TQQQ vs. QTAP
Compare and contrast key facts about ProShares UltraPro QQQ (TQQQ) and Innovator Growth Accelerated Plus ETF - April (QTAP).
TQQQ and QTAP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TQQQ is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (300%). It was launched on Feb 9, 2010. QTAP is an actively managed fund by Innovator. It was launched on Apr 1, 2021.
Performance
TQQQ vs. QTAP - Performance Comparison
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TQQQ vs. QTAP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
TQQQ ProShares UltraPro QQQ | -20.81% | 34.35% | 58.27% | 198.04% | -79.09% | 73.44% |
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, TQQQ achieves a -20.81% return, which is significantly lower than QTAP's 1.26% return.
TQQQ
- 1D
- 10.00%
- 1M
- -15.69%
- YTD
- -20.81%
- 6M
- -19.12%
- 1Y
- 46.49%
- 3Y*
- 45.09%
- 5Y*
- 12.72%
- 10Y*
- 34.82%
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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TQQQ vs. QTAP - Expense Ratio Comparison
TQQQ has a 0.95% expense ratio, which is higher than QTAP's 0.79% expense ratio.
Return for Risk
TQQQ vs. QTAP — Risk / Return Rank
TQQQ
QTAP
TQQQ vs. QTAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro QQQ (TQQQ) 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.
| TQQQ | QTAP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.69 | 1.22 | -0.52 |
Sortino ratioReturn per unit of downside risk | 1.37 | 1.94 | -0.56 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.48 | -0.28 |
Calmar ratioReturn relative to maximum drawdown | 1.25 | 1.73 | -0.47 |
Martin ratioReturn relative to average drawdown | 3.87 | 12.34 | -8.47 |
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
| TQQQ | QTAP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.69 | 1.22 | -0.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.19 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 0.62 | +0.02 |
Correlation
The correlation between TQQQ and QTAP is 0.92, 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
TQQQ vs. QTAP - Dividend Comparison
TQQQ's dividend yield for the trailing twelve months is around 0.76%, while QTAP has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TQQQ ProShares UltraPro QQQ | 0.76% | 0.65% | 1.27% | 1.26% | 0.57% | 0.00% | 0.00% | 0.06% | 0.11% | 0.00% | 0.00% | 0.01% |
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
TQQQ vs. QTAP - Drawdown Comparison
The maximum TQQQ drawdown since its inception was -81.66%, which is greater than QTAP's maximum drawdown of -29.44%. Use the drawdown chart below to compare losses from any high point for TQQQ and QTAP.
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Drawdown Indicators
| TQQQ | QTAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.66% | -29.44% | -52.22% |
Max Drawdown (1Y)Largest decline over 1 year | -36.97% | -12.04% | -24.93% |
Max Drawdown (5Y)Largest decline over 5 years | -81.66% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -81.66% | — | — |
Current DrawdownCurrent decline from peak | -30.66% | -0.51% | -30.15% |
Average DrawdownAverage peak-to-trough decline | -18.66% | -5.21% | -13.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.00% | 1.68% | +10.32% |
Volatility
TQQQ vs. QTAP - Volatility Comparison
ProShares UltraPro QQQ (TQQQ) has a higher volatility of 19.43% compared to Innovator Growth Accelerated Plus ETF - April (QTAP) at 0.76%. This indicates that TQQQ'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
| TQQQ | QTAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.43% | 0.76% | +18.67% |
Volatility (6M)Calculated over the trailing 6-month period | 38.32% | 2.75% | +35.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.26% | 16.31% | +50.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 66.55% | 19.02% | +47.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 65.83% | 19.02% | +46.81% |