XDQQ vs. SPUU

Last updated Jun 24, 2026

XDQQ (Innovator Growth Accelerated ETF - Quarterly) and SPUU (Direxion Daily S&P 500 Bull 2X ETF) are both Leveraged Equities funds. XDQQ is actively managed, while SPUU is passively managed. Over the past 5 years, XDQQ returned 7.88%/yr vs 18.44%/yr for SPUU. Their correlation of 0.89 suggests significant overlap in exposure. XDQQ charges 0.79%/yr vs 0.60%/yr for SPUU.

Performance

XDQQ vs. SPUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Growth Accelerated ETF - Quarterly (XDQQ) and Direxion Daily S&P 500 Bull 2X ETF (SPUU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XDQQ achieves a 2.83% return, which is significantly lower than SPUU's 13.33% return.

XDQQ

• 1D: -0.06%
• 1M: 0.56%
• YTD: 2.83%
• 6M: 1.08%
• 1Y: 16.74%
• 3Y*: 17.58%
• 5Y*: 7.88%
• 10Y*: —

SPUU

• 1D: -2.91%
• 1M: -3.20%
• YTD: 13.33%
• 6M: 10.95%
• 1Y: 43.00%
• 3Y*: 34.33%
• 5Y*: 18.44%
• 10Y*: 24.81%

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

XDQQ vs. SPUU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XDQQ Innovator Growth Accelerated ETF - Quarterly	2.83%	13.75%	31.47%	30.15%	-33.74%	18.52%
SPUU Direxion Daily S&P 500 Bull 2X ETF	13.33%	26.55%	44.25%	47.28%	-38.72%	43.90%

Correlation

The correlation between XDQQ and SPUU is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Apr 1, 2021	0.89

The correlation between XDQQ and SPUU has been stable across timeframes, ranging from 0.84 to 0.89 - a consistent structural relationship.

XDQQ vs. SPUU - Sectors Allocation Comparison

Sectors	XDQQ	SPUU
Technology	50.7%	39.0%
Communication Services	15.8%	10.6%
Consumer Cyclical	12.5%	9.9%
Consumer Defensive	8.7%	4.5%
Healthcare	5.1%	8.3%
Industrials	3.3%	7.8%
Utilities	1.6%	2.1%
Basic Materials	1.3%	1.7%
Energy	0.7%	3.1%
Financial Services	0.2%	11.1%
Real Estate	0.1%	1.8%

Return for Risk

XDQQ vs. SPUU — Risk / Return Rank

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

XDQQ

XDQQ Risk / Return Rank: 36
XDQQ Sharpe Ratio Rank: 36
XDQQ Sortino Ratio Rank: 33
XDQQ Omega Ratio Rank: 39
XDQQ Calmar Ratio Rank: 30
XDQQ Martin Ratio Rank: 42

SPUU

SPUU Risk / Return Rank: 51
SPUU Sharpe Ratio Rank: 52
SPUU Sortino Ratio Rank: 47
SPUU Omega Ratio Rank: 48
SPUU Calmar Ratio Rank: 50
SPUU Martin Ratio Rank: 59

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. SPUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Growth Accelerated ETF - Quarterly (XDQQ) and Direxion Daily S&P 500 Bull 2X ETF (SPUU). 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.

	XDQQ	SPUU	Difference
Sharpe ratio: Return per unit of total volatility	1.22	1.72	-0.50
Sortino ratio: Return per unit of downside risk	1.67	2.25	-0.57
Omega ratio: Gain probability vs. loss probability	1.25	1.30	-0.04
Calmar ratio: Return relative to maximum drawdown	1.42	2.38	-0.96
Martin ratio: Return relative to average drawdown	6.45	10.11	-3.66

XDQQ vs. SPUU - Sharpe Ratio Comparison

The current XDQQ Sharpe Ratio is 1.22, which is comparable to the SPUU Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of XDQQ and SPUU, 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

XDQQ vs. SPUU - Drawdown Comparison

The maximum XDQQ drawdown since its inception was -35.63%, smaller than the maximum SPUU drawdown of -59.35%. Use the drawdown chart below to compare losses from any high point for XDQQ and SPUU.

Drawdown Indicators

	XDQQ	SPUU	Difference
Max Drawdown Largest peak-to-trough decline	-35.63%	-59.35%	+23.72%
Max Drawdown (1Y) Largest decline over 1 year	-11.84%	-18.19%	+6.35%
Max Drawdown (3Y) Largest decline over 3 years	-23.17%	-35.18%	+12.01%
Max Drawdown (5Y) Largest decline over 5 years	-35.63%	-46.59%	+10.96%
Max Drawdown (10Y) Largest decline over 10 years	—	-59.35%	—
Current Drawdown Current decline from peak	-0.06%	-6.62%	+6.56%
Average Drawdown Average peak-to-trough decline	-10.72%	-9.48%	-1.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.60%	4.27%	-1.67%

Volatility

XDQQ vs. SPUU - Volatility Comparison

The current volatility for Innovator Growth Accelerated ETF - Quarterly (XDQQ) is 0.64%, while Direxion Daily S&P 500 Bull 2X ETF (SPUU) has a volatility of 9.70%. This indicates that XDQQ experiences smaller price fluctuations and is considered to be less risky than SPUU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XDQQ	SPUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.64%	9.70%	-9.06%
Volatility (6M) Calculated over the trailing 6-month period	10.31%	19.93%	-9.62%
Volatility (1Y) Calculated over the trailing 1-year period	13.80%	25.22%	-11.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.80%	33.67%	-13.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.55%	35.81%	-16.26%

XDQQ vs. SPUU - Expense Ratio Comparison

XDQQ has a 0.79% expense ratio, which is higher than SPUU's 0.60% expense ratio.

Dividends

XDQQ vs. SPUU - Dividend Comparison

XDQQ has not paid dividends to shareholders, while SPUU's dividend yield for the trailing twelve months is around 1.42%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPUU Direxion Daily S&P 500 Bull 2X ETF	1.42%	1.63%	0.55%	0.83%	0.88%	3.04%	8.03%	1.80%	5.50%	6.96%	8.08%	4.42%
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%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XDQQ and SPUU in my portfolio?

XDQQ and SPUU have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XDQQ or SPUU?

SPUU has higher volatility (9.70%) compared to XDQQ (0.64%). In terms of maximum drawdown, XDQQ dropped -35.63% vs SPUU's -59.35%.

Which ETF is better, XDQQ or SPUU?

On 5-year performance, SPUU leads with 18.44% vs 7.88% for XDQQ. On fees, SPUU is cheaper at 0.60% per year. On volatility, XDQQ has been the lower-risk option at 0.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XDQQ or SPUU?

Over the 5-year period, SPUU has performed better with a 18.44% return vs 7.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XDQQ or SPUU?

SPUU is cheaper with a 0.60% expense ratio, compared with 0.79% for XDQQ.

Which ETF pays a higher dividend yield, XDQQ or SPUU?

SPUU has the higher dividend yield at 1.42%, compared with 0.00% for XDQQ.

What is the main difference between XDQQ and SPUU?

They also come from different issuers: Innovator and Direxion. Their fees differ too: 0.79% for XDQQ and 0.60% for SPUU.

Which has better risk-adjusted returns?

SPUU currently has the higher Sharpe Ratio (1.72 vs 1.22), 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.