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 -18.51%/yr vs 13.78%/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 -21.28% return, which is significantly lower than QTAP's 14.67% return.
SIJ
- 1D
- -0.08%
- 1M
- -3.55%
- YTD
- -21.28%
- 6M
- -22.55%
- 1Y
- -31.23%
- 3Y*
- -29.54%
- 5Y*
- -18.51%
- 10Y*
- -27.77%
QTAP
- 1D
- -0.10%
- 1M
- 2.89%
- YTD
- 14.67%
- 6M
- 15.56%
- 1Y
- 25.59%
- 3Y*
- 21.18%
- 5Y*
- 13.78%
- 10Y*
- —
SIJ vs. QTAP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SIJ ProShares UltraShort Industrials | -21.28% | -29.33% | -21.63% | -24.18% | 18.15% | -18.57% |
QTAP Innovator Growth Accelerated Plus ETF - April | 14.67% | 19.36% | 17.34% | 43.32% | -25.87% | 15.63% |
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 | -0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.65 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 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.
| SIJ | QTAP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.62 | ||
| Sortino ratioReturn per unit of downside risk | -9.86 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 2.23 | -1.38 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | 15.20 | -16.08 |
| Martin ratioReturn relative to average drawdown | -1.50 | 80.04 | -81.55 |
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
| SIJ | QTAP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.00 | 4.62 | -5.62 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.52 | 0.73 | -1.25 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.70 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.63 | 0.75 | -1.38 |
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 | -35.40% | -1.69% | -33.71% |
Max Drawdown (3Y)Largest decline over 3 years | -69.84% | -13.03% | -56.81% |
Max Drawdown (5Y)Largest decline over 5 years | -76.49% | -29.44% | -47.05% |
Max Drawdown (10Y)Largest decline over 10 years | -96.54% | — | — |
Current DrawdownCurrent decline from peak | -99.92% | -0.10% | -99.82% |
Average DrawdownAverage peak-to-trough decline | -86.74% | -5.04% | -81.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.81% | 0.32% | +20.49% |
Volatility
SIJ vs. QTAP - Volatility Comparison
ProShares UltraShort Industrials (SIJ) has a higher volatility of 10.18% compared to Innovator Growth Accelerated Plus ETF - April (QTAP) at 1.33%. 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 | 10.18% | 1.33% | +8.85% |
Volatility (6M)Calculated over the trailing 6-month period | 26.39% | 3.97% | +22.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.52% | 5.56% | +25.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.84% | 18.89% | +16.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.62% | 18.77% | +20.85% |
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 5.75%, 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 | 5.75% | 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 (10.18%) compared to QTAP (1.33%). In terms of maximum drawdown, SIJ dropped -99.93% vs QTAP's -29.44%.
On 5-year performance, QTAP leads with 13.78% vs -18.51% for SIJ. On fees, QTAP is cheaper at 0.79% per year. On volatility, QTAP has been the lower-risk option at 1.33%. 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 13.78% return vs -18.51%. 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 5.75%, 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 (4.62 vs -1.00), 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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