NOCT vs. DGRW

Last updated Jun 4, 2026

NOCT (Innovator Growth-100 Power Buffer ETF - October) and DGRW (WisdomTree U.S. Dividend Growth Fund) are both exchange-traded funds - NOCT is a Defined Outcome fund actively managed by Innovator, while DGRW is a Large Cap Growth Equities fund tracking the WisdomTree U.S. Dividend Growth Index. NOCT is actively managed, while DGRW is passively managed. Over the past 5 years, NOCT returned 10.46%/yr vs 12.17%/yr for DGRW. A 0.73 correlation means they provide meaningful diversification when combined. NOCT charges 0.79%/yr vs 0.28%/yr for DGRW.

Performance

NOCT vs. DGRW - Performance Comparison

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

Returns By Period

In the year-to-date period, NOCT achieves a 7.61% return, which is significantly lower than DGRW's 9.10% return.

NOCT

• 1D: -0.12%
• 1M: 2.54%
• YTD: 7.61%
• 6M: 7.69%
• 1Y: 17.36%
• 3Y*: 14.98%
• 5Y*: 10.46%
• 10Y*: —

DGRW

• 1D: -0.83%
• 1M: 4.06%
• YTD: 9.10%
• 6M: 8.62%
• 1Y: 20.79%
• 3Y*: 16.64%
• 5Y*: 12.17%
• 10Y*: 14.15%

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

NOCT vs. DGRW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
NOCT Innovator Growth-100 Power Buffer ETF - October	7.61%	12.81%	12.10%	30.67%	-13.42%	12.10%	11.64%	5.54%
DGRW WisdomTree U.S. Dividend Growth Fund	9.10%	12.17%	16.98%	18.66%	-6.33%	24.46%	13.87%	9.74%

Correlation

The correlation between NOCT and DGRW is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (All Time) Calculated using the full available price history since Oct 2, 2019	0.73

The correlation between NOCT and DGRW has been stable across timeframes, ranging from 0.73 to 0.76 - a consistent structural relationship.

NOCT vs. DGRW - Sectors Allocation Comparison

Sectors	NOCT	DGRW
Technology	54.2%	32.1%
Communication Services	15.5%	10.1%
Consumer Cyclical	12.2%	7.1%
Consumer Defensive	7.6%	6.7%
Healthcare	4.2%	12.8%
Industrials	2.8%	9.9%
Utilities	1.4%	0.2%
Basic Materials	1.2%	3.3%
Energy	0.6%	5.0%
Financial Services	0.2%	11.3%
Real Estate	0.1%	-

Return for Risk

NOCT vs. DGRW — Risk / Return Rank

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

NOCT

NOCT Risk / Return Rank: 71
NOCT Sharpe Ratio Rank: 71
NOCT Sortino Ratio Rank: 72
NOCT Omega Ratio Rank: 78
NOCT Calmar Ratio Rank: 60
NOCT Martin Ratio Rank: 74

DGRW

DGRW Risk / Return Rank: 60
DGRW Sharpe Ratio Rank: 61
DGRW Sortino Ratio Rank: 65
DGRW Omega Ratio Rank: 63
DGRW Calmar Ratio Rank: 50
DGRW Martin Ratio Rank: 61

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. DGRW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Growth-100 Power Buffer ETF - October (NOCT) and WisdomTree U.S. Dividend Growth Fund (DGRW). 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.

	NOCT	DGRW	Difference
Sharpe ratio Return per unit of total volatility	2.31	2.12	+0.20
Sortino ratio Return per unit of downside risk	3.26	3.09	+0.17
Omega ratio Gain probability vs. loss probability	1.46	1.39	+0.07
Calmar ratio Return relative to maximum drawdown	2.99	2.52	+0.47
Martin ratio Return relative to average drawdown	13.90	11.03	+2.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NOCT vs. DGRW - Sharpe Ratio Comparison

The current NOCT Sharpe Ratio is 2.31, which is comparable to the DGRW Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of NOCT and DGRW, 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

	NOCT	DGRW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.31	2.12	+0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.96	0.88	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.88	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.01	0.86	+0.15

Drawdowns

NOCT vs. DGRW - Drawdown Comparison

The maximum NOCT drawdown since its inception was -16.21%, smaller than the maximum DGRW drawdown of -32.04%. Use the drawdown chart below to compare losses from any high point for NOCT and DGRW.

Drawdown Indicators

	NOCT	DGRW	Difference
Max Drawdown Largest peak-to-trough decline	-16.21%	-32.04%	+15.83%
Max Drawdown (1Y) Largest decline over 1 year	-5.84%	-8.30%	+2.46%
Max Drawdown (3Y) Largest decline over 3 years	-12.70%	-16.21%	+3.51%
Max Drawdown (5Y) Largest decline over 5 years	-16.21%	-17.27%	+1.06%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.04%	—
Current Drawdown Current decline from peak	-0.16%	-0.83%	+0.67%
Average Drawdown Average peak-to-trough decline	-2.34%	-3.01%	+0.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.25%	1.89%	-0.64%

Volatility

NOCT vs. DGRW - Volatility Comparison

The current volatility for Innovator Growth-100 Power Buffer ETF - October (NOCT) is 1.01%, while WisdomTree U.S. Dividend Growth Fund (DGRW) has a volatility of 2.47%. This indicates that NOCT experiences smaller price fluctuations and is considered to be less risky than DGRW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NOCT	DGRW	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.01%	2.47%	-1.46%
Volatility (6M) Calculated over the trailing 6-month period	5.90%	7.64%	-1.74%
Volatility (1Y) Calculated over the trailing 1-year period	7.55%	9.88%	-2.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.93%	13.97%	-3.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.19%	16.21%	-5.02%

NOCT vs. DGRW - Expense Ratio Comparison

NOCT has a 0.79% expense ratio, which is higher than DGRW's 0.28% expense ratio.

Dividends

NOCT vs. DGRW - Dividend Comparison

NOCT has not paid dividends to shareholders, while DGRW's dividend yield for the trailing twelve months is around 1.27%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGRW WisdomTree U.S. Dividend Growth Fund	1.27%	1.43%	1.55%	1.74%	2.15%	1.78%	1.93%	2.20%	2.42%	1.71%	2.13%	2.18%
NOCT Innovator Growth-100 Power Buffer ETF - October	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.07%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NOCT and DGRW in my portfolio?

NOCT and DGRW have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NOCT or DGRW?

DGRW has higher volatility (2.47%) compared to NOCT (1.01%). In terms of maximum drawdown, NOCT dropped -16.21% vs DGRW's -32.04%.

Which ETF is better, NOCT or DGRW?

On 5-year performance, DGRW leads with 12.17% vs 10.46% for NOCT. On fees, DGRW is cheaper at 0.28% per year. On volatility, NOCT has been the lower-risk option at 1.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NOCT or DGRW?

Over the 5-year period, DGRW has performed better with a 12.17% return vs 10.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NOCT or DGRW?

DGRW is cheaper with a 0.28% expense ratio, compared with 0.79% for NOCT.

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

DGRW has the higher dividend yield at 1.27%, compared with 0.00% for NOCT.

What is the main difference between NOCT and DGRW?

NOCT is categorized as Defined Outcome, while DGRW is Large Cap Growth Equities. They also come from different issuers: Innovator and WisdomTree. Their fees differ too: 0.79% for NOCT and 0.28% for DGRW.

Which has better risk-adjusted returns?

NOCT currently has the higher Sharpe Ratio (2.31 vs 2.12), 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.