XTOC vs. XTAP

Last updated Jun 4, 2026

XTOC (Innovator U.S. Equity Accelerated Plus ETF - October) and XTAP (Innovator U.S. Equity Accelerated Plus ETF) are both exchange-traded funds - XTOC is a Options Trading fund actively managed by Innovator, while XTAP is a Leveraged Equities fund actively managed by Innovator. Both are actively managed. Over the past 3 years, XTOC returned 14.71%/yr vs 17.90%/yr for XTAP. Their correlation of 0.89 suggests significant overlap in exposure. Both charge a 0.79% expense ratio.

Performance

XTOC vs. XTAP - Performance Comparison

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

Returns By Period

In the year-to-date period, XTOC achieves a 7.31% return, which is significantly lower than XTAP's 10.96% return.

XTOC

• 1D: -0.20%
• 1M: 2.52%
• YTD: 7.31%
• 6M: 8.16%
• 1Y: 18.28%
• 3Y*: 14.71%
• 5Y*: —
• 10Y*: —

XTAP

• 1D: -0.21%
• 1M: 2.32%
• YTD: 10.96%
• 6M: 12.10%
• 1Y: 21.00%
• 3Y*: 17.90%
• 5Y*: 10.99%
• 10Y*: —

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

XTOC vs. XTAP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XTOC Innovator U.S. Equity Accelerated Plus ETF - October	7.31%	13.87%	10.47%	25.42%	-17.85%	6.18%
XTAP Innovator U.S. Equity Accelerated Plus ETF	10.96%	17.58%	14.26%	23.46%	-14.68%	4.66%

Correlation

The correlation between XTOC and XTAP is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (All Time) Calculated using the full available price history since Oct 4, 2021	0.89

The correlation between XTOC and XTAP has been stable across timeframes, ranging from 0.80 to 0.89 - a consistent structural relationship.

XTOC vs. XTAP - Sectors Allocation Comparison

Sectors	XTOC	XTAP
Technology	36.2%	33.6%
Financial Services	11.9%	12.2%
Communication Services	10.9%	10.5%
Consumer Cyclical	10.1%	10.0%
Healthcare	8.4%	9.5%
Industrials	8.1%	8.5%
Consumer Defensive	4.9%	5.3%
Energy	3.5%	4.0%
Utilities	2.3%	2.6%
Real Estate	1.9%	2.0%
Basic Materials	1.8%	1.9%

Return for Risk

XTOC vs. XTAP — Risk / Return Rank

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

XTOC

XTOC Risk / Return Rank: 63
XTOC Sharpe Ratio Rank: 60
XTOC Sortino Ratio Rank: 62
XTOC Omega Ratio Rank: 72
XTOC Calmar Ratio Rank: 51
XTOC Martin Ratio Rank: 72

XTAP

XTAP Risk / Return Rank: 98
XTAP Sharpe Ratio Rank: 97
XTAP Sortino Ratio Rank: 98
XTAP Omega Ratio Rank: 98
XTAP Calmar Ratio Rank: 98
XTAP Martin Ratio Rank: 98

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.

XTOC vs. XTAP - Risk-Adjusted Trends Comparison

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

	XTOC	XTAP	Difference
Sharpe ratio: Return per unit of total volatility	2.00	4.50	-2.50
Sortino ratio: Return per unit of downside risk	2.86	7.78	-4.91
Omega ratio: Gain probability vs. loss probability	1.42	2.22	-0.79
Calmar ratio: Return relative to maximum drawdown	2.48	14.82	-12.35
Martin ratio: Return relative to average drawdown	13.28	78.70	-65.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XTOC vs. XTAP - Sharpe Ratio Comparison

The current XTOC Sharpe Ratio is 2.00, which is lower than the XTAP Sharpe Ratio of 4.50. The chart below compares the historical Sharpe Ratios of XTOC and XTAP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XTOC	XTAP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.00	4.50	-2.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.76	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.80	-0.22

Drawdowns

XTOC vs. XTAP - Drawdown Comparison

The maximum XTOC drawdown since its inception was -24.09%, which is greater than XTAP's maximum drawdown of -22.13%. Use the drawdown chart below to compare losses from any high point for XTOC and XTAP.

Drawdown Indicators

	XTOC	XTAP	Difference
Max Drawdown Largest peak-to-trough decline	-24.09%	-22.13%	-1.96%
Max Drawdown (1Y) Largest decline over 1 year	-7.41%	-1.42%	-5.99%
Max Drawdown (3Y) Largest decline over 3 years	-18.02%	-11.83%	-6.19%
Max Drawdown (5Y) Largest decline over 5 years	—	-22.13%	—
Current Drawdown Current decline from peak	-0.20%	-0.21%	+0.01%
Average Drawdown Average peak-to-trough decline	-4.87%	-3.45%	-1.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.38%	0.27%	+1.11%

Volatility

XTOC vs. XTAP - Volatility Comparison

Innovator U.S. Equity Accelerated Plus ETF - October (XTOC) and Innovator U.S. Equity Accelerated Plus ETF (XTAP) have volatilities of 1.11% and 1.10%, 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

	XTOC	XTAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.11%	1.10%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	7.51%	3.16%	+4.35%
Volatility (1Y) Calculated over the trailing 1-year period	9.19%	4.70%	+4.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.16%	14.54%	+0.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.16%	14.41%	+0.75%

XTOC vs. XTAP - Expense Ratio Comparison

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

Dividends

XTOC vs. XTAP - Dividend Comparison

Neither XTOC nor XTAP has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XTOC and XTAP in my portfolio?

XTOC and XTAP have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XTOC or XTAP?

XTOC has higher volatility (1.11%) compared to XTAP (1.10%). In terms of maximum drawdown, XTOC dropped -24.09% vs XTAP's -22.13%.

Which ETF is better, XTOC or XTAP?

On 3-year performance, XTAP leads with 17.90% vs 14.71% for XTOC. Both ETFs have the same 0.79% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XTOC or XTAP?

Over the 3-year period, XTAP has performed better with a 17.90% return vs 14.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XTOC or XTAP?

XTOC and XTAP have the same expense ratio: 0.79% per year.

Which ETF pays a higher dividend yield, XTOC or XTAP?

XTOC and XTAP have nearly identical dividend yields, around 0.00%.

What is the main difference between XTOC and XTAP?

XTOC is categorized as Options Trading, while XTAP is Leveraged Equities.

Which has better risk-adjusted returns?

XTAP currently has the higher Sharpe Ratio (4.50 vs 2.00), 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.