TQQQ vs. XTAP
Compare and contrast key facts about ProShares UltraPro QQQ (TQQQ) and Innovator U.S. Equity Accelerated Plus ETF (XTAP).
TQQQ and XTAP 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. XTAP is an actively managed fund by Innovator. It was launched on Apr 1, 2021.
Performance
TQQQ vs. XTAP - Performance Comparison
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TQQQ vs. XTAP - 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% |
XTAP Innovator U.S. Equity Accelerated Plus ETF | 1.66% | 17.58% | 14.26% | 23.46% | -14.68% | 11.87% |
Returns By Period
In the year-to-date period, TQQQ achieves a -20.81% return, which is significantly lower than XTAP's 1.66% 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%
XTAP
- 1D
- 0.08%
- 1M
- 0.65%
- YTD
- 1.66%
- 6M
- 4.34%
- 1Y
- 16.29%
- 3Y*
- 16.22%
- 5Y*
- —
- 10Y*
- —
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TQQQ vs. XTAP - Expense Ratio Comparison
TQQQ has a 0.95% expense ratio, which is higher than XTAP's 0.79% expense ratio.
Return for Risk
TQQQ vs. XTAP — Risk / Return Rank
TQQQ
XTAP
TQQQ vs. XTAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro QQQ (TQQQ) 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.
| TQQQ | XTAP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.69 | 1.14 | -0.45 |
Sortino ratioReturn per unit of downside risk | 1.37 | 1.76 | -0.39 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.44 | -0.25 |
Calmar ratioReturn relative to maximum drawdown | 1.25 | 1.43 | -0.17 |
Martin ratioReturn relative to average drawdown | 3.87 | 9.78 | -5.91 |
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 | XTAP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.69 | 1.14 | -0.45 |
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 | 0.69 | -0.05 |
Correlation
The correlation between TQQQ and XTAP is 0.86, 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. XTAP - Dividend Comparison
TQQQ's dividend yield for the trailing twelve months is around 0.76%, while XTAP 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% |
XTAP Innovator U.S. Equity Accelerated Plus ETF | 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. XTAP - Drawdown Comparison
The maximum TQQQ drawdown since its inception was -81.66%, which is greater than XTAP's maximum drawdown of -22.13%. Use the drawdown chart below to compare losses from any high point for TQQQ and XTAP.
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Drawdown Indicators
| TQQQ | XTAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.66% | -22.13% | -59.53% |
Max Drawdown (1Y)Largest decline over 1 year | -36.97% | -11.83% | -25.14% |
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% | 0.00% | -30.66% |
Average DrawdownAverage peak-to-trough decline | -18.66% | -3.57% | -15.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.00% | 1.73% | +10.27% |
Volatility
TQQQ vs. XTAP - Volatility Comparison
ProShares UltraPro QQQ (TQQQ) has a higher volatility of 19.43% compared to Innovator U.S. Equity Accelerated Plus ETF (XTAP) at 0.77%. This indicates that TQQQ's price experiences larger fluctuations and is considered to be riskier than XTAP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TQQQ | XTAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.43% | 0.77% | +18.66% |
Volatility (6M)Calculated over the trailing 6-month period | 38.32% | 2.52% | +35.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.26% | 14.33% | +52.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 66.55% | 14.60% | +51.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 65.83% | 14.60% | +51.23% |