NVBU vs. EAPR

Last updated Jun 4, 2026

NVBU (AllianzIM U.S. Equity Buffer15 Uncapped Nov ETF) and EAPR (Innovator Emerging Markets Power Buffer ETF - April) are both Defined Outcome funds. NVBU is actively managed, while EAPR is passively managed. Over the past year, NVBU returned 20.67% vs 22.07% for EAPR. A 0.54 correlation means they provide meaningful diversification when combined. NVBU charges 0.74%/yr vs 0.89%/yr for EAPR.

Performance

NVBU vs. EAPR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Equity Buffer15 Uncapped Nov ETF (NVBU) and Innovator Emerging Markets Power Buffer ETF - April (EAPR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NVBU achieves a 7.60% return, which is significantly lower than EAPR's 11.39% return.

NVBU

• 1D: -0.55%
• 1M: 4.02%
• YTD: 7.60%
• 6M: 6.96%
• 1Y: 20.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EAPR

• 1D: -0.45%
• 1M: 2.01%
• YTD: 11.39%
• 6M: 12.25%
• 1Y: 22.07%
• 3Y*: 10.62%
• 5Y*: 5.15%
• 10Y*: —

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

NVBU vs. EAPR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NVBU AllianzIM U.S. Equity Buffer15 Uncapped Nov ETF	7.60%	13.27%	1.73%
EAPR Innovator Emerging Markets Power Buffer ETF - April	11.39%	14.80%	-2.98%

Correlation

The correlation between NVBU and EAPR is 0.58, 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	0.58
Correlation (All Time) Calculated using the full available price history since Nov 4, 2024	0.54

The correlation between NVBU and EAPR has been stable across timeframes, ranging from 0.54 to 0.58 - a consistent structural relationship.

Return for Risk

NVBU vs. EAPR — Risk / Return Rank

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

NVBU

NVBU Risk / Return Rank: 74
NVBU Sharpe Ratio Rank: 71
NVBU Sortino Ratio Rank: 72
NVBU Omega Ratio Rank: 71
NVBU Calmar Ratio Rank: 77
NVBU Martin Ratio Rank: 80

EAPR

EAPR Risk / Return Rank: 94
EAPR Sharpe Ratio Rank: 89
EAPR Sortino Ratio Rank: 95
EAPR Omega Ratio Rank: 96
EAPR Calmar Ratio Rank: 94
EAPR Martin Ratio Rank: 97

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.

NVBU vs. EAPR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Equity Buffer15 Uncapped Nov ETF (NVBU) and Innovator Emerging Markets Power Buffer ETF - April (EAPR). 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.

	NVBU	EAPR	Difference
Sharpe ratio: Return per unit of total volatility	2.29	3.06	-0.77
Sortino ratio: Return per unit of downside risk	3.22	5.25	-2.03
Omega ratio: Gain probability vs. loss probability	1.42	1.84	-0.43
Calmar ratio: Return relative to maximum drawdown	3.86	7.33	-3.47
Martin ratio: Return relative to average drawdown	15.42	42.15	-26.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NVBU vs. EAPR - Sharpe Ratio Comparison

The current NVBU Sharpe Ratio is 2.29, which is comparable to the EAPR Sharpe Ratio of 3.06. The chart below compares the historical Sharpe Ratios of NVBU and EAPR, 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

	NVBU	EAPR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.29	3.06	-0.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.51	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.33	0.54	+0.79

Drawdowns

NVBU vs. EAPR - Drawdown Comparison

The maximum NVBU drawdown since its inception was -11.97%, smaller than the maximum EAPR drawdown of -17.65%. Use the drawdown chart below to compare losses from any high point for NVBU and EAPR.

Drawdown Indicators

	NVBU	EAPR	Difference
Max Drawdown Largest peak-to-trough decline	-11.97%	-17.65%	+5.68%
Max Drawdown (1Y) Largest decline over 1 year	-5.38%	-3.02%	-2.36%
Max Drawdown (3Y) Largest decline over 3 years	—	-10.24%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.65%	—
Current Drawdown Current decline from peak	-0.55%	-0.45%	-0.10%
Average Drawdown Average peak-to-trough decline	-1.78%	-4.06%	+2.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.34%	0.52%	+0.82%

Volatility

NVBU vs. EAPR - Volatility Comparison

The current volatility for AllianzIM U.S. Equity Buffer15 Uncapped Nov ETF (NVBU) is 2.48%, while Innovator Emerging Markets Power Buffer ETF - April (EAPR) has a volatility of 3.79%. This indicates that NVBU experiences smaller price fluctuations and is considered to be less risky than EAPR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVBU	EAPR	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.48%	3.79%	-1.31%
Volatility (6M) Calculated over the trailing 6-month period	6.13%	6.28%	-0.15%
Volatility (1Y) Calculated over the trailing 1-year period	9.08%	7.24%	+1.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.05%	10.09%	+0.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.05%	10.02%	+1.03%

NVBU vs. EAPR - Expense Ratio Comparison

NVBU has a 0.74% expense ratio, which is lower than EAPR's 0.89% expense ratio.

Dividends

NVBU vs. EAPR - Dividend Comparison

Neither NVBU nor EAPR has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both NVBU and EAPR in my portfolio?

NVBU and EAPR have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NVBU or EAPR?

EAPR has higher volatility (3.79%) compared to NVBU (2.48%). In terms of maximum drawdown, NVBU dropped -11.97% vs EAPR's -17.65%.

Which ETF is better, NVBU or EAPR?

On 1-year performance, EAPR leads with 22.07% vs 20.67% for NVBU. On fees, NVBU is cheaper at 0.74% per year. On volatility, NVBU has been the lower-risk option at 2.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NVBU or EAPR?

Over the 1-year period, EAPR has performed better with a 22.07% return vs 20.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVBU or EAPR?

NVBU is cheaper with a 0.74% expense ratio, compared with 0.89% for EAPR.

Which ETF pays a higher dividend yield, NVBU or EAPR?

NVBU and EAPR have nearly identical dividend yields, around 0.00%.

What is the main difference between NVBU and EAPR?

They also come from different issuers: AllianzIM and Innovator. Their fees differ too: 0.74% for NVBU and 0.89% for EAPR.

Which has better risk-adjusted returns?

EAPR currently has the higher Sharpe Ratio (3.06 vs 2.29), 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.