RXL vs. XDSQ

Last updated Jun 24, 2026

RXL (ProShares Ultra Health Care) and XDSQ (Innovator US Equity Accelerated ETF) are both Leveraged Equities funds. RXL is passively managed, while XDSQ is actively managed. Over the past 5 years, RXL returned 1.95%/yr vs 9.68%/yr for XDSQ. A 0.57 correlation means they provide meaningful diversification when combined. RXL charges 0.95%/yr vs 0.79%/yr for XDSQ.

Performance

RXL vs. XDSQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Health Care (RXL) and Innovator US Equity Accelerated ETF (XDSQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RXL achieves a -5.37% return, which is significantly lower than XDSQ's 3.05% return.

RXL

• 1D: 2.50%
• 1M: 3.01%
• YTD: -5.37%
• 6M: -5.67%
• 1Y: 26.56%
• 3Y*: 4.63%
• 5Y*: 1.95%
• 10Y*: 13.05%

XDSQ

• 1D: -0.03%
• 1M: 0.63%
• YTD: 3.05%
• 6M: 2.05%
• 1Y: 15.05%
• 3Y*: 14.47%
• 5Y*: 9.68%
• 10Y*: —

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

RXL vs. XDSQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
RXL ProShares Ultra Health Care	-5.37%	19.76%	-2.72%	-3.15%	-15.26%	40.45%
XDSQ Innovator US Equity Accelerated ETF	3.05%	14.22%	23.12%	23.00%	-16.78%	13.28%

Correlation

The correlation between RXL and XDSQ is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (All Time) Calculated using the full available price history since Apr 1, 2021	0.57

Over the past year, the correlation between RXL and XDSQ has dropped to 0.34 - well below their long-term average of 0.57, suggesting their price drivers have been diverging.

RXL vs. XDSQ - Sectors Allocation Comparison

Sectors	RXL	XDSQ
Healthcare	77.2%	8.3%
Financial Services	12.2%	10.9%
Basic Materials	-	1.7%
Communication Services	-	10.7%
Consumer Cyclical	-	9.9%
Consumer Defensive	-	4.5%
Energy	-	3.1%
Industrials	-	7.8%
Real Estate	-	1.8%
Technology	-	39.1%
Utilities	-	2.1%

Return for Risk

RXL vs. XDSQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

RXL

RXL Risk / Return Rank: 26
RXL Sharpe Ratio Rank: 26
RXL Sortino Ratio Rank: 28
RXL Omega Ratio Rank: 24
RXL Calmar Ratio Rank: 27
RXL Martin Ratio Rank: 24

XDSQ

XDSQ Risk / Return Rank: 43
XDSQ Sharpe Ratio Rank: 43
XDSQ Sortino Ratio Rank: 41
XDSQ Omega Ratio Rank: 51
XDSQ Calmar Ratio Rank: 34
XDSQ Martin Ratio Rank: 47

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.

RXL vs. XDSQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Health Care (RXL) and Innovator US Equity Accelerated ETF (XDSQ). 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.

	RXL	XDSQ	Difference
Sharpe ratio: Return per unit of total volatility	0.88	1.44	-0.56
Sortino ratio: Return per unit of downside risk	1.47	1.99	-0.52
Omega ratio: Gain probability vs. loss probability	1.16	1.30	-0.14
Calmar ratio: Return relative to maximum drawdown	1.25	1.58	-0.32
Martin ratio: Return relative to average drawdown	2.85	7.51	-4.66

RXL vs. XDSQ - Sharpe Ratio Comparison

The current RXL Sharpe Ratio is 0.88, which is lower than the XDSQ Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of RXL and XDSQ, 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

RXL vs. XDSQ - Drawdown Comparison

The maximum RXL drawdown since its inception was -67.70%, which is greater than XDSQ's maximum drawdown of -26.06%. Use the drawdown chart below to compare losses from any high point for RXL and XDSQ.

Drawdown Indicators

	RXL	XDSQ	Difference
Max Drawdown Largest peak-to-trough decline	-67.70%	-26.06%	-41.64%
Max Drawdown (1Y) Largest decline over 1 year	-21.33%	-9.60%	-11.73%
Max Drawdown (3Y) Largest decline over 3 years	-36.08%	-19.15%	-16.93%
Max Drawdown (5Y) Largest decline over 5 years	-36.08%	-26.06%	-10.02%
Max Drawdown (10Y) Largest decline over 10 years	-51.00%	—	—
Current Drawdown Current decline from peak	-14.00%	-0.03%	-13.97%
Average Drawdown Average peak-to-trough decline	-15.85%	-4.91%	-10.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.33%	2.01%	+7.32%

Volatility

RXL vs. XDSQ - Volatility Comparison

ProShares Ultra Health Care (RXL) has a higher volatility of 10.70% compared to Innovator US Equity Accelerated ETF (XDSQ) at 0.62%. This indicates that RXL's price experiences larger fluctuations and is considered to be riskier than XDSQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RXL	XDSQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.70%	0.62%	+10.08%
Volatility (6M) Calculated over the trailing 6-month period	21.46%	8.09%	+13.37%
Volatility (1Y) Calculated over the trailing 1-year period	30.42%	10.50%	+19.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.76%	15.28%	+14.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.28%	15.02%	+18.26%

RXL vs. XDSQ - Expense Ratio Comparison

RXL has a 0.95% expense ratio, which is higher than XDSQ's 0.79% expense ratio.

Dividends

RXL vs. XDSQ - Dividend Comparison

RXL's dividend yield for the trailing twelve months is around 1.54%, while XDSQ has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RXL ProShares Ultra Health Care	1.54%	1.43%	1.22%	0.18%	0.32%	0.10%	0.15%	0.27%	0.32%	0.11%	0.12%	0.93%
XDSQ Innovator US Equity Accelerated ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RXL and XDSQ in my portfolio?

RXL and XDSQ have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RXL or XDSQ?

RXL has higher volatility (10.70%) compared to XDSQ (0.62%). In terms of maximum drawdown, RXL dropped -67.70% vs XDSQ's -26.06%.

Which ETF is better, RXL or XDSQ?

On 5-year performance, XDSQ leads with 9.68% vs 1.95% for RXL. On fees, XDSQ is cheaper at 0.79% per year. On volatility, XDSQ has been the lower-risk option at 0.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RXL or XDSQ?

Over the 5-year period, XDSQ has performed better with a 9.68% return vs 1.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RXL or XDSQ?

XDSQ is cheaper with a 0.79% expense ratio, compared with 0.95% for RXL.

Which ETF pays a higher dividend yield, RXL or XDSQ?

RXL has the higher dividend yield at 1.54%, compared with 0.00% for XDSQ.

What is the main difference between RXL and XDSQ?

They also come from different issuers: ProShares and Innovator. Their fees differ too: 0.95% for RXL and 0.79% for XDSQ.

Which has better risk-adjusted returns?

XDSQ currently has the higher Sharpe Ratio (1.44 vs 0.88), 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.