XTJL vs. SMDD
XTJL (Innovator U.S. Equity Accelerated Plus ETF - July) and SMDD (ProShares UltraPro Short MidCap400) are both Leveraged Equities funds. XTJL is actively managed, while SMDD is passively managed. Over the past 5 years, XTJL returned 9.55%/yr vs -29.66%/yr for SMDD. Their -0.80 correlation means they have often moved in opposite directions in the past. XTJL charges 0.79%/yr vs 0.95%/yr for SMDD.
Performance
XTJL vs. SMDD - Performance Comparison
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Returns By Period
In the year-to-date period, XTJL achieves a 6.32% return, which is significantly higher than SMDD's -34.07% return.
XTJL
- 1D
- 0.76%
- 1M
- 0.96%
- 6M
- 5.49%
- YTD
- 6.32%
- 1Y
- 14.27%
- 3Y*
- 13.98%
- 5Y*
- 9.55%
- 10Y*
- —
- ALL TIME*
- 9.76%
SMDD
- 1D
- 0.12%
- 1M
- 3.72%
- 6M
- -26.03%
- YTD
- -34.07%
- 1Y
- -46.01%
- 3Y*
- -33.04%
- 5Y*
- -29.66%
- 10Y*
- -39.58%
- ALL TIME*
- -42.41%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $53.27K | $77.83K | $71.85K | |
| $26.11K | $26.81K | $267.40K |
XTJL vs. SMDD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XTJL Innovator U.S. Equity Accelerated Plus ETF - July | 6.32% | 15.42% | 14.43% | 25.72% | -15.66% | 7.81% |
SMDD ProShares UltraPro Short MidCap400 | -34.07% | -27.46% | -31.02% | -38.37% | 7.69% | -23.34% |
Correlation
The correlation between XTJL and SMDD is -0.71, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.71 |
Correlation (3Y) Balances recent behavior with more history. | -0.73 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.80 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2021 | -0.80 |
The correlation between XTJL and SMDD has been stable across timeframes, ranging from -0.80 to -0.71 - a consistent structural relationship.
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Return for Risk
XTJL vs. SMDD — Risk / Return Rank
XTJL
SMDD
XTJL vs. SMDD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Accelerated Plus ETF - July (XTJL) and ProShares UltraPro Short MidCap400 (SMDD). 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.
| XTJL | SMDD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.61 | ||
| Sortino ratioReturn per unit of downside risk | +3.78 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 0.85 | +0.51 |
| Calmar ratioReturn relative to maximum drawdown | 2.55 | -0.87 | +3.43 |
| Martin ratioReturn relative to average drawdown | 14.07 | -1.44 | +15.50 |
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Drawdowns
XTJL vs. SMDD - Drawdown Comparison
The maximum XTJL drawdown since its inception was -23.24%, smaller than the maximum SMDD drawdown of -99.99%. Use the drawdown chart below to compare losses from any high point for XTJL and SMDD.
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Drawdown Indicators
| XTJL | SMDD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.24% | -99.99% | +76.75% |
Max Drawdown (1Y)Largest decline over 1 year | -5.12% | -50.01% | +44.89% |
Max Drawdown (3Y)Largest decline over 3 years | -16.70% | -82.62% | +65.92% |
Max Drawdown (5Y)Largest decline over 5 years | -23.24% | -88.24% | +65.00% |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.45% | — |
Current DrawdownCurrent decline from peak | -0.09% | -99.99% | +99.90% |
Average DrawdownAverage peak-to-trough decline | -3.92% | -93.01% | +89.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.93% | 30.36% | -29.43% |
Volatility
XTJL vs. SMDD - Volatility Comparison
The current volatility for Innovator U.S. Equity Accelerated Plus ETF - July (XTJL) is 2.90%, while ProShares UltraPro Short MidCap400 (SMDD) has a volatility of 9.96%. This indicates that XTJL experiences smaller price fluctuations and is considered to be less risky than SMDD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XTJL | SMDD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.90% | 9.96% | -7.06% |
Volatility (6M)Calculated over the trailing 6-month period | 6.12% | 35.01% | -28.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.79% | 47.21% | -39.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.11% | 58.59% | -43.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.03% | 63.23% | -48.20% |
XTJL vs. SMDD - Expense Ratio Comparison
XTJL has a 0.79% expense ratio, which is lower than SMDD's 0.95% expense ratio.
Dividends
XTJL vs. SMDD - Dividend Comparison
XTJL has not paid dividends to shareholders, while SMDD's dividend yield for the trailing twelve months is around 5.67%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SMDD ProShares UltraPro Short MidCap400 | 5.67% | 4.96% | 4.09% | 3.86% | 0.14% | 0.00% | 0.13% | 1.51% | 0.09% |
XTJL Innovator U.S. Equity Accelerated Plus ETF - July | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XTJL and SMDD have a correlation of -0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMDD has higher volatility (9.96%) compared to XTJL (2.90%). In terms of maximum drawdown, XTJL dropped -23.24% vs SMDD's -99.99%.
On 5-year performance, XTJL leads with 9.55% vs -29.66% for SMDD. On fees, XTJL is cheaper at 0.79% per year. On volatility, XTJL has been the lower-risk option at 2.90%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, XTJL has performed better with a 9.55% return vs -29.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XTJL is cheaper with a 0.79% expense ratio, compared with 0.95% for SMDD.
SMDD has the higher dividend yield at 5.67%, compared with 0.00% for XTJL.
They also come from different issuers: Innovator and ProShares. Their fees differ too: 0.79% for XTJL and 0.95% for SMDD.
XTJL currently has the higher Sharpe Ratio (1.68 vs -0.93), 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.
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