NJUL vs. QEW

Last updated Jun 24, 2026

NJUL (Innovator Nasdaq-100 Power Buffer ETF - July) and QEW (Invesco QQQ Equal Weight ETF) are both Nasdaq-100 funds - NJUL tracks the Invesco QQQ Trust while QEW tracks the Nasdaq-100 Equal Weighted Index. Both are passively managed. A 0.77 correlation means they provide meaningful diversification when combined. NJUL charges 0.79%/yr vs 0.25%/yr for QEW.

Performance

NJUL vs. QEW - Performance Comparison

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

Returns By Period

NJUL

• 1D: -0.07%
• 1M: 0.49%
• YTD: 6.33%
• 6M: 5.98%
• 1Y: 17.91%
• 3Y*: 14.73%
• 5Y*: 10.88%
• 10Y*: —

QEW

• 1D: -2.01%
• 1M: 1.99%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NJUL vs. QEW - Yearly Performance Comparison

	2026 (YTD)
NJUL Innovator Nasdaq-100 Power Buffer ETF - July	5.98%
QEW Invesco QQQ Equal Weight ETF	17.75%

Correlation

The correlation between NJUL and QEW is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 18, 2026	0.77

Return for Risk

NJUL vs. QEW — Risk / Return Rank

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

NJUL

NJUL Risk / Return Rank: 85
NJUL Sharpe Ratio Rank: 83
NJUL Sortino Ratio Rank: 87
NJUL Omega Ratio Rank: 88
NJUL Calmar Ratio Rank: 76
NJUL Martin Ratio Rank: 89

QEW

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

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.

NJUL vs. QEW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Nasdaq-100 Power Buffer ETF - July (NJUL) and Invesco QQQ Equal Weight ETF (QEW). 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.

	NJUL	QEW	Difference
Sharpe ratio: Return per unit of total volatility	2.49	—	—
Sortino ratio: Return per unit of downside risk	3.64	—	—
Omega ratio: Gain probability vs. loss probability	1.51	—	—
Calmar ratio: Return relative to maximum drawdown	3.65	—	—
Martin ratio: Return relative to average drawdown	18.95	—	—

Drawdowns

NJUL vs. QEW - Drawdown Comparison

The maximum NJUL drawdown since its inception was -14.37%, which is greater than QEW's maximum drawdown of -5.87%. Use the drawdown chart below to compare losses from any high point for NJUL and QEW.

Drawdown Indicators

	NJUL	QEW	Difference
Max Drawdown Largest peak-to-trough decline	-14.37%	-5.87%	-8.50%
Max Drawdown (1Y) Largest decline over 1 year	-4.93%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-13.58%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-14.37%	—	—
Current Drawdown Current decline from peak	-0.07%	-3.04%	+2.97%
Average Drawdown Average peak-to-trough decline	-2.29%	-1.11%	-1.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	—	—

Volatility

Volatility by Period

	NJUL	QEW	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.63%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.21%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	7.30%	20.39%	-13.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.57%	20.39%	-8.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.02%	20.39%	-9.37%

NJUL vs. QEW - Expense Ratio Comparison

NJUL has a 0.79% expense ratio, which is higher than QEW's 0.25% expense ratio.

Dividends

NJUL vs. QEW - Dividend Comparison

NJUL has not paid dividends to shareholders, while QEW's dividend yield for the trailing twelve months is around 0.11%.

Position	TTM
NJUL Innovator Nasdaq-100 Power Buffer ETF - July	0.00%
QEW Invesco QQQ Equal Weight ETF	0.11%

Frequently Asked Questions

Can I hold both NJUL and QEW in my portfolio?

NJUL and QEW have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NJUL or QEW?

On fees, QEW is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NJUL or QEW?

QEW is cheaper with a 0.25% expense ratio, compared with 0.79% for NJUL.

Which ETF pays a higher dividend yield, NJUL or QEW?

QEW has the higher dividend yield at 0.11%, compared with 0.00% for NJUL.

What is the main difference between NJUL and QEW?

NJUL tracks Invesco QQQ Trust, while QEW tracks Nasdaq-100 Equal Weighted Index. They also come from different issuers: Innovator and Invesco. Their fees differ too: 0.79% for NJUL and 0.25% for QEW.