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TWOX vs XTAP

iShares Large Cap Accelerated Outcome ETF

TWOXACboe

Innovator U.S. Equity Accelerated Plus ETF

XTAPBCboe

Overlap

Expense ratio

TWOX −0.26pt a year

TWOX0.53%XTAP0.79%

Avg volume · 30D

TWOX 3.2×the volume

TWOX4.75KXTAP1.47K

TWOX vs XTAP Performance

Oct 31, 2025 – Oct 30, 2026

+9.3%TWOX+17.3%XTAP

Oct 31, 2025 to Oct 30, 2026. TWOX +9.3%. XTAP +17.3%. Use the arrow keys to read each point.−5%0%5%Oct 2025Apr 2026Oct 2026
Expense ratio
TWOX 0.53%, better
XTAP 0.79%
Fund size
TWOX $23M
XTAP $19M
1Y total return
TWOX +9.3%
XTAP +17.3%, better
Holdings
TWOX 4
XTAP 5
Avg volume (30D)
TWOX 4.75K sh, better
XTAP 1.47K sh
NAV per share
TWOX $30.01
XTAP $46.72
52W range

ETF.net Grade

TWOX: Cost 97, Risk 34, Mission not scored, Tradability 69, Holdings 57, Durability 72. XTAP: Cost 63, Risk 88, Mission not scored, Tradability 45, Holdings 57, Durability 70.
Pillar letters and Scores for TWOX, XTAP, with each pillar’s weight
PillarTWOXXTAP
Cost30% weightA97HigherB63
Mission25% weightNot scoredNot scored
Risk15% weightD34A88Higher
Tradability15% weightB69HigherC45
Holdings10% weightB57B57
Durability5% weightA72HigherA70

Rank among S&P 500 Accelerated funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. TWOX and XTAP are both graded against the same 12 S&P 500 Accelerated funds, so their Grades compare head to head.

S&P 500 Accelerated⁠

Category · 12 funds
See all 12 ›

TWOX ranks 1st and XTAP 2nd of 12 funds in the S&P 500 Accelerated Category.

  1. Rank 1ATWOXiShares Large Cap Accelerated Outcome ETFScore 74
  2. Rank 2BXTAPInnovator U.S. Equity Accelerated Plus ETFScore 65
  3. Rank 3BXDSQInnovator U.S. Equity Accelerated ETFScore 61

Our read on each fund

ETF.net Research

TWOXAiShares Large Cap Accelerated Outcome ETF

XTAPBInnovator U.S. Equity Accelerated Plus ETF

In short

TWOX No data

XTAP Most equity funds hand you the market's move. XTAP aims to triple the S&P 500's gain over an April-to-March year, up to a cap, while taking declines roughly one for one. No buffer, no daily reset: you trade a ceiling for acceleration.

Stated mandate

TWOX No data

XTAP The fund seeks three times the increase of its S&P 500-tracking Underlying ETF over the annual April 1–March 31 outcome period, subject to a cap. It bears Underlying ETF losses one-for-one and provides no buffer; the current period is April 1, 2026 through March 31, 2027, with a 19.47% pre-fee cap.

Why people hold it

TWOX No data

  • XTAP Triples the index's upside to a cap using options that reset each April 1. No daily reset, no compounding drift from holding through a choppy stretch, no borrowed money.innovatoretfs.com
  • At 0.79% it sits at the going rate for accelerated funds and undercuts First Trust's enhance-and-buffer siblings on the same index (XMAR, XJUN) at 0.85%.
  • Live since 2021 and built to roll: the fund resets at the end of each outcome period and can be held straight through, so there is no annual ticker swap.innovatoretfs.com
  • One of the stronger implementations in its accelerated S&P 500 peer group on cost and structure.

Worth knowing

TWOX No data

  • XTAP The ceiling is the whole bargain. Upside stops at the cap, which is reset for each new period, and mid-period buyers get whatever cap is left rather than the headline number.innovatoretfs.com
  • No buffer here. Index declines land on you roughly one for one, and the outcomes are designed around holding from the first day of the period to the last.innovatoretfs.com
  • A small, lightly traded fund with no distributions in the past year, so wider spreads and a total-return-only profile come with the package.

Full TWOX profile⁠

Full XTAP profile⁠

TWOX vs XTAP Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

TWOX vs XTAP Cost

Overpaying XTAP vs TWOX

$4,638

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • TWOX 0.53%

    $10,536

  • XTAP 0.79%

    $15,174

$10,000
30 years

Cost over time

  • TWOX 0.53%
  • XTAP 0.79%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530XTAP $15,174TWOX $10,536

Year by year

YearTWOXXTAPOverpaying
10$953$1,405$452
20$3,658$5,331$1,673
30$10,536$15,174$4,638

Expense ratio

  • 0.53%TWOX, cheaper
  • 0.79%XTAP
  • Middle half of S&P 500 Accelerated funds
  • Median 0.79%

TWOX cheapest of 12 funds

XTAP 3rd cheapest of 12 funds

TWOX vs XTAP Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
TWOX No data
XTAP None
Last payment
TWOX $0.16
XTAP No data
Ex-dividend
TWOX Dec 23, 2025
XTAP No data
Paid on
TWOX Dec 29, 2025
XTAP No data
Frequency
TWOX Irregular
XTAP No data

Distribution history

Per share, 2025 to 2026, same scale for both

TWOXIrregular · 1 paymentAll TWOX payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 23, 2025 $0.16. Use the arrow keys to read each point.$0$0.102026YTD
XTAPAll XTAP payments⁠

No distribution history available.

TWOX vs XTAP Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
TWOX 10.3%since Feb 2025XTAP 6.8%
Return per unit of riskSharpe ratio, 3 years
TWOX 0.63since Feb 2025XTAP 1.97
Worst fallMax drawdown, 5 years
TWOX −19.3%since Jan 2025XTAP −22.1%
Market sensitivityBeta, 5 years
TWOX 0.73XTAP 0.48

Popular comparisons

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