IFEB vs. QQQY

Last updated Jun 4, 2026

IFEB (Innovator International Developed Power Buffer ETF - February) and QQQY (Defiance Nasdaq 100 Enhanced Options Income ETF) are both exchange-traded funds - IFEB is a Options Trading fund actively managed by Innovator, while QQQY is a Nasdaq-100 fund actively managed by Defiance. Both are actively managed. Over the past year, IFEB returned 10.26% vs 36.38% for QQQY. A 0.57 correlation means they provide meaningful diversification when combined. IFEB charges 0.85%/yr vs 0.99%/yr for QQQY.

Performance

IFEB vs. QQQY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator International Developed Power Buffer ETF - February (IFEB) and Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IFEB achieves a 2.84% return, which is significantly lower than QQQY's 19.07% return.

IFEB

• 1D: -0.28%
• 1M: 1.98%
• YTD: 2.84%
• 6M: 3.95%
• 1Y: 10.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QQQY

• 1D: -0.36%
• 1M: 9.64%
• YTD: 19.07%
• 6M: 19.11%
• 1Y: 36.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IFEB vs. QQQY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IFEB Innovator International Developed Power Buffer ETF - February	2.84%	19.46%	0.54%
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	19.07%	14.96%	6.27%

Correlation

The correlation between IFEB and QQQY is 0.62, 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	0.62
Correlation (All Time) Calculated using the full available price history since Feb 2, 2024	0.57

The correlation between IFEB and QQQY has been stable across timeframes, ranging from 0.57 to 0.62 - a consistent structural relationship.

Return for Risk

IFEB vs. QQQY — Risk / Return Rank

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

IFEB

IFEB Risk / Return Rank: 39
IFEB Sharpe Ratio Rank: 39
IFEB Sortino Ratio Rank: 39
IFEB Omega Ratio Rank: 45
IFEB Calmar Ratio Rank: 33
IFEB Martin Ratio Rank: 41

QQQY

QQQY Risk / Return Rank: 74
QQQY Sharpe Ratio Rank: 81
QQQY Sortino Ratio Rank: 73
QQQY Omega Ratio Rank: 80
QQQY Calmar Ratio Rank: 65
QQQY Martin Ratio Rank: 73

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.

IFEB vs. QQQY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator International Developed Power Buffer ETF - February (IFEB) and Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY). 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.

	IFEB	QQQY	Difference
Sharpe ratio: Return per unit of total volatility	1.37	2.68	-1.31
Sortino ratio: Return per unit of downside risk	1.99	3.37	-1.38
Omega ratio: Gain probability vs. loss probability	1.28	1.49	-0.21
Calmar ratio: Return relative to maximum drawdown	1.59	3.28	-1.69
Martin ratio: Return relative to average drawdown	6.51	13.95	-7.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IFEB vs. QQQY - Sharpe Ratio Comparison

The current IFEB Sharpe Ratio is 1.37, which is lower than the QQQY Sharpe Ratio of 2.68. The chart below compares the historical Sharpe Ratios of IFEB and QQQY, 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

	IFEB	QQQY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.37	2.68	-1.31
Sharpe Ratio (All Time) Calculated using the full available price history	1.05	1.25	-0.20

Drawdowns

IFEB vs. QQQY - Drawdown Comparison

The maximum IFEB drawdown since its inception was -8.84%, smaller than the maximum QQQY drawdown of -19.05%. Use the drawdown chart below to compare losses from any high point for IFEB and QQQY.

Drawdown Indicators

	IFEB	QQQY	Difference
Max Drawdown Largest peak-to-trough decline	-8.84%	-19.05%	+10.21%
Max Drawdown (1Y) Largest decline over 1 year	-6.47%	-11.14%	+4.67%
Current Drawdown Current decline from peak	-0.41%	-0.36%	-0.05%
Average Drawdown Average peak-to-trough decline	-1.68%	-2.91%	+1.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.58%	2.61%	-1.03%

Volatility

IFEB vs. QQQY - Volatility Comparison

The current volatility for Innovator International Developed Power Buffer ETF - February (IFEB) is 2.58%, while Defiance Nasdaq 100 Enhanced Options Income ETF (QQQY) has a volatility of 4.21%. This indicates that IFEB experiences smaller price fluctuations and is considered to be less risky than QQQY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IFEB	QQQY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.58%	4.21%	-1.63%
Volatility (6M) Calculated over the trailing 6-month period	6.52%	11.30%	-4.78%
Volatility (1Y) Calculated over the trailing 1-year period	7.55%	13.67%	-6.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.09%	14.75%	-5.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.09%	14.75%	-5.66%

IFEB vs. QQQY - Expense Ratio Comparison

IFEB has a 0.85% expense ratio, which is lower than QQQY's 0.99% expense ratio.

Dividends

IFEB vs. QQQY - Dividend Comparison

IFEB has not paid dividends to shareholders, while QQQY's dividend yield for the trailing twelve months is around 34.34%.

Position	TTM	2025	2024	2023
IFEB Innovator International Developed Power Buffer ETF - February	0.00%	0.00%	0.00%	0.00%
QQQY Defiance Nasdaq 100 Enhanced Options Income ETF	34.34%	45.34%	83.34%	20.64%

Frequently Asked Questions

Can I hold both IFEB and QQQY in my portfolio?

IFEB and QQQY have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IFEB or QQQY?

QQQY has higher volatility (4.21%) compared to IFEB (2.58%). In terms of maximum drawdown, IFEB dropped -8.84% vs QQQY's -19.05%.

Which ETF is better, IFEB or QQQY?

On 1-year performance, QQQY leads with 36.38% vs 10.26% for IFEB. On fees, IFEB is cheaper at 0.85% per year. On volatility, IFEB has been the lower-risk option at 2.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IFEB or QQQY?

Over the 1-year period, QQQY has performed better with a 36.38% return vs 10.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IFEB or QQQY?

IFEB is cheaper with a 0.85% expense ratio, compared with 0.99% for QQQY.

Which ETF pays a higher dividend yield, IFEB or QQQY?

QQQY has the higher dividend yield at 34.34%, compared with 0.00% for IFEB.

What is the main difference between IFEB and QQQY?

IFEB is categorized as Options Trading, while QQQY is Nasdaq-100. They also come from different issuers: Innovator and Defiance. Their fees differ too: 0.85% for IFEB and 0.99% for QQQY.

Which has better risk-adjusted returns?

QQQY currently has the higher Sharpe Ratio (2.68 vs 1.37), 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.