IJAN vs. QQQ

Last updated Jun 5, 2026

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 7.18%/yr vs 17.86%/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

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator International Developed Power Buffer ETF - January (IJAN) and Invesco QQQ ETF (QQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IJAN achieves a 4.67% return, which is significantly lower than QQQ's 20.71% return.

IJAN

• 1D: 0.22%
• 1M: 1.35%
• YTD: 4.67%
• 6M: 5.64%
• 1Y: 11.91%
• 3Y*: 9.66%
• 5Y*: 7.18%
• 10Y*: —

QQQ

• 1D: -0.48%
• 1M: 8.66%
• YTD: 20.71%
• 6M: 19.19%
• 1Y: 40.74%
• 3Y*: 28.54%
• 5Y*: 17.86%
• 10Y*: 21.84%

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

IJAN vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
IJAN Innovator International Developed Power Buffer ETF - January	4.67%	19.62%	-0.57%	13.82%	-2.52%	7.28%	3.49%
QQQ Invesco QQQ ETF	20.71%	20.77%	25.58%	54.86%	-32.58%	27.42%	46.18%

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 3, 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.

IJAN vs. QQQ - Sectors Allocation Comparison

Sectors	IJAN	QQQ
Financial Services	24.7%	0.2%
Industrials	19.8%	2.8%
Healthcare	10.6%	4.2%
Technology	10.3%	53.8%
Consumer Cyclical	7.7%	12.3%
Consumer Defensive	6.7%	7.7%
Basic Materials	5.9%	1.1%
Communication Services	4.5%	15.8%
Energy	4.0%	0.6%
Utilities	4.0%	1.4%
Real Estate	1.9%	0.1%

Return for Risk

IJAN vs. QQQ — Risk / Return Rank

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

IJAN

IJAN Risk / Return Rank: 48
IJAN Sharpe Ratio Rank: 48
IJAN Sortino Ratio Rank: 47
IJAN Omega Ratio Rank: 55
IJAN Calmar Ratio Rank: 40
IJAN Martin Ratio Rank: 50

QQQ

QQQ Risk / Return Rank: 74
QQQ Sharpe Ratio Rank: 80
QQQ Sortino Ratio Rank: 76
QQQ Omega Ratio Rank: 75
QQQ Calmar Ratio Rank: 70
QQQ Martin Ratio Rank: 71

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.

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.

	IJAN	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	1.64	2.57	-0.93
Sortino ratio: Return per unit of downside risk	2.32	3.37	-1.05
Omega ratio: Gain probability vs. loss probability	1.33	1.44	-0.11
Calmar ratio: Return relative to maximum drawdown	1.95	3.42	-1.47
Martin ratio: Return relative to average drawdown	8.25	13.14	-4.90
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IJAN vs. QQQ - Sharpe Ratio Comparison

The current IJAN Sharpe Ratio is 1.64, which is lower than the QQQ Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of IJAN and QQQ, 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

	IJAN	QQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.64	2.57	-0.93
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	0.80	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.98	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.41	+0.14

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.

Drawdown Indicators

	IJAN	QQQ	Difference
Max Drawdown Largest 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 Drawdown Current decline from peak	-0.07%	-0.74%	+0.67%
Average Drawdown Average peak-to-trough decline	-2.95%	-32.78%	+29.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.45%	3.11%	-1.66%

Volatility

IJAN vs. QQQ - Volatility Comparison

The current volatility for Innovator International Developed Power Buffer ETF - January (IJAN) is 2.12%, while Invesco QQQ ETF (QQQ) has a volatility of 4.51%. 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.

Volatility by Period

	IJAN	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.12%	4.51%	-2.39%
Volatility (6M) Calculated over the trailing 6-month period	6.44%	12.10%	-5.66%
Volatility (1Y) Calculated over the trailing 1-year period	7.32%	15.94%	-8.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.29%	22.37%	-12.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.50%	22.29%	-9.79%

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 0.38%.

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	0.38%	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

Can I hold both IJAN and QQQ in my portfolio?

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.

Which is riskier, IJAN or QQQ?

QQQ has higher volatility (4.51%) compared to IJAN (2.12%). In terms of maximum drawdown, IJAN dropped -22.68% vs QQQ's -82.97%.

Which ETF is better, IJAN or QQQ?

On 5-year performance, QQQ leads with 17.86% vs 7.18% for IJAN. On fees, QQQ is cheaper at 0.18% per year. On volatility, IJAN has been the lower-risk option at 2.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IJAN or QQQ?

Over the 5-year period, QQQ has performed better with a 17.86% return vs 7.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IJAN or QQQ?

QQQ is cheaper with a 0.18% expense ratio, compared with 0.85% for IJAN.

Which ETF pays a higher dividend yield, IJAN or QQQ?

QQQ has the higher dividend yield at 0.38%, compared with 0.00% for IJAN.

What is the main difference between IJAN and QQQ?

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.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (2.57 vs 1.64), 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.