NBFR vs. QQQ

Last updated Jul 12, 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 0.92 suggests significant overlap in exposure. 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: 0.57%
• 1M: 2.57%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QQQ

• 1D: 0.31%
• 1M: 1.28%
• 6M: 16.05%
• YTD: 18.38%
• 1Y: 31.54%
• 3Y*: 26.10%
• 5Y*: 15.67%
• 10Y*: 21.45%

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

NBFR vs. QQQ - Yearly Performance Comparison

	2026 (YTD)
NBFR Innovator Nasdaq-100 Managed 10 Buffer ETF	7.07%
QQQ Invesco QQQ ETF	20.92%

Correlation

The correlation between NBFR and QQQ is 0.92, 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 24, 2026	0.92

Return for Risk

NBFR vs. QQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments 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: 64
QQQ Sharpe Ratio Rank: 65
QQQ Sortino Ratio Rank: 60
QQQ Omega Ratio Rank: 62
QQQ Calmar Ratio Rank: 66
QQQ Martin Ratio Rank: 66

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. 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	—	1.70	—
Sortino ratio: Return per unit of downside risk	—	2.28	—
Omega ratio: Gain probability vs. loss probability	—	1.30	—
Calmar ratio: Return relative to maximum drawdown	—	2.62	—
Martin ratio: Return relative to average drawdown	—	9.43	—

Drawdowns

NBFR vs. QQQ - Drawdown Comparison

The maximum NBFR drawdown since its inception was -5.85%, 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	-5.85%	-82.97%	+77.12%
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	-1.16%	-2.66%	+1.50%
Average Drawdown Average peak-to-trough decline	-1.63%	-32.67%	+31.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.32%	—

Volatility

Volatility by Period

	NBFR	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	8.71%	—
Volatility (6M) Calculated over the trailing 6-month period	—	15.28%	—
Volatility (1Y) Calculated over the trailing 1-year period	15.70%	18.47%	-2.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.70%	22.77%	-7.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.70%	22.43%	-6.73%

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 0.42% 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	0.42%	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 0.92, 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 0.42%, 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.