IJAN vs. QQQ
IJAN (Innovator International Developed Power Buffer ETF - January) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - IJAN is a Defined Outcome fund actively managed by Innovator, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. IJAN is actively managed, while QQQ is passively managed. Over the past 5 years, IJAN returned 7.08%/yr vs 15.94%/yr for QQQ. A 0.62 correlation means they provide meaningful diversification when combined. IJAN charges 0.85%/yr vs 0.18%/yr for QQQ.
Performance
IJAN vs. QQQ - Performance Comparison
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Returns By Period
In the year-to-date period, IJAN achieves a 4.38% return, which is significantly lower than QQQ's 15.95% return.
IJAN
- 1D
- -0.20%
- 1M
- 0.17%
- YTD
- 4.38%
- 6M
- 4.66%
- 1Y
- 11.23%
- 3Y*
- 9.68%
- 5Y*
- 7.08%
- 10Y*
- —
QQQ
- 1D
- -0.42%
- 1M
- -0.86%
- YTD
- 15.95%
- 6M
- 14.16%
- 1Y
- 32.28%
- 3Y*
- 25.87%
- 5Y*
- 15.94%
- 10Y*
- 22.01%
IJAN vs. QQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IJAN Innovator International Developed Power Buffer ETF - January | 4.38% | 19.62% | -0.57% | 13.82% | -2.52% | 7.28% | 3.69% |
QQQ Invesco QQQ ETF | 15.95% | 20.77% | 25.58% | 54.86% | -32.58% | 27.42% | 48.62% |
Correlation
The correlation between IJAN and QQQ is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2020 | 0.62 |
The correlation between IJAN and QQQ has been stable across timeframes, ranging from 0.60 to 0.66 - a consistent structural relationship.
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Return for Risk
IJAN vs. QQQ — Risk / Return Rank
IJAN
QQQ
IJAN vs. QQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator International Developed Power Buffer ETF - January (IJAN) and Invesco QQQ ETF (QQQ). 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.
| IJAN | QQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.32 | ||
| Sortino ratioReturn per unit of downside risk | -0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.32 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | 2.71 | -0.87 |
| Martin ratioReturn relative to average drawdown | 7.76 | 10.01 | -2.25 |
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Drawdowns
IJAN vs. QQQ - Drawdown Comparison
The maximum IJAN drawdown since its inception was -22.68%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for IJAN and QQQ.
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Drawdown Indicators
| IJAN | QQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.68% | -82.97% | +60.29% |
Max Drawdown (1Y)Largest decline over 1 year | -6.14% | -11.96% | +5.82% |
Max Drawdown (3Y)Largest decline over 3 years | -10.30% | -22.77% | +12.47% |
Max Drawdown (5Y)Largest decline over 5 years | -16.71% | -35.12% | +18.41% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.12% | — |
Current DrawdownCurrent decline from peak | -1.06% | -4.66% | +3.60% |
Average DrawdownAverage peak-to-trough decline | -2.93% | -32.72% | +29.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.45% | 3.23% | -1.78% |
Volatility
IJAN vs. QQQ - Volatility Comparison
The current volatility for Innovator International Developed Power Buffer ETF - January (IJAN) is 2.53%, while Invesco QQQ ETF (QQQ) has a volatility of 9.17%. This indicates that IJAN experiences smaller price fluctuations and is considered to be less risky than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IJAN | QQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.53% | 9.17% | -6.64% |
Volatility (6M)Calculated over the trailing 6-month period | 6.86% | 14.54% | -7.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.61% | 17.95% | -10.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.34% | 22.69% | -12.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.48% | 22.41% | -9.93% |
IJAN vs. QQQ - Expense Ratio Comparison
IJAN has a 0.85% expense ratio, which is higher than QQQ's 0.18% expense ratio.
Dividends
IJAN vs. QQQ - Dividend Comparison
IJAN has not paid dividends to shareholders, while QQQ's dividend yield for the trailing twelve months is around 0.43%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IJAN Innovator International Developed Power Buffer ETF - January | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
QQQ Invesco QQQ ETF | 0.43% | 0.45% | 0.56% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% |
Frequently Asked Questions
IJAN and QQQ have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QQQ has higher volatility (9.17%) compared to IJAN (2.53%). In terms of maximum drawdown, IJAN dropped -22.68% vs QQQ's -82.97%.
On 5-year performance, QQQ leads with 15.94% vs 7.08% for IJAN. On fees, QQQ is cheaper at 0.18% per year. On volatility, IJAN has been the lower-risk option at 2.53%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, QQQ has performed better with a 15.94% return vs 7.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QQQ is cheaper with a 0.18% expense ratio, compared with 0.85% for IJAN.
QQQ has the higher dividend yield at 0.43%, compared with 0.00% for IJAN.
IJAN is categorized as Defined Outcome, while QQQ is Nasdaq-100. They also come from different issuers: Innovator and Invesco. Their fees differ too: 0.85% for IJAN and 0.18% for QQQ.
QQQ currently has the higher Sharpe Ratio (1.81 vs 1.49), 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.
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