XBJL vs. QMAR

Last updated Jun 4, 2026

XBJL (Innovator U.S. Equity Accelerated 9 Buffer ETF - July) and QMAR (FT Cboe Vest Nasdaq-100 Buffer ETF - March) are both exchange-traded funds - XBJL is a Defined Outcome fund actively managed by Innovator, while QMAR is a Nasdaq-100 fund actively managed by First Trust. Both are actively managed. Over the past 3 years, XBJL returned 11.72%/yr vs 16.73%/yr for QMAR. Their correlation of 0.85 suggests significant overlap in exposure. XBJL charges 0.79%/yr vs 0.90%/yr for QMAR.

Performance

XBJL vs. QMAR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Accelerated 9 Buffer ETF - July (XBJL) and FT Cboe Vest Nasdaq-100 Buffer ETF - March (QMAR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XBJL achieves a 4.17% return, which is significantly lower than QMAR's 13.06% return.

XBJL

• 1D: 0.01%
• 1M: 1.01%
• YTD: 4.17%
• 6M: 5.05%
• 1Y: 12.17%
• 3Y*: 11.72%
• 5Y*: —
• 10Y*: —

QMAR

• 1D: -0.09%
• 1M: 2.81%
• YTD: 13.06%
• 6M: 14.01%
• 1Y: 23.38%
• 3Y*: 16.73%
• 5Y*: 12.13%
• 10Y*: —

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

XBJL vs. QMAR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XBJL Innovator U.S. Equity Accelerated 9 Buffer ETF - July	4.17%	12.05%	11.50%	19.49%	-4.98%	4.70%
QMAR FT Cboe Vest Nasdaq-100 Buffer ETF - March	13.06%	10.89%	16.11%	35.47%	-16.56%	4.93%

Correlation

The correlation between XBJL and QMAR is 0.77, 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	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (All Time) Calculated using the full available price history since Jul 2, 2021	0.85

The correlation between XBJL and QMAR has been stable across timeframes, ranging from 0.77 to 0.85 - a consistent structural relationship.

XBJL vs. QMAR - Sectors Allocation Comparison

Sectors	XBJL	QMAR
Technology	36.2%	54.2%
Financial Services	11.9%	0.2%
Communication Services	10.9%	15.5%
Consumer Cyclical	10.1%	12.2%
Healthcare	8.4%	4.2%
Industrials	8.1%	2.8%
Consumer Defensive	4.9%	7.6%
Energy	3.5%	0.6%
Utilities	2.3%	1.4%
Real Estate	1.9%	0.1%
Basic Materials	1.8%	1.2%

Return for Risk

XBJL vs. QMAR — Risk / Return Rank

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

XBJL

XBJL Risk / Return Rank: 82
XBJL Sharpe Ratio Rank: 75
XBJL Sortino Ratio Rank: 83
XBJL Omega Ratio Rank: 87
XBJL Calmar Ratio Rank: 74
XBJL Martin Ratio Rank: 90

QMAR

QMAR Risk / Return Rank: 96
QMAR Sharpe Ratio Rank: 95
QMAR Sortino Ratio Rank: 97
QMAR Omega Ratio Rank: 97
QMAR Calmar Ratio Rank: 94
QMAR Martin Ratio Rank: 97

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.

XBJL vs. QMAR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Accelerated 9 Buffer ETF - July (XBJL) and FT Cboe Vest Nasdaq-100 Buffer ETF - March (QMAR). 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.

	XBJL	QMAR	Difference
Sharpe ratio Return per unit of total volatility	2.41	3.86	-1.45
Sortino ratio Return per unit of downside risk	3.71	6.05	-2.34
Omega ratio Gain probability vs. loss probability	1.53	1.93	-0.40
Calmar ratio Return relative to maximum drawdown	3.70	7.31	-3.61
Martin ratio Return relative to average drawdown	20.85	52.66	-31.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XBJL vs. QMAR - Sharpe Ratio Comparison

The current XBJL Sharpe Ratio is 2.41, which is lower than the QMAR Sharpe Ratio of 3.86. The chart below compares the historical Sharpe Ratios of XBJL and QMAR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XBJL	QMAR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.41	3.86	-1.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.93	0.91	+0.02

Drawdowns

XBJL vs. QMAR - Drawdown Comparison

The maximum XBJL drawdown since its inception was -11.78%, smaller than the maximum QMAR drawdown of -19.83%. Use the drawdown chart below to compare losses from any high point for XBJL and QMAR.

Drawdown Indicators

	XBJL	QMAR	Difference
Max Drawdown Largest peak-to-trough decline	-11.78%	-19.83%	+8.05%
Max Drawdown (1Y) Largest decline over 1 year	-3.30%	-3.21%	-0.09%
Max Drawdown (3Y) Largest decline over 3 years	-11.74%	-15.91%	+4.17%
Max Drawdown (5Y) Largest decline over 5 years	—	-19.83%	—
Current Drawdown Current decline from peak	0.00%	-0.19%	+0.19%
Average Drawdown Average peak-to-trough decline	-1.63%	-3.28%	+1.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.58%	0.45%	+0.13%

Volatility

XBJL vs. QMAR - Volatility Comparison

The current volatility for Innovator U.S. Equity Accelerated 9 Buffer ETF - July (XBJL) is 0.32%, while FT Cboe Vest Nasdaq-100 Buffer ETF - March (QMAR) has a volatility of 1.27%. This indicates that XBJL experiences smaller price fluctuations and is considered to be less risky than QMAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XBJL	QMAR	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.32%	1.27%	-0.95%
Volatility (6M) Calculated over the trailing 6-month period	3.72%	4.85%	-1.13%
Volatility (1Y) Calculated over the trailing 1-year period	5.08%	6.09%	-1.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.99%	13.97%	-3.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.99%	13.85%	-3.86%

XBJL vs. QMAR - Expense Ratio Comparison

XBJL has a 0.79% expense ratio, which is lower than QMAR's 0.90% expense ratio.

Dividends

XBJL vs. QMAR - Dividend Comparison

Neither XBJL nor QMAR has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XBJL and QMAR in my portfolio?

XBJL and QMAR have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XBJL or QMAR?

QMAR has higher volatility (1.27%) compared to XBJL (0.32%). In terms of maximum drawdown, XBJL dropped -11.78% vs QMAR's -19.83%.

Which ETF is better, XBJL or QMAR?

On 3-year performance, QMAR leads with 16.73% vs 11.72% for XBJL. On fees, XBJL is cheaper at 0.79% per year. On volatility, XBJL has been the lower-risk option at 0.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XBJL or QMAR?

Over the 3-year period, QMAR has performed better with a 16.73% return vs 11.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XBJL or QMAR?

XBJL is cheaper with a 0.79% expense ratio, compared with 0.90% for QMAR.

Which ETF pays a higher dividend yield, XBJL or QMAR?

XBJL and QMAR have nearly identical dividend yields, around 0.00%.

What is the main difference between XBJL and QMAR?

XBJL is categorized as Defined Outcome, while QMAR is Nasdaq-100. They also come from different issuers: Innovator and First Trust. Their fees differ too: 0.79% for XBJL and 0.90% for QMAR.

Which has better risk-adjusted returns?

QMAR currently has the higher Sharpe Ratio (3.86 vs 2.41), 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.