XDQQ vs. SDS

Last updated Apr 2, 2026

Compare and contrast key facts about Innovator Growth Accelerated ETF - Quarterly (XDQQ) and ProShares UltraShort S&P500 (SDS).

XDQQ and SDS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XDQQ is an actively managed fund by Innovator. It was launched on Apr 1, 2021. SDS is a passively managed fund by ProShares that tracks the performance of the S&P 500 Index (-200%). It was launched on Jul 11, 2006.

Performance

XDQQ vs. SDS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Growth Accelerated ETF - Quarterly (XDQQ) and ProShares UltraShort S&P500 (SDS). The values are adjusted to include any dividend payments, if applicable.

XDQQ vs. SDS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XDQQ Innovator Growth Accelerated ETF - Quarterly	-5.48%	13.75%	31.47%	30.15%	-33.74%	18.29%
SDS ProShares UltraShort S&P500	8.81%	-26.79%	-29.45%	-31.53%	30.69%	-32.83%

Returns By Period

In the year-to-date period, XDQQ achieves a -5.48% return, which is significantly lower than SDS's 8.81% return.

XDQQ

• 1D: 1.03%
• 1M: -5.50%
• YTD: -5.48%
• 6M: -1.65%
• 1Y: 16.74%
• 3Y*: 17.89%
• 5Y*: —
• 10Y*: —

SDS

• 1D: -1.51%
• 1M: 9.11%
• YTD: 8.81%
• 6M: 5.68%
• 1Y: -27.38%
• 3Y*: -23.96%
• 5Y*: -19.51%
• 10Y*: -26.00%

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

XDQQ vs. SDS - Expense Ratio Comparison

XDQQ has a 0.79% expense ratio, which is lower than SDS's 0.91% expense ratio.

SDS

ProShares UltraShort S&P500

XDQQ

Innovator Growth Accelerated ETF - Quarterly

Return for Risk

XDQQ vs. SDS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XDQQ

XDQQ Risk / Return Rank: 48
XDQQ Sharpe Ratio Rank: 39
XDQQ Sortino Ratio Rank: 43
XDQQ Omega Ratio Rank: 50
XDQQ Calmar Ratio Rank: 49
XDQQ Martin Ratio Rank: 57

SDS

SDS Risk / Return Rank: 3
SDS Sharpe Ratio Rank: 2
SDS Sortino Ratio Rank: 2
SDS Omega Ratio Rank: 2
SDS Calmar Ratio Rank: 3
SDS Martin Ratio Rank: 7

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

XDQQ vs. SDS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Growth Accelerated ETF - Quarterly (XDQQ) and ProShares UltraShort S&P500 (SDS). 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.

	XDQQ	SDS	Difference
Sharpe ratio Return per unit of total volatility	0.78	-0.75	+1.54
Sortino ratio Return per unit of downside risk	1.27	-0.94	+2.21
Omega ratio Gain probability vs. loss probability	1.20	0.87	+0.33
Calmar ratio Return relative to maximum drawdown	1.38	-0.57	+1.95
Martin ratio Return relative to average drawdown	6.03	-0.68	+6.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XDQQ vs. SDS - Sharpe Ratio Comparison

The current XDQQ Sharpe Ratio is 0.78, which is higher than the SDS Sharpe Ratio of -0.75. The chart below compares the historical Sharpe Ratios of XDQQ and SDS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XDQQ	SDS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.78	-0.75	+1.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.58	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.73	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	-0.64	+1.02

Correlation

The correlation between XDQQ and SDS is -0.89. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

XDQQ vs. SDS - Dividend Comparison

XDQQ has not paid dividends to shareholders, while SDS's dividend yield for the trailing twelve months is around 4.42%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
XDQQ Innovator Growth Accelerated ETF - Quarterly	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SDS ProShares UltraShort S&P500	4.42%	5.88%	7.89%	5.77%	0.35%	0.00%	0.92%	1.84%	1.28%	0.09%

Drawdowns

XDQQ vs. SDS - Drawdown Comparison

The maximum XDQQ drawdown since its inception was -35.63%, smaller than the maximum SDS drawdown of -99.82%. Use the drawdown chart below to compare losses from any high point for XDQQ and SDS.

Drawdown Indicators

	XDQQ	SDS	Difference
Max Drawdown Largest peak-to-trough decline	-35.63%	-99.82%	+64.19%
Max Drawdown (1Y) Largest decline over 1 year	-12.64%	-48.71%	+36.07%
Max Drawdown (5Y) Largest decline over 5 years	—	-71.16%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-95.85%	—
Current Drawdown Current decline from peak	-7.84%	-99.80%	+91.96%
Average Drawdown Average peak-to-trough decline	-11.14%	-82.58%	+71.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.88%	40.81%	-37.93%

Volatility

XDQQ vs. SDS - Volatility Comparison

The current volatility for Innovator Growth Accelerated ETF - Quarterly (XDQQ) is 7.13%, while ProShares UltraShort S&P500 (SDS) has a volatility of 10.78%. This indicates that XDQQ experiences smaller price fluctuations and is considered to be less risky than SDS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XDQQ	SDS	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.13%	10.78%	-3.65%
Volatility (6M) Calculated over the trailing 6-month period	12.80%	18.91%	-6.11%
Volatility (1Y) Calculated over the trailing 1-year period	21.42%	36.43%	-15.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.95%	33.66%	-13.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.95%	35.78%	-15.83%