NAPR vs. FTQI

Last updated Jul 15, 2026

NAPR (Innovator Nasdaq-100 Power Buffer ETF - April) and FTQI (First Trust Nasdaq BuyWrite Income ETF) are both Nasdaq-100 funds tracking the NASDAQ-100 Index, from Innovator and First Trust respectively. Both are passively managed. Over the past 5 years, NAPR returned 9.60%/yr vs 12.16%/yr for FTQI. A 0.70 correlation means they provide meaningful diversification when combined. NAPR charges 0.79%/yr vs 0.75%/yr for FTQI.

Performance

NAPR vs. FTQI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Nasdaq-100 Power Buffer ETF - April (NAPR) and First Trust Nasdaq BuyWrite Income ETF (FTQI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NAPR achieves a 10.42% return, which is significantly lower than FTQI's 13.47% return.

NAPR

• 1D: 0.40%
• 1M: 0.59%
• 6M: 9.93%
• YTD: 10.42%
• 1Y: 15.69%
• 3Y*: 12.04%
• 5Y*: 9.60%
• 10Y*: —

FTQI

• 1D: 0.45%
• 1M: 2.57%
• 6M: 12.18%
• YTD: 13.47%
• 1Y: 27.46%
• 3Y*: 16.95%
• 5Y*: 12.16%
• 10Y*: 7.67%

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

NAPR vs. FTQI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
NAPR Innovator Nasdaq-100 Power Buffer ETF - April	10.42%	6.56%	13.29%	30.60%	-12.13%	9.09%	14.67%
FTQI First Trust Nasdaq BuyWrite Income ETF	13.47%	12.68%	18.30%	23.63%	-8.77%	10.46%	6.73%

Correlation

The correlation between NAPR and FTQI is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (All Time) Calculated using the full available price history since Apr 1, 2020	0.70

The correlation between NAPR and FTQI shifts across timeframes, from 0.70 (all time) to 0.83 (3 years), reflecting how their relationship changes across market environments.

NAPR vs. FTQI - Sectors Allocation Comparison

Sectors	NAPR	FTQI
Technology	50.7%	49.4%
Communication Services	15.8%	11.8%
Consumer Cyclical	12.5%	10.5%
Consumer Defensive	8.7%	6.2%
Healthcare	5.1%	6.0%
Industrials	3.3%	4.1%
Utilities	1.6%	1.5%
Basic Materials	1.3%	1.4%
Energy	0.7%	2.3%
Financial Services	0.2%	5.5%
Real Estate	0.1%	1.3%

Return for Risk

NAPR vs. FTQI — Risk / Return Rank

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

NAPR

NAPR Risk / Return Rank: 97
NAPR Sharpe Ratio Rank: 97
NAPR Sortino Ratio Rank: 97
NAPR Omega Ratio Rank: 97
NAPR Calmar Ratio Rank: 97
NAPR Martin Ratio Rank: 98

FTQI

FTQI Risk / Return Rank: 92
FTQI Sharpe Ratio Rank: 92
FTQI Sortino Ratio Rank: 92
FTQI Omega Ratio Rank: 92
FTQI Calmar Ratio Rank: 90
FTQI Martin Ratio Rank: 94

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.

NAPR vs. FTQI - 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 Nasdaq BuyWrite Income ETF (FTQI). 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	FTQI	Difference
Sharpe ratio: Return per unit of total volatility	3.53	2.54	+0.99
Sortino ratio: Return per unit of downside risk	5.63	3.51	+2.12
Omega ratio: Gain probability vs. loss probability	1.81	1.48	+0.33
Calmar ratio: Return relative to maximum drawdown	8.81	4.42	+4.39
Martin ratio: Return relative to average drawdown	45.19	20.95	+24.24

NAPR vs. FTQI - Sharpe Ratio Comparison

The current NAPR Sharpe Ratio is 3.53, which is higher than the FTQI Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of NAPR and FTQI, 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

NAPR vs. FTQI - Drawdown Comparison

The maximum NAPR drawdown since its inception was -16.53%, smaller than the maximum FTQI drawdown of -19.42%. Use the drawdown chart below to compare losses from any high point for NAPR and FTQI.

Drawdown Indicators

	NAPR	FTQI	Difference
Max Drawdown Largest peak-to-trough decline	-16.53%	-19.42%	+2.89%
Max Drawdown (1Y) Largest decline over 1 year	-1.79%	-6.24%	+4.45%
Max Drawdown (3Y) Largest decline over 3 years	-14.52%	-19.42%	+4.90%
Max Drawdown (5Y) Largest decline over 5 years	-16.53%	-19.42%	+2.89%
Max Drawdown (10Y) Largest decline over 10 years	—	-19.42%	—
Current Drawdown Current decline from peak	-0.20%	-0.22%	+0.02%
Average Drawdown Average peak-to-trough decline	-2.25%	-3.73%	+1.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.35%	1.31%	-0.96%

Volatility

NAPR vs. FTQI - Volatility Comparison

The current volatility for Innovator Nasdaq-100 Power Buffer ETF - April (NAPR) is 2.02%, while First Trust Nasdaq BuyWrite Income ETF (FTQI) has a volatility of 2.91%. This indicates that NAPR experiences smaller price fluctuations and is considered to be less risky than FTQI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NAPR	FTQI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.02%	2.91%	-0.89%
Volatility (6M) Calculated over the trailing 6-month period	3.79%	8.79%	-5.00%
Volatility (1Y) Calculated over the trailing 1-year period	4.46%	10.84%	-6.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.32%	14.82%	-3.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.57%	12.99%	-2.42%

NAPR vs. FTQI - Expense Ratio Comparison

NAPR has a 0.79% expense ratio, which is higher than FTQI's 0.75% expense ratio.

Dividends

NAPR vs. FTQI - Dividend Comparison

NAPR has not paid dividends to shareholders, while FTQI's dividend yield for the trailing twelve months is around 10.85%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTQI First Trust Nasdaq BuyWrite Income ETF	10.85%	11.46%	11.66%	11.49%	9.85%	3.05%	3.27%	2.95%	3.27%	2.74%	3.02%	3.54%
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%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NAPR and FTQI in my portfolio?

NAPR and FTQI have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NAPR or FTQI?

FTQI has higher volatility (2.91%) compared to NAPR (2.02%). In terms of maximum drawdown, NAPR dropped -16.53% vs FTQI's -19.42%.

Which ETF is better, NAPR or FTQI?

On 5-year performance, FTQI leads with 12.16% vs 9.60% for NAPR. On fees, FTQI is cheaper at 0.75% per year. On volatility, NAPR has been the lower-risk option at 2.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NAPR or FTQI?

Over the 5-year period, FTQI has performed better with a 12.16% return vs 9.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NAPR or FTQI?

FTQI is cheaper with a 0.75% expense ratio, compared with 0.79% for NAPR.

Which ETF pays a higher dividend yield, NAPR or FTQI?

FTQI has the higher dividend yield at 10.85%, compared with 0.00% for NAPR.

What is the main difference between NAPR and FTQI?

Both ETFs track NASDAQ-100 Index. They also come from different issuers: Innovator and First Trust. Their fees differ too: 0.79% for NAPR and 0.75% for FTQI.

Which has better risk-adjusted returns?

NAPR currently has the higher Sharpe Ratio (3.53 vs 2.54), 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.