NOCT vs QCJA: Grades, Fees and Holdings Compared

Innovator Growth-100 Power Buffer ETF

NOCTCCboe

FT Vest Nasdaq-100 Conservative Buffer ETF - January

QCJACCboe

Overlap

0.0%by weight

Expense ratio

NOCT −0.11pt a year

NOCT0.79%QCJA0.90%

Avg volume · 30D

NOCT 1.6×the volume

NOCT35.3KQCJA21.9K

NOCT vs QCJA Performance

Nov 5, 2025 – Nov 5, 2026

+4.5%NOCT+6.6%QCJA

Expense ratio: NOCT 0.79%, better; QCJA 0.90%
Fund size: NOCT $316M; QCJA $77M
1Y total return: NOCT +4.5%; QCJA +6.6%, better
Yield (12M): NOCT 0.00%; QCJA No data
Holdings: NOCT 3; QCJA 3
Avg volume (30D): NOCT 35.3K sh, better; QCJA 21.9K sh
NAV per share: NOCT $62.44; QCJA $23.75
52W range

ETF.net Grade

Pillar letters and Scores for NOCT, QCJA, with each pillar’s weight
Pillar	NOCT	QCJA
Cost30% weight	D39Higher	F5
Mission25% weight	A93	Not scored
Risk15% weight	C52	A77Higher
Tradability15% weight	A79Higher	A73
Holdings10% weight	Not scored	Not scored
Durability5% weight	A91Higher	B68

Rank among Nasdaq-100 Buffer 15% funds

How we build Categories ›

Same Category. NOCT and QCJA 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 ›

NOCT ranks 2nd and QCJA 7th of 15 funds in the Nasdaq-100 Buffer 15% Category.

Rank 1BQBQFAllianzIM Growth 100 Buffer15 ETFScore 56
Rank 2CNOCTInnovator Growth-100 Power Buffer ETFScore 55
Rank 3CNJANInnovator Growth-100 Power Buffer ETFScore 54
Rank 6CNJUNInnovator Growth-100 Power Buffer ETF - JuneScore 46
Rank 7CQCJAFT Vest Nasdaq-100 Conservative Buffer ETF - JanuaryScore 42
Rank 8CQJLCorgi Growth & Technology 10% Structured Buffer ETF - July SeriesScore 40

Our read on each fund

ETF.net Research

NOCTCInnovator Growth-100 Power Buffer ETF

QCJACFT Vest Nasdaq-100 Conservative Buffer ETF - January

In short

NOCT Nasdaq-100 exposure with a 15% airbag: over each one-year outcome period starting October 1, the fund absorbs the first 15% of the reference ETF's decline and gives up gains above a cap in return.

QCJA No data

Stated mandate

NOCT The Fund uses a defined-outcome strategy based on the Nasdaq-100 exposure of QQQ. It seeks to replicate the underlying ETF’s performance over the outcome period, subject to a capped upside and a 15% downside buffer.

QCJA No data

Why people hold it

NOCT The deal is written into the prospectus: a 15% buffer against the reference Nasdaq-100 ETF's losses over each outcome period, paid for with a capped upside, reset every October 1.innovatoretfs.com
Live since October 2019, so the reset-and-cap machinery has years of real market cycles behind it rather than a backtest.
At 0.79%, the fee sits at the median for Nasdaq-100 buffer funds. The defined-outcome plumbing costs no premium versus the cohort.
An October start date makes this the autumn rung for anyone spreading buffer exposure across reset months instead of concentrating on one date.

QCJA No data

Worth knowing

NOCT Thinly traded, so spreads and limit orders matter more here than with the big plain-index funds.
0.79% is not the cohort floor: PBQQ runs 0.50% and the Calamos Nasdaq-100 protection funds 0.69%, on different protection terms.
Buffer and cap are measured across the full outcome period. Enter mid-period and your effective buffer and remaining upside differ from the stated terms.innovatoretfs.com

QCJA No data

Full NOCT profile⁠

Full QCJA profile⁠

NOCT vs QCJA Holdings

How NOCT and QCJA differ

Overlap by weight

0.0%

Level by level

Holdings0 in both0.0%
Sector10 Sectors96.0%
Countryby domicile100%

Sector

Sector weights in NOCT and QCJA, widest gap first
Sector	Gap	NOCT	QCJA
Communication	NOCT +3.4 points	14.5%	11.1%
Industrials	QCJA +2.7 points	2.6%	5.3%
Health Care	QCJA +1.1 points	3.7%	4.8%
Consumer Discretionary	NOCT +0.6 points	11.6%	11.0%
Consumer Staples	QCJA +0.2 points	6.6%	6.8%
Materials	QCJA +0.1 points	1.0%	1.1%
Financials	Same weight	0.2%	0.2%
Technology	Same weight	58.0%	58.0%
Utilities	Same weight	1.2%	1.2%
Energy	Same weight	0.5%	0.5%

Country, concentration and asset class

Country by domicile

Country weights in NOCT and QCJA, widest gap first
Country	Gap	NOCT	QCJA
United States	Same weight	97.3%	97.3%
Canada	Same weight	1.0%	1.0%
Netherlands	Same weight	0.8%	0.8%
Brazil	Same weight	0.4%	0.4%
China	Same weight	0.2%	0.2%
United Kingdom	Same weight	0.2%	0.2%

Concentration

Weight in the 10 largest Holdings

NOCT105.8%
QCJA104.3%

Securities held

NOCT3
QCJA2

Asset class

NOCT: Stocks
QCJA: Multi-Asset

Holdings

Only in NOCT3
In both0
Only in QCJA2

Only in NOCT

3 securities, 100% of NOCT by weight

Qqq 09/30/2027 7.4 C95.78%
Qqq 09/30/2027 739.77 P9.67%
Us Bank Mmda - Usbgfs 9 09/01/20370.32%

Only in QCJA

2 securities, 100% of QCJA by weight

2027-01-15 Invesco QQQ Trust, Series 1 C 6.20102.75%
2027-01-15 Invesco QQQ Trust, Series 1 P 621.251.09%

Weight gaps

NOCT and QCJA share no securities.

All 6 NOCT holdings⁠All 4 QCJA 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.

NOCT vs QCJA Cost

Overpaying QCJA vs NOCT

$1,866

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

NOCT 0.79%
$15,174
QCJA 0.90%
$17,040

Amount$10,000

Years30 years

Cost over time

NOCT 0.79%
QCJA 0.90%
Overpaying

Year by year

Year	NOCT	QCJA	Overpaying
10	$1,405	$1,593	$188
20	$5,331	$6,015	$684
30	$15,174	$17,040	$1,866

Expense ratio

0.79%NOCT, cheaper
0.90%QCJA

NOCT0.79%QCJA0.90%

0.30%0.90%

Middle half of Nasdaq-100 Buffer 15% funds
Median 0.79%

NOCT 8th cheapest of 15 funds

QCJA 13th cheapest of 15 funds

NOCT vs QCJA Dividends

Last 12 months to Nov 5, 2026

Yield (12M): NOCT 0.00%; QCJA No data
Payout (12M): NOCT None; QCJA None

Distribution history

Per share, 2019, same scale for both

NOCT1 paymentAll NOCT payments⁠

QCJAAll QCJA payments⁠

No distribution history available.

NOCT vs QCJA Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: NOCT 7.8%QCJA 7.0%since Feb 2025
Return per unit of riskSharpe ratio, 3 years: NOCT 1.15QCJA 0.88since Feb 2025
Worst fallMax drawdown, 5 years: NOCT −16.2%QCJA −10.7%since Jan 2025
Market sensitivityBeta, 5 years: NOCT 0.56QCJA 0.53; Market = 1

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