NOCT vs. APRB

Last updated Jul 22, 2026

NOCT (Innovator Growth-100 Power Buffer ETF - October) and APRB (Aptus April Buffer ETF) are both Defined Outcome funds. Both are actively managed. Their correlation of 0.89 suggests significant overlap in exposure. NOCT charges 0.79%/yr vs 0.25%/yr for APRB.

Performance

NOCT vs. APRB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Growth-100 Power Buffer ETF - October (NOCT) and Aptus April Buffer ETF (APRB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NOCT achieves a 7.95% return, which is significantly higher than APRB's 5.43% return.

NOCT

• 1D: 0.80%
• 1M: 0.18%
• 6M: 8.64%
• YTD: 7.95%
• 1Y: 13.41%
• 3Y*: 14.32%
• 5Y*: 10.12%
• 10Y*: —
• ALL TIME*: 10.89%

APRB

• 1D: 0.28%
• 1M: 0.54%
• 6M: 5.63%
• YTD: 5.43%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

NOCT vs. APRB - Yearly Performance Comparison

	2026 (YTD)	2025
NOCT Innovator Growth-100 Power Buffer ETF - October	7.95%	2.01%
APRB Aptus April Buffer ETF	5.43%	2.48%

Correlation

The correlation between NOCT and APRB is 0.89, 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 Oct 14, 2025	0.89

Return for Risk

NOCT vs. APRB — Risk / Return Rank

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

NOCT

NOCT Risk / Return Rank: 70
NOCT Sharpe Ratio Rank: 70
NOCT Sortino Ratio Rank: 70
NOCT Omega Ratio Rank: 74
NOCT Calmar Ratio Rank: 61
NOCT Martin Ratio Rank: 76

APRB

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.

NOCT vs. APRB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Growth-100 Power Buffer ETF - October (NOCT) and Aptus April Buffer ETF (APRB). 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.

	NOCT	APRB	Difference
Sharpe ratio: Return per unit of total volatility	1.72	—	—
Sortino ratio: Return per unit of downside risk	2.44	—	—
Omega ratio: Gain probability vs. loss probability	1.33	—	—
Calmar ratio: Return relative to maximum drawdown	2.31	—	—
Martin ratio: Return relative to average drawdown	10.54	—	—

Drawdowns

NOCT vs. APRB - Drawdown Comparison

The maximum NOCT drawdown since its inception was -16.21%, which is greater than APRB's maximum drawdown of -4.59%. Use the drawdown chart below to compare losses from any high point for NOCT and APRB.

Drawdown Indicators

	NOCT	APRB	Difference
Max Drawdown Largest peak-to-trough decline	-16.21%	-4.59%	-11.62%
Max Drawdown (1Y) Largest decline over 1 year	-5.84%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-12.70%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-16.21%	—	—
Current Drawdown Current decline from peak	-0.23%	-0.26%	+0.03%
Average Drawdown Average peak-to-trough decline	-2.31%	-0.66%	-1.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.28%	—	—

Volatility

Volatility by Period

	NOCT	APRB	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.01%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.24%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	7.82%	5.75%	+2.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.00%	5.75%	+5.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.15%	5.75%	+5.40%

NOCT vs. APRB - Expense Ratio Comparison

NOCT has a 0.79% expense ratio, which is higher than APRB's 0.25% expense ratio.

Dividends

NOCT vs. APRB - Dividend Comparison

Neither NOCT nor APRB has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
APRB Aptus April Buffer ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NOCT Innovator Growth-100 Power Buffer ETF - October	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.07%

Frequently Asked Questions

Can I hold both NOCT and APRB in my portfolio?

NOCT and APRB have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NOCT or APRB?

On fees, APRB 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, NOCT or APRB?

APRB is cheaper with a 0.25% expense ratio, compared with 0.79% for NOCT.

Which ETF pays a higher dividend yield, NOCT or APRB?

NOCT and APRB have nearly identical dividend yields, around 0.00%.

What is the main difference between NOCT and APRB?

They also come from different issuers: Innovator and Aptus Capital Advisors. Their fees differ too: 0.79% for NOCT and 0.25% for APRB.