QNXT vs. NJUL

Last updated Aug 4, 2026

QNXT (iShares Nasdaq-100 ex Top 30 ETF) and NJUL (Innovator Nasdaq-100 Power Buffer ETF - July) are both Nasdaq-100 funds - QNXT tracks the Nasdaq-100 ex Top 30 UCITS Index while NJUL tracks the Invesco QQQ Trust. Both are passively managed. Over the past year, QNXT returned 19.85% vs 10.87% for NJUL. Their correlation of 0.81 means they have usually moved in the same direction. QNXT charges 0.20%/yr vs 0.79%/yr for NJUL.

Performance

QNXT vs. NJUL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Nasdaq-100 ex Top 30 ETF (QNXT) and Innovator Nasdaq-100 Power Buffer ETF - July (NJUL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QNXT achieves a 12.29% return, which is significantly higher than NJUL's 4.38% return.

QNXT

• 1D: 0.57%
• 1M: -1.03%
• 6M: 10.78%
• YTD: 12.29%
• 1Y: 19.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.80%

NJUL

• 1D: 1.06%
• 1M: -0.46%
• 6M: 3.24%
• YTD: 4.38%
• 1Y: 10.87%
• 3Y*: 13.82%
• 5Y*: 10.20%
• 10Y*: —
• ALL TIME*: 10.64%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NJUL Innovator Nasdaq-100 Power Buffer ETF - July	$1.40M	$2.12M	$1.65M
QNXT iShares Nasdaq-100 ex Top 30 ETF	$139.17K	$113.59K	$235.01K

QNXT vs. NJUL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QNXT iShares Nasdaq-100 ex Top 30 ETF	12.29%	14.97%	-2.58%
NJUL Innovator Nasdaq-100 Power Buffer ETF - July	4.38%	15.67%	3.04%

Correlation

The correlation between QNXT and NJUL is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.76
Correlation (All Time) Calculated using the full available price history since Oct 24, 2024	0.81

The correlation between QNXT and NJUL has been stable across timeframes, ranging from 0.76 to 0.81 - a consistent structural relationship.

Return for Risk

QNXT vs. NJUL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

QNXT

QNXT Risk / Return Rank: 48
QNXT Sharpe Ratio Rank: 47
QNXT Sortino Ratio Rank: 47
QNXT Omega Ratio Rank: 44
QNXT Calmar Ratio Rank: 51
QNXT Martin Ratio Rank: 49

NJUL

NJUL Risk / Return Rank: 59
NJUL Sharpe Ratio Rank: 55
NJUL Sortino Ratio Rank: 55
NJUL Omega Ratio Rank: 58
NJUL Calmar Ratio Rank: 57
NJUL Martin Ratio Rank: 70

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

QNXT vs. NJUL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Nasdaq-100 ex Top 30 ETF (QNXT) and Innovator Nasdaq-100 Power Buffer ETF - July (NJUL). 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.

	QNXT	NJUL	Difference
Sharpe ratio: Return per unit of total volatility	1.25	1.38	-0.13
Sortino ratio: Return per unit of downside risk	1.80	2.01	-0.21
Omega ratio: Gain probability vs. loss probability	1.22	1.26	-0.05
Calmar ratio: Return relative to maximum drawdown	1.96	2.12	-0.16
Martin ratio: Return relative to average drawdown	5.94	8.94	-3.00

QNXT vs. NJUL - Sharpe Ratio Comparison

The current QNXT Sharpe Ratio is 1.25, which is comparable to the NJUL Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of QNXT and NJUL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

QNXT vs. NJUL - Drawdown Comparison

The maximum QNXT drawdown since its inception was -22.25%, which is greater than NJUL's maximum drawdown of -14.37%. Use the drawdown chart below to compare losses from any high point for QNXT and NJUL.

Drawdown Indicators

	QNXT	NJUL	Difference
Max Drawdown Largest peak-to-trough decline	-22.25%	-14.37%	-7.88%
Max Drawdown (1Y) Largest decline over 1 year	-10.16%	-5.14%	-5.02%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.58%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-14.37%	—
Current Drawdown Current decline from peak	-3.51%	-2.11%	-1.40%
Average Drawdown Average peak-to-trough decline	-3.75%	-2.28%	-1.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.35%	1.22%	+2.13%

Volatility

QNXT vs. NJUL - Volatility Comparison

iShares Nasdaq-100 ex Top 30 ETF (QNXT) and Innovator Nasdaq-100 Power Buffer ETF - July (NJUL) have volatilities of 3.64% and 3.82%, 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

	QNXT	NJUL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.64%	3.82%	-0.18%
Volatility (6M) Calculated over the trailing 6-month period	11.97%	6.34%	+5.63%
Volatility (1Y) Calculated over the trailing 1-year period	15.97%	7.91%	+8.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.53%	11.68%	+7.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.53%	11.03%	+8.50%

QNXT vs. NJUL - Expense Ratio Comparison

QNXT has a 0.20% expense ratio, which is lower than NJUL's 0.79% expense ratio.

Dividends

QNXT vs. NJUL - Dividend Comparison

QNXT's dividend yield for the trailing twelve months is around 0.67%, while NJUL has not paid dividends to shareholders.

Position	TTM	2025	2024
NJUL Innovator Nasdaq-100 Power Buffer ETF - July	0.00%	0.00%	0.00%
QNXT iShares Nasdaq-100 ex Top 30 ETF	0.67%	0.64%	0.22%

Frequently Asked Questions

Can I hold both QNXT and NJUL in my portfolio?

QNXT and NJUL have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QNXT or NJUL?

NJUL has higher volatility (3.82%) compared to QNXT (3.64%). In terms of maximum drawdown, QNXT dropped -22.25% vs NJUL's -14.37%.

Which ETF is better, QNXT or NJUL?

On 1-year performance, QNXT leads with 19.85% vs 10.87% for NJUL. On fees, QNXT is cheaper at 0.20% per year. On volatility, QNXT has been the lower-risk option at 3.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QNXT or NJUL?

Over the 1-year period, QNXT has performed better with a 19.85% return vs 10.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QNXT or NJUL?

QNXT is cheaper with a 0.20% expense ratio, compared with 0.79% for NJUL.

Which ETF pays a higher dividend yield, QNXT or NJUL?

QNXT has the higher dividend yield at 0.67%, compared with 0.00% for NJUL.

What is the main difference between QNXT and NJUL?

QNXT tracks Nasdaq-100 ex Top 30 UCITS Index, while NJUL tracks Invesco QQQ Trust. They also come from different issuers: iShares and Innovator. Their fees differ too: 0.20% for QNXT and 0.79% for NJUL.

Which has better risk-adjusted returns?

NJUL currently has the higher Sharpe Ratio (1.38 vs 1.25), 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.