SOFA vs. XTAP
SOFA (Direxion Daily SOFI Bull 2X ETF) and XTAP (Innovator U.S. Equity Accelerated Plus ETF) are both Leveraged Equities funds. SOFA is passively managed, while XTAP is actively managed. A 0.54 correlation means they provide meaningful diversification when combined. SOFA charges 0.97%/yr vs 0.79%/yr for XTAP.
Performance
SOFA vs. XTAP - Performance Comparison
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Returns By Period
SOFA
- 1D
- 5.24%
- 1M
- 10.37%
- YTD
- —
- 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*
- —
SOFA vs. XTAP - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
SOFA Direxion Daily SOFI Bull 2X ETF | -39.84% |
XTAP Innovator U.S. Equity Accelerated Plus ETF | 10.26% |
Correlation
The correlation between SOFA and XTAP is 0.54, 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 Feb 12, 2026 | 0.54 |
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Return for Risk
SOFA vs. XTAP — Risk / Return Rank
SOFA
XTAP
SOFA vs. XTAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily SOFI Bull 2X ETF (SOFA) 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
| SOFA | 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 | -0.75 | 0.80 | -1.56 |
Drawdowns
SOFA vs. XTAP - Drawdown Comparison
The maximum SOFA drawdown since its inception was -51.39%, which is greater than XTAP's maximum drawdown of -22.13%. Use the drawdown chart below to compare losses from any high point for SOFA and XTAP.
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Drawdown Indicators
| SOFA | XTAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.39% | -22.13% | -29.26% |
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 | -39.84% | -0.06% | -39.78% |
Average DrawdownAverage peak-to-trough decline | -32.77% | -3.45% | -29.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.27% | — |
Volatility
SOFA vs. XTAP - Volatility Comparison
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Volatility by Period
| SOFA | 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 | 107.88% | 4.68% | +103.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 107.88% | 14.54% | +93.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 107.88% | 14.40% | +93.48% |
SOFA vs. XTAP - Expense Ratio Comparison
SOFA has a 0.97% expense ratio, which is higher than XTAP's 0.79% expense ratio.
Dividends
SOFA vs. XTAP - Dividend Comparison
SOFA's dividend yield for the trailing twelve months is around 0.37%, while XTAP has not paid dividends to shareholders.
| Position | TTM |
|---|---|
SOFA Direxion Daily SOFI Bull 2X ETF | 0.37% |
XTAP Innovator U.S. Equity Accelerated Plus ETF | 0.00% |
Frequently Asked Questions
SOFA and XTAP have a correlation of 0.54, 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 0.97% for SOFA.
SOFA has the higher dividend yield at 0.37%, compared with 0.00% for XTAP.
They also come from different issuers: Direxion and Innovator. Their fees differ too: 0.97% for SOFA and 0.79% for XTAP.
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