NAPR vs. QB

Last updated Jun 4, 2026

NAPR (Innovator Nasdaq-100 Power Buffer ETF - April) and QB (ProShares Nasdaq-100 Dynamic Daily Buffer ETF) are both exchange-traded funds - NAPR is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while QB is a Defined Outcome fund tracking the Nasdaq-100. Both are passively managed. A 0.73 correlation means they provide meaningful diversification when combined. NAPR charges 0.79%/yr vs 0.58%/yr for QB.

Performance

NAPR vs. QB - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with NAPR having a 10.51% return and QB slightly lower at 10.47%.

NAPR

• 1D: -0.12%
• 1M: 2.09%
• YTD: 10.51%
• 6M: 11.15%
• 1Y: 18.45%
• 3Y*: 13.26%
• 5Y*: 10.10%
• 10Y*: —

QB

• 1D: -0.19%
• 1M: 2.95%
• YTD: 10.47%
• 6M: 9.91%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NAPR vs. QB - Yearly Performance Comparison

	2026 (YTD)	2025
NAPR Innovator Nasdaq-100 Power Buffer ETF - April	10.51%	5.44%
QB ProShares Nasdaq-100 Dynamic Daily Buffer ETF	10.47%	5.77%

Correlation

The correlation between NAPR and QB is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 27, 2025	0.73

NAPR vs. QB - Sectors Allocation Comparison

Sectors	NAPR	QB
Technology	50.7%	49.9%
Communication Services	15.8%	16.4%
Consumer Cyclical	12.5%	12.5%
Consumer Defensive	8.7%	8.6%
Healthcare	5.1%	5.3%
Industrials	3.3%	3.7%
Utilities	1.6%	1.6%
Basic Materials	1.3%	1.3%
Energy	0.7%	0.6%
Financial Services	0.2%	0.2%
Real Estate	0.1%	0.1%

Return for Risk

NAPR vs. QB — Risk / Return Rank

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

NAPR

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

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. QB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Nasdaq-100 Power Buffer ETF - April (NAPR) 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.

	NAPR	QB	Difference
Sharpe ratio: Return per unit of total volatility	4.78	—	—
Sortino ratio: Return per unit of downside risk	8.66	—	—
Omega ratio: Gain probability vs. loss probability	2.18	—	—
Calmar ratio: Return relative to maximum drawdown	14.95	—	—
Martin ratio: Return relative to average drawdown	84.84	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	NAPR	QB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.78	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.90	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.07	3.17	-2.10

Drawdowns

NAPR vs. QB - Drawdown Comparison

The maximum NAPR drawdown since its inception was -16.53%, which is greater than QB's maximum drawdown of -1.83%. Use the drawdown chart below to compare losses from any high point for NAPR and QB.

Drawdown Indicators

	NAPR	QB	Difference
Max Drawdown Largest peak-to-trough decline	-16.53%	-1.83%	-14.70%
Max Drawdown (1Y) Largest decline over 1 year	-1.24%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-14.52%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-16.53%	—	—
Current Drawdown Current decline from peak	-0.12%	-0.30%	+0.18%
Average Drawdown Average peak-to-trough decline	-2.28%	-0.34%	-1.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.22%	—	—

Volatility

Volatility by Period

	NAPR	QB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.10%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.82%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.89%	5.75%	-1.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.27%	5.75%	+5.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.61%	5.75%	+4.86%

NAPR vs. QB - Expense Ratio Comparison

NAPR has a 0.79% expense ratio, which is higher than QB's 0.58% expense ratio.

Dividends

NAPR vs. QB - Dividend Comparison

NAPR has not paid dividends to shareholders, while QB's dividend yield for the trailing twelve months is around 0.62%.

Position	TTM	2025
NAPR Innovator Nasdaq-100 Power Buffer ETF - April	0.00%	0.00%
QB ProShares Nasdaq-100 Dynamic Daily Buffer ETF	0.62%	0.48%

Frequently Asked Questions

Can I hold both NAPR and QB in my portfolio?

NAPR and QB have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NAPR or QB?

On fees, QB is cheaper at 0.58% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NAPR or QB?

QB is cheaper with a 0.58% expense ratio, compared with 0.79% for NAPR.

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

QB has the higher dividend yield at 0.62%, compared with 0.00% for NAPR.

What is the main difference between NAPR and QB?

NAPR is categorized as Nasdaq-100, while QB is Defined Outcome. NAPR tracks NASDAQ-100 Index, while QB tracks Nasdaq-100. They also come from different issuers: Innovator and ProShares. Their fees differ too: 0.79% for NAPR and 0.58% for QB.