XTAP vs. HQU.TO

Last updated Jun 4, 2026

XTAP (Innovator U.S. Equity Accelerated Plus ETF) and HQU.TO (BetaPro NASDAQ-100 2x Daily Bull ETF) are both exchange-traded funds - XTAP is a Leveraged Equities fund actively managed by Innovator, while HQU.TO is a Nasdaq-100 fund managed by Global X. Over the past 5 years, XTAP returned 10.99%/yr vs 20.61%/yr for HQU.TO. Their correlation of 0.84 suggests significant overlap in exposure.

Performance

XTAP vs. HQU.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Accelerated Plus ETF (XTAP) and BetaPro NASDAQ-100 2x Daily Bull ETF (HQU.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XTAP is traded in USD, while HQU.TO is traded in CAD. To make them comparable, the HQU.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XTAP achieves a 10.96% return, which is significantly lower than HQU.TO's 40.12% return.

XTAP

• 1D: -0.21%
• 1M: 2.32%
• YTD: 10.96%
• 6M: 12.10%
• 1Y: 21.00%
• 3Y*: 17.90%
• 5Y*: 10.99%
• 10Y*: —

HQU.TO

• 1D: 0.91%
• 1M: 20.11%
• YTD: 40.12%
• 6M: 37.41%
• 1Y: 79.74%
• 3Y*: 45.52%
• 5Y*: 20.61%
• 10Y*: 32.41%

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

XTAP vs. HQU.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XTAP Innovator U.S. Equity Accelerated Plus ETF	10.96%	17.58%	14.26%	23.46%	-14.68%	11.87%
HQU.TO BetaPro NASDAQ-100 2x Daily Bull ETF	40.12%	32.84%	28.95%	118.87%	-64.29%	44.26%

Correlation

The correlation between XTAP and HQU.TO is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Apr 5, 2021	0.84

The correlation between XTAP and HQU.TO has been stable across timeframes, ranging from 0.75 to 0.85 - a consistent structural relationship.

XTAP vs. HQU.TO - Sectors Allocation Comparison

Sectors	XTAP	HQU.TO
Technology	33.6%	52.7%
Financial Services	12.2%	0.5%
Communication Services	10.5%	15.2%
Consumer Cyclical	10.0%	14.3%
Healthcare	9.5%	5.0%
Industrials	8.5%	3.5%
Consumer Defensive	5.3%	5.5%
Energy	4.0%	0.6%
Utilities	2.6%	1.2%
Real Estate	2.0%	0.2%
Basic Materials	1.9%	1.3%

Return for Risk

XTAP vs. HQU.TO — Risk / Return Rank

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

XTAP

XTAP Risk / Return Rank: 98
XTAP Sharpe Ratio Rank: 97
XTAP Sortino Ratio Rank: 98
XTAP Omega Ratio Rank: 98
XTAP Calmar Ratio Rank: 98
XTAP Martin Ratio Rank: 98

HQU.TO

HQU.TO Risk / Return Rank: 70
HQU.TO Sharpe Ratio Rank: 82
HQU.TO Sortino Ratio Rank: 70
HQU.TO Omega Ratio Rank: 69
HQU.TO Calmar Ratio Rank: 67
HQU.TO Martin Ratio Rank: 63

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.

XTAP vs. HQU.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Accelerated Plus ETF (XTAP) and BetaPro NASDAQ-100 2x Daily Bull ETF (HQU.TO). 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.

	XTAP	HQU.TO	Difference
Sharpe ratio: Return per unit of total volatility	4.50	2.51	+2.00
Sortino ratio: Return per unit of downside risk	7.78	3.01	+4.77
Omega ratio: Gain probability vs. loss probability	2.22	1.39	+0.83
Calmar ratio: Return relative to maximum drawdown	14.82	3.23	+11.60
Martin ratio: Return relative to average drawdown	78.70	11.74	+66.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XTAP vs. HQU.TO - Sharpe Ratio Comparison

The current XTAP Sharpe Ratio is 4.50, which is higher than the HQU.TO Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of XTAP and HQU.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XTAP	HQU.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.50	2.51	+2.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.43	+0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.68	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.80	0.18	+0.63

Drawdowns

XTAP vs. HQU.TO - Drawdown Comparison

The maximum XTAP drawdown since its inception was -22.13%, smaller than the maximum HQU.TO drawdown of -76.46%. Use the drawdown chart below to compare losses from any high point for XTAP and HQU.TO.

Drawdown Indicators

	XTAP	HQU.TO	Difference
Max Drawdown Largest peak-to-trough decline	-22.13%	-76.46%	+54.33%
Max Drawdown (1Y) Largest decline over 1 year	-1.42%	-25.71%	+24.29%
Max Drawdown (3Y) Largest decline over 3 years	-11.83%	-43.07%	+31.24%
Max Drawdown (5Y) Largest decline over 5 years	-22.13%	-67.30%	+45.17%
Max Drawdown (10Y) Largest decline over 10 years	—	-67.30%	—
Current Drawdown Current decline from peak	-0.21%	0.00%	-0.21%
Average Drawdown Average peak-to-trough decline	-3.45%	-33.28%	+29.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.27%	7.05%	-6.78%

Volatility

XTAP vs. HQU.TO - Volatility Comparison

The current volatility for Innovator U.S. Equity Accelerated Plus ETF (XTAP) is 1.10%, while BetaPro NASDAQ-100 2x Daily Bull ETF (HQU.TO) has a volatility of 9.47%. This indicates that XTAP experiences smaller price fluctuations and is considered to be less risky than HQU.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XTAP	HQU.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.10%	9.47%	-8.37%
Volatility (6M) Calculated over the trailing 6-month period	3.16%	25.41%	-22.25%
Volatility (1Y) Calculated over the trailing 1-year period	4.70%	33.14%	-28.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.54%	47.79%	-33.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.41%	47.66%	-33.25%

Dividends

XTAP vs. HQU.TO - Dividend Comparison

Neither XTAP nor HQU.TO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XTAP and HQU.TO in my portfolio?

XTAP and HQU.TO have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between XTAP and HQU.TO?

XTAP is categorized as Leveraged Equities, while HQU.TO is Nasdaq-100. They also come from different issuers: Innovator and Global X.