PJUL vs. XDQQ

Last updated Jun 4, 2026

PJUL (Innovator U.S. Equity Power Buffer ETF - July) and XDQQ (Innovator Growth Accelerated ETF - Quarterly) are both exchange-traded funds - PJUL is a Defined Outcome fund tracking the Cboe S&P 500 Buffer Protect Index July, while XDQQ is a Leveraged Equities fund actively managed by Innovator. PJUL is passively managed, while XDQQ is actively managed. Over the past 5 years, PJUL returned 10.49%/yr vs 8.32%/yr for XDQQ. Their correlation of 0.84 suggests significant overlap in exposure. Both charge a 0.79% expense ratio.

Performance

PJUL vs. XDQQ - 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 Growth Accelerated ETF - Quarterly (XDQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PJUL achieves a 4.74% return, which is significantly higher than XDQQ's 2.58% return.

PJUL

• 1D: 0.10%
• 1M: 1.44%
• YTD: 4.74%
• 6M: 5.40%
• 1Y: 15.32%
• 3Y*: 13.95%
• 5Y*: 10.49%
• 10Y*: —

XDQQ

• 1D: -0.05%
• 1M: 1.36%
• YTD: 2.58%
• 6M: 2.48%
• 1Y: 17.06%
• 3Y*: 17.94%
• 5Y*: 8.32%
• 10Y*: —

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

PJUL vs. XDQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PJUL Innovator U.S. Equity Power Buffer ETF - July	4.74%	12.78%	13.76%	19.87%	-2.08%	4.97%
XDQQ Innovator Growth Accelerated ETF - Quarterly	2.58%	13.75%	31.47%	30.15%	-33.74%	18.29%

Correlation

The correlation between PJUL and XDQQ is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Apr 5, 2021	0.84

The correlation between PJUL and XDQQ has been stable across timeframes, ranging from 0.80 to 0.85 - a consistent structural relationship.

PJUL vs. XDQQ - Sectors Allocation Comparison

Sectors	PJUL	XDQQ
Technology	36.2%	50.7%
Financial Services	11.9%	0.2%
Communication Services	10.9%	15.8%
Consumer Cyclical	10.1%	12.5%
Healthcare	8.4%	5.1%
Industrials	8.1%	3.3%
Consumer Defensive	4.9%	8.7%
Energy	3.5%	0.7%
Utilities	2.3%	1.6%
Real Estate	1.9%	0.1%
Basic Materials	1.8%	1.3%

Return for Risk

PJUL vs. XDQQ — Risk / Return Rank

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

PJUL

PJUL Risk / Return Rank: 87
PJUL Sharpe Ratio Rank: 83
PJUL Sortino Ratio Rank: 89
PJUL Omega Ratio Rank: 90
PJUL Calmar Ratio Rank: 81
PJUL Martin Ratio Rank: 92

XDQQ

XDQQ Risk / Return Rank: 35
XDQQ Sharpe Ratio Rank: 34
XDQQ Sortino Ratio Rank: 31
XDQQ Omega Ratio Rank: 39
XDQQ Calmar Ratio Rank: 30
XDQQ Martin Ratio Rank: 41

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. XDQQ - 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 Growth Accelerated ETF - Quarterly (XDQQ). 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.

	PJUL	XDQQ	Difference
Sharpe ratio Return per unit of total volatility	2.73	1.24	+1.49
Sortino ratio Return per unit of downside risk	4.12	1.70	+2.42
Omega ratio Gain probability vs. loss probability	1.59	1.26	+0.33
Calmar ratio Return relative to maximum drawdown	4.22	1.45	+2.78
Martin ratio Return relative to average drawdown	23.24	6.57	+16.66
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. XDQQ - Sharpe Ratio Comparison

The current PJUL Sharpe Ratio is 2.73, which is higher than the XDQQ Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of PJUL and XDQQ, 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

	PJUL	XDQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.73	1.24	+1.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.23	0.42	+0.80
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	0.46	+0.43

Drawdowns

PJUL vs. XDQQ - Drawdown Comparison

The maximum PJUL drawdown since its inception was -18.17%, smaller than the maximum XDQQ drawdown of -35.63%. Use the drawdown chart below to compare losses from any high point for PJUL and XDQQ.

Drawdown Indicators

	PJUL	XDQQ	Difference
Max Drawdown Largest peak-to-trough decline	-18.17%	-35.63%	+17.46%
Max Drawdown (1Y) Largest decline over 1 year	-3.64%	-11.84%	+8.20%
Max Drawdown (3Y) Largest decline over 3 years	-10.69%	-23.17%	+12.48%
Max Drawdown (5Y) Largest decline over 5 years	-10.69%	-35.63%	+24.94%
Current Drawdown Current decline from peak	0.00%	-0.05%	+0.05%
Average Drawdown Average peak-to-trough decline	-1.47%	-10.84%	+9.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.66%	2.60%	-1.94%

Volatility

PJUL vs. XDQQ - Volatility Comparison

Innovator U.S. Equity Power Buffer ETF - July (PJUL) and Innovator Growth Accelerated ETF - Quarterly (XDQQ) have volatilities of 0.42% and 0.40%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PJUL	XDQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.42%	0.40%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	3.89%	11.13%	-7.24%
Volatility (1Y) Calculated over the trailing 1-year period	5.66%	13.81%	-8.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.60%	19.81%	-11.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.03%	19.66%	-9.63%

PJUL vs. XDQQ - Expense Ratio Comparison

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

Dividends

PJUL vs. XDQQ - Dividend Comparison

Neither PJUL nor XDQQ has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
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%
XDQQ Innovator Growth Accelerated ETF - Quarterly	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PJUL and XDQQ in my portfolio?

PJUL and XDQQ have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PJUL or XDQQ?

PJUL has higher volatility (0.42%) compared to XDQQ (0.40%). In terms of maximum drawdown, PJUL dropped -18.17% vs XDQQ's -35.63%.

Which ETF is better, PJUL or XDQQ?

On 5-year performance, PJUL leads with 10.49% vs 8.32% for XDQQ. Both ETFs have the same 0.79% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PJUL or XDQQ?

Over the 5-year period, PJUL has performed better with a 10.49% return vs 8.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PJUL or XDQQ?

PJUL and XDQQ have the same expense ratio: 0.79% per year.

Which ETF pays a higher dividend yield, PJUL or XDQQ?

PJUL and XDQQ have nearly identical dividend yields, around 0.00%.

What is the main difference between PJUL and XDQQ?

PJUL is categorized as Defined Outcome, while XDQQ is Leveraged Equities.

Which has better risk-adjusted returns?

PJUL currently has the higher Sharpe Ratio (2.73 vs 1.24), 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.