QNXT vs. QBUF

Last updated Jun 4, 2026

QNXT (iShares Nasdaq-100 ex Top 30 ETF) and QBUF (Innovator Nasdaq-100 10 Buffer ETF - Quarterly) are both Nasdaq-100 funds - QNXT tracks the Nasdaq-100 ex Top 30 UCITS Index while QBUF tracks the Invesco QQQ Trust. Both are passively managed. Over the past year, QNXT returned 25.34% vs 11.93% for QBUF. A 0.71 correlation means they provide meaningful diversification when combined. QNXT charges 0.20%/yr vs 0.79%/yr for QBUF.

Performance

QNXT vs. QBUF - 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 10 Buffer ETF - Quarterly (QBUF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QNXT achieves a 15.67% return, which is significantly higher than QBUF's 4.68% return.

QNXT

• 1D: -0.61%
• 1M: 9.65%
• YTD: 15.67%
• 6M: 13.13%
• 1Y: 25.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QBUF

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

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

QNXT vs. QBUF - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QNXT iShares Nasdaq-100 ex Top 30 ETF	15.67%	14.97%	-2.52%
QBUF Innovator Nasdaq-100 10 Buffer ETF - Quarterly	4.68%	11.08%	3.57%

Correlation

The correlation between QNXT and QBUF is 0.67, 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	0.67
Correlation (All Time) Calculated using the full available price history since Oct 25, 2024	0.71

The correlation between QNXT and QBUF has been stable across timeframes, ranging from 0.67 to 0.71 - a consistent structural relationship.

QNXT vs. QBUF - Sectors Allocation Comparison

Sectors	QNXT	QBUF
Technology	40.3%	50.7%
Consumer Cyclical	17.0%	12.5%
Industrials	10.6%	3.3%
Communication Services	8.8%	15.8%
Healthcare	7.5%	5.1%
Utilities	6.1%	1.6%
Consumer Defensive	5.7%	8.7%
Energy	2.7%	0.7%
Financial Services	1.0%	0.2%
Real Estate	0.3%	0.1%
Basic Materials	-	1.3%

Return for Risk

QNXT vs. QBUF — Risk / Return Rank

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

QNXT

QNXT Risk / Return Rank: 49
QNXT Sharpe Ratio Rank: 50
QNXT Sortino Ratio Rank: 49
QNXT Omega Ratio Rank: 47
QNXT Calmar Ratio Rank: 52
QNXT Martin Ratio Rank: 49

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

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.

QNXT vs. QBUF - 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 10 Buffer ETF - Quarterly (QBUF). 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.

	QNXT	QBUF	Difference
Sharpe ratio: Return per unit of total volatility	1.70	2.28	-0.58
Sortino ratio: Return per unit of downside risk	2.37	3.20	-0.83
Omega ratio: Gain probability vs. loss probability	1.29	1.48	-0.19
Calmar ratio: Return relative to maximum drawdown	2.50	5.19	-2.68
Martin ratio: Return relative to average drawdown	8.17	17.79	-9.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QNXT vs. QBUF - Sharpe Ratio Comparison

The current QNXT Sharpe Ratio is 1.70, which is comparable to the QBUF Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of QNXT and QBUF, 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

	QNXT	QBUF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.70	2.28	-0.58
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	1.36	-0.46

Drawdowns

QNXT vs. QBUF - Drawdown Comparison

The maximum QNXT drawdown since its inception was -22.25%, which is greater than QBUF's maximum drawdown of -8.84%. Use the drawdown chart below to compare losses from any high point for QNXT and QBUF.

Drawdown Indicators

	QNXT	QBUF	Difference
Max Drawdown Largest peak-to-trough decline	-22.25%	-8.84%	-13.41%
Max Drawdown (1Y) Largest decline over 1 year	-10.16%	-2.31%	-7.85%
Current Drawdown Current decline from peak	-0.61%	-0.01%	-0.60%
Average Drawdown Average peak-to-trough decline	-3.79%	-0.82%	-2.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.11%	0.67%	+2.44%

Volatility

QNXT vs. QBUF - Volatility Comparison

iShares Nasdaq-100 ex Top 30 ETF (QNXT) has a higher volatility of 3.52% compared to Innovator Nasdaq-100 10 Buffer ETF - Quarterly (QBUF) at 0.23%. This indicates that QNXT's price experiences larger fluctuations and is considered to be riskier than QBUF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QNXT	QBUF	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.52%	0.23%	+3.29%
Volatility (6M) Calculated over the trailing 6-month period	10.92%	3.88%	+7.04%
Volatility (1Y) Calculated over the trailing 1-year period	15.05%	5.25%	+9.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.73%	8.47%	+11.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.73%	8.47%	+11.26%

QNXT vs. QBUF - Expense Ratio Comparison

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

Dividends

QNXT vs. QBUF - Dividend Comparison

QNXT's dividend yield for the trailing twelve months is around 0.60%, while QBUF has not paid dividends to shareholders.

Position	TTM	2025	2024
QBUF Innovator Nasdaq-100 10 Buffer ETF - Quarterly	0.00%	0.00%	0.00%
QNXT iShares Nasdaq-100 ex Top 30 ETF	0.60%	0.64%	0.22%

Frequently Asked Questions

Can I hold both QNXT and QBUF in my portfolio?

QNXT and QBUF have a correlation of 0.67, 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 QBUF?

QNXT has higher volatility (3.52%) compared to QBUF (0.23%). In terms of maximum drawdown, QNXT dropped -22.25% vs QBUF's -8.84%.

Which ETF is better, QNXT or QBUF?

On 1-year performance, QNXT leads with 25.34% vs 11.93% for QBUF. On fees, QNXT is cheaper at 0.20% 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, QNXT or QBUF?

Over the 1-year period, QNXT has performed better with a 25.34% return vs 11.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QNXT or QBUF?

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

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

QNXT has the higher dividend yield at 0.60%, compared with 0.00% for QBUF.

What is the main difference between QNXT and QBUF?

QNXT tracks Nasdaq-100 ex Top 30 UCITS Index, while QBUF 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 QBUF.

Which has better risk-adjusted returns?

QBUF currently has the higher Sharpe Ratio (2.28 vs 1.70), 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.