NAPR vs. QQQE

Last updated Jul 17, 2026

NAPR (Innovator Nasdaq-100 Power Buffer ETF - April) and QQQE (Direxion NASDAQ-100 Equal Weighted Index Shares) are both Nasdaq-100 funds - NAPR tracks the NASDAQ-100 Index while QQQE tracks the NASDAQ-100 Equal Weighted Index. Both are passively managed. Over the past 5 years, NAPR returned 9.58%/yr vs 9.06%/yr for QQQE. Their correlation of 0.83 suggests significant overlap in exposure. NAPR charges 0.79%/yr vs 0.35%/yr for QQQE.

Performance

NAPR vs. QQQE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Nasdaq-100 Power Buffer ETF - April (NAPR) and Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NAPR achieves a 10.03% return, which is significantly lower than QQQE's 16.12% return.

NAPR

• 1D: -0.36%
• 1M: -0.18%
• 6M: 9.69%
• YTD: 10.03%
• 1Y: 15.32%
• 3Y*: 11.81%
• 5Y*: 9.58%
• 10Y*: —

QQQE

• 1D: -0.26%
• 1M: -1.61%
• 6M: 13.70%
• YTD: 16.12%
• 1Y: 21.29%
• 3Y*: 14.88%
• 5Y*: 9.06%
• 10Y*: 14.91%

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

NAPR vs. QQQE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
NAPR Innovator Nasdaq-100 Power Buffer ETF - April	10.03%	6.56%	13.29%	30.60%	-12.13%	9.09%	14.67%
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares	16.12%	14.58%	6.98%	33.76%	-24.47%	17.93%	62.45%

Correlation

The correlation between NAPR and QQQE is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (All Time) Calculated using the full available price history since Apr 1, 2020	0.83

The correlation between NAPR and QQQE has been stable across timeframes, ranging from 0.82 to 0.87 - a consistent structural relationship.

NAPR vs. QQQE - Sectors Allocation Comparison

Sectors	NAPR	QQQE
Technology	50.7%	51.0%
Communication Services	15.8%	8.4%
Consumer Cyclical	12.5%	9.8%
Consumer Defensive	8.7%	7.0%
Healthcare	5.1%	7.8%
Industrials	3.3%	9.3%
Utilities	1.6%	3.4%
Basic Materials	1.3%	0.8%
Energy	0.7%	1.7%
Financial Services	0.2%	0.8%
Real Estate	0.1%	0.7%

Return for Risk

NAPR vs. QQQE — 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

QQQE

QQQE Risk / Return Rank: 49
QQQE Sharpe Ratio Rank: 47
QQQE Sortino Ratio Rank: 45
QQQE Omega Ratio Rank: 44
QQQE Calmar Ratio Rank: 56
QQQE Martin Ratio Rank: 54

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. QQQE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Nasdaq-100 Power Buffer ETF - April (NAPR) and Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE). 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	QQQE	Difference
Sharpe ratio: Return per unit of total volatility	3.44	1.35	+2.09
Sortino ratio: Return per unit of downside risk	5.46	1.90	+3.57
Omega ratio: Gain probability vs. loss probability	1.78	1.24	+0.54
Calmar ratio: Return relative to maximum drawdown	8.60	2.27	+6.33
Martin ratio: Return relative to average drawdown	43.88	7.47	+36.40

NAPR vs. QQQE - Sharpe Ratio Comparison

The current NAPR Sharpe Ratio is 3.44, which is higher than the QQQE Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of NAPR and QQQE, 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. QQQE - Drawdown Comparison

The maximum NAPR drawdown since its inception was -16.53%, smaller than the maximum QQQE drawdown of -32.14%. Use the drawdown chart below to compare losses from any high point for NAPR and QQQE.

Drawdown Indicators

	NAPR	QQQE	Difference
Max Drawdown Largest peak-to-trough decline	-16.53%	-32.14%	+15.61%
Max Drawdown (1Y) Largest decline over 1 year	-1.79%	-9.41%	+7.62%
Max Drawdown (3Y) Largest decline over 3 years	-14.52%	-21.38%	+6.86%
Max Drawdown (5Y) Largest decline over 5 years	-16.53%	-32.14%	+15.61%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.14%	—
Current Drawdown Current decline from peak	-0.55%	-3.35%	+2.80%
Average Drawdown Average peak-to-trough decline	-2.25%	-5.14%	+2.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.35%	2.86%	-2.51%

Volatility

NAPR vs. QQQE - Volatility Comparison

The current volatility for Innovator Nasdaq-100 Power Buffer ETF - April (NAPR) is 1.89%, while Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) has a volatility of 4.96%. This indicates that NAPR experiences smaller price fluctuations and is considered to be less risky than QQQE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NAPR	QQQE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.89%	4.96%	-3.07%
Volatility (6M) Calculated over the trailing 6-month period	3.82%	12.91%	-9.09%
Volatility (1Y) Calculated over the trailing 1-year period	4.48%	15.82%	-11.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.32%	20.58%	-9.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.57%	20.74%	-10.17%

NAPR vs. QQQE - Expense Ratio Comparison

NAPR has a 0.79% expense ratio, which is higher than QQQE's 0.35% expense ratio.

Dividends

NAPR vs. QQQE - Dividend Comparison

NAPR has not paid dividends to shareholders, while QQQE's dividend yield for the trailing twelve months is around 0.57%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares	0.57%	0.52%	0.86%	0.79%	0.98%	3.83%	0.54%	0.74%	0.80%	0.65%	1.17%	0.57%

Frequently Asked Questions

Can I hold both NAPR and QQQE in my portfolio?

NAPR and QQQE have a correlation of 0.82, 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 QQQE?

QQQE has higher volatility (4.96%) compared to NAPR (1.89%). In terms of maximum drawdown, NAPR dropped -16.53% vs QQQE's -32.14%.

Which ETF is better, NAPR or QQQE?

On 5-year performance, NAPR leads with 9.58% vs 9.06% for QQQE. On fees, QQQE is cheaper at 0.35% per year. On volatility, NAPR has been the lower-risk option at 1.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NAPR or QQQE?

Over the 5-year period, NAPR has performed better with a 9.58% return vs 9.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NAPR or QQQE?

QQQE is cheaper with a 0.35% expense ratio, compared with 0.79% for NAPR.

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

QQQE has the higher dividend yield at 0.57%, compared with 0.00% for NAPR.

What is the main difference between NAPR and QQQE?

NAPR tracks NASDAQ-100 Index, while QQQE tracks NASDAQ-100 Equal Weighted Index. They also come from different issuers: Innovator and Direxion. Their fees differ too: 0.79% for NAPR and 0.35% for QQQE.

Which has better risk-adjusted returns?

NAPR currently has the higher Sharpe Ratio (3.44 vs 1.35), 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.