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XTAP vs. QLD
Performance
Return for Risk
Dividends
Drawdowns
Volatility

XTAP vs. QLD

Last updated Apr 1, 2026

Compare and contrast key facts about Innovator U.S. Equity Accelerated Plus ETF (XTAP) and ProShares Ultra QQQ (QLD).

XTAP and QLD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XTAP is an actively managed fund by Innovator. It was launched on Apr 1, 2021. QLD is a passively managed fund by ProShares that tracks the performance of the NASDAQ-100 Index (200%). It was launched on Jun 21, 2006.

Performance

XTAP vs. QLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Accelerated Plus ETF (XTAP) and ProShares Ultra QQQ (QLD). The values are adjusted to include any dividend payments, if applicable.

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XTAP vs. QLD - Yearly Performance Comparison

2026 (YTD)20252024202320222021
XTAP
Innovator U.S. Equity Accelerated Plus ETF		1.66%17.58%14.26%23.46%-14.68%11.87%
QLD
ProShares Ultra QQQ		-13.35%30.36%42.82%117.72%-60.52%46.78%

Returns By Period

In the year-to-date period, XTAP achieves a 1.66% return, which is significantly higher than QLD's -13.35% return.

XTAP

1D
0.08%
1M
0.65%
YTD
1.66%
6M
4.34%
1Y
16.29%
3Y*
16.22%
5Y*
—
10Y*
—

QLD

1D
6.72%
1M
-10.26%
YTD
-13.35%
6M
-11.03%
1Y
37.53%
3Y*
35.41%
5Y*
15.27%
10Y*
29.40%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Innovator U.S. Equity Accelerated Plus ETF

ProShares Ultra QQQ

Often compared with XTAP:
XTAP vs. QTAPXTAP vs. SPMOXTAP vs. NFLUXTAP vs. SOXLXTAP vs. TQQQXTAP vs. YCSXTAP vs. LABD
Often compared with QLD:
QLD vs. QQQQLD vs. TQQQQLD vs. SSOQLD vs. QQQMQLD vs. UPROQLD vs. VOOQLD vs. SPY

XTAP vs. QLD - Expense Ratio Comparison

XTAP has a 0.79% expense ratio, which is lower than QLD's 0.95% expense ratio.

QLD
ProShares Ultra QQQ
XTAP
Innovator U.S. Equity Accelerated Plus ETF

Return for Risk

XTAP vs. QLD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XTAP
XTAP Risk / Return Rank: 7474
Overall Rank
XTAP Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
XTAP Sortino Ratio Rank: 7070
Sortino Ratio Rank
XTAP Omega Ratio Rank: 9494
Omega Ratio Rank
XTAP Calmar Ratio Rank: 5656
Calmar Ratio Rank
XTAP Martin Ratio Rank: 8585
Martin Ratio Rank
QLD
QLD Risk / Return Rank: 5757
Overall Rank
QLD Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
QLD Sortino Ratio Rank: 5959
Sortino Ratio Rank
QLD Omega Ratio Rank: 5858
Omega Ratio Rank
QLD Calmar Ratio Rank: 6363
Calmar Ratio Rank
QLD Martin Ratio Rank: 5555
Martin Ratio Rank
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. QLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Accelerated Plus ETF (XTAP) and ProShares Ultra QQQ (QLD). 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.

XTAPQLDDifference

Sharpe ratio

Return per unit of total volatility

1.14

0.84

+0.30

Sortino ratio

Return per unit of downside risk

1.76

1.43

+0.33

Omega ratio

Gain probability vs. loss probability

1.44

1.20

+0.24

Calmar ratio

Return relative to maximum drawdown

1.43

1.49

-0.06

Martin ratio

Return relative to average drawdown

9.78

4.88

+4.90

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. QLD - Sharpe Ratio Comparison

The current XTAP Sharpe Ratio is 1.14, which is higher than the QLD Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of XTAP and QLD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

XTAPQLDDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.14

0.84

+0.30

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.34

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.66

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.69

0.53

+0.16

Correlation

The correlation between XTAP and QLD is 0.87, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

XTAP vs. QLD - Dividend Comparison

XTAP has not paid dividends to shareholders, while QLD's dividend yield for the trailing twelve months is around 0.19%.

TTM20252024202320222021202020192018201720162015
XTAP
Innovator U.S. Equity Accelerated Plus ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
QLD
ProShares Ultra QQQ		0.19%0.17%0.25%0.33%0.31%0.00%0.00%0.13%0.06%0.02%0.21%0.11%

Drawdowns

XTAP vs. QLD - Drawdown Comparison

The maximum XTAP drawdown since its inception was -22.13%, smaller than the maximum QLD drawdown of -83.13%. Use the drawdown chart below to compare losses from any high point for XTAP and QLD.

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Drawdown Indicators

XTAPQLDDifference

Max Drawdown

Largest peak-to-trough decline

-22.13%

-83.13%

+61.00%

Max Drawdown (1Y)

Largest decline over 1 year

-11.83%

-25.13%

+13.30%

Max Drawdown (5Y)

Largest decline over 5 years

—

-63.68%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-63.68%

—

Current Drawdown

Current decline from peak

0.00%

-20.10%

+20.10%

Average Drawdown

Average peak-to-trough decline

-3.57%

-18.30%

+14.73%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.73%

7.67%

-5.94%

Volatility

XTAP vs. QLD - Volatility Comparison

The current volatility for Innovator U.S. Equity Accelerated Plus ETF (XTAP) is 0.77%, while ProShares Ultra QQQ (QLD) has a volatility of 12.96%. This indicates that XTAP experiences smaller price fluctuations and is considered to be less risky than QLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XTAPQLDDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.77%

12.96%

-12.19%

Volatility (6M)

Calculated over the trailing 6-month period

2.52%

25.55%

-23.03%

Volatility (1Y)

Calculated over the trailing 1-year period

14.33%

44.91%

-30.58%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.60%

44.77%

-30.17%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.60%

44.47%

-29.87%