SMU vs. XTAP
SMU (Tradr 2X Long SMR Daily ETF) and XTAP (Innovator U.S. Equity Accelerated Plus ETF) are both Leveraged Equities funds. Both are actively managed. At a 0.42 correlation, their price movements are largely independent. SMU charges 1.30%/yr vs 0.79%/yr for XTAP.
Performance
SMU vs. XTAP - Performance Comparison
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Returns By Period
In the year-to-date period, SMU achieves a -71.44% return, which is significantly lower than XTAP's 10.17% return.
SMU
- 1D
- -11.59%
- 1M
- -28.80%
- YTD
- -71.44%
- 6M
- -78.02%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XTAP
- 1D
- -0.11%
- 1M
- -0.28%
- YTD
- 10.17%
- 6M
- 10.26%
- 1Y
- 18.32%
- 3Y*
- 17.04%
- 5Y*
- 10.58%
- 10Y*
- —
SMU vs. XTAP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SMU Tradr 2X Long SMR Daily ETF | -71.44% | -91.57% |
XTAP Innovator U.S. Equity Accelerated Plus ETF | 10.17% | 5.71% |
Correlation
The correlation between SMU and XTAP is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jul 11, 2025 | 0.42 |
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Return for Risk
SMU vs. XTAP — Risk / Return Rank
SMU
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
XTAP
SMU vs. XTAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long SMR Daily ETF (SMU) and Innovator U.S. Equity Accelerated Plus ETF (XTAP). 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.
| SMU | XTAP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.99 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 10.72 | — |
| Martin ratioReturn relative to average drawdown | — | 57.85 | — |
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Drawdowns
SMU vs. XTAP - Drawdown Comparison
The maximum SMU drawdown since its inception was -98.96%, which is greater than XTAP's maximum drawdown of -22.13%. Use the drawdown chart below to compare losses from any high point for SMU and XTAP.
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Drawdown Indicators
| SMU | XTAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.96% | -22.13% | -76.83% |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.72% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -11.83% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -22.13% | — |
Current DrawdownCurrent decline from peak | -98.79% | -1.02% | -97.77% |
Average DrawdownAverage peak-to-trough decline | -76.89% | -3.42% | -73.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.32% | — |
Volatility
SMU vs. XTAP - Volatility Comparison
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Volatility by Period
| SMU | XTAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 2.04% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 3.72% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 204.38% | 4.80% | +199.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 204.38% | 14.55% | +189.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 204.38% | 14.35% | +190.03% |
SMU vs. XTAP - Expense Ratio Comparison
SMU has a 1.30% expense ratio, which is higher than XTAP's 0.79% expense ratio.
Dividends
SMU vs. XTAP - Dividend Comparison
Neither SMU nor XTAP has paid dividends to shareholders.
Frequently Asked Questions
SMU and XTAP have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XTAP is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XTAP is cheaper with a 0.79% expense ratio, compared with 1.30% for SMU.
SMU and XTAP have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Tradr and Innovator. Their fees differ too: 1.30% for SMU and 0.79% for XTAP.
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