Innovator U.S. Equity Power Buffer ETF - February (PFEB) 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 PFEB. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to PFEB
PFEB charges 0.79% annually. There are 94 ETFs in the Defined Outcome category with lower expense ratios, going as low as 0.25%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Aptus January Buffer ETF | 0.25% | — | Oct 2025 | PFEB vs JANB | |
| Aptus April Buffer ETF | 0.25% | — | Oct 2025 | PFEB vs APRB | |
| Aptus July Buffer ETF | 0.25% | — | Oct 2025 | PFEB vs JULB | |
| Aptus October Buffer ETF | 0.25% | — | Oct 2025 | PFEB vs OCTB | |
| Fidelity Dynamic Buffered Equity ETF | 0.48% | — | Apr 2024 | PFEB vs FBUF |
Best Risk-Adjusted Alternatives to PFEB
PFEB has a PortfoliosLab risk / return rank of 88. There are 132 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 | PFEB vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 98 | 21.00M | Apr 2025 | PFEB vs CPSP | |
| iShares Large Cap Max Buffer Mar ETF | 98 | — | Mar 2025 | PFEB vs MMAX | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | 98 | — | Apr 2025 | PFEB vs ZAPR | |
| Calamos Russell 2000 Structured Alt Protection ETF... | 98 | 13.20M | Apr 2025 | PFEB vs CPRA |
Top Performing PFEB Alternatives (YTD)
PFEB is at 6.90% YTD. There are 125 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 | PFEB vs NVDO | |
| ProShares Nasdaq-100 Dynamic Daily Buffer ETF | 14.64% | 2.87M | Jun 2025 | PFEB vs QB | |
| Innovator U.S. Small Cap Power Buffer ETF - Februa... | 14.50% | — | Jan 2025 | PFEB vs KFEB | |
| Innovator Russell 2000 Power Buffer ETF - April | 13.86% | 214.27M | Mar 2020 | PFEB vs KAPR | |
| Innovator U.S. Small Cap Power Buffer ETF - March | 12.74% | — | Feb 2025 | PFEB vs KMAR |
Lowest Volatility Alternatives to PFEB
PFEB has 6.00% 1-year volatility. There are 141 ETFs in the Defined Outcome category with lower 1-year volatility, going as low as 1.18%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | 1.18% | — | Mar 2025 | PFEB vs PMAP | |
| FT Vest U.S. Equity Max Buffer ETF - April | 1.34% | — | Apr 2025 | PFEB vs APXM | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 1.40% | 21.00M | Apr 2025 | PFEB vs CPSP | |
| PGIM S&P 500 Max Buffer ETF - May | 1.40% | — | Apr 2025 | PFEB vs PMMY | |
| iShares Large Cap Max Buffer Mar ETF | 1.44% | — | Mar 2025 | PFEB vs MMAX |
Lowest Drawdown Alternatives to PFEB
PFEB has a 1-year max drawdown of -4.71%. There are 152 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 | PFEB vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | -0.37% | 21.00M | Apr 2025 | PFEB vs CPSP | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | -0.40% | — | Apr 2025 | PFEB vs ZAPR | |
| iShares Large Cap Max Buffer Mar ETF | -0.46% | — | Mar 2025 | PFEB vs MMAX | |
| Calamos S&P 500 Structured Alt Protection ETF - Ma... | -0.49% | 56.60M | May 2024 | PFEB vs CPSM |
Other ETFs from Innovator
The 10 most viewed Innovator ETFs shown here include BALT, BUFF, SFLR and span 5 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 | 3.07% | 2.72B | Jun 2021 | PFEB vs BALT | |
| Innovator Laddered Allocation Power Buffer ETF | Defined Outcome | 91 | 6.78% | 923.55M | Oct 2016 | PFEB vs BUFF | |
| Innovator Equity Managed Floor ETF | Options Trading | 60 | 5.24% | 2.11B | Nov 2022 | PFEB vs SFLR | |
| Innovator Deepwater Frontier Tech ETF | Technology Equities | 51 | 15.52% | 200.31M | Jul 2018 | PFEB vs LOUP | |
| Innovator U.S. Equity Accelerated Plus ETF | Leveraged Equities | 98 | 12.91% | 22.69M | Apr 2021 | PFEB vs XTAP | |
| Innovator U.S. Equity Power Buffer ETF - January | Defined Outcome | 88 | 6.55% | 1.44B | Jan 2019 | PFEB vs PJAN | |
| Innovator U.S. Equity Buffer ETF - April | Defined Outcome | 97 | 12.27% | 403.09M | Mar 2019 | PFEB vs BAPR | |
| Innovator U.S. Equity Power Buffer ETF October | Defined Outcome | 85 | 6.88% | 963.46M | Sep 2018 | PFEB vs POCT | |
| Innovator U.S. Equity Power Buffer ETF - July | Defined Outcome | 90 | 6.18% | 1.25B | Aug 2018 | PFEB vs PJUL | |
| Innovator Nasdaq-100 Managed Floor ETF | Nasdaq-100, Options Trading | 48 | 3.44% | 524.31M | Jan 2024 | PFEB vs QFLR |
Often Compared With PFEB
Investors most often compare PFEB with JEPI, RPXIX, BJAN. These 20 comparison targets span 7 categories, based on PortfoliosLab usage data.
Compare PFEB with Any Fund or Stock
Compare PFEB with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair PFEB with funds that move differently
Innovator U.S. Equity Power Buffer ETF - February alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to PFEB.
Explore PFEB Diversifiers