UPV vs. QTJL
UPV (ProShares Ultra Europe) and QTJL (Innovator Growth Accelerated Plus ETF - July) are both Leveraged Equities funds. UPV is passively managed, while QTJL is actively managed. Over the past 5 years, UPV returned 9.52%/yr vs 9.06%/yr for QTJL. Their 0.63 correlation means they have sometimes moved together and sometimes differently. UPV charges 0.95%/yr vs 0.79%/yr for QTJL.
Performance
UPV vs. QTJL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, UPV achieves a 15.25% return, which is significantly higher than QTJL's 2.56% return.
UPV
- 1D
- -0.78%
- 1M
- 2.19%
- 6M
- 5.99%
- YTD
- 15.25%
- 1Y
- 41.67%
- 3Y*
- 24.41%
- 5Y*
- 9.52%
- 10Y*
- 12.29%
- ALL TIME*
- 10.10%
QTJL
- 1D
- 0.93%
- 1M
- -1.97%
- 6M
- 1.77%
- YTD
- 2.56%
- 1Y
- 11.97%
- 3Y*
- 15.99%
- 5Y*
- 9.06%
- 10Y*
- —
- ALL TIME*
- 9.33%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $200.88K | $354.66K | $247.25K | |
| $55.59K | $49.44K | $105.04K |
UPV vs. QTJL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
UPV ProShares Ultra Europe | 15.25% | 68.63% | -4.51% | 32.16% | -36.58% | 5.19% |
QTJL Innovator Growth Accelerated Plus ETF - July | 2.56% | 21.07% | 16.50% | 42.39% | -30.16% | 9.36% |
Correlation
The correlation between UPV and QTJL is 0.59, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.59 |
Correlation (3Y) Balances recent behavior with more history. | 0.55 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2021 | 0.63 |
The correlation between UPV and QTJL has been stable across timeframes, ranging from 0.55 to 0.63 - a consistent structural relationship.
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
UPV vs. QTJL — Risk / Return Rank
UPV
QTJL
UPV vs. QTJL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Europe (UPV) and Innovator Growth Accelerated Plus ETF - July (QTJL). 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.
| UPV | QTJL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.39 | ||
| Sortino ratioReturn per unit of downside risk | +0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.18 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.73 | 1.23 | +0.50 |
| Martin ratioReturn relative to average drawdown | 5.85 | 6.04 | -0.19 |
Loading charts...
Drawdowns
UPV vs. QTJL - Drawdown Comparison
The maximum UPV drawdown since its inception was -67.25%, which is greater than QTJL's maximum drawdown of -33.40%. Use the drawdown chart below to compare losses from any high point for UPV and QTJL.
Loading charts...
Drawdown Indicators
| UPV | QTJL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.25% | -33.40% | -33.85% |
Max Drawdown (1Y)Largest decline over 1 year | -23.41% | -8.48% | -14.93% |
Max Drawdown (3Y)Largest decline over 3 years | -27.54% | -22.43% | -5.11% |
Max Drawdown (5Y)Largest decline over 5 years | -58.33% | -33.40% | -24.93% |
Max Drawdown (10Y)Largest decline over 10 years | -67.25% | — | — |
Current DrawdownCurrent decline from peak | -0.78% | -4.62% | +3.84% |
Average DrawdownAverage peak-to-trough decline | -20.67% | -7.74% | -12.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.92% | 1.73% | +5.19% |
Volatility
UPV vs. QTJL - Volatility Comparison
ProShares Ultra Europe (UPV) has a higher volatility of 8.89% compared to Innovator Growth Accelerated Plus ETF - July (QTJL) at 6.45%. This indicates that UPV's price experiences larger fluctuations and is considered to be riskier than QTJL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| UPV | QTJL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.89% | 6.45% | +2.44% |
Volatility (6M)Calculated over the trailing 6-month period | 27.48% | 9.63% | +17.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.74% | 11.72% | +20.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.53% | 20.43% | +15.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.16% | 20.30% | +15.86% |
UPV vs. QTJL - Expense Ratio Comparison
UPV has a 0.95% expense ratio, which is higher than QTJL's 0.79% expense ratio.
Dividends
UPV vs. QTJL - Dividend Comparison
UPV's dividend yield for the trailing twelve months is around 2.15%, while QTJL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
QTJL Innovator Growth Accelerated Plus ETF - July | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UPV ProShares Ultra Europe | 2.15% | 2.11% | 2.70% | 1.57% | 0.00% | 0.00% | 0.00% | 0.65% | 3.80% |
Frequently Asked Questions
UPV and QTJL have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UPV has higher volatility (8.89%) compared to QTJL (6.45%). In terms of maximum drawdown, UPV dropped -67.25% vs QTJL's -33.40%.
On 5-year performance, UPV leads with 9.52% vs 9.06% for QTJL. On fees, QTJL is cheaper at 0.79% per year. On volatility, QTJL has been the lower-risk option at 6.45%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, UPV has performed better with a 9.52% return vs 9.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QTJL is cheaper with a 0.79% expense ratio, compared with 0.95% for UPV.
UPV has the higher dividend yield at 2.15%, compared with 0.00% for QTJL.
They also come from different issuers: ProShares and Innovator. Their fees differ too: 0.95% for UPV and 0.79% for QTJL.
UPV currently has the higher Sharpe Ratio (1.28 vs 0.89), 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 UPV and QTJL
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