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 3 years, XTJL returned 14.67%/yr vs -39.03%/yr for SMDD. At a correlation of -0.81, they often move in opposite directions. 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 5.38% return, which is significantly higher than SMDD's -34.17% return.
XTJL
- 1D
- 0.02%
- 1M
- 1.01%
- YTD
- 5.38%
- 6M
- 6.35%
- 1Y
- 15.58%
- 3Y*
- 14.67%
- 5Y*
- —
- 10Y*
- —
SMDD
- 1D
- -1.03%
- 1M
- -8.01%
- YTD
- -34.17%
- 6M
- -33.48%
- 1Y
- -49.82%
- 3Y*
- -39.03%
- 5Y*
- -29.74%
- 10Y*
- -40.10%
XTJL vs. SMDD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XTJL Innovator U.S. Equity Accelerated Plus ETF - July | 5.38% | 15.42% | 14.43% | 25.72% | -15.66% | 7.28% |
SMDD ProShares UltraPro Short MidCap400 | -34.17% | -27.46% | -31.02% | -38.37% | 7.69% | -21.47% |
Correlation
The correlation between XTJL and SMDD is -0.71, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.73 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2021 | -0.81 |
The correlation between XTJL and SMDD has been stable across timeframes, ranging from -0.81 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.
| XTJL | SMDD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.18 | ||
| Sortino ratioReturn per unit of downside risk | +4.77 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 0.81 | +0.65 |
| Calmar ratioReturn relative to maximum drawdown | 3.06 | -0.98 | +4.04 |
| Martin ratioReturn relative to average drawdown | 17.30 | -1.67 | +18.97 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XTJL | SMDD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.11 | -1.07 | +3.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.51 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.63 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | -0.71 | +1.35 |
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% | -50.84% | +45.72% |
Max Drawdown (3Y)Largest decline over 3 years | -16.70% | -81.25% | +64.55% |
Max Drawdown (5Y)Largest decline over 5 years | — | -87.31% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -99.50% | — |
Current DrawdownCurrent decline from peak | 0.00% | -99.99% | +99.99% |
Average DrawdownAverage peak-to-trough decline | -4.04% | -92.96% | +88.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | 29.85% | -28.95% |
Volatility
XTJL vs. SMDD - Volatility Comparison
The current volatility for Innovator U.S. Equity Accelerated Plus ETF - July (XTJL) is 0.31%, while ProShares UltraPro Short MidCap400 (SMDD) has a volatility of 12.68%. 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 | 0.31% | 12.68% | -12.37% |
Volatility (6M)Calculated over the trailing 6-month period | 5.72% | 34.29% | -28.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.42% | 46.57% | -39.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.21% | 58.82% | -43.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.21% | 63.33% | -48.12% |
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 7.08%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SMDD ProShares UltraPro Short MidCap400 | 7.08% | 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 (12.68%) compared to XTJL (0.31%). In terms of maximum drawdown, XTJL dropped -23.24% vs SMDD's -99.99%.
On 3-year performance, XTJL leads with 14.67% vs -39.03% for SMDD. On fees, XTJL is cheaper at 0.79% per year. On volatility, XTJL has been the lower-risk option at 0.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, XTJL has performed better with a 14.67% return vs -39.03%. 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 7.08%, 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 (2.11 vs -1.07), 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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