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NAPR vs QMAR: which one stands where?

As of Oct 1, 2026 QMAR can fall 13.3% before its buffer engages and NAPR 10.8%, and QMAR resets 12 days sooner. Innovator Growth-100 Power Buffer ETF - Apr and FT Vest Nasdaq-100® Buffer ETF - March.

10.8%
NAPR can fall this far before its buffer
13.3%
QMAR can fall this far before its buffer
4.7%
NAPR can still gain
5.0%
QMAR can still gain
NAPRAt its cap
At its capNAPR: reference +28.2% since period start, fund +11.6%; buffer 0 to −15; cap +17.2%; At its cap.15 pts of buffer+17.2% gain captured−15.0% floor0% period start+17.2% capTODAY · QQQ +28.2%At its capNAPR: reference +28.2% since period start, fund +11.6%; buffer 0 to −15; cap +17.2%; At its cap.15 pts+17.2%−15.0% floor0% start+17.2% capTODAY · QQQ +28.2%

NAPR: reference +28.2% since period start, fund +11.6%; buffer 0 to −15; cap +17.2%; At its cap.

QMARAt its cap
At its capQMAR: reference +27.1% since period start, fund +14.3%; buffer 0 to −10; cap +20.9%; At its cap.10 pts of buffer+20.9% gain captured−10.0% floor0% period start+20.9% capTODAY · QQQ +27.1%At its capQMAR: reference +27.1% since period start, fund +14.3%; buffer 0 to −10; cap +20.9%; At its cap.10 pts+20.9% gained−10.0% floor0% start+20.9% capTODAY · QQQ +27.1%

QMAR: reference +27.1% since period start, fund +14.3%; buffer 0 to −10; cap +20.9%; At its cap.

ETFIQ Downside Cover Score · NAPR scores higherIf the market falls into a bear market from here, how much does the buffer absorb?
0.2, the lowest in this set99.8, the highest

A percentile among the 293 buffer ETFs with a live outcome period. It is a position in a set, not a rating, and neither end of it is a recommendation. All buffer ETFs ranked by it → How it is computed →

Both are already at their cap, so neither gains from more rise in the index before the period ends.

Where each one stands today

QMAR resets first, on Mar 19, 2027, 170 days from now; NAPR runs to Mar 31, 2027, 182 days. NAPR can still gain 4.7% before its cap, QMAR 5.0%. A fall from here reaches NAPR’s buffer after 10.8% and QMAR’s after 13.3%. Both track QQQ, so what separates them is where each is in its own period.

Every figure is ETFIQ’s own, from the issuer’s published outcome-period terms. A buffer ETF holds FLEX options on its reference index rather than shares, so there is no holdings overlap between two of them to report.

Performance, window by window

Total returnGap to the reference
WindowNAPRQMARNAPRQMAR
3 months+2.9%+3.6%+0.8 pts+1.4 pts
6 months+10.6%+13.7%−16.3 pts−13.2 pts
1 year+15.6%+19.4%−8.2 pts−4.4 pts
3 years+45.5%+59.9%−64.5 pts−50.0 pts

NAPR and QMAR over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

NAPR
Innovator Growth-100 Power Buffer ETF - Apr · Absorbs the first 15% of loss on QQQ and caps the gain at 17.2%, over a period ending Mar 31, 2027
QMAR
FT Vest Nasdaq-100® Buffer ETF - March · Absorbs the first 10% of loss on QQQ and caps the gain at 20.9%, over a period ending Mar 19, 2027
Issuer Innovator First Trust
Reference index QQQ QQQ
Buffer 15% 10%
Outcome period Mar 31, 2026 to Mar 31, 2027 Mar 23, 2026 to Mar 19, 2027
Days left 182 170
Starting cap +17.2% +20.9%
Can still gain 4.7% 5.0%
Fall before buffer 10.8% 13.3%
Protection left, index points 15.0% of 15.0% 10.0% of 10.0%
Index return this period +28.2% +27.1%
Fund return this period +11.6% +14.3%
State today At cap At cap
Expense ratio 0.79% 0.90%
Net assets $210m $611m

NAPR and QMAR on the same fields, as of Oct 1, 2026. Source: ETFIQ.

NAPR in plain words

QQQ had already risen past this fund's cap of +17.2% for the period on Oct 1, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 4.7% as the period runs out. The fund's price can fall 10.8% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, QQQ can fall 22.0% from today's level to the point where the buffer begins. Protection left, in index points: 15.0% of the 15.0% buffer still sits below today's QQQ level. 182 days remained on Oct 1, 2026. On Mar 31, 2027 the period ends and a new cap is set.

QMAR in plain words

QQQ had already risen past this fund's cap of +20.9% for the period on Oct 1, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 5.0% as the period runs out. The fund's price can fall 13.3% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, QQQ can fall 21.3% from today's level to the point where the buffer begins. Protection left, in index points: 10.0% of the 10.0% buffer still sits below today's QQQ level. 170 days remained on Oct 1, 2026. On Mar 19, 2027 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, NAPR or QMAR?
From their prices on Oct 1, 2026, NAPR can gain about 4.7% before its cap and QMAR about 5.0%, so QMAR has more room left this period.
Which resets first, NAPR or QMAR?
NAPR ends its outcome period on Mar 31, 2027 and QMAR on Mar 19, 2027. A new cap is set the day after each.
Which is cheaper, NAPR or QMAR?
NAPR charges 0.79% a year and QMAR charges 0.90%, so NAPR is cheaper. Fees come from each fund's prospectus.
Other comparisons
NAPR vs PQAPQMAR vs PQAP
QQQ →NAPR on its own →QMAR on its own →How every figure is computed →Standards and sources →
Where these figures came from
NAPR filings on SEC EDGAR ↗Innovator page for NAPR ↗QMAR filings on SEC EDGAR ↗First Trust page for QMAR ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, NAPR against QMAR, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/napr-vs-qmar

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.