NJUL vs. QQQM

Last updated Jun 4, 2026

NJUL (Innovator Nasdaq-100 Power Buffer ETF - July) and QQQM (Invesco NASDAQ 100 ETF) are both Nasdaq-100 funds - NJUL tracks the Invesco QQQ Trust while QQQM tracks the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, NJUL returned 10.86%/yr vs 18.07%/yr for QQQM. Their correlation of 0.93 suggests significant overlap in exposure. NJUL charges 0.79%/yr vs 0.15%/yr for QQQM.

Performance

NJUL vs. QQQM - 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 NASDAQ 100 ETF (QQQM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NJUL achieves a 6.16% return, which is significantly lower than QQQM's 21.39% return.

NJUL

• 1D: 0.02%
• 1M: 1.39%
• YTD: 6.16%
• 6M: 6.40%
• 1Y: 18.75%
• 3Y*: 14.95%
• 5Y*: 10.86%
• 10Y*: —

QQQM

• 1D: -0.20%
• 1M: 10.67%
• YTD: 21.39%
• 6M: 19.75%
• 1Y: 41.98%
• 3Y*: 28.89%
• 5Y*: 18.07%
• 10Y*: —

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

NJUL vs. QQQM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
NJUL Innovator Nasdaq-100 Power Buffer ETF - July	6.16%	15.67%	13.93%	29.52%	-11.67%	7.86%	3.15%
QQQM Invesco NASDAQ 100 ETF	21.39%	20.85%	25.68%	55.01%	-32.52%	27.45%	6.67%

Correlation

The correlation between NJUL and QQQM is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since Oct 14, 2020	0.93

The correlation between NJUL and QQQM has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

NJUL vs. QQQM - Sectors Allocation Comparison

Sectors	NJUL	QQQM
Technology	54.2%	53.8%
Communication Services	15.5%	15.8%
Consumer Cyclical	12.2%	12.3%
Consumer Defensive	7.6%	7.7%
Healthcare	4.2%	4.2%
Industrials	2.8%	2.8%
Utilities	1.4%	1.4%
Basic Materials	1.2%	1.1%
Energy	0.6%	0.6%
Financial Services	0.2%	0.2%
Real Estate	0.1%	0.1%

Return for Risk

NJUL vs. QQQM — Risk / Return Rank

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

NJUL

NJUL Risk / Return Rank: 80
NJUL Sharpe Ratio Rank: 75
NJUL Sortino Ratio Rank: 79
NJUL Omega Ratio Rank: 81
NJUL Calmar Ratio Rank: 76
NJUL Martin Ratio Rank: 88

QQQM

QQQM Risk / Return Rank: 74
QQQM Sharpe Ratio Rank: 80
QQQM Sortino Ratio Rank: 75
QQQM Omega Ratio Rank: 75
QQQM Calmar Ratio Rank: 69
QQQM Martin Ratio Rank: 71

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. QQQM - 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 NASDAQ 100 ETF (QQQM). 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.

	NJUL	QQQM	Difference
Sharpe ratio: Return per unit of total volatility	2.45	2.65	-0.20
Sortino ratio: Return per unit of downside risk	3.56	3.46	+0.10
Omega ratio: Gain probability vs. loss probability	1.49	1.45	+0.03
Calmar ratio: Return relative to maximum drawdown	3.82	3.53	+0.30
Martin ratio: Return relative to average drawdown	19.60	13.52	+6.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NJUL vs. QQQM - Sharpe Ratio Comparison

The current NJUL Sharpe Ratio is 2.45, which is comparable to the QQQM Sharpe Ratio of 2.65. The chart below compares the historical Sharpe Ratios of NJUL and QQQM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NJUL	QQQM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.45	2.65	-0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.94	0.82	+0.13
Sharpe Ratio (All Time) Calculated using the full available price history	1.01	0.85	+0.16

Drawdowns

NJUL vs. QQQM - Drawdown Comparison

The maximum NJUL drawdown since its inception was -14.37%, smaller than the maximum QQQM drawdown of -35.04%. Use the drawdown chart below to compare losses from any high point for NJUL and QQQM.

Drawdown Indicators

	NJUL	QQQM	Difference
Max Drawdown Largest peak-to-trough decline	-14.37%	-35.04%	+20.67%
Max Drawdown (1Y) Largest decline over 1 year	-4.93%	-11.96%	+7.03%
Max Drawdown (3Y) Largest decline over 3 years	-13.58%	-22.70%	+9.12%
Max Drawdown (5Y) Largest decline over 5 years	-14.37%	-35.04%	+20.67%
Current Drawdown Current decline from peak	0.00%	-0.20%	+0.20%
Average Drawdown Average peak-to-trough decline	-2.31%	-8.25%	+5.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	3.11%	-2.15%

Volatility

NJUL vs. QQQM - Volatility Comparison

The current volatility for Innovator Nasdaq-100 Power Buffer ETF - July (NJUL) is 0.40%, while Invesco NASDAQ 100 ETF (QQQM) has a volatility of 4.48%. This indicates that NJUL experiences smaller price fluctuations and is considered to be less risky than QQQM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NJUL	QQQM	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.40%	4.48%	-4.08%
Volatility (6M) Calculated over the trailing 6-month period	5.33%	12.05%	-6.72%
Volatility (1Y) Calculated over the trailing 1-year period	7.71%	15.91%	-8.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.56%	22.24%	-10.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.06%	22.12%	-11.06%

NJUL vs. QQQM - Expense Ratio Comparison

NJUL has a 0.79% expense ratio, which is higher than QQQM's 0.15% expense ratio.

Dividends

NJUL vs. QQQM - Dividend Comparison

NJUL has not paid dividends to shareholders, while QQQM's dividend yield for the trailing twelve months is around 0.41%.

Position	TTM	2025	2024	2023	2022	2021	2020
NJUL Innovator Nasdaq-100 Power Buffer ETF - July	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QQQM Invesco NASDAQ 100 ETF	0.41%	0.50%	0.61%	0.65%	0.83%	0.40%	0.16%

Frequently Asked Questions

Can I hold both NJUL and QQQM in my portfolio?

With a correlation of 0.91, NJUL and QQQM 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 is riskier, NJUL or QQQM?

QQQM has higher volatility (4.48%) compared to NJUL (0.40%). In terms of maximum drawdown, NJUL dropped -14.37% vs QQQM's -35.04%.

Which ETF is better, NJUL or QQQM?

On 5-year performance, QQQM leads with 18.07% vs 10.86% for NJUL. On fees, QQQM is cheaper at 0.15% per year. On volatility, NJUL has been the lower-risk option at 0.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NJUL or QQQM?

Over the 5-year period, QQQM has performed better with a 18.07% return vs 10.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NJUL or QQQM?

QQQM is cheaper with a 0.15% expense ratio, compared with 0.79% for NJUL.

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

QQQM has the higher dividend yield at 0.41%, compared with 0.00% for NJUL.

What is the main difference between NJUL and QQQM?

NJUL tracks Invesco QQQ Trust, while QQQM tracks NASDAQ-100 Index. They also come from different issuers: Innovator and Invesco. Their fees differ too: 0.79% for NJUL and 0.15% for QQQM.

Which has better risk-adjusted returns?

QQQM currently has the higher Sharpe Ratio (2.65 vs 2.45), 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.