Innovator U.S. Equity Power Buffer ETF - December (PDEC) belongs to the Defined Outcome category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with PDEC. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to PDEC
PDEC charges 0.79% annually. There are 92 ETFs in the Defined Outcome category with lower expense ratios, going as low as 0.25%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Aptus July Buffer ETF | 0.25% | — | Oct 2025 | PDEC vs JULB | |
| Aptus January Buffer ETF | 0.25% | — | Oct 2025 | PDEC vs JANB | |
| Aptus April Buffer ETF | 0.25% | — | Oct 2025 | PDEC vs APRB | |
| Aptus October Buffer ETF | 0.25% | — | Oct 2025 | PDEC vs OCTB | |
| Fidelity Dynamic Buffered Equity ETF | 0.48% | — | Apr 2024 | PDEC vs FBUF |
Best Risk-Adjusted Alternatives to PDEC
PDEC has a PortfoliosLab risk / return rank of 85. There are 124 ETFs in the Defined Outcome category with higher risk-adjusted ranks, going as high as 99.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | 99 | — | Mar 2025 | PDEC vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 98 | 19.60M | Apr 2025 | PDEC vs CPSP | |
| iShares Large Cap Max Buffer Mar ETF | 98 | — | Mar 2025 | PDEC vs MMAX | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | 98 | — | Apr 2025 | PDEC vs ZAPR | |
| Innovator U.S. Equity Accelerated 9 Buffer ETF - A... | 98 | 134.85M | Mar 2021 | PDEC vs XBAP |
Top Performing PDEC Alternatives (YTD)
PDEC is at 6.41% YTD. There are 115 ETFs in the Defined Outcome category with higher YTD returns, going as high as 16.35%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Leverage Shares 2x Capped Accelerated NVDA Monthly... | 16.35% | — | Aug 2025 | PDEC vs NVDO | |
| Innovator U.S. Small Cap Power Buffer ETF - Februa... | 13.68% | — | Jan 2025 | PDEC vs KFEB | |
| Innovator Russell 2000 Power Buffer ETF - April | 13.02% | 214.51M | Mar 2020 | PDEC vs KAPR | |
| FT Cboe Vest Nasdaq-100 Buffer ETF - March | 12.77% | 568.10M | Mar 2021 | PDEC vs QMAR | |
| ProShares Nasdaq-100 Dynamic Daily Buffer ETF | 12.67% | 2.84M | Jun 2025 | PDEC vs QB |
Lowest Volatility Alternatives to PDEC
PDEC has 6.80% 1-year volatility. There are 176 ETFs in the Defined Outcome category with lower 1-year volatility, going as low as 1.15%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | 1.15% | — | Mar 2025 | PDEC vs PMAP | |
| FT Vest U.S. Equity Max Buffer ETF - April | 1.24% | — | Apr 2025 | PDEC vs APXM | |
| PGIM S&P 500 Max Buffer ETF - May | 1.31% | — | Apr 2025 | PDEC vs PMMY | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 1.34% | 19.60M | Apr 2025 | PDEC vs CPSP | |
| iShares Large Cap Max Buffer Mar ETF | 1.42% | — | Mar 2025 | PDEC vs MMAX |
Lowest Drawdown Alternatives to PDEC
PDEC has a 1-year max drawdown of -4.78%. There are 158 ETFs in the Defined Outcome category with shallower 1-year drawdowns, going as shallow as -0.35%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | -0.35% | — | Mar 2025 | PDEC vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | -0.37% | 19.60M | Apr 2025 | PDEC vs CPSP | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | -0.40% | — | Apr 2025 | PDEC vs ZAPR | |
| iShares Large Cap Max Buffer Mar ETF | -0.46% | — | Mar 2025 | PDEC vs MMAX | |
| Calamos S&P 500 Structured Alt Protection ETF - Ma... | -0.49% | 56.60M | May 2024 | PDEC vs CPSM |
Other ETFs from Innovator
The 10 most viewed Innovator ETFs shown here include BALT, FFTY, BUFF and span 6 categories. AUM among these funds goes as high as $3B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Innovator Defined Wealth Shield ETF | Defined Outcome | 96 | 2.68% | 2.68B | Jun 2021 | PDEC vs BALT | |
| Innovator IBD 50 ETF | Large Cap Growth Equities | 25 | 14.13% | 89.40M | Apr 2015 | PDEC vs FFTY | |
| Innovator Laddered Allocation Power Buffer ETF | Defined Outcome | 89 | 6.22% | 891.58M | Oct 2016 | PDEC vs BUFF | |
| Innovator Equity Managed Floor ETF | Options Trading | 57 | 5.58% | 2.12B | Nov 2022 | PDEC vs SFLR | |
| Innovator Deepwater Frontier Tech ETF | Technology Equities | 59 | 21.45% | 221.95M | Jul 2018 | PDEC vs LOUP | |
| Innovator U.S. Equity Power Buffer ETF - January | Defined Outcome | 83 | 5.87% | 1.47B | Jan 2019 | PDEC vs PJAN | |
| Innovator U.S. Equity Accelerated Plus ETF | Leveraged Equities | 98 | 12.05% | 22.82M | Apr 2021 | PDEC vs XTAP | |
| Innovator U.S. Equity Buffer ETF - April | Defined Outcome | 97 | 11.46% | 404.39M | Mar 2019 | PDEC vs BAPR | |
| Innovator U.S. Equity Power Buffer ETF - July | Defined Outcome | 87 | 5.51% | 1.12B | Aug 2018 | PDEC vs PJUL | |
| Innovator Nasdaq-100 Managed Floor ETF | Nasdaq-100, Options Trading | 56 | 5.37% | 543.68M | Jan 2024 | PDEC vs QFLR |
Often Compared With PDEC
Investors most often compare PDEC with BDEC, JEPI, IAPR. These 20 comparison targets span 5 categories, based on PortfoliosLab usage data.
Compare PDEC with Any Fund or Stock
Compare PDEC with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair PDEC with funds that move differently
Innovator U.S. Equity Power Buffer ETF - December alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to PDEC.
Explore PDEC Diversifiers