WANT vs. QTAP

Last updated Aug 4, 2026

WANT (Direxion Daily Consumer Discretionary Bull 3X Shares) and QTAP (Innovator Growth Accelerated Plus ETF - April) are both Leveraged Equities funds. WANT is passively managed, while QTAP is actively managed. Over the past 5 years, WANT returned -8.28%/yr vs 12.44%/yr for QTAP. Their 0.78 correlation means they have sometimes moved together and sometimes differently. WANT charges 0.98%/yr vs 0.79%/yr for QTAP.

Performance

WANT vs. QTAP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Consumer Discretionary Bull 3X Shares (WANT) and Innovator Growth Accelerated Plus ETF - April (QTAP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WANT achieves a -14.35% return, which is significantly lower than QTAP's 14.58% return.

WANT

• 1D: 5.55%
• 1M: 0.14%
• 6M: -18.34%
• YTD: -14.35%
• 1Y: 7.55%
• 3Y*: 10.00%
• 5Y*: -8.28%
• 10Y*: —
• ALL TIME*: 7.92%

QTAP

• 1D: 0.89%
• 1M: 1.04%
• 6M: 13.63%
• YTD: 14.58%
• 1Y: 21.37%
• 3Y*: 19.73%
• 5Y*: 12.44%
• 10Y*: —
• ALL TIME*: 13.62%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
QTAP Innovator Growth Accelerated Plus ETF - April	$233.87K	$224.64K	$223.31K
WANT Direxion Daily Consumer Discretionary Bull 3X Shares	$2.02M	$1.30M	$1.32M

WANT vs. QTAP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
WANT Direxion Daily Consumer Discretionary Bull 3X Shares	-14.35%	-6.94%	60.52%	114.43%	-83.03%	68.40%
QTAP Innovator Growth Accelerated Plus ETF - April	14.58%	19.36%	17.34%	43.32%	-25.87%	15.95%

Correlation

The correlation between WANT and QTAP is 0.63, 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.	0.63
Correlation (3Y) Balances recent behavior with more history.	0.70
Correlation (5Y) Shows whether the relationship held over a longer period.	0.78
Correlation (All Time) Calculated using the full available price history since Apr 1, 2021	0.78

The correlation between WANT and QTAP shifts across timeframes, from 0.63 (1 year) to 0.78 (all time), reflecting how their relationship changes across market environments.

WANT vs. QTAP - Sectors Allocation Comparison

Sectors	WANT	QTAP
Consumer Cyclical	19.7%	12.5%
Communication Services	0.4%	15.8%
Technology	0.2%	50.7%
Industrials	0.1%	3.3%
Basic Materials	-	1.3%
Consumer Defensive	-	8.7%
Energy	-	0.7%
Financial Services	-	0.2%
Healthcare	-	5.1%
Real Estate	-	0.1%
Utilities	-	1.6%

Return for Risk

WANT vs. QTAP — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

WANT

WANT Risk / Return Rank: 15
WANT Sharpe Ratio Rank: 14
WANT Sortino Ratio Rank: 18
WANT Omega Ratio Rank: 17
WANT Calmar Ratio Rank: 14
WANT Martin Ratio Rank: 14

QTAP

QTAP Risk / Return Rank: 97
QTAP Sharpe Ratio Rank: 97
QTAP Sortino Ratio Rank: 97
QTAP Omega Ratio Rank: 97
QTAP Calmar Ratio Rank: 97
QTAP Martin Ratio Rank: 97

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

WANT vs. QTAP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Consumer Discretionary Bull 3X Shares (WANT) 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.

	WANT	QTAP	Difference
Sharpe ratio: Return per unit of total volatility	0.13	3.25	-3.12
Sortino ratio: Return per unit of downside risk	0.59	5.27	-4.68
Omega ratio: Gain probability vs. loss probability	1.07	1.77	-0.70
Calmar ratio: Return relative to maximum drawdown	0.18	7.63	-7.45
Martin ratio: Return relative to average drawdown	0.40	36.59	-36.19

WANT vs. QTAP - Sharpe Ratio Comparison

The current WANT Sharpe Ratio is 0.13, which is lower than the QTAP Sharpe Ratio of 3.25. The chart below compares the historical Sharpe Ratios of WANT and QTAP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

WANT vs. QTAP - Drawdown Comparison

The maximum WANT drawdown since its inception was -85.89%, which is greater than QTAP's maximum drawdown of -29.44%. Use the drawdown chart below to compare losses from any high point for WANT and QTAP.

Drawdown Indicators

	WANT	QTAP	Difference
Max Drawdown Largest peak-to-trough decline	-85.89%	-29.44%	-56.45%
Max Drawdown (1Y) Largest decline over 1 year	-41.27%	-2.81%	-38.46%
Max Drawdown (3Y) Largest decline over 3 years	-63.53%	-13.03%	-50.50%
Max Drawdown (5Y) Largest decline over 5 years	-85.89%	-29.44%	-56.45%
Current Drawdown Current decline from peak	-58.72%	-0.17%	-58.55%
Average Drawdown Average peak-to-trough decline	-43.42%	-4.91%	-38.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.70%	0.59%	+18.11%

Volatility

WANT vs. QTAP - Volatility Comparison

Direxion Daily Consumer Discretionary Bull 3X Shares (WANT) has a higher volatility of 22.32% compared to Innovator Growth Accelerated Plus ETF - April (QTAP) at 2.84%. This indicates that WANT'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.

Volatility by Period

	WANT	QTAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.32%	2.84%	+19.48%
Volatility (6M) Calculated over the trailing 6-month period	44.85%	5.74%	+39.11%
Volatility (1Y) Calculated over the trailing 1-year period	57.50%	6.61%	+50.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.48%	18.93%	+52.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.45%	18.57%	+52.88%

WANT vs. QTAP - Expense Ratio Comparison

WANT has a 0.98% expense ratio, which is higher than QTAP's 0.79% expense ratio.

Dividends

WANT vs. QTAP - Dividend Comparison

WANT's dividend yield for the trailing twelve months is around 0.52%, while QTAP has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
QTAP Innovator Growth Accelerated Plus ETF - April	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
WANT Direxion Daily Consumer Discretionary Bull 3X Shares	0.52%	0.65%	0.61%	0.46%	0.00%	0.00%	0.07%	0.64%

Frequently Asked Questions

Can I hold both WANT and QTAP in my portfolio?

WANT and QTAP have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WANT or QTAP?

WANT has higher volatility (22.32%) compared to QTAP (2.84%). In terms of maximum drawdown, WANT dropped -85.89% vs QTAP's -29.44%.

Which ETF is better, WANT or QTAP?

On 5-year performance, QTAP leads with 12.44% vs -8.28% for WANT. On fees, QTAP is cheaper at 0.79% per year. On volatility, QTAP has been the lower-risk option at 2.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WANT or QTAP?

Over the 5-year period, QTAP has performed better with a 12.44% return vs -8.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WANT or QTAP?

QTAP is cheaper with a 0.79% expense ratio, compared with 0.98% for WANT.

Which ETF pays a higher dividend yield, WANT or QTAP?

WANT has the higher dividend yield at 0.52%, compared with 0.00% for QTAP.

What is the main difference between WANT and QTAP?

They also come from different issuers: Direxion and Innovator. Their fees differ too: 0.98% for WANT and 0.79% for QTAP.

Which has better risk-adjusted returns?

QTAP currently has the higher Sharpe Ratio (3.25 vs 0.13), 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.