SPUU vs. QTAP
Compare and contrast key facts about Direxion Daily S&P 500 Bull 2x Shares (SPUU) and Innovator Growth Accelerated Plus ETF - April (QTAP).
SPUU and QTAP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPUU is a passively managed fund by Direxion that tracks the performance of the S&P 500 Index (200%). It was launched on May 28, 2014. QTAP is an actively managed fund by Innovator. It was launched on Apr 1, 2021.
Performance
SPUU vs. QTAP - Performance Comparison
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SPUU vs. QTAP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SPUU Direxion Daily S&P 500 Bull 2x Shares | -10.01% | 26.55% | 44.25% | 47.28% | -38.72% | 40.83% |
QTAP Innovator Growth Accelerated Plus ETF - April | 1.26% | 19.36% | 17.34% | 43.32% | -25.87% | 15.63% |
Returns By Period
In the year-to-date period, SPUU achieves a -10.01% return, which is significantly lower than QTAP's 1.26% return.
SPUU
- 1D
- 5.86%
- 1M
- -10.17%
- YTD
- -10.01%
- 6M
- -6.87%
- 1Y
- 27.13%
- 3Y*
- 28.85%
- 5Y*
- 15.86%
- 10Y*
- 21.67%
QTAP
- 1D
- -0.51%
- 1M
- 0.09%
- YTD
- 1.26%
- 6M
- 3.74%
- 1Y
- 19.73%
- 3Y*
- 18.89%
- 5Y*
- —
- 10Y*
- —
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SPUU vs. QTAP - Expense Ratio Comparison
SPUU has a 0.64% expense ratio, which is lower than QTAP's 0.79% expense ratio.
Return for Risk
SPUU vs. QTAP — Risk / Return Rank
SPUU
QTAP
SPUU vs. QTAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily S&P 500 Bull 2x Shares (SPUU) and Innovator Growth Accelerated Plus ETF - April (QTAP). 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.
| SPUU | QTAP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.75 | 1.22 | -0.46 |
Sortino ratioReturn per unit of downside risk | 1.26 | 1.94 | -0.68 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.48 | -0.29 |
Calmar ratioReturn relative to maximum drawdown | 1.24 | 1.73 | -0.49 |
Martin ratioReturn relative to average drawdown | 5.35 | 12.34 | -6.98 |
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
| SPUU | QTAP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.75 | 1.22 | -0.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.48 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.61 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.62 | -0.06 |
Correlation
The correlation between SPUU and QTAP is 0.88, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
SPUU vs. QTAP - Dividend Comparison
SPUU's dividend yield for the trailing twelve months is around 1.78%, while QTAP has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPUU Direxion Daily S&P 500 Bull 2x Shares | 1.78% | 1.63% | 0.55% | 0.83% | 0.88% | 3.04% | 8.03% | 1.80% | 5.50% | 6.96% | 8.08% | 4.42% |
QTAP Innovator Growth Accelerated Plus ETF - April | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
SPUU vs. QTAP - Drawdown Comparison
The maximum SPUU drawdown since its inception was -59.35%, which is greater than QTAP's maximum drawdown of -29.44%. Use the drawdown chart below to compare losses from any high point for SPUU and QTAP.
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Drawdown Indicators
| SPUU | QTAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.35% | -29.44% | -29.91% |
Max Drawdown (1Y)Largest decline over 1 year | -23.10% | -12.04% | -11.06% |
Max Drawdown (5Y)Largest decline over 5 years | -46.59% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -59.35% | — | — |
Current DrawdownCurrent decline from peak | -13.39% | -0.51% | -12.88% |
Average DrawdownAverage peak-to-trough decline | -9.62% | -5.21% | -4.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.35% | 1.68% | +3.67% |
Volatility
SPUU vs. QTAP - Volatility Comparison
Direxion Daily S&P 500 Bull 2x Shares (SPUU) has a higher volatility of 10.70% compared to Innovator Growth Accelerated Plus ETF - April (QTAP) at 0.76%. This indicates that SPUU's price experiences larger fluctuations and is considered to be riskier than QTAP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPUU | QTAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.70% | 0.76% | +9.94% |
Volatility (6M)Calculated over the trailing 6-month period | 19.17% | 2.75% | +16.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.23% | 16.31% | +19.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.47% | 19.02% | +14.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.73% | 19.02% | +16.71% |