SMMU vs. XDQQ
SMMU (PIMCO Short Term Municipal Bond Active ETF) and XDQQ (Innovator Growth Accelerated ETF - Quarterly) are both exchange-traded funds - SMMU is a Municipal Bonds fund actively managed by PIMCO, while XDQQ is a Leveraged Equities fund actively managed by Innovator. Both are actively managed. Over the past 5 years, SMMU returned 1.90%/yr vs 8.32%/yr for XDQQ. At a 0.13 correlation, their price movements are largely independent. SMMU charges 0.35%/yr vs 0.79%/yr for XDQQ.
Performance
SMMU vs. XDQQ - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SMMU achieves a 1.10% return, which is significantly lower than XDQQ's 2.58% return.
SMMU
- 1D
- 0.07%
- 1M
- 0.31%
- YTD
- 1.10%
- 6M
- 1.36%
- 1Y
- 3.92%
- 3Y*
- 3.67%
- 5Y*
- 1.90%
- 10Y*
- 1.82%
XDQQ
- 1D
- -0.05%
- 1M
- 1.36%
- YTD
- 2.58%
- 6M
- 2.48%
- 1Y
- 17.06%
- 3Y*
- 17.94%
- 5Y*
- 8.32%
- 10Y*
- —
SMMU vs. XDQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SMMU PIMCO Short Term Municipal Bond Active ETF | 1.10% | 4.06% | 2.68% | 4.39% | -2.45% | 0.20% |
XDQQ Innovator Growth Accelerated ETF - Quarterly | 2.58% | 13.75% | 31.47% | 30.15% | -33.74% | 18.29% |
Correlation
The correlation between SMMU and XDQQ is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2021 | 0.13 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SMMU vs. XDQQ — Risk / Return Rank
SMMU
XDQQ
SMMU vs. XDQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Short Term Municipal Bond Active ETF (SMMU) and Innovator Growth Accelerated ETF - Quarterly (XDQQ). 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.
| SMMU | XDQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.60 | ||
| Sortino ratioReturn per unit of downside risk | +4.12 | ||
| Omega ratioGain probability vs. loss probability | 1.90 | 1.26 | +0.65 |
| Calmar ratioReturn relative to maximum drawdown | 5.10 | 1.45 | +3.66 |
| Martin ratioReturn relative to average drawdown | 18.24 | 6.57 | +11.67 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| SMMU | XDQQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.84 | 1.24 | +2.60 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.14 | 0.42 | +0.72 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.67 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.60 | 0.46 | +0.14 |
Drawdowns
SMMU vs. XDQQ - Drawdown Comparison
The maximum SMMU drawdown since its inception was -5.09%, smaller than the maximum XDQQ drawdown of -35.63%. Use the drawdown chart below to compare losses from any high point for SMMU and XDQQ.
Loading charts...
Drawdown Indicators
| SMMU | XDQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.09% | -35.63% | +30.54% |
Max Drawdown (1Y)Largest decline over 1 year | -0.77% | -11.84% | +11.07% |
Max Drawdown (3Y)Largest decline over 3 years | -1.95% | -23.17% | +21.22% |
Max Drawdown (5Y)Largest decline over 5 years | -4.76% | -35.63% | +30.87% |
Max Drawdown (10Y)Largest decline over 10 years | -5.09% | — | — |
Current DrawdownCurrent decline from peak | -0.03% | -0.05% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -0.55% | -10.84% | +10.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.22% | 2.60% | -2.38% |
Volatility
SMMU vs. XDQQ - Volatility Comparison
The current volatility for PIMCO Short Term Municipal Bond Active ETF (SMMU) is 0.31%, while Innovator Growth Accelerated ETF - Quarterly (XDQQ) has a volatility of 0.40%. This indicates that SMMU experiences smaller price fluctuations and is considered to be less risky than XDQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SMMU | XDQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.31% | 0.40% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 0.79% | 11.13% | -10.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.02% | 13.81% | -12.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.67% | 19.81% | -18.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.73% | 19.66% | -16.93% |
SMMU vs. XDQQ - Expense Ratio Comparison
SMMU has a 0.35% expense ratio, which is lower than XDQQ's 0.79% expense ratio.
Dividends
SMMU vs. XDQQ - Dividend Comparison
SMMU's dividend yield for the trailing twelve months is around 2.84%, while XDQQ has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMMU PIMCO Short Term Municipal Bond Active ETF | 2.84% | 2.80% | 3.03% | 2.79% | 1.37% | 0.60% | 1.19% | 1.82% | 1.57% | 1.41% | 1.03% | 0.89% |
XDQQ Innovator Growth Accelerated ETF - Quarterly | 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
SMMU and XDQQ have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XDQQ has higher volatility (0.40%) compared to SMMU (0.31%). In terms of maximum drawdown, SMMU dropped -5.09% vs XDQQ's -35.63%.
On 5-year performance, XDQQ leads with 8.32% vs 1.90% for SMMU. On fees, SMMU is cheaper at 0.35% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, XDQQ has performed better with a 8.32% return vs 1.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SMMU is cheaper with a 0.35% expense ratio, compared with 0.79% for XDQQ.
SMMU has the higher dividend yield at 2.84%, compared with 0.00% for XDQQ.
SMMU is categorized as Municipal Bonds, while XDQQ is Leveraged Equities. They also come from different issuers: PIMCO and Innovator. Their fees differ too: 0.35% for SMMU and 0.79% for XDQQ.
SMMU currently has the higher Sharpe Ratio (3.84 vs 1.24), 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.
Find the right allocation for SMMU and XDQQ
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer