NOCT vs. QB

Last updated Jul 22, 2026

NOCT (Innovator Growth-100 Power Buffer ETF - October) and QB (ProShares Nasdaq-100 Dynamic Daily Buffer ETF) are both Defined Outcome funds. NOCT is actively managed, while QB is passively managed. Over the past year, NOCT returned 13.41% vs 19.14% for QB. A 0.77 correlation means they provide meaningful diversification when combined. NOCT charges 0.79%/yr vs 0.58%/yr for QB.

Performance

NOCT vs. QB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Growth-100 Power Buffer ETF - October (NOCT) and ProShares Nasdaq-100 Dynamic Daily Buffer ETF (QB). 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 lower than QB's 13.19% 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%

QB

• 1D: 0.82%
• 1M: 1.75%
• 6M: 12.90%
• YTD: 13.19%
• 1Y: 19.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.70%

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

NOCT vs. QB - Yearly Performance Comparison

	2026 (YTD)	2025
NOCT Innovator Growth-100 Power Buffer ETF - October	7.95%	7.26%
QB ProShares Nasdaq-100 Dynamic Daily Buffer ETF	13.19%	6.10%

Correlation

The correlation between NOCT and QB is 0.77, 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	0.77
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.77

The correlation between NOCT and QB has been stable across timeframes, ranging from 0.77 to 0.77 - a consistent structural relationship.

Return for Risk

NOCT vs. QB — 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

QB

QB Risk / Return Rank: 95
QB Sharpe Ratio Rank: 94
QB Sortino Ratio Rank: 95
QB Omega Ratio Rank: 96
QB Calmar Ratio Rank: 95
QB Martin Ratio Rank: 96

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. QB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Growth-100 Power Buffer ETF - October (NOCT) and ProShares Nasdaq-100 Dynamic Daily Buffer ETF (QB). 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	QB	Difference
Sharpe ratio: Return per unit of total volatility	1.72	2.72	-1.00
Sortino ratio: Return per unit of downside risk	2.44	3.97	-1.53
Omega ratio: Gain probability vs. loss probability	1.33	1.65	-0.32
Calmar ratio: Return relative to maximum drawdown	2.31	5.53	-3.22
Martin ratio: Return relative to average drawdown	10.54	26.72	-16.18

NOCT vs. QB - Sharpe Ratio Comparison

The current NOCT Sharpe Ratio is 1.72, which is lower than the QB Sharpe Ratio of 2.72. The chart below compares the historical Sharpe Ratios of NOCT and QB, 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

NOCT vs. QB - Drawdown Comparison

The maximum NOCT drawdown since its inception was -16.21%, which is greater than QB's maximum drawdown of -3.47%. Use the drawdown chart below to compare losses from any high point for NOCT and QB.

Drawdown Indicators

	NOCT	QB	Difference
Max Drawdown Largest peak-to-trough decline	-16.21%	-3.47%	-12.74%
Max Drawdown (1Y) Largest decline over 1 year	-5.84%	-3.47%	-2.37%
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%	0.00%	-0.23%
Average Drawdown Average peak-to-trough decline	-2.31%	-0.42%	-1.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.28%	0.72%	+0.56%

Volatility

NOCT vs. QB - Volatility Comparison

The current volatility for Innovator Growth-100 Power Buffer ETF - October (NOCT) is 2.01%, while ProShares Nasdaq-100 Dynamic Daily Buffer ETF (QB) has a volatility of 2.53%. This indicates that NOCT experiences smaller price fluctuations and is considered to be less risky than QB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NOCT	QB	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.01%	2.53%	-0.52%
Volatility (6M) Calculated over the trailing 6-month period	6.24%	5.87%	+0.37%
Volatility (1Y) Calculated over the trailing 1-year period	7.82%	7.07%	+0.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.00%	6.91%	+4.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.15%	6.91%	+4.24%

NOCT vs. QB - Expense Ratio Comparison

NOCT has a 0.79% expense ratio, which is higher than QB's 0.58% expense ratio.

Dividends

NOCT vs. QB - Dividend Comparison

NOCT has not paid dividends to shareholders, while QB's dividend yield for the trailing twelve months is around 0.77%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
NOCT Innovator Growth-100 Power Buffer ETF - October	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.07%
QB ProShares Nasdaq-100 Dynamic Daily Buffer ETF	0.77%	0.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NOCT and QB in my portfolio?

NOCT and QB have a correlation of 0.77, 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 QB?

QB has higher volatility (2.53%) compared to NOCT (2.01%). In terms of maximum drawdown, NOCT dropped -16.21% vs QB's -3.47%.

Which ETF is better, NOCT or QB?

On 1-year performance, QB leads with 19.14% vs 13.41% for NOCT. On fees, QB is cheaper at 0.58% per year. On volatility, NOCT has been the lower-risk option at 2.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NOCT or QB?

Over the 1-year period, QB has performed better with a 19.14% return vs 13.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NOCT or QB?

QB is cheaper with a 0.58% expense ratio, compared with 0.79% for NOCT.

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

QB has the higher dividend yield at 0.77%, compared with 0.00% for NOCT.

What is the main difference between NOCT and QB?

They also come from different issuers: Innovator and ProShares. Their fees differ too: 0.79% for NOCT and 0.58% for QB.

Which has better risk-adjusted returns?

QB currently has the higher Sharpe Ratio (2.72 vs 1.72), 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.