SZK vs. QTAP
SZK (ProShares UltraShort Consumer Goods) and QTAP (Innovator Growth Accelerated Plus ETF - April) are both Leveraged Equities funds. SZK is passively managed, while QTAP is actively managed. Over the past 5 years, SZK returned -4.45%/yr vs 12.65%/yr for QTAP. At a correlation of -0.48, they often move in opposite directions. SZK charges 0.95%/yr vs 0.79%/yr for QTAP.
Performance
SZK vs. QTAP - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SZK achieves a -15.03% return, which is significantly lower than QTAP's 12.83% return.
SZK
- 1D
- -3.58%
- 1M
- 1.29%
- YTD
- -15.03%
- 6M
- -14.75%
- 1Y
- -5.00%
- 3Y*
- -5.75%
- 5Y*
- -4.45%
- 10Y*
- -16.68%
QTAP
- 1D
- -1.14%
- 1M
- -0.91%
- YTD
- 12.83%
- 6M
- 13.01%
- 1Y
- 22.41%
- 3Y*
- 19.78%
- 5Y*
- 12.65%
- 10Y*
- —
SZK vs. QTAP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SZK ProShares UltraShort Consumer Goods | -15.03% | 3.37% | -11.33% | -3.10% | 47.20% | -32.64% |
QTAP Innovator Growth Accelerated Plus ETF - April | 12.83% | 19.36% | 17.34% | 43.32% | -25.87% | 15.95% |
Correlation
The correlation between SZK and QTAP is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.47 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 2021 | -0.48 |
The correlation between SZK and QTAP shifts across timeframes, from -0.48 (all time) to 0.07 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SZK vs. QTAP — Risk / Return Rank
SZK
QTAP
SZK vs. QTAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Consumer Goods (SZK) 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.
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.
| SZK | QTAP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.89 | ||
| Sortino ratioReturn per unit of downside risk | -6.11 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.94 | -0.95 |
| Calmar ratioReturn relative to maximum drawdown | -0.17 | 9.04 | -9.21 |
| Martin ratioReturn relative to average drawdown | -0.37 | 52.85 | -53.21 |
Loading charts...
Drawdowns
SZK vs. QTAP - Drawdown Comparison
The maximum SZK drawdown since its inception was -99.40%, which is greater than QTAP's maximum drawdown of -29.44%. Use the drawdown chart below to compare losses from any high point for SZK and QTAP.
Loading charts...
Drawdown Indicators
| SZK | QTAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.40% | -29.44% | -69.96% |
Max Drawdown (1Y)Largest decline over 1 year | -29.26% | -2.49% | -26.77% |
Max Drawdown (3Y)Largest decline over 3 years | -41.81% | -13.03% | -28.78% |
Max Drawdown (5Y)Largest decline over 5 years | -41.81% | -29.44% | -12.37% |
Max Drawdown (10Y)Largest decline over 10 years | -86.78% | — | — |
Current DrawdownCurrent decline from peak | -99.28% | -1.70% | -97.58% |
Average DrawdownAverage peak-to-trough decline | -82.02% | -4.99% | -77.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.60% | 0.43% | +13.17% |
Volatility
SZK vs. QTAP - Volatility Comparison
ProShares UltraShort Consumer Goods (SZK) has a higher volatility of 10.21% compared to Innovator Growth Accelerated Plus ETF - April (QTAP) at 3.03%. This indicates that SZK'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.
Loading charts...
Volatility by Period
| SZK | QTAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.21% | 3.03% | +7.18% |
Volatility (6M)Calculated over the trailing 6-month period | 21.18% | 4.94% | +16.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.03% | 6.12% | +19.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.60% | 18.92% | +12.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.63% | 18.72% | +14.91% |
SZK vs. QTAP - Expense Ratio Comparison
SZK has a 0.95% expense ratio, which is higher than QTAP's 0.79% expense ratio.
Dividends
SZK vs. QTAP - Dividend Comparison
SZK's dividend yield for the trailing twelve months is around 2.79%, while QTAP has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
SZK ProShares UltraShort Consumer Goods | 2.79% | 2.90% | 5.70% | 4.03% | 0.56% | 0.00% | 0.19% | 1.70% | 0.50% |
Frequently Asked Questions
SZK and QTAP have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SZK has higher volatility (10.21%) compared to QTAP (3.03%). In terms of maximum drawdown, SZK dropped -99.40% vs QTAP's -29.44%.
On 5-year performance, QTAP leads with 12.65% vs -4.45% for SZK. On fees, QTAP is cheaper at 0.79% per year. On volatility, QTAP has been the lower-risk option at 3.03%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, QTAP has performed better with a 12.65% return vs -4.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QTAP is cheaper with a 0.79% expense ratio, compared with 0.95% for SZK.
SZK has the higher dividend yield at 2.79%, compared with 0.00% for QTAP.
They also come from different issuers: ProShares and Innovator. Their fees differ too: 0.95% for SZK and 0.79% for QTAP.
QTAP currently has the higher Sharpe Ratio (3.70 vs -0.19), 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.
Find the right allocation for SZK and QTAP
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer