XTJL vs. SMDD

Last updated Apr 2, 2026

Compare and contrast key facts about Innovator U.S. Equity Accelerated Plus ETF - July (XTJL) and ProShares UltraPro Short MidCap400 (SMDD).

XTJL and SMDD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XTJL is an actively managed fund by Innovator. It was launched on Jul 1, 2021. SMDD is a passively managed fund by ProShares that tracks the performance of the S&P MidCap 400 Index (-300%). It was launched on Feb 11, 2010.

Performance

XTJL vs. SMDD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Accelerated Plus ETF - July (XTJL) and ProShares UltraPro Short MidCap400 (SMDD). The values are adjusted to include any dividend payments, if applicable.

XTJL vs. SMDD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XTJL Innovator U.S. Equity Accelerated Plus ETF - July	-0.71%	15.42%	14.43%	25.72%	-15.66%	7.28%
SMDD ProShares UltraPro Short MidCap400	-10.57%	-27.46%	-31.02%	-38.37%	7.69%	-21.47%

Returns By Period

In the year-to-date period, XTJL achieves a -0.71% return, which is significantly higher than SMDD's -10.57% return.

XTJL

• 1D: 0.66%
• 1M: -1.72%
• YTD: -0.71%
• 6M: 1.81%
• 1Y: 16.00%
• 3Y*: 14.59%
• 5Y*: —
• 10Y*: —

SMDD

• 1D: -2.72%
• 1M: 16.07%
• YTD: -10.57%
• 6M: -13.86%
• 1Y: -45.30%
• 3Y*: -31.84%
• 5Y*: -27.12%
• 10Y*: -39.17%

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

XTJL vs. SMDD - Expense Ratio Comparison

XTJL has a 0.79% expense ratio, which is lower than SMDD's 0.95% expense ratio.

SMDD

ProShares UltraPro Short MidCap400

XTJL

Innovator U.S. Equity Accelerated Plus ETF - July

Return for Risk

XTJL vs. SMDD — Risk / Return Rank

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

XTJL

XTJL Risk / Return Rank: 55
XTJL Sharpe Ratio Rank: 45
XTJL Sortino Ratio Rank: 50
XTJL Omega Ratio Rank: 72
XTJL Calmar Ratio Rank: 41
XTJL Martin Ratio Rank: 66

SMDD

SMDD Risk / Return Rank: 3
SMDD Sharpe Ratio Rank: 2
SMDD Sortino Ratio Rank: 2
SMDD Omega Ratio Rank: 2
SMDD Calmar Ratio Rank: 2
SMDD Martin Ratio Rank: 5

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.

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 ratio Return per unit of total volatility	0.88	-0.72	+1.61
Sortino ratio Return per unit of downside risk	1.41	-0.86	+2.27
Omega ratio Gain probability vs. loss probability	1.28	0.89	+0.40
Calmar ratio Return relative to maximum drawdown	1.18	-0.69	+1.87
Martin ratio Return relative to average drawdown	7.45	-0.86	+8.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XTJL vs. SMDD - Sharpe Ratio Comparison

The current XTJL Sharpe Ratio is 0.88, which is higher than the SMDD Sharpe Ratio of -0.72. The chart below compares the historical Sharpe Ratios of XTJL and SMDD, 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

	XTJL	SMDD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.88	-0.72	+1.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.46	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.62	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	-0.69	+1.27

Correlation

The correlation between XTJL and SMDD is -0.81. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

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 5.21%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
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%
SMDD ProShares UltraPro Short MidCap400	5.21%	4.96%	4.09%	3.86%	0.14%	0.00%	0.13%	1.51%	0.09%

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.

Drawdown Indicators

	XTJL	SMDD	Difference
Max Drawdown Largest peak-to-trough decline	-23.24%	-99.99%	+76.75%
Max Drawdown (1Y) Largest decline over 1 year	-13.81%	-67.39%	+53.58%
Max Drawdown (5Y) Largest decline over 5 years	—	-85.18%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-99.45%	—
Current Drawdown Current decline from peak	-2.12%	-99.98%	+97.86%
Average Drawdown Average peak-to-trough decline	-4.18%	-92.89%	+88.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.19%	53.54%	-51.35%

Volatility

XTJL vs. SMDD - Volatility Comparison

The current volatility for Innovator U.S. Equity Accelerated Plus ETF - July (XTJL) is 4.50%, while ProShares UltraPro Short MidCap400 (SMDD) has a volatility of 19.19%. 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.

Volatility by Period

	XTJL	SMDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.50%	19.19%	-14.69%
Volatility (6M) Calculated over the trailing 6-month period	6.30%	35.81%	-29.51%
Volatility (1Y) Calculated over the trailing 1-year period	18.18%	63.00%	-44.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.46%	58.82%	-43.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.46%	63.27%	-47.81%