Innovator Power Buffer Step-Up Strategy ETF (PSTP) 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 PSTP. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to PSTP
PSTP charges 0.89% annually. There are 269 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 | PSTP vs JANB | |
| Aptus October Buffer ETF | 0.25% | — | Oct 2025 | PSTP vs OCTB | |
| Aptus July Buffer ETF | 0.25% | — | Oct 2025 | PSTP vs JULB | |
| Aptus April Buffer ETF | 0.25% | — | Oct 2025 | PSTP vs APRB | |
| Fidelity Dynamic Buffered Equity ETF | 0.48% | — | Apr 2024 | PSTP vs FBUF |
Best Risk-Adjusted Alternatives to PSTP
PSTP has a PortfoliosLab risk / return rank of 59. There are 205 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 | PSTP vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 98 | 21.00M | Apr 2025 | PSTP vs CPSP | |
| iShares Large Cap Max Buffer Mar ETF | 98 | — | Mar 2025 | PSTP vs MMAX | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | 98 | — | Apr 2025 | PSTP vs ZAPR | |
| Calamos Russell 2000 Structured Alt Protection ETF... | 98 | 13.20M | Apr 2025 | PSTP vs CPRA |
Top Performing PSTP Alternatives (YTD)
PSTP is at 4.51% YTD. There are 180 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 | PSTP vs NVDO | |
| ProShares Nasdaq-100 Dynamic Daily Buffer ETF | 13.84% | 2.87M | Jun 2025 | PSTP vs QB | |
| Innovator U.S. Small Cap Power Buffer ETF - Februa... | 13.73% | — | Jan 2025 | PSTP vs KFEB | |
| Innovator Russell 2000 Power Buffer ETF - April | 13.09% | 214.27M | Mar 2020 | PSTP vs KAPR | |
| FT Cboe Vest Nasdaq-100 Buffer ETF - March | 11.91% | 566.25M | Mar 2021 | PSTP vs QMAR |
Lowest Volatility Alternatives to PSTP
PSTP has 6.70% 1-year volatility. There are 169 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 | PSTP vs PMAP | |
| FT Vest U.S. Equity Max Buffer ETF - April | 1.33% | — | Apr 2025 | PSTP vs APXM | |
| PGIM S&P 500 Max Buffer ETF - May | 1.40% | — | Apr 2025 | PSTP vs PMMY | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 1.40% | 21.00M | Apr 2025 | PSTP vs CPSP | |
| iShares Large Cap Max Buffer Mar ETF | 1.44% | — | Mar 2025 | PSTP vs MMAX |
Lowest Drawdown Alternatives to PSTP
PSTP has a 1-year max drawdown of -5.11%. There are 166 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 | PSTP vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | -0.37% | 21.00M | Apr 2025 | PSTP vs CPSP | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | -0.40% | — | Apr 2025 | PSTP vs ZAPR | |
| iShares Large Cap Max Buffer Mar ETF | -0.46% | — | Mar 2025 | PSTP vs MMAX | |
| Calamos S&P 500 Structured Alt Protection ETF - Ma... | -0.49% | 56.60M | May 2024 | PSTP 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 | 2.78% | 2.72B | Jun 2021 | PSTP vs BALT | |
| Innovator Laddered Allocation Power Buffer ETF | Defined Outcome | 89 | 6.26% | 923.55M | Oct 2016 | PSTP vs BUFF | |
| Innovator Equity Managed Floor ETF | Options Trading | 50 | 4.20% | 2.11B | Nov 2022 | PSTP vs SFLR | |
| Innovator Deepwater Frontier Tech ETF | Technology Equities | 42 | 11.39% | 200.31M | Jul 2018 | PSTP vs LOUP | |
| Innovator U.S. Equity Accelerated Plus ETF | Leveraged Equities | 98 | 12.47% | 22.69M | Apr 2021 | PSTP vs XTAP | |
| Innovator U.S. Equity Power Buffer ETF - January | Defined Outcome | 84 | 6.02% | 1.44B | Jan 2019 | PSTP vs PJAN | |
| Innovator U.S. Equity Buffer ETF - April | Defined Outcome | 97 | 11.91% | 403.09M | Mar 2019 | PSTP vs BAPR | |
| Innovator Nasdaq-100 Managed Floor ETF | Nasdaq-100, Options Trading | 40 | 1.93% | 524.31M | Jan 2024 | PSTP vs QFLR | |
| Innovator U.S. Equity Power Buffer ETF - July | Defined Outcome | 87 | 5.43% | 1.25B | Aug 2018 | PSTP vs PJUL | |
| Innovator U.S. Equity Power Buffer ETF October | Defined Outcome | 82 | 6.44% | 963.46M | Sep 2018 | PSTP vs POCT |
Often Compared With PSTP
Investors most often compare PSTP with PBFR, DBO, IBIC. These 20 comparison targets span 8 categories, based on PortfoliosLab usage data.
Compare PSTP with Any Fund or Stock
Compare PSTP with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair PSTP with funds that move differently
Innovator Power Buffer Step-Up Strategy ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to PSTP.
Explore PSTP Diversifiers