NDEC vs. ATMP

Last updated Jul 11, 2026

NDEC (Innovator Growth-100 Power Buffer ETF - December) and ATMP (Barclays ETN+ Select MLP ETN) are both exchange-traded funds - NDEC is a Defined Outcome fund tracking the Invesco QQQ Trust, Series 1, while ATMP is a MLPs fund tracking the CIBC Atlas Select MLP VWAP. Both are passively managed. Over the past year, NDEC returned 16.01% vs 21.72% for ATMP. At a 0.14 correlation, their price movements are largely independent. NDEC charges 0.79%/yr vs 0.95%/yr for ATMP.

Performance

NDEC vs. ATMP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Growth-100 Power Buffer ETF - December (NDEC) and Barclays ETN+ Select MLP ETN (ATMP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NDEC achieves a 8.42% return, which is significantly lower than ATMP's 22.14% return.

NDEC

• 1D: 0.30%
• 1M: 0.95%
• 6M: 7.35%
• YTD: 8.42%
• 1Y: 16.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ATMP

• 1D: -0.31%
• 1M: 1.28%
• 6M: 21.51%
• YTD: 22.14%
• 1Y: 21.72%
• 3Y*: 20.35%
• 5Y*: 16.24%
• 10Y*: 4.46%

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

NDEC vs. ATMP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NDEC Innovator Growth-100 Power Buffer ETF - December	8.42%	13.67%	0.41%
ATMP Barclays ETN+ Select MLP ETN	22.14%	1.73%	-6.61%

Correlation

The correlation between NDEC and ATMP is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.14
Correlation (All Time) Calculated using the full available price history since Dec 2, 2024	0.14

The correlation between NDEC and ATMP shifts across timeframes, from -0.14 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NDEC vs. ATMP — Risk / Return Rank

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

NDEC

NDEC Risk / Return Rank: 79
NDEC Sharpe Ratio Rank: 83
NDEC Sortino Ratio Rank: 83
NDEC Omega Ratio Rank: 85
NDEC Calmar Ratio Rank: 65
NDEC Martin Ratio Rank: 79

ATMP

ATMP Risk / Return Rank: 56
ATMP Sharpe Ratio Rank: 56
ATMP Sortino Ratio Rank: 56
ATMP Omega Ratio Rank: 51
ATMP Calmar Ratio Rank: 67
ATMP Martin Ratio Rank: 47

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.

NDEC vs. ATMP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Growth-100 Power Buffer ETF - December (NDEC) and Barclays ETN+ Select MLP ETN (ATMP). 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.

	NDEC	ATMP	Difference
Sharpe ratio: Return per unit of total volatility	2.09	1.53	+0.55
Sortino ratio: Return per unit of downside risk	2.95	2.18	+0.77
Omega ratio: Gain probability vs. loss probability	1.41	1.26	+0.14
Calmar ratio: Return relative to maximum drawdown	2.59	2.68	-0.09
Martin ratio: Return relative to average drawdown	12.05	6.29	+5.76

NDEC vs. ATMP - Sharpe Ratio Comparison

The current NDEC Sharpe Ratio is 2.09, which is higher than the ATMP Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of NDEC and ATMP, 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

NDEC vs. ATMP - Drawdown Comparison

The maximum NDEC drawdown since its inception was -12.98%, smaller than the maximum ATMP drawdown of -80.86%. Use the drawdown chart below to compare losses from any high point for NDEC and ATMP.

Drawdown Indicators

	NDEC	ATMP	Difference
Max Drawdown Largest peak-to-trough decline	-12.98%	-80.86%	+67.88%
Max Drawdown (1Y) Largest decline over 1 year	-6.19%	-8.30%	+2.11%
Max Drawdown (3Y) Largest decline over 3 years	—	-16.48%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-22.98%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-75.66%	—
Current Drawdown Current decline from peak	0.00%	-4.41%	+4.41%
Average Drawdown Average peak-to-trough decline	-1.40%	-30.94%	+29.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.33%	3.52%	-2.19%

Volatility

NDEC vs. ATMP - Volatility Comparison

The current volatility for Innovator Growth-100 Power Buffer ETF - December (NDEC) is 2.73%, while Barclays ETN+ Select MLP ETN (ATMP) has a volatility of 5.26%. This indicates that NDEC experiences smaller price fluctuations and is considered to be less risky than ATMP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NDEC	ATMP	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.73%	5.26%	-2.53%
Volatility (6M) Calculated over the trailing 6-month period	6.70%	11.41%	-4.71%
Volatility (1Y) Calculated over the trailing 1-year period	7.69%	14.50%	-6.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.51%	22.11%	-10.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.51%	27.64%	-16.13%

NDEC vs. ATMP - Expense Ratio Comparison

NDEC has a 0.79% expense ratio, which is lower than ATMP's 0.95% expense ratio.

Dividends

NDEC vs. ATMP - Dividend Comparison

Neither NDEC nor ATMP has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both NDEC and ATMP in my portfolio?

NDEC and ATMP have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NDEC or ATMP?

ATMP has higher volatility (5.26%) compared to NDEC (2.73%). In terms of maximum drawdown, NDEC dropped -12.98% vs ATMP's -80.86%.

Which ETF is better, NDEC or ATMP?

On 1-year performance, ATMP leads with 21.72% vs 16.01% for NDEC. On fees, NDEC is cheaper at 0.79% per year. On volatility, NDEC has been the lower-risk option at 2.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NDEC or ATMP?

Over the 1-year period, ATMP has performed better with a 21.72% return vs 16.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NDEC or ATMP?

NDEC is cheaper with a 0.79% expense ratio, compared with 0.95% for ATMP.

Which ETF pays a higher dividend yield, NDEC or ATMP?

NDEC and ATMP have nearly identical dividend yields, around 0.00%.

What is the main difference between NDEC and ATMP?

NDEC is categorized as Defined Outcome, while ATMP is MLPs. NDEC tracks Invesco QQQ Trust, Series 1, while ATMP tracks CIBC Atlas Select MLP VWAP. They also come from different issuers: Innovator and Barclays Capital. Their fees differ too: 0.79% for NDEC and 0.95% for ATMP.

Which has better risk-adjusted returns?

NDEC currently has the higher Sharpe Ratio (2.09 vs 1.53), 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.