NOCT vs. IETC
NOCT (Innovator Growth-100 Power Buffer ETF - October) and IETC (iShares U.S. Tech Independence Focused ETF) are both exchange-traded funds - NOCT is a Defined Outcome fund actively managed by Innovator, while IETC is a Technology Equities fund actively managed by iShares. Both are actively managed. Over the past 5 years, NOCT returned 10.00%/yr vs 14.77%/yr for IETC. Their correlation of 0.86 suggests significant overlap in exposure. NOCT charges 0.79%/yr vs 0.18%/yr for IETC.
Performance
NOCT vs. IETC - Performance Comparison
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Returns By Period
In the year-to-date period, NOCT achieves a 6.77% return, which is significantly higher than IETC's 3.27% return.
NOCT
- 1D
- -0.83%
- 1M
- -0.13%
- YTD
- 6.77%
- 6M
- 6.34%
- 1Y
- 15.56%
- 3Y*
- 14.27%
- 5Y*
- 10.00%
- 10Y*
- —
IETC
- 1D
- -3.43%
- 1M
- -3.33%
- YTD
- 3.27%
- 6M
- 1.39%
- 1Y
- 16.71%
- 3Y*
- 25.64%
- 5Y*
- 14.77%
- 10Y*
- —
NOCT vs. IETC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
NOCT Innovator Growth-100 Power Buffer ETF - October | 6.77% | 12.81% | 12.10% | 30.67% | -13.42% | 12.10% | 11.64% | 4.54% |
IETC iShares U.S. Tech Independence Focused ETF | 3.27% | 19.56% | 37.57% | 54.35% | -32.78% | 29.73% | 46.59% | 11.97% |
Correlation
The correlation between NOCT and IETC is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2019 | 0.86 |
The correlation between NOCT and IETC has been stable across timeframes, ranging from 0.83 to 0.89 - a consistent structural relationship.
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Return for Risk
NOCT vs. IETC — Risk / Return Rank
NOCT
IETC
NOCT vs. IETC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Growth-100 Power Buffer ETF - October (NOCT) and iShares U.S. Tech Independence Focused ETF (IETC). 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 | IETC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.29 | ||
| Sortino ratioReturn per unit of downside risk | +1.73 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.14 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 2.68 | 0.79 | +1.88 |
| Martin ratioReturn relative to average drawdown | 12.33 | 2.15 | +10.18 |
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Drawdowns
NOCT vs. IETC - Drawdown Comparison
The maximum NOCT drawdown since its inception was -16.21%, smaller than the maximum IETC drawdown of -38.48%. Use the drawdown chart below to compare losses from any high point for NOCT and IETC.
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Drawdown Indicators
| NOCT | IETC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.21% | -38.48% | +22.27% |
Max Drawdown (1Y)Largest decline over 1 year | -5.84% | -21.19% | +15.35% |
Max Drawdown (3Y)Largest decline over 3 years | -12.70% | -25.17% | +12.47% |
Max Drawdown (5Y)Largest decline over 5 years | -16.21% | -38.48% | +22.27% |
Current DrawdownCurrent decline from peak | -1.08% | -11.36% | +10.28% |
Average DrawdownAverage peak-to-trough decline | -2.33% | -8.14% | +5.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.26% | 7.79% | -6.53% |
Volatility
NOCT vs. IETC - Volatility Comparison
The current volatility for Innovator Growth-100 Power Buffer ETF - October (NOCT) is 2.36%, while iShares U.S. Tech Independence Focused ETF (IETC) has a volatility of 11.06%. This indicates that NOCT experiences smaller price fluctuations and is considered to be less risky than IETC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NOCT | IETC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.36% | 11.06% | -8.70% |
Volatility (6M)Calculated over the trailing 6-month period | 6.13% | 18.31% | -12.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.74% | 22.86% | -15.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.98% | 24.86% | -13.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.19% | 25.50% | -14.31% |
NOCT vs. IETC - Expense Ratio Comparison
NOCT has a 0.79% expense ratio, which is higher than IETC's 0.18% expense ratio.
Dividends
NOCT vs. IETC - Dividend Comparison
NOCT has not paid dividends to shareholders, while IETC's dividend yield for the trailing twelve months is around 0.40%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
IETC iShares U.S. Tech Independence Focused ETF | 0.40% | 0.38% | 0.52% | 0.79% | 0.92% | 0.73% | 0.48% | 0.95% | 1.27% |
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% |
Frequently Asked Questions
NOCT and IETC have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IETC has higher volatility (11.06%) compared to NOCT (2.36%). In terms of maximum drawdown, NOCT dropped -16.21% vs IETC's -38.48%.
On 5-year performance, IETC leads with 14.77% vs 10.00% for NOCT. On fees, IETC is cheaper at 0.18% per year. On volatility, NOCT has been the lower-risk option at 2.36%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IETC has performed better with a 14.77% return vs 10.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IETC is cheaper with a 0.18% expense ratio, compared with 0.79% for NOCT.
IETC has the higher dividend yield at 0.40%, compared with 0.00% for NOCT.
NOCT is categorized as Defined Outcome, while IETC is Technology Equities. They also come from different issuers: Innovator and iShares. Their fees differ too: 0.79% for NOCT and 0.18% for IETC.
NOCT currently has the higher Sharpe Ratio (2.02 vs 0.73), 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.
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