QB vs. IAPR

Last updated Jun 24, 2026

QB (ProShares Nasdaq-100 Dynamic Daily Buffer ETF) and IAPR (Innovator International Developed Power Buffer ETF - April) are both Defined Outcome funds - QB tracks the Nasdaq-100 while IAPR tracks the MSCI EAFE. Both are passively managed. A 0.59 correlation means they provide meaningful diversification when combined. QB charges 0.58%/yr vs 0.85%/yr for IAPR.

Performance

QB vs. IAPR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Nasdaq-100 Dynamic Daily Buffer ETF (QB) and Innovator International Developed Power Buffer ETF - April (IAPR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QB achieves a 9.56% return, which is significantly higher than IAPR's 7.08% return.

QB

• 1D: -1.22%
• 1M: -0.18%
• YTD: 9.56%
• 6M: 9.37%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IAPR

• 1D: -1.06%
• 1M: 0.30%
• YTD: 7.08%
• 6M: 7.12%
• 1Y: 14.51%
• 3Y*: 10.41%
• 5Y*: 5.11%
• 10Y*: —

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

QB vs. IAPR - Yearly Performance Comparison

	2026 (YTD)	2025
QB ProShares Nasdaq-100 Dynamic Daily Buffer ETF	9.56%	6.10%
IAPR Innovator International Developed Power Buffer ETF - April	7.08%	6.57%

Correlation

The correlation between QB and IAPR is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.59

Return for Risk

QB vs. IAPR — Risk / Return Rank

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

QB

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

IAPR

IAPR Risk / Return Rank: 83
IAPR Sharpe Ratio Rank: 71
IAPR Sortino Ratio Rank: 79
IAPR Omega Ratio Rank: 78
IAPR Calmar Ratio Rank: 92
IAPR Martin Ratio Rank: 93

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.

QB vs. IAPR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Nasdaq-100 Dynamic Daily Buffer ETF (QB) and Innovator International Developed Power Buffer ETF - April (IAPR). 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.

	QB	IAPR	Difference
Sharpe ratio: Return per unit of total volatility	—	2.09	—
Sortino ratio: Return per unit of downside risk	—	3.21	—
Omega ratio: Gain probability vs. loss probability	—	1.42	—
Calmar ratio: Return relative to maximum drawdown	—	5.68	—
Martin ratio: Return relative to average drawdown	—	21.78	—

Drawdowns

QB vs. IAPR - Drawdown Comparison

The maximum QB drawdown since its inception was -3.47%, smaller than the maximum IAPR drawdown of -17.73%. Use the drawdown chart below to compare losses from any high point for QB and IAPR.

Drawdown Indicators

	QB	IAPR	Difference
Max Drawdown Largest peak-to-trough decline	-3.47%	-17.73%	+14.26%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.56%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-9.46%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.73%	—
Current Drawdown Current decline from peak	-1.51%	-1.06%	-0.45%
Average Drawdown Average peak-to-trough decline	-0.41%	-3.84%	+3.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.67%	—

Volatility

Volatility by Period

	QB	IAPR	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.69%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.86%	—
Volatility (1Y) Calculated over the trailing 1-year period	6.85%	6.99%	-0.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.85%	8.91%	-2.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.85%	8.79%	-1.94%

QB vs. IAPR - Expense Ratio Comparison

QB has a 0.58% expense ratio, which is lower than IAPR's 0.85% expense ratio.

Dividends

QB vs. IAPR - Dividend Comparison

QB's dividend yield for the trailing twelve months is around 0.63%, while IAPR has not paid dividends to shareholders.

Position	TTM	2025
IAPR Innovator International Developed Power Buffer ETF - April	0.00%	0.00%
QB ProShares Nasdaq-100 Dynamic Daily Buffer ETF	0.63%	0.48%

Frequently Asked Questions

Can I hold both QB and IAPR in my portfolio?

QB and IAPR have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QB or IAPR?

On fees, QB is cheaper at 0.58% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QB or IAPR?

QB is cheaper with a 0.58% expense ratio, compared with 0.85% for IAPR.

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

QB has the higher dividend yield at 0.63%, compared with 0.00% for IAPR.

What is the main difference between QB and IAPR?

QB tracks Nasdaq-100, while IAPR tracks MSCI EAFE. They also come from different issuers: ProShares and Innovator. Their fees differ too: 0.58% for QB and 0.85% for IAPR.