NAPR vs. QTOP

Last updated Aug 4, 2026

NAPR (Innovator Nasdaq-100 Power Buffer ETF - April) and QTOP (iShares Nasdaq Top 30 Stocks ETF) are both Nasdaq-100 funds - NAPR tracks the NASDAQ-100 Index while QTOP tracks the Nasdaq-100 Top 30 Index. Both are passively managed. Over the past year, NAPR returned 15.49% vs 28.78% for QTOP. Their correlation of 0.89 means they have usually moved in the same direction. NAPR charges 0.79%/yr vs 0.20%/yr for QTOP.

Performance

NAPR vs. QTOP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Nasdaq-100 Power Buffer ETF - April (NAPR) and iShares Nasdaq Top 30 Stocks ETF (QTOP). 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 QTOP's 14.73% return.

NAPR

• 1D: 0.50%
• 1M: 0.69%
• 6M: 9.63%
• YTD: 10.42%
• 1Y: 15.49%
• 3Y*: 12.25%
• 5Y*: 9.51%
• 10Y*: —
• ALL TIME*: 10.78%

QTOP

• 1D: 2.18%
• 1M: -1.61%
• 6M: 12.36%
• YTD: 14.73%
• 1Y: 28.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 25.18%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NAPR Innovator Nasdaq-100 Power Buffer ETF - April	$239.73K	$276.59K	$582.80K
QTOP iShares Nasdaq Top 30 Stocks ETF	$6.54M	$5.91M	$7.12M

NAPR vs. QTOP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NAPR Innovator Nasdaq-100 Power Buffer ETF - April	10.42%	6.56%	3.10%
QTOP iShares Nasdaq Top 30 Stocks ETF	14.73%	22.19%	6.25%

Correlation

The correlation between NAPR and QTOP is 0.87, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.87
Correlation (All Time) Calculated using the full available price history since Oct 24, 2024	0.89

The correlation between NAPR and QTOP has been stable across timeframes, ranging from 0.87 to 0.89 - a consistent structural relationship.

NAPR vs. QTOP - Sectors Allocation Comparison

Sectors	NAPR	QTOP
Technology	50.7%	67.0%
Communication Services	15.8%	15.2%
Consumer Cyclical	12.5%	9.1%
Consumer Defensive	8.7%	7.2%
Healthcare	5.1%	2.9%
Industrials	3.3%	0.9%
Utilities	1.6%	-
Basic Materials	1.3%	1.5%
Energy	0.7%	-
Financial Services	0.2%	-
Real Estate	0.1%	-

Return for Risk

NAPR vs. QTOP — Risk / Return Rank

Compare historical risk-adjusted metric ranks 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: 97

QTOP

QTOP Risk / Return Rank: 56
QTOP Sharpe Ratio Rank: 55
QTOP Sortino Ratio Rank: 53
QTOP Omega Ratio Rank: 52
QTOP Calmar Ratio Rank: 62
QTOP Martin Ratio Rank: 57

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NAPR vs. QTOP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Nasdaq-100 Power Buffer ETF - April (NAPR) and iShares Nasdaq Top 30 Stocks ETF (QTOP). 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	QTOP	Difference
Sharpe ratio: Return per unit of total volatility	3.29	1.35	+1.94
Sortino ratio: Return per unit of downside risk	5.23	1.89	+3.33
Omega ratio: Gain probability vs. loss probability	1.74	1.24	+0.50
Calmar ratio: Return relative to maximum drawdown	7.55	2.22	+5.33
Martin ratio: Return relative to average drawdown	36.55	6.87	+29.68

NAPR vs. QTOP - Sharpe Ratio Comparison

The current NAPR Sharpe Ratio is 3.29, which is higher than the QTOP Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of NAPR and QTOP, 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. QTOP - Drawdown Comparison

The maximum NAPR drawdown since its inception was -16.53%, smaller than the maximum QTOP drawdown of -23.28%. Use the drawdown chart below to compare losses from any high point for NAPR and QTOP.

Drawdown Indicators

	NAPR	QTOP	Difference
Max Drawdown Largest peak-to-trough decline	-16.53%	-23.28%	+6.75%
Max Drawdown (1Y) Largest decline over 1 year	-2.06%	-13.02%	+10.96%
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	-0.20%	-6.70%	+6.50%
Average Drawdown Average peak-to-trough decline	-2.24%	-3.93%	+1.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.42%	4.20%	-3.78%

Volatility

NAPR vs. QTOP - Volatility Comparison

The current volatility for Innovator Nasdaq-100 Power Buffer ETF - April (NAPR) is 2.03%, while iShares Nasdaq Top 30 Stocks ETF (QTOP) has a volatility of 8.45%. This indicates that NAPR experiences smaller price fluctuations and is considered to be less risky than QTOP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NAPR	QTOP	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.03%	8.45%	-6.42%
Volatility (6M) Calculated over the trailing 6-month period	4.12%	18.07%	-13.95%
Volatility (1Y) Calculated over the trailing 1-year period	4.73%	21.41%	-16.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.34%	23.81%	-12.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.55%	23.81%	-13.26%

NAPR vs. QTOP - Expense Ratio Comparison

NAPR has a 0.79% expense ratio, which is higher than QTOP's 0.20% expense ratio.

Dividends

NAPR vs. QTOP - Dividend Comparison

NAPR has not paid dividends to shareholders, while QTOP's dividend yield for the trailing twelve months is around 0.34%.

Position	TTM	2025	2024
NAPR Innovator Nasdaq-100 Power Buffer ETF - April	0.00%	0.00%	0.00%
QTOP iShares Nasdaq Top 30 Stocks ETF	0.34%	0.38%	0.11%

Frequently Asked Questions

Can I hold both NAPR and QTOP in my portfolio?

NAPR and QTOP have a correlation of 0.87, 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 QTOP?

QTOP has higher volatility (8.45%) compared to NAPR (2.03%). In terms of maximum drawdown, NAPR dropped -16.53% vs QTOP's -23.28%.

Which ETF is better, NAPR or QTOP?

On 1-year performance, QTOP leads with 28.78% vs 15.49% for NAPR. On fees, QTOP is cheaper at 0.20% per year. On volatility, NAPR has been the lower-risk option at 2.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NAPR or QTOP?

Over the 1-year period, QTOP has performed better with a 28.78% return vs 15.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NAPR or QTOP?

QTOP is cheaper with a 0.20% expense ratio, compared with 0.79% for NAPR.

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

QTOP has the higher dividend yield at 0.34%, compared with 0.00% for NAPR.

What is the main difference between NAPR and QTOP?

NAPR tracks NASDAQ-100 Index, while QTOP tracks Nasdaq-100 Top 30 Index. They also come from different issuers: Innovator and iShares. Their fees differ too: 0.79% for NAPR and 0.20% for QTOP.

Which has better risk-adjusted returns?

NAPR currently has the higher Sharpe Ratio (3.29 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.