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NAPR vs QMNV

Innovator Nasdaq 100 Power Buffer ETF - April

NAPRCCboe

FT Vest Nasdaq-100 Moderate Buffer ETF - November

QMNVDCboe

Overlap

Expense ratio

NAPR −0.11pt a year

NAPR0.79%QMNV0.90%

Avg volume · 30D

QMNV 1.6×the volume

NAPR5.43KQMNV8.76K

NAPR vs QMNV Performance

Nov 7, 2025 – Nov 9, 2026

+13.9%NAPR+13.4%QMNV

Nov 7, 2025 to Nov 9, 2026. NAPR +13.9%. QMNV +13.4%. Use the arrow keys to read each point.0%2.5%5%7.5%10%Nov 2025May 2026Nov 2026
Expense ratio
NAPR 0.79%, better
QMNV 0.90%
Fund size
NAPR $201M
QMNV $44M
1Y total return
NAPR +13.9%, better
QMNV +13.4%
Holdings
NAPR 3
QMNV 3
Avg volume (30D)
NAPR 5.43K sh
QMNV 8.76K sh, better
NAV per share
NAPR $59.23
QMNV $25.00
52W range

ETF.net Grade

NAPR: Cost 39, Risk 67, Mission not scored, Tradability 58, Holdings not scored, Durability 80. QMNV: Cost 5, Risk 68, Mission not scored, Tradability 62, Holdings not scored, Durability 64.
Pillar letters and Scores for NAPR, QMNV, with each pillar’s weight
PillarNAPRQMNV
Cost30% weightD39HigherF5
Mission25% weightNot scoredNot scored
Risk15% weightB67B68Higher
Tradability15% weightB58B62Higher
Holdings10% weightNot scoredNot scored
Durability5% weightA80HigherB64

Rank among Nasdaq-100 Buffer 15% funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. NAPR and QMNV are both graded against the same 15 Nasdaq-100 Buffer 15% funds, so their Grades compare head to head.

Nasdaq-100 Buffer 15%⁠

Category · 15 funds
See all 15 ›

NAPR ranks 4th and QMNV 14th of 15 funds in the Nasdaq-100 Buffer 15% Category.

  1. Rank 1BQBQFAllianzIM Growth 100 Buffer15 ETFScore 58
  2. Rank 2BNJANInnovator Growth-100 Power Buffer ETFScore 55
  3. Rank 3CNOCTInnovator Growth-100 Power Buffer ETFScore 54
  4. Rank 4CNAPRInnovator Nasdaq 100 Power Buffer ETF - AprilScore 53
  5. Rank 4CNJULInnovator Nasdaq-100 Power Buffer ETF - JulyScore 53
  6. Rank 14DQMFEFT Vest Nasdaq-100 Moderate Buffer ETF - FebruaryScore 37
  7. Rank 14DQMNVFT Vest Nasdaq-100 Moderate Buffer ETF - NovemberScore 37

Our read on each fund

ETF.net Research

NAPRCInnovator Nasdaq 100 Power Buffer ETF - April

QMNVDFT Vest Nasdaq-100 Moderate Buffer ETF - November

In short

NAPR A one-year seatbelt on the Nasdaq-100. NAPR aims to absorb the first 15% of losses in the Nasdaq-100 ETF it references over each April-to-March stretch, in exchange for a ceiling on gains that is reset every April.

QMNV No data

Stated mandate

NAPR The Fund seeks to track the return of the Invesco QQQ Trust (QQQ), subject to a predetermined upside cap and protection against the first 15% of losses during the outcome period.

QMNV No data

Why people hold it

  • NAPR Deep cushion by design: the structure targets the first 15 percentage points of reference-ETF losses over the outcome period, so you take the hit only past that line.innovatoretfs.com
  • It rolls instead of expiring. Every April 1 the buffer resets and a fresh cap is struck for the next twelve months, so the position keeps running without you rebuilding it.innovatoretfs.com
  • Running since 2020, this April vintage has several completed outcome periods behind it, back when defined-outcome funds were still a curiosity rather than a shelf.
  • The 0.79% fee sits right at the median for Nasdaq-100 buffer funds, and the overall build lands in the upper half of that peer group.

QMNV No data

Worth knowing

  • NAPR The cushion is paid for with a ceiling. Upside is capped at a level struck each April, so a blistering Nasdaq year above that cap is return you watch rather than collect.innovatoretfs.com
  • Terms are built for the full April-to-March period. Buy mid-period and your personal cushion and ceiling differ from the headline numbers, sometimes a lot.innovatoretfs.com
  • Mid-pack on cost, not cheap: PBQQ runs 0.50% and the Calamos Nasdaq-100 series 0.69%. Shares also trade thinly, which can widen the spread at the point of entry.

QMNV No data

Full NAPR profile⁠

Full QMNV profile⁠

NAPR vs QMNV Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

NAPR vs QMNV Cost

Overpaying QMNV vs NAPR

$1,866

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • NAPR 0.79%

    $15,174

  • QMNV 0.90%

    $17,040

$10,000
30 years

Cost over time

  • NAPR 0.79%
  • QMNV 0.90%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530QMNV $17,040NAPR $15,174

Year by year

YearNAPRQMNVOverpaying
10$1,405$1,593$188
20$5,331$6,015$684
30$15,174$17,040$1,866

Expense ratio

  • 0.79%NAPR, cheaper
  • 0.90%QMNV
  • Middle half of Nasdaq-100 Buffer 15% funds
  • Median 0.79%

NAPR 8th cheapest of 15 funds

QMNV 13th cheapest of 15 funds

NAPR vs QMNV Dividends

Last 12 months to Nov 9, 2026
Payout (12M)
NAPR None
QMNV None

Distribution history

NAPRAll NAPR payments⁠

No distribution history available.

QMNVAll QMNV payments⁠

No distribution history available.

NAPR vs QMNV Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
NAPR 7.2%QMNV 7.9%since Dec 2024
Return per unit of riskSharpe ratio, 3 years
NAPR 1.13QMNV 1.11since Dec 2024
Worst fallMax drawdown, 5 years
NAPR −16.5%QMNV −12.8%since Nov 2024
Market sensitivityBeta, 5 years
NAPR 0.48QMNV 0.59

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