NAPR vs. FAAR
NAPR (Innovator Nasdaq-100 Power Buffer ETF - April) and FAAR (First Trust Alternative Absolute Return Strategy ETF) are both exchange-traded funds - NAPR is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while FAAR is a Commodities fund actively managed by First Trust. NAPR is passively managed, while FAAR is actively managed. Over the past 5 years, NAPR returned 9.49%/yr vs 7.72%/yr for FAAR. At a 0.00 correlation, their price movements are largely independent. NAPR charges 0.79%/yr vs 0.95%/yr for FAAR.
Performance
NAPR vs. FAAR - Performance Comparison
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Returns By Period
In the year-to-date period, NAPR achieves a 9.27% return, which is significantly lower than FAAR's 19.14% return.
NAPR
- 1D
- -0.82%
- 1M
- -0.61%
- YTD
- 9.27%
- 6M
- 9.31%
- 1Y
- 16.17%
- 3Y*
- 12.30%
- 5Y*
- 9.49%
- 10Y*
- —
FAAR
- 1D
- -0.91%
- 1M
- -5.21%
- YTD
- 19.14%
- 6M
- 18.06%
- 1Y
- 28.33%
- 3Y*
- 10.57%
- 5Y*
- 7.72%
- 10Y*
- 4.69%
NAPR vs. FAAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
NAPR Innovator Nasdaq-100 Power Buffer ETF - April | 9.27% | 6.56% | 13.29% | 30.60% | -12.13% | 9.09% | 14.67% |
FAAR First Trust Alternative Absolute Return Strategy ETF | 19.14% | 8.07% | 5.97% | -5.63% | 10.15% | 12.34% | 11.07% |
Correlation
The correlation between NAPR and FAAR is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 2020 | 0.00 |
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Return for Risk
NAPR vs. FAAR — Risk / Return Rank
NAPR
FAAR
NAPR vs. FAAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Nasdaq-100 Power Buffer ETF - April (NAPR) and First Trust Alternative Absolute Return Strategy ETF (FAAR). 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.
| NAPR | FAAR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.61 | ||
| Sortino ratioReturn per unit of downside risk | +2.93 | ||
| Omega ratioGain probability vs. loss probability | 1.89 | 1.37 | +0.53 |
| Calmar ratioReturn relative to maximum drawdown | 9.08 | 4.52 | +4.56 |
| Martin ratioReturn relative to average drawdown | 53.80 | 15.18 | +38.62 |
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Drawdowns
NAPR vs. FAAR - Drawdown Comparison
The maximum NAPR drawdown since its inception was -16.53%, smaller than the maximum FAAR drawdown of -18.03%. Use the drawdown chart below to compare losses from any high point for NAPR and FAAR.
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Drawdown Indicators
| NAPR | FAAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.53% | -18.03% | +1.50% |
Max Drawdown (1Y)Largest decline over 1 year | -1.79% | -6.29% | +4.50% |
Max Drawdown (3Y)Largest decline over 3 years | -14.52% | -11.54% | -2.98% |
Max Drawdown (5Y)Largest decline over 5 years | -16.53% | -18.03% | +1.50% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.03% | — |
Current DrawdownCurrent decline from peak | -1.24% | -6.29% | +5.05% |
Average DrawdownAverage peak-to-trough decline | -2.26% | -7.82% | +5.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.30% | 1.87% | -1.57% |
Volatility
NAPR vs. FAAR - Volatility Comparison
The current volatility for Innovator Nasdaq-100 Power Buffer ETF - April (NAPR) is 2.27%, while First Trust Alternative Absolute Return Strategy ETF (FAAR) has a volatility of 2.55%. This indicates that NAPR experiences smaller price fluctuations and is considered to be less risky than FAAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NAPR | FAAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.27% | 2.55% | -0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 3.55% | 9.68% | -6.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.34% | 13.38% | -9.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.31% | 12.96% | -1.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.60% | 11.54% | -0.94% |
NAPR vs. FAAR - Expense Ratio Comparison
NAPR has a 0.79% expense ratio, which is lower than FAAR's 0.95% expense ratio.
Dividends
NAPR vs. FAAR - Dividend Comparison
NAPR has not paid dividends to shareholders, while FAAR's dividend yield for the trailing twelve months is around 9.66%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FAAR First Trust Alternative Absolute Return Strategy ETF | 9.66% | 11.63% | 3.45% | 3.20% | 5.82% | 6.49% | 3.05% | 1.02% | 0.58% | 2.83% |
NAPR Innovator Nasdaq-100 Power Buffer ETF - April | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NAPR and FAAR have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FAAR has higher volatility (2.55%) compared to NAPR (2.27%). In terms of maximum drawdown, NAPR dropped -16.53% vs FAAR's -18.03%.
On 5-year performance, NAPR leads with 9.49% vs 7.72% for FAAR. On fees, NAPR is cheaper at 0.79% per year. On volatility, NAPR has been the lower-risk option at 2.27%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, NAPR has performed better with a 9.49% return vs 7.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NAPR is cheaper with a 0.79% expense ratio, compared with 0.95% for FAAR.
FAAR has the higher dividend yield at 9.66%, compared with 0.00% for NAPR.
NAPR is categorized as Nasdaq-100, while FAAR is Commodities. They also come from different issuers: Innovator and First Trust. Their fees differ too: 0.79% for NAPR and 0.95% for FAAR.
NAPR currently has the higher Sharpe Ratio (3.76 vs 2.15), 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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