QTOC vs. APRW

Last updated Jun 25, 2026

QTOC (Innovator Growth Accelerated Plus ETF - October) and APRW (AllianzIM U.S. Large Cap Buffer20 Apr ETF) are both Options Trading funds. Both are actively managed. Over the past 3 years, QTOC returned 18.31%/yr vs 9.84%/yr for APRW. A 0.78 correlation means they provide meaningful diversification when combined. QTOC charges 0.79%/yr vs 0.74%/yr for APRW.

Performance

QTOC vs. APRW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Growth Accelerated Plus ETF - October (QTOC) and AllianzIM U.S. Large Cap Buffer20 Apr ETF (APRW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QTOC achieves a 9.53% return, which is significantly higher than APRW's 5.94% return.

QTOC

• 1D: -0.05%
• 1M: -0.37%
• YTD: 9.53%
• 6M: 8.58%
• 1Y: 18.87%
• 3Y*: 18.31%
• 5Y*: —
• 10Y*: —

APRW

• 1D: 0.00%
• 1M: 0.01%
• YTD: 5.94%
• 6M: 6.06%
• 1Y: 11.28%
• 3Y*: 9.84%
• 5Y*: 6.93%
• 10Y*: —

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

QTOC vs. APRW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
QTOC Innovator Growth Accelerated Plus ETF - October	9.53%	16.79%	14.90%	38.43%	-29.84%	7.47%
APRW AllianzIM U.S. Large Cap Buffer20 Apr ETF	5.94%	6.18%	11.25%	12.38%	-2.90%	1.96%

Correlation

The correlation between QTOC and APRW is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (All Time) Calculated using the full available price history since Oct 1, 2021	0.78

The correlation between QTOC and APRW has been stable across timeframes, ranging from 0.73 to 0.78 - a consistent structural relationship.

Return for Risk

QTOC vs. APRW — Risk / Return Rank

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

QTOC

QTOC Risk / Return Rank: 53
QTOC Sharpe Ratio Rank: 49
QTOC Sortino Ratio Rank: 51
QTOC Omega Ratio Rank: 58
QTOC Calmar Ratio Rank: 44
QTOC Martin Ratio Rank: 61

APRW

APRW Risk / Return Rank: 98
APRW Sharpe Ratio Rank: 97
APRW Sortino Ratio Rank: 98
APRW Omega Ratio Rank: 98
APRW Calmar Ratio Rank: 98
APRW Martin Ratio Rank: 98

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.

QTOC vs. APRW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Growth Accelerated Plus ETF - October (QTOC) and AllianzIM U.S. Large Cap Buffer20 Apr ETF (APRW). 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.

	QTOC	APRW	Difference
Sharpe ratio: Return per unit of total volatility	1.50	4.26	-2.75
Sortino ratio: Return per unit of downside risk	2.19	7.40	-5.21
Omega ratio: Gain probability vs. loss probability	1.31	2.04	-0.73
Calmar ratio: Return relative to maximum drawdown	1.97	12.69	-10.72
Martin ratio: Return relative to average drawdown	9.51	66.00	-56.49

QTOC vs. APRW - Sharpe Ratio Comparison

The current QTOC Sharpe Ratio is 1.50, which is lower than the APRW Sharpe Ratio of 4.26. The chart below compares the historical Sharpe Ratios of QTOC and APRW, 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

QTOC vs. APRW - Drawdown Comparison

The maximum QTOC drawdown since its inception was -33.43%, which is greater than APRW's maximum drawdown of -9.61%. Use the drawdown chart below to compare losses from any high point for QTOC and APRW.

Drawdown Indicators

	QTOC	APRW	Difference
Max Drawdown Largest peak-to-trough decline	-33.43%	-9.61%	-23.82%
Max Drawdown (1Y) Largest decline over 1 year	-9.63%	-0.89%	-8.74%
Max Drawdown (3Y) Largest decline over 3 years	-21.24%	-9.61%	-11.63%
Max Drawdown (5Y) Largest decline over 5 years	—	-9.61%	—
Current Drawdown Current decline from peak	-1.43%	-0.46%	-0.97%
Average Drawdown Average peak-to-trough decline	-8.40%	-1.11%	-7.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.99%	0.17%	+1.82%

Volatility

QTOC vs. APRW - Volatility Comparison

Innovator Growth Accelerated Plus ETF - October (QTOC) has a higher volatility of 3.07% compared to AllianzIM U.S. Large Cap Buffer20 Apr ETF (APRW) at 1.13%. This indicates that QTOC's price experiences larger fluctuations and is considered to be riskier than APRW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QTOC	APRW	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.07%	1.13%	+1.94%
Volatility (6M) Calculated over the trailing 6-month period	10.42%	2.13%	+8.29%
Volatility (1Y) Calculated over the trailing 1-year period	12.64%	2.67%	+9.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.69%	6.73%	+12.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.69%	6.39%	+13.30%

QTOC vs. APRW - Expense Ratio Comparison

QTOC has a 0.79% expense ratio, which is higher than APRW's 0.74% expense ratio.

Dividends

QTOC vs. APRW - Dividend Comparison

Neither QTOC nor APRW has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
APRW AllianzIM U.S. Large Cap Buffer20 Apr ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.67%
QTOC Innovator Growth Accelerated Plus ETF - October	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QTOC and APRW in my portfolio?

QTOC and APRW 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, QTOC or APRW?

QTOC has higher volatility (3.07%) compared to APRW (1.13%). In terms of maximum drawdown, QTOC dropped -33.43% vs APRW's -9.61%.

Which ETF is better, QTOC or APRW?

On 3-year performance, QTOC leads with 18.31% vs 9.84% for APRW. On fees, APRW is cheaper at 0.74% per year. On volatility, APRW has been the lower-risk option at 1.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QTOC or APRW?

Over the 3-year period, QTOC has performed better with a 18.31% return vs 9.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QTOC or APRW?

APRW is cheaper with a 0.74% expense ratio, compared with 0.79% for QTOC.

Which ETF pays a higher dividend yield, QTOC or APRW?

QTOC and APRW have nearly identical dividend yields, around 0.00%.

What is the main difference between QTOC and APRW?

They also come from different issuers: Innovator and Allianz. Their fees differ too: 0.79% for QTOC and 0.74% for APRW.

Which has better risk-adjusted returns?

APRW currently has the higher Sharpe Ratio (4.26 vs 1.50), 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.