TOCT vs. QB

Last updated Jun 4, 2026

TOCT (Innovator Equity Defined Protection ETF - 2 Yr to October 2027) and QB (ProShares Nasdaq-100 Dynamic Daily Buffer ETF) are both Defined Outcome funds. TOCT is actively managed, while QB is passively managed. A 0.64 correlation means they provide meaningful diversification when combined. TOCT charges 0.79%/yr vs 0.58%/yr for QB.

Performance

TOCT vs. QB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Equity Defined Protection ETF - 2 Yr to October 2027 (TOCT) and ProShares Nasdaq-100 Dynamic Daily Buffer ETF (QB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TOCT achieves a 2.05% return, which is significantly lower than QB's 10.47% return.

TOCT

• 1D: -0.07%
• 1M: 0.88%
• YTD: 2.05%
• 6M: 2.32%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QB

• 1D: -0.19%
• 1M: 2.95%
• YTD: 10.47%
• 6M: 9.91%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TOCT vs. QB - Yearly Performance Comparison

	2026 (YTD)	2025
TOCT Innovator Equity Defined Protection ETF - 2 Yr to October 2027	2.05%	0.49%
QB ProShares Nasdaq-100 Dynamic Daily Buffer ETF	10.47%	2.69%

Correlation

The correlation between TOCT and QB is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 2, 2025	0.64

Return for Risk

TOCT vs. QB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Defined Protection ETF - 2 Yr to October 2027 (TOCT) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TOCT	QB	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.30	3.17	-1.87

Drawdowns

TOCT vs. QB - Drawdown Comparison

The maximum TOCT drawdown since its inception was -2.02%, which is greater than QB's maximum drawdown of -1.83%. Use the drawdown chart below to compare losses from any high point for TOCT and QB.

Drawdown Indicators

	TOCT	QB	Difference
Max Drawdown Largest peak-to-trough decline	-2.02%	-1.83%	-0.19%
Current Drawdown Current decline from peak	-0.09%	-0.30%	+0.21%
Average Drawdown Average peak-to-trough decline	-0.40%	-0.34%	-0.06%

Volatility

Volatility by Period

	TOCT	QB	Difference
Volatility (1Y) Calculated over the trailing 1-year period	2.98%	5.75%	-2.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.98%	5.75%	-2.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.98%	5.75%	-2.77%

TOCT vs. QB - Expense Ratio Comparison

TOCT has a 0.79% expense ratio, which is higher than QB's 0.58% expense ratio.

Dividends

TOCT vs. QB - Dividend Comparison

TOCT has not paid dividends to shareholders, while QB's dividend yield for the trailing twelve months is around 0.62%.

Position	TTM	2025
QB ProShares Nasdaq-100 Dynamic Daily Buffer ETF	0.62%	0.48%
TOCT Innovator Equity Defined Protection ETF - 2 Yr to October 2027	0.00%	0.00%

Frequently Asked Questions

Can I hold both TOCT and QB in my portfolio?

TOCT and QB have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TOCT or QB?

On fees, QB is cheaper at 0.58% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TOCT or QB?

QB is cheaper with a 0.58% expense ratio, compared with 0.79% for TOCT.

Which ETF pays a higher dividend yield, TOCT or QB?

QB has the higher dividend yield at 0.62%, compared with 0.00% for TOCT.

What is the main difference between TOCT and QB?

They also come from different issuers: Innovator and ProShares. Their fees differ too: 0.79% for TOCT and 0.58% for QB.