QBUF vs. QTR

Last updated Jun 4, 2026

QBUF (Innovator Nasdaq-100 10 Buffer ETF - Quarterly) and QTR (Global X NASDAQ 100 Tail Risk ETF) are both Nasdaq-100 funds - QBUF tracks the Invesco QQQ Trust while QTR tracks the NASDAQ-100 Quarterly Protective Put 90 Index. Both are passively managed. Over the past year, QBUF returned 11.93% vs 33.76% for QTR. Their correlation of 0.82 suggests significant overlap in exposure. QBUF charges 0.79%/yr vs 0.60%/yr for QTR.

Performance

QBUF vs. QTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Nasdaq-100 10 Buffer ETF - Quarterly (QBUF) and Global X NASDAQ 100 Tail Risk ETF (QTR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QBUF achieves a 4.68% return, which is significantly lower than QTR's 17.64% return.

QBUF

• 1D: -0.01%
• 1M: 0.84%
• YTD: 4.68%
• 6M: 4.57%
• 1Y: 11.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QTR

• 1D: -0.24%
• 1M: 10.52%
• YTD: 17.64%
• 6M: 15.72%
• 1Y: 33.76%
• 3Y*: 22.93%
• 5Y*: —
• 10Y*: —

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

QBUF vs. QTR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QBUF Innovator Nasdaq-100 10 Buffer ETF - Quarterly	4.68%	11.08%	5.92%
QTR Global X NASDAQ 100 Tail Risk ETF	17.64%	14.52%	4.62%

Correlation

The correlation between QBUF and QTR is 0.79, 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	0.79
Correlation (All Time) Calculated using the full available price history since Jul 2, 2024	0.82

The correlation between QBUF and QTR has been stable across timeframes, ranging from 0.79 to 0.82 - a consistent structural relationship.

QBUF vs. QTR - Sectors Allocation Comparison

Sectors	QBUF	QTR
Technology	50.7%	53.8%
Communication Services	15.8%	15.8%
Consumer Cyclical	12.5%	12.2%
Consumer Defensive	8.7%	7.7%
Healthcare	5.1%	4.2%
Industrials	3.3%	2.8%
Utilities	1.6%	1.4%
Basic Materials	1.3%	1.1%
Energy	0.7%	0.6%
Financial Services	0.2%	0.2%
Real Estate	0.1%	0.1%

Return for Risk

QBUF vs. QTR — Risk / Return Rank

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

QBUF

QBUF Risk / Return Rank: 79
QBUF Sharpe Ratio Rank: 70
QBUF Sortino Ratio Rank: 71
QBUF Omega Ratio Rank: 80
QBUF Calmar Ratio Rank: 88
QBUF Martin Ratio Rank: 85

QTR

QTR Risk / Return Rank: 64
QTR Sharpe Ratio Rank: 72
QTR Sortino Ratio Rank: 70
QTR Omega Ratio Rank: 68
QTR Calmar Ratio Rank: 55
QTR Martin Ratio Rank: 55

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.

QBUF vs. QTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Nasdaq-100 10 Buffer ETF - Quarterly (QBUF) and Global X NASDAQ 100 Tail Risk ETF (QTR). 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.

	QBUF	QTR	Difference
Sharpe ratio: Return per unit of total volatility	2.28	2.40	-0.12
Sortino ratio: Return per unit of downside risk	3.20	3.22	-0.02
Omega ratio: Gain probability vs. loss probability	1.48	1.41	+0.06
Calmar ratio: Return relative to maximum drawdown	5.19	2.76	+2.43
Martin ratio: Return relative to average drawdown	17.79	9.47	+8.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QBUF vs. QTR - Sharpe Ratio Comparison

The current QBUF Sharpe Ratio is 2.28, which is comparable to the QTR Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of QBUF and QTR, 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

	QBUF	QTR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.28	2.40	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	1.36	0.68	+0.68

Drawdowns

QBUF vs. QTR - Drawdown Comparison

The maximum QBUF drawdown since its inception was -8.84%, smaller than the maximum QTR drawdown of -31.72%. Use the drawdown chart below to compare losses from any high point for QBUF and QTR.

Drawdown Indicators

	QBUF	QTR	Difference
Max Drawdown Largest peak-to-trough decline	-8.84%	-31.72%	+22.88%
Max Drawdown (1Y) Largest decline over 1 year	-2.31%	-12.29%	+9.98%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.99%	—
Current Drawdown Current decline from peak	-0.01%	-0.24%	+0.23%
Average Drawdown Average peak-to-trough decline	-0.82%	-8.84%	+8.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.67%	3.57%	-2.90%

Volatility

QBUF vs. QTR - Volatility Comparison

The current volatility for Innovator Nasdaq-100 10 Buffer ETF - Quarterly (QBUF) is 0.23%, while Global X NASDAQ 100 Tail Risk ETF (QTR) has a volatility of 4.52%. This indicates that QBUF experiences smaller price fluctuations and is considered to be less risky than QTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QBUF	QTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.23%	4.52%	-4.29%
Volatility (6M) Calculated over the trailing 6-month period	3.88%	10.68%	-6.80%
Volatility (1Y) Calculated over the trailing 1-year period	5.25%	14.14%	-8.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.47%	18.10%	-9.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.47%	18.10%	-9.63%

QBUF vs. QTR - Expense Ratio Comparison

QBUF has a 0.79% expense ratio, which is higher than QTR's 0.60% expense ratio.

Dividends

QBUF vs. QTR - Dividend Comparison

QBUF has not paid dividends to shareholders, while QTR's dividend yield for the trailing twelve months is around 15.96%.

Position	TTM	2025	2024	2023	2022	2021
QBUF Innovator Nasdaq-100 10 Buffer ETF - Quarterly	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QTR Global X NASDAQ 100 Tail Risk ETF	15.96%	18.77%	0.50%	0.53%	0.36%	1.90%

Frequently Asked Questions

Can I hold both QBUF and QTR in my portfolio?

QBUF and QTR have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QBUF or QTR?

QTR has higher volatility (4.52%) compared to QBUF (0.23%). In terms of maximum drawdown, QBUF dropped -8.84% vs QTR's -31.72%.

Which ETF is better, QBUF or QTR?

On 1-year performance, QTR leads with 33.76% vs 11.93% for QBUF. On fees, QTR is cheaper at 0.60% per year. On volatility, QBUF has been the lower-risk option at 0.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QBUF or QTR?

Over the 1-year period, QTR has performed better with a 33.76% return vs 11.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QBUF or QTR?

QTR is cheaper with a 0.60% expense ratio, compared with 0.79% for QBUF.

Which ETF pays a higher dividend yield, QBUF or QTR?

QTR has the higher dividend yield at 15.96%, compared with 0.00% for QBUF.

What is the main difference between QBUF and QTR?

QBUF tracks Invesco QQQ Trust, while QTR tracks NASDAQ-100 Quarterly Protective Put 90 Index. They also come from different issuers: Innovator and Global X. Their fees differ too: 0.79% for QBUF and 0.60% for QTR.

Which has better risk-adjusted returns?

QTR currently has the higher Sharpe Ratio (2.40 vs 2.28), 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.