Innovator Equity Premium Income Daily PutWrite ETF (SPUT) belongs to the Derivative Income category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with SPUT. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to SPUT
SPUT charges 0.79% annually. There are 99 ETFs in the Derivative Income category with lower expense ratios, going as low as 0.10%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Parametric Equity Plus ETF | 0.10% | 27.32M | Nov 2024 | SPUT vs PEPS | |
| iShares S&P 500 BuyWrite ETF | 0.25% | 303.13M | Mar 2024 | SPUT vs IVVW | |
| State Street US Equity Premium Income ETF | 0.25% | 45.59M | Sep 2024 | SPUT vs SPIN | |
| Fidelity Yield Enhanced Equity ETF | 0.28% | 185.18M | Apr 2024 | SPUT vs FYEE | |
| Goldman Sachs S&P 500 Premium Income ETF | 0.29% | 4.27B | Oct 2023 | SPUT vs GPIX |
Best Risk-Adjusted Alternatives to SPUT
SPUT has a PortfoliosLab risk / return rank of 70. There are 24 ETFs in the Derivative Income category with higher risk-adjusted ranks, going as high as 95.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| YieldMax Semiconductor Portfolio Option Income ETF | 95 | 1.16B | Apr 2025 | SPUT vs CHPY | |
| SoFi Enhanced Yield ETF | 94 | 34.73M | Nov 2023 | SPUT vs THTA | |
| YieldMax GOOGL Option Income Strategy ETF | 92 | 262.22M | Jul 2023 | SPUT vs GOOY | |
| YieldMax AMD Option Income Strategy ETF | 90 | 409.32M | Sep 2023 | SPUT vs AMDY | |
| Simplify Treasury Option Income ETF | 86 | 465.86M | Oct 2022 | SPUT vs BUCK |
Top Performing SPUT Alternatives (YTD)
SPUT is at 4.74% YTD. There are 113 ETFs in the Derivative Income category with higher YTD returns, going as high as 19,132.59%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| REX HOOD Growth & Income ETF | 19,132.59% | 1.44M | Nov 2025 | SPUT vs HOII | |
| REX CRWV Growth & Income ETF | 13,199.78% | 2.19M | Nov 2025 | SPUT vs CWII | |
| Roundhill ARM WeeklyPay ETF | 297.09% | 17.52M | Oct 2025 | SPUT vs ARMW | |
| Roundhill AMD WeeklyPay ETF | 176.01% | 83.00M | Jul 2025 | SPUT vs AMDW | |
| YieldMax AMD Option Income Strategy ETF | 101.34% | 409.32M | Sep 2023 | SPUT vs AMDY |
Lowest Volatility Alternatives to SPUT
SPUT has 7.76% 1-year volatility. There are 15 ETFs in the Derivative Income category with lower 1-year volatility, going as low as 2.98%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Simplify Treasury Option Income ETF | 2.98% | 465.86M | Oct 2022 | SPUT vs BUCK | |
| FT Vest High Yield & Target Income ETF | 3.86% | 90.05M | Feb 2025 | SPUT vs HYTI | |
| Main Buywrite ETF | 4.84% | 1.23B | Dec 2015 | SPUT vs BUYW | |
| FT Vest Investment Grade & Target Income ETF | 5.11% | 292.66M | Feb 2025 | SPUT vs LQTI | |
| Global X S&P 500 Risk Managed Income ETF | 5.52% | 50.16M | Aug 2021 | SPUT vs XRMI |
Lowest Drawdown Alternatives to SPUT
SPUT has a 1-year max drawdown of -3.81%. There are 7 ETFs in the Derivative Income category with shallower 1-year drawdowns, going as shallow as -1.31%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Simplify Treasury Option Income ETF | -1.31% | 465.86M | Oct 2022 | SPUT vs BUCK | |
| FT Vest High Yield & Target Income ETF | -2.38% | 90.05M | Feb 2025 | SPUT vs HYTI | |
| Main Buywrite ETF | -2.59% | 1.23B | Dec 2015 | SPUT vs BUYW | |
| SoFi Enhanced Yield ETF | -2.64% | 34.73M | Nov 2023 | SPUT vs THTA | |
| VistaShares Target 15™ Berkshire Select Income ETF | -3.00% | 774.36M | Mar 2025 | SPUT vs OMAH |
Other ETFs from Innovator
The 10 most viewed Innovator ETFs shown here include BALT, FFTY, BUFF 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 | 94 | 2.21% | 2.53B | Jun 2021 | SPUT vs BALT | |
| Innovator IBD 50 ETF | Large Cap Growth Equities | 30 | 20.94% | 89.40M | Apr 2015 | SPUT vs FFTY | |
| Innovator Laddered Allocation Power Buffer ETF | Defined Outcome | 85 | 4.91% | 869.51M | Oct 2016 | SPUT vs BUFF | |
| Innovator Equity Managed Floor ETF | Options Trading | 49 | 3.43% | 2.04B | Nov 2022 | SPUT vs SFLR | |
| Innovator Deepwater Frontier Tech ETF | Technology Equities | 60 | 21.99% | 214.23M | Jul 2018 | SPUT vs LOUP | |
| Innovator U.S. Equity Power Buffer ETF - January | Defined Outcome | 77 | 4.57% | 1.48B | Jan 2019 | SPUT vs PJAN | |
| Innovator U.S. Equity Buffer ETF - April | Defined Outcome | 96 | 10.04% | 404.13M | Mar 2019 | SPUT vs BAPR | |
| Innovator U.S. Equity Power Buffer ETF - July | Defined Outcome | 90 | 4.80% | 997.06M | Aug 2018 | SPUT vs PJUL | |
| Innovator Nasdaq-100 Managed Floor ETF | Nasdaq-100, Options Trading | 54 | 3.27% | 524.53M | Jan 2024 | SPUT vs QFLR | |
| Innovator U.S. Equity Power Buffer ETF October | Defined Outcome | 74 | 4.83% | 969.70M | Sep 2018 | SPUT vs POCT |
Often Compared With SPUT
Investors most often compare SPUT with JEPQ, WTPI, SBAR. These 20 comparison targets span 7 categories, based on PortfoliosLab usage data.
Compare SPUT with Any Fund or Stock
Compare SPUT with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair SPUT with funds that move differently
Innovator Equity Premium Income Daily PutWrite ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to SPUT.
Explore SPUT Diversifiers