XTAP vs. QTAP

Last updated Apr 1, 2026

Compare and contrast key facts about Innovator U.S. Equity Accelerated Plus ETF (XTAP) and Innovator Growth Accelerated Plus ETF - April (QTAP).

XTAP and QTAP 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. QTAP is an actively managed fund by Innovator. It was launched on Apr 1, 2021.

Performance

XTAP vs. QTAP - Performance Comparison

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

XTAP vs. QTAP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XTAP Innovator U.S. Equity Accelerated Plus ETF	1.66%	17.58%	14.26%	23.46%	-14.68%	11.87%
QTAP Innovator Growth Accelerated Plus ETF - April	1.26%	19.36%	17.34%	43.32%	-25.87%	15.63%

Returns By Period

In the year-to-date period, XTAP achieves a 1.66% return, which is significantly higher than QTAP's 1.26% return.

XTAP

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

QTAP

• 1D: -0.51%
• 1M: 0.09%
• YTD: 1.26%
• 6M: 3.74%
• 1Y: 19.73%
• 3Y*: 18.89%
• 5Y*: —
• 10Y*: —

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

XTAP vs. QTAP - Expense Ratio Comparison

Both XTAP and QTAP have an expense ratio of 0.79%.

XTAP

Innovator U.S. Equity Accelerated Plus ETF

QTAP

Innovator Growth Accelerated Plus ETF - April

Return for Risk

XTAP vs. QTAP — Risk / Return Rank

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

XTAP

XTAP Risk / Return Rank: 74
XTAP Sharpe Ratio Rank: 65
XTAP Sortino Ratio Rank: 70
XTAP Omega Ratio Rank: 94
XTAP Calmar Ratio Rank: 56
XTAP Martin Ratio Rank: 85

QTAP

QTAP Risk / Return Rank: 80
QTAP Sharpe Ratio Rank: 69
QTAP Sortino Ratio Rank: 76
QTAP Omega Ratio Rank: 95
QTAP Calmar Ratio Rank: 68
QTAP Martin Ratio Rank: 91

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. QTAP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Accelerated Plus ETF (XTAP) and Innovator Growth Accelerated Plus ETF - April (QTAP). 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	QTAP	Difference
Sharpe ratio Return per unit of total volatility	1.14	1.22	-0.07
Sortino ratio Return per unit of downside risk	1.76	1.94	-0.17
Omega ratio Gain probability vs. loss probability	1.44	1.48	-0.03
Calmar ratio Return relative to maximum drawdown	1.43	1.73	-0.30
Martin ratio Return relative to average drawdown	9.78	12.34	-2.56
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. QTAP - Sharpe Ratio Comparison

The current XTAP Sharpe Ratio is 1.14, which is comparable to the QTAP Sharpe Ratio of 1.22. The chart below compares the historical Sharpe Ratios of XTAP and QTAP, 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

	XTAP	QTAP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.14	1.22	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	0.62	+0.07

Correlation

The correlation between XTAP and QTAP is 0.90, 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. QTAP - Dividend Comparison

Neither XTAP nor QTAP has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

XTAP vs. QTAP - Drawdown Comparison

The maximum XTAP drawdown since its inception was -22.13%, smaller than the maximum QTAP drawdown of -29.44%. Use the drawdown chart below to compare losses from any high point for XTAP and QTAP.

Drawdown Indicators

	XTAP	QTAP	Difference
Max Drawdown Largest peak-to-trough decline	-22.13%	-29.44%	+7.31%
Max Drawdown (1Y) Largest decline over 1 year	-11.83%	-12.04%	+0.21%
Current Drawdown Current decline from peak	0.00%	-0.51%	+0.51%
Average Drawdown Average peak-to-trough decline	-3.57%	-5.21%	+1.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.73%	1.68%	+0.05%

Volatility

XTAP vs. QTAP - Volatility Comparison

Innovator U.S. Equity Accelerated Plus ETF (XTAP) and Innovator Growth Accelerated Plus ETF - April (QTAP) have volatilities of 0.77% and 0.76%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XTAP	QTAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.77%	0.76%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	2.52%	2.75%	-0.23%
Volatility (1Y) Calculated over the trailing 1-year period	14.33%	16.31%	-1.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.60%	19.02%	-4.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.60%	19.02%	-4.42%