SIJ vs. QTAP
SIJ (ProShares UltraShort Industrials) and QTAP (Innovator Growth Accelerated Plus ETF - April) are both Leveraged Equities funds. SIJ is passively managed, while QTAP is actively managed. Over the past 5 years, SIJ returned -19.80%/yr vs 12.65%/yr for QTAP. At a correlation of -0.66, they often move in opposite directions. SIJ charges 0.95%/yr vs 0.79%/yr for QTAP.
Performance
SIJ vs. QTAP - Performance Comparison
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Returns By Period
In the year-to-date period, SIJ achieves a -28.55% return, which is significantly lower than QTAP's 14.55% return.
SIJ
- 1D
- -1.30%
- 1M
- -6.93%
- 6M
- -21.99%
- YTD
- -28.55%
- 1Y
- -32.13%
- 3Y*
- -28.25%
- 5Y*
- -19.80%
- 10Y*
- -27.81%
QTAP
- 1D
- 0.24%
- 1M
- 0.85%
- 6M
- 14.07%
- YTD
- 14.55%
- 1Y
- 21.57%
- 3Y*
- 19.87%
- 5Y*
- 12.65%
- 10Y*
- —
SIJ vs. QTAP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SIJ ProShares UltraShort Industrials | -28.55% | -29.33% | -21.63% | -24.18% | 18.15% | -19.51% |
QTAP Innovator Growth Accelerated Plus ETF - April | 14.55% | 19.36% | 17.34% | 43.32% | -25.87% | 15.95% |
Correlation
The correlation between SIJ and QTAP is -0.45, 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 | -0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.66 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 2021 | -0.66 |
Over the past year, the inverse relationship between SIJ and QTAP has weakened: their correlation has moved from -0.66 to -0.45, meaning they move in opposite directions less often than they have historically.
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Return for Risk
SIJ vs. QTAP — Risk / Return Rank
SIJ
QTAP
SIJ vs. QTAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Industrials (SIJ) 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.
| SIJ | QTAP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.43 | ||
| Sortino ratioReturn per unit of downside risk | -6.96 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.87 | -1.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.85 | 8.66 | -9.50 |
| Martin ratioReturn relative to average drawdown | -1.64 | 44.80 | -46.44 |
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Drawdowns
SIJ vs. QTAP - Drawdown Comparison
The maximum SIJ drawdown since its inception was -99.93%, which is greater than QTAP's maximum drawdown of -29.44%. Use the drawdown chart below to compare losses from any high point for SIJ and QTAP.
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Drawdown Indicators
| SIJ | QTAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.93% | -29.44% | -70.49% |
Max Drawdown (1Y)Largest decline over 1 year | -37.53% | -2.49% | -35.04% |
Max Drawdown (3Y)Largest decline over 3 years | -72.61% | -13.03% | -59.58% |
Max Drawdown (5Y)Largest decline over 5 years | -78.65% | -29.44% | -49.21% |
Max Drawdown (10Y)Largest decline over 10 years | -96.42% | — | — |
Current DrawdownCurrent decline from peak | -99.93% | -0.20% | -99.73% |
Average DrawdownAverage peak-to-trough decline | -86.79% | -4.96% | -81.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.35% | 0.48% | +18.87% |
Volatility
SIJ vs. QTAP - Volatility Comparison
ProShares UltraShort Industrials (SIJ) has a higher volatility of 13.89% compared to Innovator Growth Accelerated Plus ETF - April (QTAP) at 2.90%. This indicates that SIJ'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
| SIJ | QTAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.89% | 2.90% | +10.99% |
Volatility (6M)Calculated over the trailing 6-month period | 28.40% | 5.16% | +23.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.95% | 6.17% | +27.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.22% | 18.92% | +17.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.65% | 18.64% | +21.01% |
SIJ vs. QTAP - Expense Ratio Comparison
SIJ has a 0.95% expense ratio, which is higher than QTAP's 0.79% expense ratio.
Dividends
SIJ vs. QTAP - Dividend Comparison
SIJ's dividend yield for the trailing twelve months is around 4.93%, 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% |
SIJ ProShares UltraShort Industrials | 4.93% | 5.38% | 5.99% | 4.90% | 0.00% | 0.00% | 0.00% | 1.49% | 0.39% |
Frequently Asked Questions
SIJ and QTAP have a correlation of -0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SIJ has higher volatility (13.89%) compared to QTAP (2.90%). In terms of maximum drawdown, SIJ dropped -99.93% vs QTAP's -29.44%.
On 5-year performance, QTAP leads with 12.65% vs -19.80% for SIJ. On fees, QTAP is cheaper at 0.79% per year. On volatility, QTAP has been the lower-risk option at 2.90%. 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 12.65% return vs -19.80%. 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 SIJ.
SIJ has the higher dividend yield at 4.93%, compared with 0.00% for QTAP.
They also come from different issuers: ProShares and Innovator. Their fees differ too: 0.95% for SIJ and 0.79% for QTAP.
QTAP currently has the higher Sharpe Ratio (3.50 vs -0.94), 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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