SNAG vs. XTAP
SNAG (Leverage Shares 2X Long SNAP Daily ETF) and XTAP (Innovator U.S. Equity Accelerated Plus ETF) are both Leveraged Equities funds. SNAG is passively managed, while XTAP is actively managed. A 0.53 correlation means they provide meaningful diversification when combined. SNAG charges 0.75%/yr vs 0.79%/yr for XTAP.
Performance
SNAG vs. XTAP - Performance Comparison
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Returns By Period
In the year-to-date period, SNAG achieves a -54.52% return, which is significantly lower than XTAP's 11.13% return.
SNAG
- 1D
- 10.73%
- 1M
- -4.21%
- YTD
- -54.52%
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XTAP
- 1D
- 0.15%
- 1M
- 2.02%
- YTD
- 11.13%
- 6M
- 12.15%
- 1Y
- 21.20%
- 3Y*
- 18.01%
- 5Y*
- 11.02%
- 10Y*
- —
SNAG vs. XTAP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SNAG Leverage Shares 2X Long SNAP Daily ETF | -54.52% | 11.30% |
XTAP Innovator U.S. Equity Accelerated Plus ETF | 11.13% | 0.63% |
Correlation
The correlation between SNAG and XTAP is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 19, 2025 | 0.53 |
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Return for Risk
SNAG vs. XTAP — Risk / Return Rank
SNAG
XTAP
SNAG vs. XTAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long SNAP Daily ETF (SNAG) 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| SNAG | XTAP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 4.55 | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.76 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.66 | 0.80 | -1.46 |
Drawdowns
SNAG vs. XTAP - Drawdown Comparison
The maximum SNAG drawdown since its inception was -81.94%, which is greater than XTAP's maximum drawdown of -22.13%. Use the drawdown chart below to compare losses from any high point for SNAG and XTAP.
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Drawdown Indicators
| SNAG | XTAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.94% | -22.13% | -59.81% |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.42% | — |
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 | -61.45% | -0.06% | -61.39% |
Average DrawdownAverage peak-to-trough decline | -54.49% | -3.45% | -51.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.27% | — |
Volatility
SNAG vs. XTAP - Volatility Comparison
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Volatility by Period
| SNAG | XTAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.04% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 3.16% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 119.01% | 4.68% | +114.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 119.01% | 14.54% | +104.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 119.01% | 14.40% | +104.61% |
SNAG vs. XTAP - Expense Ratio Comparison
SNAG has a 0.75% expense ratio, which is lower than XTAP's 0.79% expense ratio.
Dividends
SNAG vs. XTAP - Dividend Comparison
Neither SNAG nor XTAP has paid dividends to shareholders.
Frequently Asked Questions
SNAG and XTAP have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SNAG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SNAG is cheaper with a 0.75% expense ratio, compared with 0.79% for XTAP.
SNAG and XTAP have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Leverage Shares and Innovator. Their fees differ too: 0.75% for SNAG and 0.79% for XTAP.
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