IFLR vs QFLR

IFLRCInnovator International Developed Managed Floor ETF

QFLRCInnovator Nasdaq-100 Managed Floor ETF

In short

IFLR Innovator's managed-floor engine, pointed overseas for the first time: a basket of developed-market stocks wrapped in a laddered put overlay that aims to hold annual losses near 8-12%.

QFLR Most Nasdaq-100 downside plays lock you into a 12-month outcome period with a reset date. QFLR skips the calendar: about 50 large-cap stocks with a ladder of put options underneath, run by a manager rather than a fixed series.

Stated mandate

IFLR The Fund seeks capital appreciation from international developed equities while limiting potential maximum losses through an actively managed, laddered options overlay.

QFLR The Fund seeks capital appreciation through participation in U.S. large-capitalization companies represented by the Nasdaq-100 Index while limiting potential maximum losses. It uses a hedging strategy with laddered put options and short-dated call sales.

Why people hold it

• IFLR The first time Innovator has run its Managed Floor strategy outside US equities, with Parametric handling the options work.globenewswire.cominnovatoretfs.com
• Targets 70-80% participation in developed-market upside while aiming to limit annual losses to roughly 8-12%, before fees and expenses.globenewswire.com
• The options are laddered rather than locked to a single outcome period, so there is no start date to time. The floor rolls forward instead of resetting on a calendar.innovatoretfs.com
• Owns the stocks themselves, roughly 300 of them, sampled against the MSCI EAFE Index rather than stacked on top of other funds.

• QFLR The hedge rides a ladder of puts instead of a single 12-month outcome period, so there is no reset date to time and no waiting for the next series to open.
• It owns roughly 50 U.S. large caps directly rather than options on another fund, with the put ladder and call writing layered on top.
• For a niche hedged strategy, it changes hands easily: one of the smoother names in this corner of the market to get in and out of.

Worth knowing

• IFLR 0.89% a year, matching the median for floor funds. That fee buys the overlay and the active management, not the index exposure underneath it.
• Calls get sold to help pay for the puts, which is why participation is partial. A strong overseas rally is only partly yours.globenewswire.com
• Launched in late 2025 and thinly traded so far, so spreads can be wide and there is little live history to judge the floor across a full cycle.

• QFLR Fee is 0.89% a year, above the laddered and structured-protection options in its group (PBQQ at 0.50%, CPNS and CPNJ at 0.69%).
• The floor is financed by selling short-dated calls, so a fast Nasdaq-100 rally gets clipped. Upside is the currency here.
• The mandate is to limit maximum losses, not erase them, and the manager sets the hedge. No published cap or buffer to check before you buy.

Full IFLR profile⁠

Full QFLR profile⁠