NBFR vs. PJUL
NBFR (Innovator Nasdaq-100 Managed 10 Buffer ETF) and PJUL (Innovator U.S. Equity Power Buffer ETF - July) are both Defined Outcome funds from Innovator. NBFR is actively managed, while PJUL is passively managed. Their 0.75 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.79% expense ratio.
Performance
NBFR vs. PJUL - Performance Comparison
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Returns By Period
NBFR
- 1D
- 0.95%
- 1M
- -1.80%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
PJUL
- 1D
- 0.35%
- 1M
- 0.51%
- 6M
- 4.62%
- YTD
- 5.43%
- 1Y
- 11.10%
- 3Y*
- 12.02%
- 5Y*
- 10.37%
- 10Y*
- —
- ALL TIME*
- 8.71%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $83.82K | $58.88K | $223.65K | |
| $6.04M | $11.74M | $6.93M |
NBFR vs. PJUL - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
NBFR Innovator Nasdaq-100 Managed 10 Buffer ETF | 3.36% |
PJUL Innovator U.S. Equity Power Buffer ETF - July | 4.93% |
Correlation
The correlation between NBFR and PJUL is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Feb 24, 2026 | 0.75 |
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Return for Risk
NBFR vs. PJUL — Risk / Return Rank
NBFR
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
PJUL
NBFR vs. PJUL - 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 U.S. Equity Power Buffer ETF - July (PJUL). 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.
| NBFR | PJUL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.41 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.87 | — |
| Martin ratioReturn relative to average drawdown | — | 15.66 | — |
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Drawdowns
NBFR vs. PJUL - Drawdown Comparison
The maximum NBFR drawdown since its inception was -8.49%, smaller than the maximum PJUL drawdown of -18.17%. Use the drawdown chart below to compare losses from any high point for NBFR and PJUL.
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Drawdown Indicators
| NBFR | PJUL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.49% | -18.17% | +9.68% |
Max Drawdown (1Y)Largest decline over 1 year | — | -3.64% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -10.69% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -10.69% | — |
Current DrawdownCurrent decline from peak | -4.58% | -0.34% | -4.24% |
Average DrawdownAverage peak-to-trough decline | -2.05% | -1.45% | -0.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.67% | — |
Volatility
NBFR vs. PJUL - Volatility Comparison
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Volatility by Period
| NBFR | PJUL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.96% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 4.13% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 16.83% | 5.21% | +11.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.83% | 8.62% | +8.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.83% | 9.96% | +6.87% |
NBFR vs. PJUL - Expense Ratio Comparison
Both NBFR and PJUL have an expense ratio of 0.79%.
Dividends
NBFR vs. PJUL - Dividend Comparison
NBFR's dividend yield for the trailing twelve months is around 0.02%, while PJUL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
NBFR Innovator Nasdaq-100 Managed 10 Buffer ETF | 0.02% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PJUL Innovator U.S. Equity Power Buffer ETF - July | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.82% |
Frequently Asked Questions
NBFR and PJUL have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.79% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
NBFR and PJUL have the same expense ratio: 0.79% per year.
NBFR has the higher dividend yield at 0.02%, compared with 0.00% for PJUL.
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