QTAP vs. NAPR

Last updated Aug 6, 2026

QTAP (Innovator Growth Accelerated Plus ETF - April) and NAPR (Innovator Nasdaq-100 Power Buffer ETF - April) are both exchange-traded funds - QTAP is a Leveraged Equities fund actively managed by Innovator, while NAPR is a Nasdaq-100 fund tracking the NASDAQ-100 Index. QTAP is actively managed, while NAPR is passively managed. Over the past 5 years, QTAP returned 12.49%/yr vs 9.58%/yr for NAPR. Their correlation of 0.94 means they have usually moved in the same direction. Both charge a 0.79% expense ratio.

Performance

QTAP vs. NAPR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Growth Accelerated Plus ETF - April (QTAP) and Innovator Nasdaq-100 Power Buffer ETF - April (NAPR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QTAP achieves a 15.59% return, which is significantly higher than NAPR's 11.17% return.

QTAP

• 1D: 0.03%
• 1M: 1.24%
• 6M: 15.02%
• YTD: 15.59%
• 1Y: 21.61%
• 3Y*: 20.08%
• 5Y*: 12.49%
• 10Y*: —
• ALL TIME*: 13.79%

NAPR

• 1D: 0.05%
• 1M: 0.89%
• 6M: 10.82%
• YTD: 11.17%
• 1Y: 15.77%
• 3Y*: 12.51%
• 5Y*: 9.58%
• 10Y*: —
• ALL TIME*: 10.89%

*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)
NAPR Innovator Nasdaq-100 Power Buffer ETF - April	$258.66K	$282.84K	$575.16K
QTAP Innovator Growth Accelerated Plus ETF - April	$241.79K	$219.11K	$201.05K

QTAP vs. NAPR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
QTAP Innovator Growth Accelerated Plus ETF - April	15.59%	19.36%	17.34%	43.32%	-25.87%	15.95%
NAPR Innovator Nasdaq-100 Power Buffer ETF - April	11.17%	6.56%	13.29%	30.60%	-12.13%	8.16%

Correlation

The correlation between QTAP and NAPR is 0.90, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.90
Correlation (3Y) Balances recent behavior with more history.	0.92
Correlation (5Y) Shows whether the relationship held over a longer period.	0.94
Correlation (All Time) Calculated using the full available price history since Apr 1, 2021	0.94

The correlation between QTAP and NAPR has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.

QTAP vs. NAPR - Sectors Allocation Comparison

Sectors	QTAP	NAPR
Technology	50.7%	50.7%
Communication Services	15.8%	15.8%
Consumer Cyclical	12.5%	12.5%
Consumer Defensive	8.7%	8.7%
Healthcare	5.1%	5.1%
Industrials	3.3%	3.3%
Utilities	1.6%	1.6%
Basic Materials	1.3%	1.3%
Energy	0.7%	0.7%
Financial Services	0.2%	0.2%
Real Estate	0.1%	0.1%

Return for Risk

QTAP vs. NAPR — Risk / Return Rank

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

QTAP

QTAP Risk / Return Rank: 97
QTAP Sharpe Ratio Rank: 96
QTAP Sortino Ratio Rank: 97
QTAP Omega Ratio Rank: 97
QTAP Calmar Ratio Rank: 97
QTAP Martin Ratio Rank: 97

NAPR

NAPR Risk / Return Rank: 97
NAPR Sharpe Ratio Rank: 97
NAPR Sortino Ratio Rank: 97
NAPR Omega Ratio Rank: 97
NAPR Calmar Ratio Rank: 97
NAPR Martin Ratio Rank: 97

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.

QTAP vs. NAPR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Growth Accelerated Plus ETF - April (QTAP) and Innovator Nasdaq-100 Power Buffer ETF - April (NAPR). 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.

	QTAP	NAPR	Difference
Sharpe ratio: Return per unit of total volatility	3.29	3.35	-0.05
Sortino ratio: Return per unit of downside risk	5.33	5.32	+0.02
Omega ratio: Gain probability vs. loss probability	1.78	1.75	+0.03
Calmar ratio: Return relative to maximum drawdown	7.72	7.68	+0.04
Martin ratio: Return relative to average drawdown	37.02	37.23	-0.21

QTAP vs. NAPR - Sharpe Ratio Comparison

The current QTAP Sharpe Ratio is 3.29, which is comparable to the NAPR Sharpe Ratio of 3.35. The chart below compares the historical Sharpe Ratios of QTAP and NAPR, 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

QTAP vs. NAPR - Drawdown Comparison

The maximum QTAP drawdown since its inception was -29.44%, which is greater than NAPR's maximum drawdown of -16.53%. Use the drawdown chart below to compare losses from any high point for QTAP and NAPR.

Drawdown Indicators

	QTAP	NAPR	Difference
Max Drawdown Largest peak-to-trough decline	-29.44%	-16.53%	-12.91%
Max Drawdown (1Y) Largest decline over 1 year	-2.81%	-2.06%	-0.75%
Max Drawdown (3Y) Largest decline over 3 years	-13.03%	-14.52%	+1.49%
Max Drawdown (5Y) Largest decline over 5 years	-29.44%	-16.53%	-12.91%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.90%	-2.23%	-2.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.59%	0.42%	+0.17%

Volatility

QTAP vs. NAPR - Volatility Comparison

Innovator Growth Accelerated Plus ETF - April (QTAP) has a higher volatility of 2.79% compared to Innovator Nasdaq-100 Power Buffer ETF - April (NAPR) at 2.00%. This indicates that QTAP's price experiences larger fluctuations and is considered to be riskier than NAPR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QTAP	NAPR	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.79%	2.00%	+0.79%
Volatility (6M) Calculated over the trailing 6-month period	5.78%	4.15%	+1.63%
Volatility (1Y) Calculated over the trailing 1-year period	6.60%	4.74%	+1.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.94%	11.34%	+7.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.55%	10.54%	+8.01%

QTAP vs. NAPR - Expense Ratio Comparison

Both QTAP and NAPR have an expense ratio of 0.79%.

Dividends

QTAP vs. NAPR - Dividend Comparison

Neither QTAP nor NAPR has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both QTAP and NAPR in my portfolio?

With a correlation of 0.90, QTAP and NAPR move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, QTAP or NAPR?

QTAP has higher volatility (2.79%) compared to NAPR (2.00%). In terms of maximum drawdown, QTAP dropped -29.44% vs NAPR's -16.53%.

Which ETF is better, QTAP or NAPR?

On 5-year performance, QTAP leads with 12.49% vs 9.58% for NAPR. Both ETFs have the same 0.79% expense ratio. On volatility, NAPR has been the lower-risk option at 2.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QTAP or NAPR?

Over the 5-year period, QTAP has performed better with a 12.49% return vs 9.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QTAP or NAPR?

QTAP and NAPR have the same expense ratio: 0.79% per year.

Which ETF pays a higher dividend yield, QTAP or NAPR?

QTAP and NAPR have nearly identical dividend yields, around 0.00%.

What is the main difference between QTAP and NAPR?

QTAP is categorized as Leveraged Equities, while NAPR is Nasdaq-100.

Which has better risk-adjusted returns?

NAPR currently has the higher Sharpe Ratio (3.35 vs 3.29), 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.