UDEC vs. QB
UDEC (Innovator U.S. Equity Ultra Buffer ETF - December) and QB (ProShares Nasdaq-100 Dynamic Daily Buffer ETF) are both Defined Outcome funds - UDEC tracks the S&P 500 while QB tracks the Nasdaq-100. Both are passively managed. Over the past year, UDEC returned 15.43% vs 21.91% for QB. Their 0.74 correlation means they have sometimes moved together and sometimes differently. UDEC charges 0.79%/yr vs 0.58%/yr for QB.
Performance
UDEC vs. QB - Performance Comparison
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Returns By Period
In the year-to-date period, UDEC achieves a 6.52% return, which is significantly lower than QB's 14.64% return.
UDEC
- 1D
- 0.47%
- 1M
- 1.33%
- 6M
- 5.40%
- YTD
- 6.52%
- 1Y
- 15.43%
- 3Y*
- 11.63%
- 5Y*
- 7.38%
- 10Y*
- —
- ALL TIME*
- 7.30%
QB
- 1D
- 0.70%
- 1M
- 3.21%
- 6M
- 13.78%
- YTD
- 14.64%
- 1Y
- 21.91%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 19.42%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $54.65K | $36.90K | $152.33K | |
| $499.11K | $383.21K | $1.53M |
UDEC vs. QB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
UDEC Innovator U.S. Equity Ultra Buffer ETF - December | 6.52% | 10.14% |
QB ProShares Nasdaq-100 Dynamic Daily Buffer ETF | 14.64% | 6.10% |
Correlation
The correlation between UDEC and QB is 0.74, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.74 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.74 |
The correlation between UDEC and QB has been stable across timeframes, ranging from 0.74 to 0.74 - a consistent structural relationship.
UDEC vs. QB - Sectors Allocation Comparison
Sectors
UDEC
QB
Technology
Financial Services
Communication Services
Consumer Cyclical
Healthcare
Industrials
Consumer Defensive
Energy
Utilities
Real Estate
Basic Materials
Technology
UDEC
QB
Financial Services
UDEC
QB
Communication Services
UDEC
QB
Consumer Cyclical
UDEC
QB
Healthcare
UDEC
QB
Industrials
UDEC
QB
Consumer Defensive
UDEC
QB
Energy
UDEC
QB
Utilities
UDEC
QB
Real Estate
UDEC
QB
Basic Materials
UDEC
QB
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Return for Risk
UDEC vs. QB — Risk / Return Rank
UDEC
QB
UDEC vs. QB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Ultra Buffer ETF - December (UDEC) 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.
| UDEC | QB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.68 | ||
| Sortino ratioReturn per unit of downside risk | -1.09 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.73 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 3.49 | 6.33 | -2.84 |
| Martin ratioReturn relative to average drawdown | 16.73 | 30.39 | -13.66 |
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Drawdowns
UDEC vs. QB - Drawdown Comparison
The maximum UDEC drawdown since its inception was -13.37%, which is greater than QB's maximum drawdown of -3.47%. Use the drawdown chart below to compare losses from any high point for UDEC and QB.
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Drawdown Indicators
| UDEC | QB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.37% | -3.47% | -9.90% |
Max Drawdown (1Y)Largest decline over 1 year | -4.44% | -3.47% | -0.97% |
Max Drawdown (3Y)Largest decline over 3 years | -8.94% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -10.26% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -2.12% | -0.42% | -1.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 0.72% | +0.20% |
Volatility
UDEC vs. QB - Volatility Comparison
The current volatility for Innovator U.S. Equity Ultra Buffer ETF - December (UDEC) is 1.81%, while ProShares Nasdaq-100 Dynamic Daily Buffer ETF (QB) has a volatility of 2.38%. This indicates that UDEC 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
| UDEC | QB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.81% | 2.38% | -0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 4.63% | 6.06% | -1.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.61% | 7.27% | -0.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.27% | 7.02% | +0.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.98% | 7.02% | +0.96% |
UDEC vs. QB - Expense Ratio Comparison
UDEC has a 0.79% expense ratio, which is higher than QB's 0.58% expense ratio.
Dividends
UDEC vs. QB - Dividend Comparison
UDEC has not paid dividends to shareholders, while QB's dividend yield for the trailing twelve months is around 0.76%.
| Position | TTM | 2025 |
|---|---|---|
QB ProShares Nasdaq-100 Dynamic Daily Buffer ETF | 0.76% | 0.48% |
UDEC Innovator U.S. Equity Ultra Buffer ETF - December | 0.00% | 0.00% |
Frequently Asked Questions
UDEC and QB have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QB has higher volatility (2.38%) compared to UDEC (1.81%). In terms of maximum drawdown, UDEC dropped -13.37% vs QB's -3.47%.
On 1-year performance, QB leads with 21.91% vs 15.43% for UDEC. On fees, QB is cheaper at 0.58% per year. On volatility, UDEC has been the lower-risk option at 1.81%. 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 21.91% return vs 15.43%. 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 UDEC.
QB has the higher dividend yield at 0.76%, compared with 0.00% for UDEC.
UDEC tracks S&P 500, while QB tracks Nasdaq-100. They also come from different issuers: Innovator and ProShares. Their fees differ too: 0.79% for UDEC and 0.58% for QB.
QB currently has the higher Sharpe Ratio (3.03 vs 2.35), 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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