XBOC vs. NAPR

Last updated Apr 1, 2026

Compare and contrast key facts about Innovator U.S. Equity Accelerated 9 Buffer ETF - October (XBOC) and Innovator Nasdaq-100 Power Buffer ETF - April (NAPR).

XBOC and NAPR are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XBOC is an actively managed fund by Innovator. It was launched on Sep 30, 2021. NAPR is a passively managed fund by Innovator that tracks the performance of the NASDAQ-100 Index. It was launched on Mar 31, 2020.

Performance

XBOC vs. NAPR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Accelerated 9 Buffer ETF - October (XBOC) and Innovator Nasdaq-100 Power Buffer ETF - April (NAPR). The values are adjusted to include any dividend payments, if applicable.

XBOC vs. NAPR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XBOC Innovator U.S. Equity Accelerated 9 Buffer ETF - October	-1.99%	11.15%	8.36%	20.06%	-7.58%	3.76%
NAPR Innovator Nasdaq-100 Power Buffer ETF - April	1.71%	6.56%	13.29%	30.60%	-12.13%	2.79%

Returns By Period

In the year-to-date period, XBOC achieves a -1.99% return, which is significantly lower than NAPR's 1.71% return.

XBOC

• 1D: 2.03%
• 1M: -2.59%
• YTD: -1.99%
• 6M: 0.26%
• 1Y: 10.44%
• 3Y*: 10.19%
• 5Y*: —
• 10Y*: —

NAPR

• 1D: 0.13%
• 1M: 0.66%
• YTD: 1.71%
• 6M: 3.74%
• 1Y: 14.51%
• 3Y*: 11.94%
• 5Y*: 8.69%
• 10Y*: —

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

XBOC vs. NAPR - Expense Ratio Comparison

Both XBOC and NAPR have an expense ratio of 0.79%.

XBOC

Innovator U.S. Equity Accelerated 9 Buffer ETF - October

NAPR

Innovator Nasdaq-100 Power Buffer ETF - April

Return for Risk

XBOC vs. NAPR — Risk / Return Rank

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

XBOC

XBOC Risk / Return Rank: 52
XBOC Sharpe Ratio Rank: 44
XBOC Sortino Ratio Rank: 47
XBOC Omega Ratio Rank: 63
XBOC Calmar Ratio Rank: 43
XBOC Martin Ratio Rank: 65

NAPR

NAPR Risk / Return Rank: 86
NAPR Sharpe Ratio Rank: 80
NAPR Sortino Ratio Rank: 87
NAPR Omega Ratio Rank: 96
NAPR Calmar Ratio Rank: 74
NAPR Martin Ratio Rank: 94

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.

XBOC vs. NAPR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Accelerated 9 Buffer ETF - October (XBOC) and Innovator Nasdaq-100 Power Buffer ETF - April (NAPR). 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.

	XBOC	NAPR	Difference
Sharpe ratio Return per unit of total volatility	0.83	1.51	-0.68
Sortino ratio Return per unit of downside risk	1.30	2.43	-1.13
Omega ratio Gain probability vs. loss probability	1.23	1.52	-0.28
Calmar ratio Return relative to maximum drawdown	1.14	1.93	-0.79
Martin ratio Return relative to average drawdown	6.66	14.15	-7.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XBOC vs. NAPR - Sharpe Ratio Comparison

The current XBOC Sharpe Ratio is 0.83, which is lower than the NAPR Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of XBOC and NAPR, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XBOC	NAPR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.83	1.51	-0.68
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.77	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.95	-0.24

Correlation

The correlation between XBOC and NAPR is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

XBOC vs. NAPR - Dividend Comparison

Neither XBOC nor NAPR has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

XBOC vs. NAPR - Drawdown Comparison

The maximum XBOC drawdown since its inception was -13.35%, smaller than the maximum NAPR drawdown of -16.53%. Use the drawdown chart below to compare losses from any high point for XBOC and NAPR.

Drawdown Indicators

	XBOC	NAPR	Difference
Max Drawdown Largest peak-to-trough decline	-13.35%	-16.53%	+3.18%
Max Drawdown (1Y) Largest decline over 1 year	-9.58%	-7.53%	-2.05%
Max Drawdown (5Y) Largest decline over 5 years	—	-16.53%	—
Current Drawdown Current decline from peak	-3.06%	0.00%	-3.06%
Average Drawdown Average peak-to-trough decline	-2.15%	-2.34%	+0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.65%	1.03%	+0.62%

Volatility

XBOC vs. NAPR - Volatility Comparison

Innovator U.S. Equity Accelerated 9 Buffer ETF - October (XBOC) has a higher volatility of 3.68% compared to Innovator Nasdaq-100 Power Buffer ETF - April (NAPR) at 0.65%. This indicates that XBOC's price experiences larger fluctuations and is considered to be riskier than NAPR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XBOC	NAPR	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.68%	0.65%	+3.03%
Volatility (6M) Calculated over the trailing 6-month period	5.57%	2.23%	+3.34%
Volatility (1Y) Calculated over the trailing 1-year period	12.64%	9.65%	+2.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.03%	11.30%	-1.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.03%	10.71%	-0.68%