WANT vs. XTAP

Last updated Aug 4, 2026

WANT (Direxion Daily Consumer Discretionary Bull 3X Shares) and XTAP (Innovator U.S. Equity Accelerated Plus ETF) are both Leveraged Equities funds. WANT is passively managed, while XTAP is actively managed. Over the past 5 years, WANT returned -8.28%/yr vs 10.84%/yr for XTAP. Their 0.78 correlation means they have sometimes moved together and sometimes differently. WANT charges 0.98%/yr vs 0.79%/yr for XTAP.

Performance

WANT vs. XTAP - 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 U.S. Equity Accelerated Plus ETF (XTAP). 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 XTAP's 12.91% 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%

XTAP

• 1D: 0.39%
• 1M: 1.42%
• 6M: 12.17%
• YTD: 12.91%
• 1Y: 19.58%
• 3Y*: 17.31%
• 5Y*: 10.84%
• 10Y*: —
• ALL TIME*: 11.57%

*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)
WANT Direxion Daily Consumer Discretionary Bull 3X Shares	$2.02M	$1.30M	$1.32M
XTAP Innovator U.S. Equity Accelerated Plus ETF	$37.97K	$25.72K	$30.55K

WANT vs. XTAP - 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%
XTAP Innovator U.S. Equity Accelerated Plus ETF	12.91%	17.58%	14.26%	23.46%	-14.68%	12.26%

Correlation

The correlation between WANT and XTAP is 0.70, 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.	0.70
Correlation (3Y) Balances recent behavior with more history.	0.74
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 XTAP has been stable across timeframes, ranging from 0.70 to 0.78 - a consistent structural relationship.

WANT vs. XTAP - Sectors Allocation Comparison

Sectors	WANT	XTAP
Consumer Cyclical	19.7%	9.9%
Communication Services	0.4%	10.7%
Technology	0.2%	39.1%
Industrials	0.1%	7.8%
Basic Materials	-	1.7%
Consumer Defensive	-	4.5%
Energy	-	3.1%
Financial Services	-	10.9%
Healthcare	-	8.3%
Real Estate	-	1.8%
Utilities	-	2.1%

Return for Risk

WANT vs. XTAP — 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

XTAP

XTAP Risk / Return Rank: 98
XTAP Sharpe Ratio Rank: 98
XTAP Sortino Ratio Rank: 98
XTAP Omega Ratio Rank: 98
XTAP Calmar Ratio Rank: 98
XTAP Martin Ratio Rank: 98

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. XTAP - 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 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.

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	XTAP	Difference
Sharpe ratio: Return per unit of total volatility	0.13	4.03	-3.90
Sortino ratio: Return per unit of downside risk	0.59	6.62	-6.03
Omega ratio: Gain probability vs. loss probability	1.07	2.02	-0.95
Calmar ratio: Return relative to maximum drawdown	0.18	11.46	-11.27
Martin ratio: Return relative to average drawdown	0.40	58.60	-58.20

WANT vs. XTAP - Sharpe Ratio Comparison

The current WANT Sharpe Ratio is 0.13, which is lower than the XTAP Sharpe Ratio of 4.03. The chart below compares the historical Sharpe Ratios of WANT and XTAP, 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. XTAP - Drawdown Comparison

The maximum WANT drawdown since its inception was -85.89%, which is greater than XTAP's maximum drawdown of -22.13%. Use the drawdown chart below to compare losses from any high point for WANT and XTAP.

Drawdown Indicators

	WANT	XTAP	Difference
Max Drawdown Largest peak-to-trough decline	-85.89%	-22.13%	-63.76%
Max Drawdown (1Y) Largest decline over 1 year	-41.27%	-1.72%	-39.55%
Max Drawdown (3Y) Largest decline over 3 years	-63.53%	-11.83%	-51.70%
Max Drawdown (5Y) Largest decline over 5 years	-85.89%	-22.13%	-63.76%
Current Drawdown Current decline from peak	-58.72%	0.00%	-58.72%
Average Drawdown Average peak-to-trough decline	-43.42%	-3.36%	-40.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.70%	0.33%	+18.37%

Volatility

WANT vs. XTAP - Volatility Comparison

Direxion Daily Consumer Discretionary Bull 3X Shares (WANT) has a higher volatility of 22.32% compared to Innovator U.S. Equity Accelerated Plus ETF (XTAP) at 1.63%. This indicates that WANT'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.

Volatility by Period

	WANT	XTAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.32%	1.63%	+20.69%
Volatility (6M) Calculated over the trailing 6-month period	44.85%	4.03%	+40.82%
Volatility (1Y) Calculated over the trailing 1-year period	57.50%	4.89%	+52.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.48%	14.53%	+56.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	71.45%	14.23%	+57.22%

WANT vs. XTAP - Expense Ratio Comparison

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

Dividends

WANT vs. XTAP - Dividend Comparison

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

Position	TTM	2025	2024	2023	2022	2021	2020	2019
WANT Direxion Daily Consumer Discretionary Bull 3X Shares	0.52%	0.65%	0.61%	0.46%	0.00%	0.00%	0.07%	0.64%
XTAP Innovator U.S. Equity Accelerated Plus ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WANT and XTAP in my portfolio?

WANT and XTAP have a correlation of 0.70, 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 XTAP?

WANT has higher volatility (22.32%) compared to XTAP (1.63%). In terms of maximum drawdown, WANT dropped -85.89% vs XTAP's -22.13%.

Which ETF is better, WANT or XTAP?

On 5-year performance, XTAP leads with 10.84% vs -8.28% for WANT. On fees, XTAP is cheaper at 0.79% per year. On volatility, XTAP has been the lower-risk option at 1.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WANT or XTAP?

Over the 5-year period, XTAP has performed better with a 10.84% 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 XTAP?

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

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

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

What is the main difference between WANT and XTAP?

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

Which has better risk-adjusted returns?

XTAP currently has the higher Sharpe Ratio (4.03 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.