MSTQ vs. QFLR

Last updated Apr 1, 2026

Compare and contrast key facts about LHA Market State Tactical Q ETF (MSTQ) and Innovator Nasdaq-100 Managed Floor ETF (QFLR).

MSTQ and QFLR are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MSTQ is an actively managed fund by Little Harbor Advisors. It was launched on Mar 14, 2022. QFLR is an actively managed fund by Innovator. It was launched on Jan 24, 2024.

Performance

MSTQ vs. QFLR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LHA Market State Tactical Q ETF (MSTQ) and Innovator Nasdaq-100 Managed Floor ETF (QFLR). The values are adjusted to include any dividend payments, if applicable.

MSTQ vs. QFLR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MSTQ LHA Market State Tactical Q ETF	-5.71%	20.57%	14.80%
QFLR Innovator Nasdaq-100 Managed Floor ETF	-2.86%	17.27%	16.64%

Returns By Period

In the year-to-date period, MSTQ achieves a -5.71% return, which is significantly lower than QFLR's -2.86% return.

MSTQ

• 1D: 2.40%
• 1M: -4.26%
• YTD: -5.71%
• 6M: -4.78%
• 1Y: 23.75%
• 3Y*: 18.23%
• 5Y*: —
• 10Y*: —

QFLR

• 1D: 2.40%
• 1M: -3.49%
• YTD: -2.86%
• 6M: 0.45%
• 1Y: 23.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSTQ vs. QFLR - Expense Ratio Comparison

MSTQ has a 1.59% expense ratio, which is higher than QFLR's 0.89% expense ratio.

MSTQ

LHA Market State Tactical Q ETF

QFLR

Innovator Nasdaq-100 Managed Floor ETF

Return for Risk

MSTQ vs. QFLR — Risk / Return Rank

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

MSTQ

MSTQ Risk / Return Rank: 74
MSTQ Sharpe Ratio Rank: 78
MSTQ Sortino Ratio Rank: 81
MSTQ Omega Ratio Rank: 73
MSTQ Calmar Ratio Rank: 73
MSTQ Martin Ratio Rank: 63

QFLR

QFLR Risk / Return Rank: 90
QFLR Sharpe Ratio Rank: 89
QFLR Sortino Ratio Rank: 91
QFLR Omega Ratio Rank: 88
QFLR Calmar Ratio Rank: 90
QFLR Martin Ratio Rank: 93

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.

MSTQ vs. QFLR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LHA Market State Tactical Q ETF (MSTQ) and Innovator Nasdaq-100 Managed Floor ETF (QFLR). 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.

	MSTQ	QFLR	Difference
Sharpe ratio Return per unit of total volatility	1.46	1.90	-0.44
Sortino ratio Return per unit of downside risk	2.12	2.61	-0.48
Omega ratio Gain probability vs. loss probability	1.28	1.36	-0.08
Calmar ratio Return relative to maximum drawdown	1.91	3.03	-1.12
Martin ratio Return relative to average drawdown	6.30	13.18	-6.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MSTQ vs. QFLR - Sharpe Ratio Comparison

The current MSTQ Sharpe Ratio is 1.46, which is comparable to the QFLR Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of MSTQ and QFLR, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MSTQ	QFLR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.46	1.90	-0.44
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	1.09	-0.51

Correlation

The correlation between MSTQ and QFLR is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

MSTQ vs. QFLR - Dividend Comparison

MSTQ's dividend yield for the trailing twelve months is around 14.81%, while QFLR has not paid dividends to shareholders.

	TTM	2025	2024	2023
MSTQ LHA Market State Tactical Q ETF	14.81%	13.97%	3.72%	0.77%
QFLR Innovator Nasdaq-100 Managed Floor ETF	0.00%	0.02%	0.03%	0.00%

Drawdowns

MSTQ vs. QFLR - Drawdown Comparison

The maximum MSTQ drawdown since its inception was -31.05%, which is greater than QFLR's maximum drawdown of -13.97%. Use the drawdown chart below to compare losses from any high point for MSTQ and QFLR.

Drawdown Indicators

	MSTQ	QFLR	Difference
Max Drawdown Largest peak-to-trough decline	-31.05%	-13.97%	-17.08%
Max Drawdown (1Y) Largest decline over 1 year	-12.39%	-7.61%	-4.78%
Current Drawdown Current decline from peak	-10.29%	-5.40%	-4.89%
Average Drawdown Average peak-to-trough decline	-8.91%	-2.61%	-6.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.76%	1.75%	+2.01%

Volatility

MSTQ vs. QFLR - Volatility Comparison

The current volatility for LHA Market State Tactical Q ETF (MSTQ) is 4.51%, while Innovator Nasdaq-100 Managed Floor ETF (QFLR) has a volatility of 4.93%. This indicates that MSTQ experiences smaller price fluctuations and is considered to be less risky than QFLR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSTQ	QFLR	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.51%	4.93%	-0.42%
Volatility (6M) Calculated over the trailing 6-month period	11.28%	9.48%	+1.80%
Volatility (1Y) Calculated over the trailing 1-year period	16.35%	12.31%	+4.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.98%	12.90%	+6.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.98%	12.90%	+6.08%