BOCT vs. QB

Last updated Jul 14, 2026

BOCT (Innovator U.S. Equity Buffer ETF October) and QB (ProShares Nasdaq-100 Dynamic Daily Buffer ETF) are both Defined Outcome funds - BOCT tracks the S&P 500 Price Return Index while QB tracks the Nasdaq-100. Both are passively managed. Over the past year, BOCT returned 16.48% vs 18.28% for QB. A 0.77 correlation means they provide meaningful diversification when combined. BOCT charges 0.79%/yr vs 0.58%/yr for QB.

Performance

BOCT vs. QB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Buffer ETF October (BOCT) and ProShares Nasdaq-100 Dynamic Daily Buffer ETF (QB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BOCT achieves a 7.70% return, which is significantly lower than QB's 12.15% return.

BOCT

• 1D: -0.43%
• 1M: 1.27%
• 6M: 6.34%
• YTD: 7.70%
• 1Y: 16.48%
• 3Y*: 13.19%
• 5Y*: 10.48%
• 10Y*: —

QB

• 1D: -0.14%
• 1M: 3.02%
• 6M: 10.85%
• YTD: 12.15%
• 1Y: 18.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BOCT vs. QB - Yearly Performance Comparison

	2026 (YTD)	2025
BOCT Innovator U.S. Equity Buffer ETF October	7.70%	10.34%
QB ProShares Nasdaq-100 Dynamic Daily Buffer ETF	12.15%	6.10%

Correlation

The correlation between BOCT and QB is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.77

The correlation between BOCT and QB has been stable across timeframes, ranging from 0.77 to 0.77 - a consistent structural relationship.

BOCT vs. QB - Sectors Allocation Comparison

Sectors	BOCT	QB
Technology	38.4%	49.9%
Financial Services	11.0%	0.2%
Communication Services	10.8%	16.4%
Consumer Cyclical	10.0%	12.5%
Healthcare	8.4%	5.3%
Industrials	7.9%	3.7%
Consumer Defensive	4.6%	8.6%
Energy	3.2%	0.6%
Utilities	2.1%	1.6%
Real Estate	1.8%	0.1%
Basic Materials	1.7%	1.3%

Return for Risk

BOCT vs. QB — Risk / Return Rank

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

BOCT

BOCT Risk / Return Rank: 78
BOCT Sharpe Ratio Rank: 79
BOCT Sortino Ratio Rank: 79
BOCT Omega Ratio Rank: 81
BOCT Calmar Ratio Rank: 69
BOCT Martin Ratio Rank: 82

QB

QB Risk / Return Rank: 94
QB Sharpe Ratio Rank: 93
QB Sortino Ratio Rank: 94
QB Omega Ratio Rank: 95
QB Calmar Ratio Rank: 93
QB Martin Ratio Rank: 96

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.

BOCT vs. QB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Buffer ETF October (BOCT) and ProShares Nasdaq-100 Dynamic Daily Buffer ETF (QB). 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.

	BOCT	QB	Difference
Sharpe ratio: Return per unit of total volatility	1.99	2.62	-0.63
Sortino ratio: Return per unit of downside risk	2.80	3.81	-1.01
Omega ratio: Gain probability vs. loss probability	1.38	1.62	-0.24
Calmar ratio: Return relative to maximum drawdown	2.72	5.28	-2.56
Martin ratio: Return relative to average drawdown	12.80	25.48	-12.68

BOCT vs. QB - Sharpe Ratio Comparison

The current BOCT Sharpe Ratio is 1.99, which is comparable to the QB Sharpe Ratio of 2.62. The chart below compares the historical Sharpe Ratios of BOCT and QB, 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

BOCT vs. QB - Drawdown Comparison

The maximum BOCT drawdown since its inception was -24.54%, which is greater than QB's maximum drawdown of -3.47%. Use the drawdown chart below to compare losses from any high point for BOCT and QB.

Drawdown Indicators

	BOCT	QB	Difference
Max Drawdown Largest peak-to-trough decline	-24.54%	-3.47%	-21.07%
Max Drawdown (1Y) Largest decline over 1 year	-6.09%	-3.47%	-2.62%
Max Drawdown (3Y) Largest decline over 3 years	-13.61%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-14.29%	—	—
Current Drawdown Current decline from peak	-0.43%	-0.31%	-0.12%
Average Drawdown Average peak-to-trough decline	-2.57%	-0.42%	-2.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.29%	0.72%	+0.57%

Volatility

BOCT vs. QB - Volatility Comparison

The current volatility for Innovator U.S. Equity Buffer ETF October (BOCT) is 2.31%, while ProShares Nasdaq-100 Dynamic Daily Buffer ETF (QB) has a volatility of 3.05%. This indicates that BOCT experiences smaller price fluctuations and is considered to be less risky than QB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BOCT	QB	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.31%	3.05%	-0.74%
Volatility (6M) Calculated over the trailing 6-month period	6.51%	5.83%	+0.68%
Volatility (1Y) Calculated over the trailing 1-year period	8.35%	7.03%	+1.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.16%	6.93%	+4.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.76%	6.93%	+6.83%

BOCT vs. QB - Expense Ratio Comparison

BOCT has a 0.79% expense ratio, which is higher than QB's 0.58% expense ratio.

Dividends

BOCT vs. QB - Dividend Comparison

BOCT has not paid dividends to shareholders, while QB's dividend yield for the trailing twelve months is around 0.78%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BOCT Innovator U.S. Equity Buffer ETF October	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.20%
QB ProShares Nasdaq-100 Dynamic Daily Buffer ETF	0.78%	0.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BOCT and QB in my portfolio?

BOCT and QB have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BOCT or QB?

QB has higher volatility (3.05%) compared to BOCT (2.31%). In terms of maximum drawdown, BOCT dropped -24.54% vs QB's -3.47%.

Which ETF is better, BOCT or QB?

On 1-year performance, QB leads with 18.28% vs 16.48% for BOCT. On fees, QB is cheaper at 0.58% per year. On volatility, BOCT has been the lower-risk option at 2.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BOCT or QB?

Over the 1-year period, QB has performed better with a 18.28% return vs 16.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BOCT or QB?

QB is cheaper with a 0.58% expense ratio, compared with 0.79% for BOCT.

Which ETF pays a higher dividend yield, BOCT or QB?

QB has the higher dividend yield at 0.78%, compared with 0.00% for BOCT.

What is the main difference between BOCT and QB?

BOCT tracks S&P 500 Price Return Index, while QB tracks Nasdaq-100. They also come from different issuers: Innovator and ProShares. Their fees differ too: 0.79% for BOCT and 0.58% for QB.

Which has better risk-adjusted returns?

QB currently has the higher Sharpe Ratio (2.62 vs 1.99), 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.