IMAY vs. QB

Last updated Jul 2, 2026

IMAY (Innovator International Developed Power Buffer ETF - May) and QB (ProShares Nasdaq-100 Dynamic Daily Buffer ETF) are both Defined Outcome funds. IMAY is actively managed, while QB is passively managed. Over the past year, IMAY returned 11.96% vs 17.47% for QB. A 0.60 correlation means they provide meaningful diversification when combined. IMAY charges 0.85%/yr vs 0.58%/yr for QB.

Performance

IMAY vs. QB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator International Developed Power Buffer ETF - May (IMAY) 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, IMAY achieves a 5.79% return, which is significantly lower than QB's 11.15% return.

IMAY

• 1D: -0.29%
• 1M: 0.22%
• YTD: 5.79%
• 6M: 5.79%
• 1Y: 11.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QB

• 1D: -0.15%
• 1M: 0.40%
• YTD: 11.15%
• 6M: 11.15%
• 1Y: 17.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IMAY vs. QB - Yearly Performance Comparison

	2026 (YTD)	2025
IMAY Innovator International Developed Power Buffer ETF - May	5.79%	6.90%
QB ProShares Nasdaq-100 Dynamic Daily Buffer ETF	11.15%	6.10%

Correlation

The correlation between IMAY and QB is 0.61, 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	0.61
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.60

The correlation between IMAY and QB has been stable across timeframes, ranging from 0.60 to 0.61 - a consistent structural relationship.

Return for Risk

IMAY vs. QB — Risk / Return Rank

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

IMAY

IMAY Risk / Return Rank: 63
IMAY Sharpe Ratio Rank: 55
IMAY Sortino Ratio Rank: 56
IMAY Omega Ratio Rank: 60
IMAY Calmar Ratio Rank: 68
IMAY Martin Ratio Rank: 74

QB

QB Risk / Return Rank: 92
QB Sharpe Ratio Rank: 90
QB Sortino Ratio Rank: 91
QB Omega Ratio Rank: 95
QB Calmar Ratio Rank: 91
QB Martin Ratio Rank: 95

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.

IMAY vs. QB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator International Developed Power Buffer ETF - May (IMAY) 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.

	IMAY	QB	Difference
Sharpe ratio: Return per unit of total volatility	1.58	2.53	-0.94
Sortino ratio: Return per unit of downside risk	2.30	3.67	-1.37
Omega ratio: Gain probability vs. loss probability	1.31	1.60	-0.29
Calmar ratio: Return relative to maximum drawdown	2.85	5.05	-2.20
Martin ratio: Return relative to average drawdown	11.64	24.25	-12.61

IMAY vs. QB - Sharpe Ratio Comparison

The current IMAY Sharpe Ratio is 1.58, which is lower than the QB Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of IMAY 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

IMAY vs. QB - Drawdown Comparison

The maximum IMAY drawdown since its inception was -9.38%, which is greater than QB's maximum drawdown of -3.47%. Use the drawdown chart below to compare losses from any high point for IMAY and QB.

Drawdown Indicators

	IMAY	QB	Difference
Max Drawdown Largest peak-to-trough decline	-9.38%	-3.47%	-5.91%
Max Drawdown (1Y) Largest decline over 1 year	-4.22%	-3.47%	-0.75%
Current Drawdown Current decline from peak	-0.70%	-0.15%	-0.55%
Average Drawdown Average peak-to-trough decline	-1.69%	-0.43%	-1.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.03%	0.72%	+0.31%

Volatility

IMAY vs. QB - Volatility Comparison

The current volatility for Innovator International Developed Power Buffer ETF - May (IMAY) is 2.96%, while ProShares Nasdaq-100 Dynamic Daily Buffer ETF (QB) has a volatility of 4.33%. This indicates that IMAY 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

	IMAY	QB	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.96%	4.33%	-1.37%
Volatility (6M) Calculated over the trailing 6-month period	6.31%	5.73%	+0.58%
Volatility (1Y) Calculated over the trailing 1-year period	7.59%	6.95%	+0.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.50%	6.93%	+2.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.50%	6.93%	+2.57%

IMAY vs. QB - Expense Ratio Comparison

IMAY has a 0.85% expense ratio, which is higher than QB's 0.58% expense ratio.

Dividends

IMAY vs. QB - Dividend Comparison

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

Position	TTM	2025
IMAY Innovator International Developed Power Buffer ETF - May	0.00%	0.00%
QB ProShares Nasdaq-100 Dynamic Daily Buffer ETF	0.78%	0.48%

Frequently Asked Questions

Can I hold both IMAY and QB in my portfolio?

IMAY and QB have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IMAY or QB?

QB has higher volatility (4.33%) compared to IMAY (2.96%). In terms of maximum drawdown, IMAY dropped -9.38% vs QB's -3.47%.

Which ETF is better, IMAY or QB?

On 1-year performance, QB leads with 17.47% vs 11.96% for IMAY. On fees, QB is cheaper at 0.58% per year. On volatility, IMAY has been the lower-risk option at 2.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IMAY or QB?

Over the 1-year period, QB has performed better with a 17.47% return vs 11.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IMAY or QB?

QB is cheaper with a 0.58% expense ratio, compared with 0.85% for IMAY.

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

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

What is the main difference between IMAY and QB?

They also come from different issuers: Innovator and ProShares. Their fees differ too: 0.85% for IMAY and 0.58% for QB.

Which has better risk-adjusted returns?

QB currently has the higher Sharpe Ratio (2.53 vs 1.58), 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.