XTAP vs. NAPR

Last updated Aug 4, 2026

XTAP (Innovator U.S. Equity Accelerated Plus ETF) and NAPR (Innovator Nasdaq-100 Power Buffer ETF - April) are both exchange-traded funds - XTAP is a Leveraged Equities fund actively managed by Innovator, while NAPR is a Nasdaq-100 fund tracking the NASDAQ-100 Index. XTAP is actively managed, while NAPR is passively managed. Over the past 5 years, XTAP returned 10.84%/yr vs 9.51%/yr for NAPR. Their correlation of 0.88 means they have usually moved in the same direction. Both charge a 0.79% expense ratio.

Performance

XTAP vs. NAPR - Performance Comparison

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

Returns By Period

In the year-to-date period, XTAP achieves a 12.91% return, which is significantly higher than NAPR's 10.42% return.

XTAP

• 1D: 0.39%
• 1M: 1.42%
• 6M: 12.17%
• YTD: 12.91%
• 1Y: 19.58%
• 3Y*: 17.31%
• 5Y*: 10.84%
• 10Y*: —
• ALL TIME*: 11.57%

NAPR

• 1D: 0.50%
• 1M: 0.69%
• 6M: 9.63%
• YTD: 10.42%
• 1Y: 15.49%
• 3Y*: 12.25%
• 5Y*: 9.51%
• 10Y*: —
• ALL TIME*: 10.78%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NAPR Innovator Nasdaq-100 Power Buffer ETF - April	$239.73K	$276.59K	$582.80K
XTAP Innovator U.S. Equity Accelerated Plus ETF	$37.97K	$25.72K	$30.55K

XTAP vs. NAPR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XTAP Innovator U.S. Equity Accelerated Plus ETF	12.91%	17.58%	14.26%	23.46%	-14.68%	12.26%
NAPR Innovator Nasdaq-100 Power Buffer ETF - April	10.42%	6.56%	13.29%	30.60%	-12.13%	8.16%

Correlation

The correlation between XTAP and NAPR is 0.88, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.88
Correlation (3Y) Balances recent behavior with more history.	0.87
Correlation (5Y) Shows whether the relationship held over a longer period.	0.89
Correlation (All Time) Calculated using the full available price history since Apr 1, 2021	0.88

The correlation between XTAP and NAPR has been stable across timeframes, ranging from 0.87 to 0.89 - a consistent structural relationship.

XTAP vs. NAPR - Sectors Allocation Comparison

Sectors	XTAP	NAPR
Technology	39.1%	50.7%
Financial Services	10.9%	0.2%
Communication Services	10.7%	15.8%
Consumer Cyclical	9.9%	12.5%
Healthcare	8.3%	5.1%
Industrials	7.8%	3.3%
Consumer Defensive	4.5%	8.7%
Energy	3.1%	0.7%
Utilities	2.1%	1.6%
Real Estate	1.8%	0.1%
Basic Materials	1.7%	1.3%

Return for Risk

XTAP vs. NAPR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

XTAP

XTAP Risk / Return Rank: 98
XTAP Sharpe Ratio Rank: 98
XTAP Sortino Ratio Rank: 98
XTAP Omega Ratio Rank: 98
XTAP Calmar Ratio Rank: 98
XTAP Martin Ratio Rank: 98

NAPR

NAPR Risk / Return Rank: 97
NAPR Sharpe Ratio Rank: 97
NAPR Sortino Ratio Rank: 97
NAPR Omega Ratio Rank: 97
NAPR Calmar Ratio Rank: 97
NAPR Martin Ratio Rank: 97

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

XTAP vs. NAPR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Accelerated Plus ETF (XTAP) 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.

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.

	XTAP	NAPR	Difference
Sharpe ratio: Return per unit of total volatility	4.03	3.29	+0.74
Sortino ratio: Return per unit of downside risk	6.62	5.23	+1.39
Omega ratio: Gain probability vs. loss probability	2.02	1.74	+0.28
Calmar ratio: Return relative to maximum drawdown	11.46	7.55	+3.91
Martin ratio: Return relative to average drawdown	58.60	36.55	+22.05

XTAP vs. NAPR - Sharpe Ratio Comparison

The current XTAP Sharpe Ratio is 4.03, which is comparable to the NAPR Sharpe Ratio of 3.29. The chart below compares the historical Sharpe Ratios of XTAP and NAPR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

XTAP vs. NAPR - Drawdown Comparison

The maximum XTAP drawdown since its inception was -22.13%, which is greater than NAPR's maximum drawdown of -16.53%. Use the drawdown chart below to compare losses from any high point for XTAP and NAPR.

Drawdown Indicators

	XTAP	NAPR	Difference
Max Drawdown Largest peak-to-trough decline	-22.13%	-16.53%	-5.60%
Max Drawdown (1Y) Largest decline over 1 year	-1.72%	-2.06%	+0.34%
Max Drawdown (3Y) Largest decline over 3 years	-11.83%	-14.52%	+2.69%
Max Drawdown (5Y) Largest decline over 5 years	-22.13%	-16.53%	-5.60%
Current Drawdown Current decline from peak	0.00%	-0.20%	+0.20%
Average Drawdown Average peak-to-trough decline	-3.36%	-2.24%	-1.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.33%	0.42%	-0.09%

Volatility

XTAP vs. NAPR - Volatility Comparison

The current volatility for Innovator U.S. Equity Accelerated Plus ETF (XTAP) is 1.63%, while Innovator Nasdaq-100 Power Buffer ETF - April (NAPR) has a volatility of 2.03%. This indicates that XTAP experiences smaller price fluctuations and is considered to be less risky than NAPR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XTAP	NAPR	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.63%	2.03%	-0.40%
Volatility (6M) Calculated over the trailing 6-month period	4.03%	4.12%	-0.09%
Volatility (1Y) Calculated over the trailing 1-year period	4.89%	4.73%	+0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.53%	11.34%	+3.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.23%	10.55%	+3.68%

XTAP vs. NAPR - Expense Ratio Comparison

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

Dividends

XTAP vs. NAPR - Dividend Comparison

Neither XTAP nor NAPR has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XTAP and NAPR in my portfolio?

XTAP and NAPR have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XTAP or NAPR?

NAPR has higher volatility (2.03%) compared to XTAP (1.63%). In terms of maximum drawdown, XTAP dropped -22.13% vs NAPR's -16.53%.

Which ETF is better, XTAP or NAPR?

On 5-year performance, XTAP leads with 10.84% vs 9.51% for NAPR. Both ETFs have the same 0.79% expense ratio. On volatility, XTAP has been the lower-risk option at 1.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XTAP or NAPR?

Over the 5-year period, XTAP has performed better with a 10.84% return vs 9.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XTAP or NAPR?

XTAP and NAPR have the same expense ratio: 0.79% per year.

Which ETF pays a higher dividend yield, XTAP or NAPR?

XTAP and NAPR have nearly identical dividend yields, around 0.00%.

What is the main difference between XTAP and NAPR?

XTAP is categorized as Leveraged Equities, while NAPR is Nasdaq-100.

Which has better risk-adjusted returns?

XTAP currently has the higher Sharpe Ratio (4.03 vs 3.29), 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.