ACII vs. PJUL

Last updated Jun 4, 2026

ACII (Innovator Index Autocallable Income Strategy ETF) and PJUL (Innovator U.S. Equity Power Buffer ETF - July) are both exchange-traded funds - ACII is a Derivative Income fund actively managed by Innovator, while PJUL is a Defined Outcome fund tracking the Cboe S&P 500 Buffer Protect Index July. ACII is actively managed, while PJUL is passively managed. At a correlation of -0.60, they often move in opposite directions. Both charge a 0.79% expense ratio.

Performance

ACII vs. PJUL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Index Autocallable Income Strategy ETF (ACII) and Innovator U.S. Equity Power Buffer ETF - July (PJUL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ACII

• 1D: -0.95%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PJUL

• 1D: 0.10%
• 1M: 1.44%
• YTD: 4.74%
• 6M: 5.40%
• 1Y: 15.32%
• 3Y*: 13.95%
• 5Y*: 10.49%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ACII vs. PJUL - Yearly Performance Comparison

	2026 (YTD)
ACII Innovator Index Autocallable Income Strategy ETF	-1.10%
PJUL Innovator U.S. Equity Power Buffer ETF - July	0.25%

Correlation

The correlation between ACII and PJUL is -0.60, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 29, 2026	-0.60

Return for Risk

ACII vs. PJUL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PJUL

PJUL Risk / Return Rank: 87
PJUL Sharpe Ratio Rank: 83
PJUL Sortino Ratio Rank: 89
PJUL Omega Ratio Rank: 90
PJUL Calmar Ratio Rank: 81
PJUL Martin Ratio Rank: 92

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ACII vs. PJUL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Index Autocallable Income Strategy ETF (ACII) and Innovator U.S. Equity Power Buffer ETF - July (PJUL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	ACII	PJUL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.73	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.23	—
Sharpe Ratio (All Time) Calculated using the full available price history	-7.55	0.90	-8.45

Drawdowns

ACII vs. PJUL - Drawdown Comparison

The maximum ACII drawdown since its inception was -1.27%, smaller than the maximum PJUL drawdown of -18.17%. Use the drawdown chart below to compare losses from any high point for ACII and PJUL.

Drawdown Indicators

	ACII	PJUL	Difference
Max Drawdown Largest peak-to-trough decline	-1.27%	-18.17%	+16.90%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.64%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-10.69%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-10.69%	—
Current Drawdown Current decline from peak	-1.27%	0.00%	-1.27%
Average Drawdown Average peak-to-trough decline	-0.42%	-1.47%	+1.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.66%	—

Volatility

Volatility by Period

	ACII	PJUL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.42%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.89%	—
Volatility (1Y) Calculated over the trailing 1-year period	7.65%	5.66%	+1.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.65%	8.60%	-0.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.65%	10.03%	-2.38%

ACII vs. PJUL - Expense Ratio Comparison

Both ACII and PJUL have an expense ratio of 0.79%.

Dividends

ACII vs. PJUL - Dividend Comparison

ACII's dividend yield for the trailing twelve months is around 0.74%, while PJUL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
ACII Innovator Index Autocallable Income Strategy ETF	0.74%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PJUL Innovator U.S. Equity Power Buffer ETF - July	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.82%

Frequently Asked Questions

Can I hold both ACII and PJUL in my portfolio?

ACII and PJUL have a correlation of -0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ACII or PJUL?

Both ETFs have the same 0.79% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ACII or PJUL?

ACII and PJUL have the same expense ratio: 0.79% per year.

Which ETF pays a higher dividend yield, ACII or PJUL?

ACII has the higher dividend yield at 0.74%, compared with 0.00% for PJUL.

What is the main difference between ACII and PJUL?

ACII is categorized as Derivative Income, while PJUL is Defined Outcome.