NJUL vs. XTAP

Last updated Jul 16, 2026

NJUL (Innovator Nasdaq-100 Power Buffer ETF - July) and XTAP (Innovator U.S. Equity Accelerated Plus ETF) are both exchange-traded funds - NJUL is a Nasdaq-100 fund tracking the Invesco QQQ Trust, while XTAP is a Leveraged Equities fund actively managed by Innovator. NJUL is passively managed, while XTAP is actively managed. Over the past 5 years, NJUL returned 10.68%/yr vs 10.97%/yr for XTAP. Their correlation of 0.85 suggests significant overlap in exposure. Both charge a 0.79% expense ratio.

Performance

NJUL vs. XTAP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Nasdaq-100 Power Buffer ETF - July (NJUL) and Innovator U.S. Equity Accelerated Plus ETF (XTAP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NJUL achieves a 5.44% return, which is significantly lower than XTAP's 12.27% return.

NJUL

• 1D: -0.04%
• 1M: -0.75%
• 6M: 4.90%
• YTD: 5.44%
• 1Y: 11.93%
• 3Y*: 13.85%
• 5Y*: 10.68%
• 10Y*: —

XTAP

• 1D: 0.19%
• 1M: 0.87%
• 6M: 12.01%
• YTD: 12.27%
• 1Y: 19.00%
• 3Y*: 16.93%
• 5Y*: 10.97%
• 10Y*: —

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

NJUL vs. XTAP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
NJUL Innovator Nasdaq-100 Power Buffer ETF - July	5.44%	15.67%	13.93%	29.52%	-11.67%	6.00%
XTAP Innovator U.S. Equity Accelerated Plus ETF	12.27%	17.58%	14.26%	23.46%	-14.68%	12.26%

Correlation

The correlation between NJUL and XTAP is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since Apr 1, 2021	0.85

The correlation between NJUL and XTAP shifts across timeframes, from 0.76 (1 year) to 0.86 (5 years), reflecting how their relationship changes across market environments.

NJUL vs. XTAP - Sectors Allocation Comparison

Sectors	NJUL	XTAP
Technology	58.0%	35.7%
Communication Services	14.5%	11.3%
Consumer Cyclical	11.6%	10.2%
Consumer Defensive	6.6%	4.9%
Healthcare	3.7%	8.5%
Industrials	2.6%	8.3%
Utilities	1.2%	2.4%
Basic Materials	1.0%	1.8%
Energy	0.5%	3.5%
Financial Services	0.2%	11.6%
Real Estate	0.1%	1.9%

Return for Risk

NJUL vs. XTAP — Risk / Return Rank

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

NJUL

NJUL Risk / Return Rank: 66
NJUL Sharpe Ratio Rank: 61
NJUL Sortino Ratio Rank: 62
NJUL Omega Ratio Rank: 66
NJUL Calmar Ratio Rank: 60
NJUL Martin Ratio Rank: 80

XTAP

XTAP Risk / Return Rank: 98
XTAP Sharpe Ratio Rank: 98
XTAP Sortino Ratio Rank: 98
XTAP Omega Ratio Rank: 98
XTAP Calmar Ratio Rank: 98
XTAP Martin Ratio Rank: 98

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. XTAP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Nasdaq-100 Power Buffer ETF - July (NJUL) and Innovator U.S. Equity Accelerated Plus ETF (XTAP). 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	XTAP	Difference
Sharpe ratio: Return per unit of total volatility	1.64	4.01	-2.37
Sortino ratio: Return per unit of downside risk	2.33	6.66	-4.33
Omega ratio: Gain probability vs. loss probability	1.32	2.03	-0.71
Calmar ratio: Return relative to maximum drawdown	2.43	11.12	-8.69
Martin ratio: Return relative to average drawdown	12.15	59.03	-46.89

NJUL vs. XTAP - Sharpe Ratio Comparison

The current NJUL Sharpe Ratio is 1.64, which is lower than the XTAP Sharpe Ratio of 4.01. The chart below compares the historical Sharpe Ratios of NJUL and XTAP, 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

NJUL vs. XTAP - Drawdown Comparison

The maximum NJUL drawdown since its inception was -14.37%, smaller than the maximum XTAP drawdown of -22.13%. Use the drawdown chart below to compare losses from any high point for NJUL and XTAP.

Drawdown Indicators

	NJUL	XTAP	Difference
Max Drawdown Largest peak-to-trough decline	-14.37%	-22.13%	+7.76%
Max Drawdown (1Y) Largest decline over 1 year	-4.93%	-1.72%	-3.21%
Max Drawdown (3Y) Largest decline over 3 years	-13.58%	-11.83%	-1.75%
Max Drawdown (5Y) Largest decline over 5 years	-14.37%	-22.13%	+7.76%
Current Drawdown Current decline from peak	-1.11%	0.00%	-1.11%
Average Drawdown Average peak-to-trough decline	-2.28%	-3.39%	+1.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.98%	0.32%	+0.66%

Volatility

NJUL vs. XTAP - Volatility Comparison

Innovator Nasdaq-100 Power Buffer ETF - July (NJUL) has a higher volatility of 2.42% compared to Innovator U.S. Equity Accelerated Plus ETF (XTAP) at 1.62%. This indicates that NJUL's price experiences larger fluctuations and is considered to be riskier than XTAP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NJUL	XTAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.42%	1.62%	+0.80%
Volatility (6M) Calculated over the trailing 6-month period	5.66%	3.82%	+1.84%
Volatility (1Y) Calculated over the trailing 1-year period	7.32%	4.76%	+2.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.61%	14.55%	-2.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.00%	14.28%	-3.28%

NJUL vs. XTAP - Expense Ratio Comparison

Both NJUL and XTAP have an expense ratio of 0.79%.

Dividends

NJUL vs. XTAP - Dividend Comparison

Neither NJUL nor XTAP has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both NJUL and XTAP in my portfolio?

NJUL and XTAP have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NJUL or XTAP?

NJUL has higher volatility (2.42%) compared to XTAP (1.62%). In terms of maximum drawdown, NJUL dropped -14.37% vs XTAP's -22.13%.

Which ETF is better, NJUL or XTAP?

On 5-year performance, XTAP leads with 10.97% vs 10.68% for NJUL. Both ETFs have the same 0.79% expense ratio. On volatility, XTAP has been the lower-risk option at 1.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NJUL or XTAP?

Over the 5-year period, XTAP has performed better with a 10.97% return vs 10.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NJUL or XTAP?

NJUL and XTAP have the same expense ratio: 0.79% per year.

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

NJUL and XTAP have nearly identical dividend yields, around 0.00%.

What is the main difference between NJUL and XTAP?

NJUL is categorized as Nasdaq-100, while XTAP is Leveraged Equities.

Which has better risk-adjusted returns?

XTAP currently has the higher Sharpe Ratio (4.01 vs 1.64), 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.