NBFR vs. LOUP

Last updated Jun 6, 2026

NBFR (Innovator Nasdaq-100 Managed 10 Buffer ETF) and LOUP (Innovator Deepwater Frontier Tech ETF) are both exchange-traded funds - NBFR is a Defined Outcome fund actively managed by Innovator, while LOUP is a Technology Equities fund tracking the Deepwater Frontier Tech Index. NBFR is actively managed, while LOUP is passively managed. Their correlation of 0.82 suggests significant overlap in exposure. NBFR charges 0.79%/yr vs 0.70%/yr for LOUP.

Performance

NBFR vs. LOUP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Nasdaq-100 Managed 10 Buffer ETF (NBFR) and Innovator Deepwater Frontier Tech ETF (LOUP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

NBFR

• 1D: -4.05%
• 1M: 0.92%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

LOUP

• 1D: -6.15%
• 1M: 5.55%
• YTD: 21.20%
• 6M: 18.52%
• 1Y: 63.44%
• 3Y*: 34.23%
• 5Y*: 11.72%
• 10Y*: —

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

NBFR vs. LOUP - Yearly Performance Comparison

	2026 (YTD)
NBFR Innovator Nasdaq-100 Managed 10 Buffer ETF	3.19%
LOUP Innovator Deepwater Frontier Tech ETF	21.97%

Correlation

The correlation between NBFR and LOUP 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 (All Time) Calculated using the full available price history since Feb 25, 2026	0.82

Return for Risk

NBFR vs. LOUP — Risk / Return Rank

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

LOUP

LOUP Risk / Return Rank: 63
LOUP Sharpe Ratio Rank: 70
LOUP Sortino Ratio Rank: 61
LOUP Omega Ratio Rank: 60
LOUP Calmar Ratio Rank: 64
LOUP Martin Ratio Rank: 60

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.

NBFR vs. LOUP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Nasdaq-100 Managed 10 Buffer ETF (NBFR) and Innovator Deepwater Frontier Tech ETF (LOUP). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	NBFR	LOUP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.18	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.36	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	0.56	+0.34

Drawdowns

NBFR vs. LOUP - Drawdown Comparison

The maximum NBFR drawdown since its inception was -5.68%, smaller than the maximum LOUP drawdown of -58.68%. Use the drawdown chart below to compare losses from any high point for NBFR and LOUP.

Drawdown Indicators

	NBFR	LOUP	Difference
Max Drawdown Largest peak-to-trough decline	-5.68%	-58.68%	+53.00%
Max Drawdown (1Y) Largest decline over 1 year	—	-21.00%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-35.23%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-55.63%	—
Current Drawdown Current decline from peak	-4.55%	-7.24%	+2.69%
Average Drawdown Average peak-to-trough decline	-1.33%	-20.03%	+18.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	6.21%	—

Volatility

Volatility by Period

	NBFR	LOUP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.21%	—
Volatility (6M) Calculated over the trailing 6-month period	—	22.90%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.14%	29.20%	-16.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.14%	32.49%	-19.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.14%	32.03%	-18.89%

NBFR vs. LOUP - Expense Ratio Comparison

NBFR has a 0.79% expense ratio, which is higher than LOUP's 0.70% expense ratio.

Dividends

NBFR vs. LOUP - Dividend Comparison

NBFR's dividend yield for the trailing twelve months is around 0.02%, while LOUP has not paid dividends to shareholders.

Position	TTM
LOUP Innovator Deepwater Frontier Tech ETF	0.00%
NBFR Innovator Nasdaq-100 Managed 10 Buffer ETF	0.02%

Frequently Asked Questions

Can I hold both NBFR and LOUP in my portfolio?

NBFR and LOUP 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 ETF is better, NBFR or LOUP?

On fees, LOUP is cheaper at 0.70% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NBFR or LOUP?

LOUP is cheaper with a 0.70% expense ratio, compared with 0.79% for NBFR.

Which ETF pays a higher dividend yield, NBFR or LOUP?

NBFR has the higher dividend yield at 0.02%, compared with 0.00% for LOUP.

What is the main difference between NBFR and LOUP?

NBFR is categorized as Defined Outcome, while LOUP is Technology Equities. Their fees differ too: 0.79% for NBFR and 0.70% for LOUP.