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NAUG vs QCJL: which one stands where?

As of Oct 1, 2026 NAUG can fall 4.6% before its buffer engages and QCJL 4.5%, and QCJL resets 15 days sooner. Innovator Growth-100 Power Buffer ETF - Aug and FT Vest Nasdaq-100® Conservative Buffer ETF - July.

4.6%
NAUG can fall this far before its buffer
4.5%
QCJL can fall this far before its buffer
14.2%
NAUG can still gain
11.3%
QCJL can still gain
NAUGBetween buffer and cap
Between buffer and capNAUG: reference +7.5% since period start, fund +4.6%; buffer 0 to −15; cap +19.7%; Between buffer and cap.15 pts of buffer+7.5% gained+12.1% more to the cap−15.0% floor0% period start+19.7% capTODAY · QQQ +7.5%Between buffer and capNAUG: reference +7.5% since period start, fund +4.6%; buffer 0 to −15; cap +19.7%; Between buffer and cap.15 pts+7.5%−15.0% floor0% start+19.7% capTODAY · QQQ +7.5%

NAUG: reference +7.5% since period start, fund +4.6%; buffer 0 to −15; cap +19.7%; Between buffer and cap.

QCJLBetween buffer and cap
Between buffer and capQCJL: reference +6.4% since period start, fund +3.8%; buffer 0 to −20; cap +16.4%; Between buffer and cap.20 pts of buffer+6.4% gained+10% more to the cap−20.0% floor0% period start+16.4% capTODAY · QQQ +6.4%Between buffer and capQCJL: reference +6.4% since period start, fund +3.8%; buffer 0 to −20; cap +16.4%; Between buffer and cap.20 pts of buffer−20.0% floor0% start+16.4% capTODAY · QQQ +6.4%

QCJL: reference +6.4% since period start, fund +3.8%; buffer 0 to −20; cap +16.4%; Between buffer and cap.

ETFIQ Downside Cover Score · QCJL 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 →

Where each one stands today

QCJL resets first, on Jul 16, 2027, 289 days from now; NAUG runs to Jul 31, 2027, 304 days. NAUG can still gain 14.2% before its cap, QCJL 11.3%. A fall from here reaches NAUG’s buffer after 4.6% and QCJL’s after 4.5%. 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
WindowNAUGQCJLNAUGQCJL
3 months+5.4%+4.1%+3.3 pts+2.0 pts
6 months+14.7%+11.0%−12.2 pts−15.8 pts
1 year+15.3%+12.0%−8.5 pts−11.8 pts

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

On the same fields

NAUG
Innovator Growth-100 Power Buffer ETF - Aug · Absorbs the first 15% of loss on QQQ and caps the gain at 19.7%, over a period ending Jul 31, 2027
QCJL
FT Vest Nasdaq-100® Conservative Buffer ETF - July · Absorbs the first 20% of loss on QQQ and caps the gain at 16.4%, over a period ending Jul 16, 2027
Issuer Innovator First Trust
Reference index QQQ QQQ
Buffer 15% 20%
Outcome period Jul 31, 2026 to Jul 31, 2027 Jul 20, 2026 to Jul 16, 2027
Days left 304 289
Starting cap +19.7% +16.4%
Can still gain 14.2% 11.3%
Fall before buffer 4.6% 4.5%
Protection left, index points 15.0% of 15.0% 20.0% of 20.0%
Index return this period +7.5% +6.4%
Fund return this period +4.6% +3.8%
State today Open Open
Expense ratio 0.79% 0.90%
Net assets $68m $103m

NAUG and QCJL on the same fields, as of Oct 1, 2026. Source: ETFIQ.

NAUG in plain words

From its price on Oct 1, 2026, the fund can gain about 14.2% more before it reaches its cap. The fund's price can fall 4.6% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, QQQ can fall 7.0% 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. 304 days remained on Oct 1, 2026. On Jul 31, 2027 the period ends and a new cap is set.

QCJL in plain words

From its price on Oct 1, 2026, the fund can gain about 11.3% more before it reaches its cap. The fund's price can fall 4.5% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, QQQ can fall 6.0% from today's level to the point where the buffer begins. Protection left, in index points: 20.0% of the 20.0% buffer still sits below today's QQQ level. 289 days remained on Oct 1, 2026. On Jul 16, 2027 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, NAUG or QCJL?
From their prices on Oct 1, 2026, NAUG can gain about 14.2% before its cap and QCJL about 11.3%, so NAUG has more room left this period.
Which resets first, NAUG or QCJL?
NAUG ends its outcome period on Jul 31, 2027 and QCJL on Jul 16, 2027. A new cap is set the day after each.
Which is cheaper, NAUG or QCJL?
NAUG charges 0.79% a year and QCJL charges 0.90%, so NAUG is cheaper. Fees come from each fund's prospectus.
Other comparisons
NAUG vs QAUNAUG vs QQAUQCJL vs QQAUQCJL vs QAU
QQQ →NAUG on its own →QCJL on its own →How every figure is computed →Standards and sources →
Where these figures came from
NAUG filings on SEC EDGAR ↗Innovator page for NAUG ↗QCJL filings on SEC EDGAR ↗First Trust page for QCJL ↗

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, NAUG against QCJL, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/naug-vs-qcjl

Open data

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