Correlation
The correlation between RXD and QTAP is -0.16, 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 | -0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.46 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 2021 | -0.47 |
Over the past year, the inverse relationship between RXD and QTAP has weakened: their correlation has moved from -0.47 to -0.16, 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.
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.
| RXD | QTAP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.48 | ||
| Sortino ratioReturn per unit of downside risk | -6.95 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.91 | -1.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | 8.80 | -9.55 |
| Martin ratioReturn relative to average drawdown | -1.12 | 48.87 | -49.99 |
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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% | -2.49% | -32.14% |
Max Drawdown (3Y)Largest decline over 3 years | -36.60% | -13.03% | -23.57% |
Max Drawdown (5Y)Largest decline over 5 years | -40.50% | -29.44% | -11.06% |
Max Drawdown (10Y)Largest decline over 10 years | -90.64% | — | — |
Current DrawdownCurrent decline from peak | -99.63% | -1.36% | -98.27% |
Average DrawdownAverage peak-to-trough decline | -81.91% | -4.99% | -76.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.10% | 0.45% | +22.65% |
Volatility
RXD vs. QTAP - Volatility Comparison
ProShares UltraShort Health Care (RXD) has a higher volatility of 10.55% compared to Innovator Growth Accelerated Plus ETF - April (QTAP) at 3.01%. 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 | 10.55% | 3.01% | +7.54% |
Volatility (6M)Calculated over the trailing 6-month period | 21.92% | 4.94% | +16.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.33% | 6.05% | +24.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.91% | 18.92% | +10.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.01% | 18.70% | +14.31% |
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 3.01%, 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 | 3.01% | 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 -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RXD has higher volatility (10.55%) compared to QTAP (3.01%). In terms of maximum drawdown, RXD dropped -99.65% vs QTAP's -29.44%.
On 5-year performance, QTAP leads with 12.76% vs -7.55% for RXD. On fees, QTAP is cheaper at 0.79% 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.
Over the 5-year period, QTAP has performed better with a 12.76% return vs -7.55%. 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 3.01%, 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 (3.62 vs -0.86), 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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