TFJL vs. QB
TFJL (Innovator 20+ Year Treasury Bond 5 Floor ETF - Quarterly) and QB (ProShares Nasdaq-100 Dynamic Daily Buffer ETF) are both Defined Outcome funds. TFJL is actively managed, while QB is passively managed. Over the past year, TFJL returned -5.91% vs 21.06% for QB. Their 0.17 correlation means their historical movements had little consistent relationship. TFJL charges 0.79%/yr vs 0.58%/yr for QB.
Performance
TFJL vs. QB - Performance Comparison
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Returns By Period
In the year-to-date period, TFJL achieves a -4.91% return, which is significantly lower than QB's 13.84% return.
TFJL
- 1D
- -0.35%
- 1M
- -2.54%
- 6M
- -4.81%
- YTD
- -4.91%
- 1Y
- -5.91%
- 3Y*
- -1.44%
- 5Y*
- -4.34%
- 10Y*
- —
- ALL TIME*
- -4.65%
QB
- 1D
- 0.29%
- 1M
- 2.50%
- 6M
- 12.93%
- YTD
- 13.84%
- 1Y
- 21.06%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 18.82%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $58.82K | $37.73K | $149.66K | |
| $14.49K | $26.29K | $56.01K |
TFJL vs. QB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TFJL Innovator 20+ Year Treasury Bond 5 Floor ETF - Quarterly | -4.91% | -0.73% |
QB ProShares Nasdaq-100 Dynamic Daily Buffer ETF | 13.84% | 6.10% |
Correlation
The correlation between TFJL and QB is 0.16, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.16 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.17 |
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Return for Risk
TFJL vs. QB — Risk / Return Rank
TFJL
QB
TFJL vs. QB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator 20+ Year Treasury Bond 5 Floor ETF - Quarterly (TFJL) and ProShares Nasdaq-100 Dynamic Daily Buffer ETF (QB). 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.
| TFJL | QB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.38 | ||
| Sortino ratioReturn per unit of downside risk | -4.93 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.66 | -0.74 |
| Calmar ratioReturn relative to maximum drawdown | -0.53 | 5.83 | -6.36 |
| Martin ratioReturn relative to average drawdown | -1.04 | 27.99 | -29.04 |
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Drawdowns
TFJL vs. QB - Drawdown Comparison
The maximum TFJL drawdown since its inception was -25.45%, which is greater than QB's maximum drawdown of -3.47%. Use the drawdown chart below to compare losses from any high point for TFJL and QB.
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Drawdown Indicators
| TFJL | QB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.45% | -3.47% | -21.98% |
Max Drawdown (1Y)Largest decline over 1 year | -9.32% | -3.47% | -5.85% |
Max Drawdown (3Y)Largest decline over 3 years | -13.49% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -23.45% | — | — |
Current DrawdownCurrent decline from peak | -24.86% | 0.00% | -24.86% |
Average DrawdownAverage peak-to-trough decline | -15.22% | -0.42% | -14.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.69% | 0.72% | +3.97% |
Volatility
TFJL vs. QB - Volatility Comparison
The current volatility for Innovator 20+ Year Treasury Bond 5 Floor ETF - Quarterly (TFJL) is 1.55%, while ProShares Nasdaq-100 Dynamic Daily Buffer ETF (QB) has a volatility of 2.32%. This indicates that TFJL experiences smaller price fluctuations and is considered to be less risky than QB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TFJL | QB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.55% | 2.32% | -0.77% |
Volatility (6M)Calculated over the trailing 6-month period | 5.99% | 6.04% | -0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.29% | 7.27% | +1.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.42% | 7.01% | +2.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.00% | 7.01% | +1.99% |
TFJL vs. QB - Expense Ratio Comparison
TFJL has a 0.79% expense ratio, which is higher than QB's 0.58% expense ratio.
Dividends
TFJL vs. QB - Dividend Comparison
TFJL has not paid dividends to shareholders, while QB's dividend yield for the trailing twelve months is around 0.77%.
| Position | TTM | 2025 |
|---|---|---|
QB ProShares Nasdaq-100 Dynamic Daily Buffer ETF | 0.77% | 0.48% |
TFJL Innovator 20+ Year Treasury Bond 5 Floor ETF - Quarterly | 0.00% | 0.00% |
Frequently Asked Questions
TFJL and QB have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QB has higher volatility (2.32%) compared to TFJL (1.55%). In terms of maximum drawdown, TFJL dropped -25.45% vs QB's -3.47%.
On 1-year performance, QB leads with 21.06% vs -5.91% for TFJL. On fees, QB is cheaper at 0.58% per year. On volatility, TFJL has been the lower-risk option at 1.55%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, QB has performed better with a 21.06% return vs -5.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QB is cheaper with a 0.58% expense ratio, compared with 0.79% for TFJL.
QB has the higher dividend yield at 0.77%, compared with 0.00% for TFJL.
They also come from different issuers: Innovator and ProShares. Their fees differ too: 0.79% for TFJL and 0.58% for QB.
QB currently has the higher Sharpe Ratio (2.79 vs -0.59), 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.
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