BOCT vs. QMAR

Last updated Jun 4, 2026

BOCT (Innovator U.S. Equity Buffer ETF October) and QMAR (FT Cboe Vest Nasdaq-100 Buffer ETF - March) are both exchange-traded funds - BOCT is a Defined Outcome fund tracking the S&P 500 Price Return Index, while QMAR is a Nasdaq-100 fund actively managed by First Trust. BOCT is passively managed, while QMAR is actively managed. Over the past 5 years, BOCT returned 10.56%/yr vs 12.13%/yr for QMAR. Their correlation of 0.86 suggests significant overlap in exposure. BOCT charges 0.79%/yr vs 0.90%/yr for QMAR.

Performance

BOCT vs. QMAR - Performance Comparison

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

Returns By Period

In the year-to-date period, BOCT achieves a 7.17% return, which is significantly lower than QMAR's 13.06% return.

BOCT

• 1D: -0.15%
• 1M: 2.95%
• YTD: 7.17%
• 6M: 7.69%
• 1Y: 20.28%
• 3Y*: 14.58%
• 5Y*: 10.56%
• 10Y*: —

QMAR

• 1D: -0.09%
• 1M: 2.81%
• YTD: 13.06%
• 6M: 14.01%
• 1Y: 23.38%
• 3Y*: 16.73%
• 5Y*: 12.13%
• 10Y*: —

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

BOCT vs. QMAR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BOCT Innovator U.S. Equity Buffer ETF October	7.17%	14.34%	12.36%	21.13%	-8.14%	11.58%
QMAR FT Cboe Vest Nasdaq-100 Buffer ETF - March	13.06%	10.89%	16.11%	35.47%	-16.56%	12.31%

Correlation

The correlation between BOCT and QMAR is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since Mar 23, 2021	0.86

The correlation between BOCT and QMAR has been stable across timeframes, ranging from 0.82 to 0.87 - a consistent structural relationship.

BOCT vs. QMAR - Sectors Allocation Comparison

Sectors	BOCT	QMAR
Technology	36.2%	54.2%
Financial Services	11.9%	0.2%
Communication Services	10.9%	15.5%
Consumer Cyclical	10.1%	12.2%
Healthcare	8.4%	4.2%
Industrials	8.1%	2.8%
Consumer Defensive	4.9%	7.6%
Energy	3.5%	0.6%
Utilities	2.3%	1.4%
Real Estate	1.9%	0.1%
Basic Materials	1.8%	1.2%

Return for Risk

BOCT vs. QMAR — Risk / Return Rank

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

BOCT

BOCT Risk / Return Rank: 77
BOCT Sharpe Ratio Rank: 77
BOCT Sortino Ratio Rank: 78
BOCT Omega Ratio Rank: 80
BOCT Calmar Ratio Rank: 68
BOCT Martin Ratio Rank: 81

QMAR

QMAR Risk / Return Rank: 96
QMAR Sharpe Ratio Rank: 95
QMAR Sortino Ratio Rank: 97
QMAR Omega Ratio Rank: 97
QMAR Calmar Ratio Rank: 94
QMAR Martin Ratio Rank: 97

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. QMAR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Buffer ETF October (BOCT) and FT Cboe Vest Nasdaq-100 Buffer ETF - March (QMAR). 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.

	BOCT	QMAR	Difference
Sharpe ratio: Return per unit of total volatility	2.49	3.86	-1.37
Sortino ratio: Return per unit of downside risk	3.50	6.05	-2.55
Omega ratio: Gain probability vs. loss probability	1.48	1.93	-0.45
Calmar ratio: Return relative to maximum drawdown	3.34	7.31	-3.96
Martin ratio: Return relative to average drawdown	16.08	52.66	-36.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BOCT vs. QMAR - Sharpe Ratio Comparison

The current BOCT Sharpe Ratio is 2.49, which is lower than the QMAR Sharpe Ratio of 3.86. The chart below compares the historical Sharpe Ratios of BOCT and QMAR, 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

	BOCT	QMAR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.49	3.86	-1.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.96	0.87	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	0.91	-0.14

Drawdowns

BOCT vs. QMAR - Drawdown Comparison

The maximum BOCT drawdown since its inception was -24.54%, which is greater than QMAR's maximum drawdown of -19.83%. Use the drawdown chart below to compare losses from any high point for BOCT and QMAR.

Drawdown Indicators

	BOCT	QMAR	Difference
Max Drawdown Largest peak-to-trough decline	-24.54%	-19.83%	-4.71%
Max Drawdown (1Y) Largest decline over 1 year	-6.09%	-3.21%	-2.88%
Max Drawdown (3Y) Largest decline over 3 years	-13.61%	-15.91%	+2.30%
Max Drawdown (5Y) Largest decline over 5 years	-14.29%	-19.83%	+5.54%
Current Drawdown Current decline from peak	-0.15%	-0.19%	+0.04%
Average Drawdown Average peak-to-trough decline	-2.60%	-3.28%	+0.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.26%	0.45%	+0.81%

Volatility

BOCT vs. QMAR - Volatility Comparison

Innovator U.S. Equity Buffer ETF October (BOCT) and FT Cboe Vest Nasdaq-100 Buffer ETF - March (QMAR) have volatilities of 1.33% and 1.27%, 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

	BOCT	QMAR	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.33%	1.27%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	6.11%	4.85%	+1.26%
Volatility (1Y) Calculated over the trailing 1-year period	8.18%	6.09%	+2.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.09%	13.97%	-2.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.82%	13.85%	-0.03%

BOCT vs. QMAR - Expense Ratio Comparison

BOCT has a 0.79% expense ratio, which is lower than QMAR's 0.90% expense ratio.

Dividends

BOCT vs. QMAR - Dividend Comparison

Neither BOCT nor QMAR has paid dividends to shareholders.

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%
QMAR FT Cboe Vest Nasdaq-100 Buffer ETF - March	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BOCT and QMAR in my portfolio?

BOCT and QMAR have a correlation of 0.87, 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 QMAR?

BOCT has higher volatility (1.33%) compared to QMAR (1.27%). In terms of maximum drawdown, BOCT dropped -24.54% vs QMAR's -19.83%.

Which ETF is better, BOCT or QMAR?

On 5-year performance, QMAR leads with 12.13% vs 10.56% for BOCT. On fees, BOCT is cheaper at 0.79% per year. 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, BOCT or QMAR?

Over the 5-year period, QMAR has performed better with a 12.13% return vs 10.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BOCT or QMAR?

BOCT is cheaper with a 0.79% expense ratio, compared with 0.90% for QMAR.

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

BOCT and QMAR have nearly identical dividend yields, around 0.00%.

What is the main difference between BOCT and QMAR?

BOCT is categorized as Defined Outcome, while QMAR is Nasdaq-100. They also come from different issuers: Innovator and First Trust. Their fees differ too: 0.79% for BOCT and 0.90% for QMAR.

Which has better risk-adjusted returns?

QMAR currently has the higher Sharpe Ratio (3.86 vs 2.49), 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.