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PJUL vs. NAPR
Performance
Return for Risk
Dividends
Drawdowns
Volatility

PJUL vs. NAPR

Last updated Apr 1, 2026

Compare and contrast key facts about Innovator U.S. Equity Power Buffer ETF - July (PJUL) and Innovator Nasdaq-100 Power Buffer ETF - April (NAPR).

PJUL and NAPR are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PJUL is a passively managed fund by Innovator that tracks the performance of the Cboe S&P 500 Buffer Protect Index July. It was launched on Aug 7, 2018. NAPR is a passively managed fund by Innovator that tracks the performance of the NASDAQ-100 Index. It was launched on Mar 31, 2020. Both PJUL and NAPR are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

PJUL vs. NAPR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Power Buffer ETF - July (PJUL) and Innovator Nasdaq-100 Power Buffer ETF - April (NAPR). The values are adjusted to include any dividend payments, if applicable.

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PJUL vs. NAPR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
PJUL
Innovator U.S. Equity Power Buffer ETF - July		-1.00%12.78%13.76%19.87%-2.08%7.20%22.81%
NAPR
Innovator Nasdaq-100 Power Buffer ETF - April		1.71%6.56%13.29%30.60%-12.13%9.09%15.90%

Returns By Period

In the year-to-date period, PJUL achieves a -1.00% return, which is significantly lower than NAPR's 1.71% return.

PJUL

1D
1.63%
1M
-1.76%
YTD
-1.00%
6M
0.81%
1Y
14.38%
3Y*
13.26%
5Y*
9.37%
10Y*
—

NAPR

1D
0.13%
1M
0.66%
YTD
1.71%
6M
3.74%
1Y
14.51%
3Y*
11.94%
5Y*
8.69%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Innovator U.S. Equity Power Buffer ETF - July

Innovator Nasdaq-100 Power Buffer ETF - April

Often compared with PJUL:
PJUL vs. PJANPJUL vs. SPYPJUL vs. VOOPJUL vs. JEPIPJUL vs. DGRWPJUL vs. JQUAPJUL vs. XYLG
Often compared with NAPR:
NAPR vs. JEPQNAPR vs. SPYNAPR vs. VOONAPR vs. QQQNAPR vs. AIOONAPR vs. ZFEBNAPR vs. KAPR

PJUL vs. NAPR - Expense Ratio Comparison

Both PJUL and NAPR have an expense ratio of 0.79%.

PJUL
Innovator U.S. Equity Power Buffer ETF - July
NAPR
Innovator Nasdaq-100 Power Buffer ETF - April

Return for Risk

PJUL vs. NAPR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PJUL
PJUL Risk / Return Rank: 8484
Overall Rank
PJUL Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
PJUL Sortino Ratio Rank: 8383
Sortino Ratio Rank
PJUL Omega Ratio Rank: 8888
Omega Ratio Rank
PJUL Calmar Ratio Rank: 7979
Calmar Ratio Rank
PJUL Martin Ratio Rank: 9191
Martin Ratio Rank
NAPR
NAPR Risk / Return Rank: 8686
Overall Rank
NAPR Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
NAPR Sortino Ratio Rank: 8787
Sortino Ratio Rank
NAPR Omega Ratio Rank: 9696
Omega Ratio Rank
NAPR Calmar Ratio Rank: 7474
Calmar Ratio Rank
NAPR Martin Ratio Rank: 9494
Martin Ratio Rank
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.

PJUL vs. NAPR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Power Buffer ETF - July (PJUL) and Innovator Nasdaq-100 Power Buffer ETF - April (NAPR). 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.

PJULNAPRDifference

Sharpe ratio

Return per unit of total volatility

1.43

1.51

-0.08

Sortino ratio

Return per unit of downside risk

2.17

2.43

-0.26

Omega ratio

Gain probability vs. loss probability

1.36

1.52

-0.16

Calmar ratio

Return relative to maximum drawdown

2.10

1.93

+0.17

Martin ratio

Return relative to average drawdown

11.87

14.15

-2.28

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PJUL vs. NAPR - Sharpe Ratio Comparison

The current PJUL Sharpe Ratio is 1.43, which is comparable to the NAPR Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of PJUL and NAPR, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

PJULNAPRDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.43

1.51

-0.08

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.10

0.77

+0.32

Sharpe Ratio (All Time)

Calculated using the full available price history

0.83

0.95

-0.12

Correlation

The correlation between PJUL and NAPR is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

PJUL vs. NAPR - Dividend Comparison

Neither PJUL nor NAPR has paid dividends to shareholders.

TTM2025202420232022202120202019
PJUL
Innovator U.S. Equity Power Buffer ETF - July		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.82%
NAPR
Innovator Nasdaq-100 Power Buffer ETF - April		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Drawdowns

PJUL vs. NAPR - Drawdown Comparison

The maximum PJUL drawdown since its inception was -18.17%, which is greater than NAPR's maximum drawdown of -16.53%. Use the drawdown chart below to compare losses from any high point for PJUL and NAPR.

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Drawdown Indicators

PJULNAPRDifference

Max Drawdown

Largest peak-to-trough decline

-18.17%

-16.53%

-1.64%

Max Drawdown (1Y)

Largest decline over 1 year

-6.99%

-7.53%

+0.54%

Max Drawdown (5Y)

Largest decline over 5 years

-10.69%

-16.53%

+5.84%

Current Drawdown

Current decline from peak

-2.07%

0.00%

-2.07%

Average Drawdown

Average peak-to-trough decline

-1.50%

-2.34%

+0.84%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.24%

1.03%

+0.21%

Volatility

PJUL vs. NAPR - Volatility Comparison

Innovator U.S. Equity Power Buffer ETF - July (PJUL) has a higher volatility of 2.90% compared to Innovator Nasdaq-100 Power Buffer ETF - April (NAPR) at 0.65%. This indicates that PJUL's price experiences larger fluctuations and is considered to be riskier than NAPR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PJULNAPRDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.90%

0.65%

+2.25%

Volatility (6M)

Calculated over the trailing 6-month period

4.16%

2.23%

+1.93%

Volatility (1Y)

Calculated over the trailing 1-year period

10.09%

9.65%

+0.44%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

8.58%

11.30%

-2.72%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

10.12%

10.71%

-0.59%