XUSP vs. QTJL

Last updated Aug 2, 2026

XUSP (Innovator Uncapped Accelerated U.S. Equity ETF) and QTJL (Innovator Growth Accelerated Plus ETF - July) are both exchange-traded funds - XUSP is a Options Trading fund actively managed by Innovator, while QTJL is a Leveraged Equities fund actively managed by Innovator. Both are actively managed. Over the past 3 years, XUSP returned 21.09%/yr vs 15.99%/yr for QTJL. Their correlation of 0.87 means they have usually moved in the same direction. Both charge a 0.79% expense ratio.

Performance

XUSP vs. QTJL - Performance Comparison

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

Returns By Period

In the year-to-date period, XUSP achieves a 10.22% return, which is significantly higher than QTJL's 2.56% return.

XUSP

• 1D: 1.10%
• 1M: 0.00%
• 6M: 8.64%
• YTD: 10.22%
• 1Y: 23.97%
• 3Y*: 21.09%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.06%

QTJL

• 1D: 0.93%
• 1M: -1.97%
• 6M: 1.77%
• YTD: 2.56%
• 1Y: 11.97%
• 3Y*: 15.99%
• 5Y*: 9.06%
• 10Y*: —
• ALL TIME*: 9.33%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
QTJL Innovator Growth Accelerated Plus ETF - July	$200.88K	$354.66K	$247.25K
XUSP Innovator Uncapped Accelerated U.S. Equity ETF	$160.15K	$235.06K	$257.19K

XUSP vs. QTJL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
XUSP Innovator Uncapped Accelerated U.S. Equity ETF	10.22%	18.27%	30.60%	26.46%	-10.20%
QTJL Innovator Growth Accelerated Plus ETF - July	2.56%	21.07%	16.50%	42.39%	-10.64%

Correlation

The correlation between XUSP and QTJL is 0.85, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.85
Correlation (3Y) Balances recent behavior with more history.	0.86
Correlation (All Time) Calculated using the full available price history since Aug 11, 2022	0.87

The correlation between XUSP and QTJL has been stable across timeframes, ranging from 0.85 to 0.87 - a consistent structural relationship.

Return for Risk

XUSP vs. QTJL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

XUSP

XUSP Risk / Return Rank: 50
XUSP Sharpe Ratio Rank: 50
XUSP Sortino Ratio Rank: 49
XUSP Omega Ratio Rank: 47
XUSP Calmar Ratio Rank: 49
XUSP Martin Ratio Rank: 57

QTJL

QTJL Risk / Return Rank: 39
QTJL Sharpe Ratio Rank: 36
QTJL Sortino Ratio Rank: 35
QTJL Omega Ratio Rank: 38
QTJL Calmar Ratio Rank: 36
QTJL Martin Ratio Rank: 52

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

XUSP vs. QTJL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Uncapped Accelerated U.S. Equity ETF (XUSP) and Innovator Growth Accelerated Plus ETF - July (QTJL). 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.

	XUSP	QTJL	Difference
Sharpe ratio: Return per unit of total volatility	1.24	0.89	+0.35
Sortino ratio: Return per unit of downside risk	1.75	1.33	+0.42
Omega ratio: Gain probability vs. loss probability	1.22	1.18	+0.03
Calmar ratio: Return relative to maximum drawdown	1.77	1.23	+0.54
Martin ratio: Return relative to average drawdown	6.76	6.04	+0.72

XUSP vs. QTJL - Sharpe Ratio Comparison

The current XUSP Sharpe Ratio is 1.24, which is higher than the QTJL Sharpe Ratio of 0.89. The chart below compares the historical Sharpe Ratios of XUSP and QTJL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

XUSP vs. QTJL - Drawdown Comparison

The maximum XUSP drawdown since its inception was -22.59%, smaller than the maximum QTJL drawdown of -33.40%. Use the drawdown chart below to compare losses from any high point for XUSP and QTJL.

Drawdown Indicators

	XUSP	QTJL	Difference
Max Drawdown Largest peak-to-trough decline	-22.59%	-33.40%	+10.81%
Max Drawdown (1Y) Largest decline over 1 year	-12.13%	-8.48%	-3.65%
Max Drawdown (3Y) Largest decline over 3 years	-22.59%	-22.43%	-0.16%
Max Drawdown (5Y) Largest decline over 5 years	—	-33.40%	—
Current Drawdown Current decline from peak	-3.02%	-4.62%	+1.60%
Average Drawdown Average peak-to-trough decline	-4.37%	-7.74%	+3.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.17%	1.73%	+1.44%

Volatility

XUSP vs. QTJL - Volatility Comparison

The current volatility for Innovator Uncapped Accelerated U.S. Equity ETF (XUSP) is 4.75%, while Innovator Growth Accelerated Plus ETF - July (QTJL) has a volatility of 6.45%. This indicates that XUSP experiences smaller price fluctuations and is considered to be less risky than QTJL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XUSP	QTJL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.75%	6.45%	-1.70%
Volatility (6M) Calculated over the trailing 6-month period	13.37%	9.63%	+3.74%
Volatility (1Y) Calculated over the trailing 1-year period	17.29%	11.72%	+5.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.25%	20.43%	-1.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.25%	20.30%	-1.05%

XUSP vs. QTJL - Expense Ratio Comparison

Both XUSP and QTJL have an expense ratio of 0.79%.

Dividends

XUSP vs. QTJL - Dividend Comparison

Neither XUSP nor QTJL has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XUSP and QTJL in my portfolio?

XUSP and QTJL 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, XUSP or QTJL?

QTJL has higher volatility (6.45%) compared to XUSP (4.75%). In terms of maximum drawdown, XUSP dropped -22.59% vs QTJL's -33.40%.

Which ETF is better, XUSP or QTJL?

On 3-year performance, XUSP leads with 21.09% vs 15.99% for QTJL. Both ETFs have the same 0.79% expense ratio. On volatility, XUSP has been the lower-risk option at 4.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XUSP or QTJL?

Over the 3-year period, XUSP has performed better with a 21.09% return vs 15.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XUSP or QTJL?

XUSP and QTJL have the same expense ratio: 0.79% per year.

Which ETF pays a higher dividend yield, XUSP or QTJL?

XUSP and QTJL have nearly identical dividend yields, around 0.00%.

What is the main difference between XUSP and QTJL?

XUSP is categorized as Options Trading, while QTJL is Leveraged Equities.

Which has better risk-adjusted returns?

XUSP currently has the higher Sharpe Ratio (1.24 vs 0.89), 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.