NBFR vs. QQQ

Last updated Aug 1, 2026

NBFR (Innovator Nasdaq-100 Managed 10 Buffer ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - NBFR is a Defined Outcome fund actively managed by Innovator, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. NBFR is actively managed, while QQQ is passively managed. Their correlation of 0.93 means they have usually moved in the same direction. NBFR charges 0.79%/yr vs 0.18%/yr for QQQ.

Performance

NBFR vs. QQQ - Performance Comparison

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

Returns By Period

NBFR

• 1D: 0.95%
• 1M: -1.80%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

QQQ

• 1D: 0.65%
• 1M: -3.45%
• 6M: 10.89%
• YTD: 12.26%
• 1Y: 24.81%
• 3Y*: 22.29%
• 5Y*: 14.23%
• 10Y*: 20.44%
• ALL TIME*: 10.64%

*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)
NBFR Innovator Nasdaq-100 Managed 10 Buffer ETF	$83.82K	$58.88K	$223.65K
QQQ Invesco QQQ ETF	$30.32B	$28.40B	$31.45B

NBFR vs. QQQ - Yearly Performance Comparison

	2026 (YTD)
NBFR Innovator Nasdaq-100 Managed 10 Buffer ETF	3.36%
QQQ Invesco QQQ ETF	14.67%

Correlation

The correlation between NBFR and QQQ is 0.93, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 24, 2026	0.93

Return for Risk

NBFR vs. QQQ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NBFR

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

QQQ

QQQ Risk / Return Rank: 49
QQQ Sharpe Ratio Rank: 47
QQQ Sortino Ratio Rank: 46
QQQ Omega Ratio Rank: 45
QQQ Calmar Ratio Rank: 53
QQQ Martin Ratio Rank: 52

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.

NBFR vs. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Nasdaq-100 Managed 10 Buffer ETF (NBFR) and Invesco QQQ ETF (QQQ). 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	QQQ	Difference
Sharpe ratio: Return per unit of total volatility	—	1.16	—
Sortino ratio: Return per unit of downside risk	—	1.65	—
Omega ratio: Gain probability vs. loss probability	—	1.21	—
Calmar ratio: Return relative to maximum drawdown	—	1.88	—
Martin ratio: Return relative to average drawdown	—	6.00	—

Drawdowns

NBFR vs. QQQ - Drawdown Comparison

The maximum NBFR drawdown since its inception was -8.49%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for NBFR and QQQ.

Drawdown Indicators

	NBFR	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-8.49%	-82.97%	+74.48%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.96%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-22.77%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-35.12%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.12%	—
Current Drawdown Current decline from peak	-4.58%	-7.69%	+3.11%
Average Drawdown Average peak-to-trough decline	-2.05%	-32.62%	+30.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.74%	—

Volatility

Volatility by Period

	NBFR	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.87%	—
Volatility (6M) Calculated over the trailing 6-month period	—	16.08%	—
Volatility (1Y) Calculated over the trailing 1-year period	16.83%	19.38%	-2.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.83%	22.90%	-6.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.83%	22.50%	-5.67%

NBFR vs. QQQ - Expense Ratio Comparison

NBFR has a 0.79% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

NBFR vs. QQQ - Dividend Comparison

NBFR's dividend yield for the trailing twelve months is around 0.02%, less than QQQ's 0.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NBFR Innovator Nasdaq-100 Managed 10 Buffer ETF	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QQQ Invesco QQQ ETF	0.44%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%

Frequently Asked Questions

Can I hold both NBFR and QQQ in my portfolio?

With a correlation of 0.93, NBFR and QQQ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, NBFR or QQQ?

On fees, QQQ is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NBFR or QQQ?

QQQ is cheaper with a 0.18% expense ratio, compared with 0.79% for NBFR.

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

QQQ has the higher dividend yield at 0.44%, compared with 0.02% for NBFR.

What is the main difference between NBFR and QQQ?

NBFR is categorized as Defined Outcome, while QQQ is Nasdaq-100. They also come from different issuers: Innovator and Invesco. Their fees differ too: 0.79% for NBFR and 0.18% for QQQ.