ZETX vs. QTAP
ZETX (Defiance Daily Target 2X Long ZETA ETF) and QTAP (Innovator Growth Accelerated Plus ETF - April) are both Leveraged Equities funds. Both are actively managed. At a 0.32 correlation, their price movements are largely independent. ZETX charges 1.31%/yr vs 0.79%/yr for QTAP.
Performance
ZETX vs. QTAP - Performance Comparison
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Returns By Period
ZETX
- 1D
- -1.49%
- 1M
- -25.07%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QTAP
- 1D
- -0.49%
- 1M
- -1.10%
- 6M
- 13.38%
- YTD
- 13.41%
- 1Y
- 20.31%
- 3Y*
- 19.46%
- 5Y*
- 12.50%
- 10Y*
- —
ZETX vs. QTAP - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
ZETX Defiance Daily Target 2X Long ZETA ETF | 11.86% |
QTAP Innovator Growth Accelerated Plus ETF - April | 12.67% |
Correlation
The correlation between ZETX and QTAP is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Feb 4, 2026 | 0.32 |
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Return for Risk
ZETX vs. QTAP — Risk / Return Rank
ZETX
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
QTAP
ZETX vs. QTAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long ZETA ETF (ZETX) and Innovator Growth Accelerated Plus ETF - April (QTAP). 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.
| ZETX | QTAP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.85 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 8.40 | — |
| Martin ratioReturn relative to average drawdown | — | 44.47 | — |
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Drawdowns
ZETX vs. QTAP - Drawdown Comparison
The maximum ZETX drawdown since its inception was -52.42%, which is greater than QTAP's maximum drawdown of -29.44%. Use the drawdown chart below to compare losses from any high point for ZETX and QTAP.
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Drawdown Indicators
| ZETX | QTAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.42% | -29.44% | -22.98% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.49% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -13.03% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -29.44% | — |
Current DrawdownCurrent decline from peak | -36.55% | -1.20% | -35.35% |
Average DrawdownAverage peak-to-trough decline | -22.86% | -4.97% | -17.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.47% | — |
Volatility
ZETX vs. QTAP - Volatility Comparison
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Volatility by Period
| ZETX | QTAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 3.19% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 5.06% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 141.91% | 6.12% | +135.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 141.91% | 18.92% | +122.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 141.91% | 18.67% | +123.24% |
ZETX vs. QTAP - Expense Ratio Comparison
ZETX has a 1.31% expense ratio, which is higher than QTAP's 0.79% expense ratio.
Dividends
ZETX vs. QTAP - Dividend Comparison
Neither ZETX nor QTAP has paid dividends to shareholders.
Frequently Asked Questions
ZETX and QTAP have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, QTAP is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.
QTAP is cheaper with a 0.79% expense ratio, compared with 1.31% for ZETX.
ZETX and QTAP have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Defiance and Innovator. Their fees differ too: 1.31% for ZETX and 0.79% for QTAP.
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