SMN vs. QTJL
SMN (ProShares UltraShort Basic Materials) and QTJL (Innovator Growth Accelerated Plus ETF - July) are both Leveraged Equities funds. SMN is passively managed, while QTJL is actively managed. Over the past 3 years, SMN returned -17.26%/yr vs 19.20%/yr for QTJL. At a correlation of -0.55, they often move in opposite directions. SMN charges 0.95%/yr vs 0.79%/yr for QTJL.
Performance
SMN vs. QTJL - Performance Comparison
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Returns By Period
In the year-to-date period, SMN achieves a -23.85% return, which is significantly lower than QTJL's 7.15% return.
SMN
- 1D
- -0.81%
- 1M
- -4.18%
- YTD
- -23.85%
- 6M
- -27.24%
- 1Y
- -28.88%
- 3Y*
- -17.26%
- 5Y*
- -14.35%
- 10Y*
- -25.09%
QTJL
- 1D
- -0.01%
- 1M
- 1.20%
- YTD
- 7.15%
- 6M
- 7.91%
- 1Y
- 20.52%
- 3Y*
- 19.20%
- 5Y*
- —
- 10Y*
- —
SMN vs. QTJL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SMN ProShares UltraShort Basic Materials | -23.85% | -17.96% | 7.37% | -20.23% | -3.03% | -20.89% |
QTJL Innovator Growth Accelerated Plus ETF - July | 7.15% | 21.07% | 16.50% | 42.39% | -30.16% | 9.32% |
Correlation
The correlation between SMN and QTJL is -0.38, 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 | -0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.45 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2021 | -0.55 |
The correlation between SMN and QTJL shifts across timeframes, from -0.55 (all time) to -0.38 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SMN vs. QTJL — Risk / Return Rank
SMN
QTJL
SMN vs. QTJL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Basic Materials (SMN) and Innovator Growth Accelerated Plus ETF - July (QTJL). 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.
| SMN | QTJL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.92 | ||
| Sortino ratioReturn per unit of downside risk | -4.07 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.42 | -0.54 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | 3.08 | -3.84 |
| Martin ratioReturn relative to average drawdown | -1.36 | 16.23 | -17.59 |
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
| SMN | QTJL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.86 | 2.06 | -2.92 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.36 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.59 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.54 | 0.52 | -1.06 |
Drawdowns
SMN vs. QTJL - Drawdown Comparison
The maximum SMN drawdown since its inception was -99.92%, which is greater than QTJL's maximum drawdown of -33.40%. Use the drawdown chart below to compare losses from any high point for SMN and QTJL.
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Drawdown Indicators
| SMN | QTJL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.92% | -33.40% | -66.52% |
Max Drawdown (1Y)Largest decline over 1 year | -38.52% | -6.68% | -31.84% |
Max Drawdown (3Y)Largest decline over 3 years | -53.71% | -22.43% | -31.28% |
Max Drawdown (5Y)Largest decline over 5 years | -66.05% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -95.39% | — | — |
Current DrawdownCurrent decline from peak | -99.91% | -0.01% | -99.90% |
Average DrawdownAverage peak-to-trough decline | -90.55% | -7.94% | -82.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.25% | 1.27% | +19.98% |
Volatility
SMN vs. QTJL - Volatility Comparison
ProShares UltraShort Basic Materials (SMN) has a higher volatility of 11.58% compared to Innovator Growth Accelerated Plus ETF - July (QTJL) at 0.31%. This indicates that SMN's price experiences larger fluctuations and is considered to be riskier than QTJL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMN | QTJL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.58% | 0.31% | +11.27% |
Volatility (6M)Calculated over the trailing 6-month period | 26.63% | 7.61% | +19.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.89% | 10.01% | +23.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.54% | 20.42% | +19.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.90% | 20.42% | +22.48% |
SMN vs. QTJL - Expense Ratio Comparison
SMN has a 0.95% expense ratio, which is higher than QTJL's 0.79% expense ratio.
Dividends
SMN vs. QTJL - Dividend Comparison
SMN's dividend yield for the trailing twelve months is around 4.62%, while QTJL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
QTJL Innovator Growth Accelerated Plus ETF - July | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SMN ProShares UltraShort Basic Materials | 4.62% | 4.08% | 5.02% | 4.54% | 0.42% | 0.00% | 0.00% | 0.72% | 0.06% |
Frequently Asked Questions
SMN and QTJL have a correlation of -0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMN has higher volatility (11.58%) compared to QTJL (0.31%). In terms of maximum drawdown, SMN dropped -99.92% vs QTJL's -33.40%.
On 3-year performance, QTJL leads with 19.20% vs -17.26% for SMN. On fees, QTJL is cheaper at 0.79% per year. On volatility, QTJL has been the lower-risk option at 0.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, QTJL has performed better with a 19.20% return vs -17.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QTJL is cheaper with a 0.79% expense ratio, compared with 0.95% for SMN.
SMN has the higher dividend yield at 4.62%, compared with 0.00% for QTJL.
They also come from different issuers: ProShares and Innovator. Their fees differ too: 0.95% for SMN and 0.79% for QTJL.
QTJL currently has the higher Sharpe Ratio (2.06 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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