BOCT vs. SVOL

Last updated Jun 3, 2026

BOCT (Innovator U.S. Equity Buffer ETF October) and SVOL (Simplify Volatility Premium ETF) are both exchange-traded funds - BOCT is a Defined Outcome fund tracking the S&P 500 Price Return Index, while SVOL is a Volatility fund actively managed by Simplify. BOCT is passively managed, while SVOL is actively managed. Over the past 5 years, BOCT returned 10.67%/yr vs 6.97%/yr for SVOL. A 0.72 correlation means they provide meaningful diversification when combined. BOCT charges 0.79%/yr vs 0.50%/yr for SVOL.

Performance

BOCT vs. SVOL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Buffer ETF October (BOCT) and Simplify Volatility Premium ETF (SVOL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BOCT achieves a 7.34% return, which is significantly higher than SVOL's -0.28% return.

BOCT

• 1D: 0.04%
• 1M: 2.79%
• YTD: 7.34%
• 6M: 8.06%
• 1Y: 20.96%
• 3Y*: 14.64%
• 5Y*: 10.67%
• 10Y*: —

SVOL

• 1D: 0.19%
• 1M: 2.92%
• YTD: -0.28%
• 6M: 1.65%
• 1Y: 12.78%
• 3Y*: 6.62%
• 5Y*: 6.97%
• 10Y*: —

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

BOCT vs. SVOL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BOCT Innovator U.S. Equity Buffer ETF October	7.34%	14.34%	12.36%	21.13%	-8.14%	9.51%
SVOL Simplify Volatility Premium ETF	-0.28%	2.41%	6.77%	22.88%	-3.30%	12.25%

Correlation

The correlation between BOCT and SVOL is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (All Time) Calculated using the full available price history since May 14, 2021	0.72

The correlation between BOCT and SVOL has been stable across timeframes, ranging from 0.72 to 0.79 - a consistent structural relationship.

BOCT vs. SVOL - Sectors Allocation Comparison

Sectors	BOCT	SVOL
Technology	36.2%	31.9%
Financial Services	11.9%	11.4%
Communication Services	10.9%	7.4%
Consumer Cyclical	10.1%	9.4%
Healthcare	8.4%	11.0%
Industrials	8.1%	11.4%
Consumer Defensive	4.9%	5.1%
Energy	3.5%	4.8%
Utilities	2.3%	2.3%
Real Estate	1.9%	2.8%
Basic Materials	1.8%	2.5%

Return for Risk

BOCT vs. SVOL — Risk / Return Rank

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

BOCT

BOCT Risk / Return Rank: 78
BOCT Sharpe Ratio Rank: 78
BOCT Sortino Ratio Rank: 79
BOCT Omega Ratio Rank: 82
BOCT Calmar Ratio Rank: 68
BOCT Martin Ratio Rank: 82

SVOL

SVOL Risk / Return Rank: 20
SVOL Sharpe Ratio Rank: 19
SVOL Sortino Ratio Rank: 19
SVOL Omega Ratio Rank: 21
SVOL Calmar Ratio Rank: 21
SVOL Martin Ratio Rank: 19

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.

BOCT vs. SVOL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Buffer ETF October (BOCT) and Simplify Volatility Premium ETF (SVOL). 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.

	BOCT	SVOL	Difference
Sharpe ratio Return per unit of total volatility	2.57	0.61	+1.96
Sortino ratio Return per unit of downside risk	3.61	0.99	+2.62
Omega ratio Gain probability vs. loss probability	1.50	1.14	+0.36
Calmar ratio Return relative to maximum drawdown	3.49	0.95	+2.54
Martin ratio Return relative to average drawdown	16.80	2.25	+14.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BOCT vs. SVOL - Sharpe Ratio Comparison

The current BOCT Sharpe Ratio is 2.57, which is higher than the SVOL Sharpe Ratio of 0.61. The chart below compares the historical Sharpe Ratios of BOCT and SVOL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BOCT	SVOL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.57	0.61	+1.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.97	0.32	+0.65
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	0.35	+0.42

Drawdowns

BOCT vs. SVOL - Drawdown Comparison

The maximum BOCT drawdown since its inception was -24.54%, smaller than the maximum SVOL drawdown of -33.50%. Use the drawdown chart below to compare losses from any high point for BOCT and SVOL.

Drawdown Indicators

	BOCT	SVOL	Difference
Max Drawdown Largest peak-to-trough decline	-24.54%	-33.50%	+8.96%
Max Drawdown (1Y) Largest decline over 1 year	-6.09%	-13.01%	+6.92%
Max Drawdown (3Y) Largest decline over 3 years	-13.61%	-33.50%	+19.89%
Max Drawdown (5Y) Largest decline over 5 years	-14.29%	-33.50%	+19.21%
Current Drawdown Current decline from peak	0.00%	-2.86%	+2.86%
Average Drawdown Average peak-to-trough decline	-2.60%	-4.77%	+2.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.26%	5.48%	-4.22%

Volatility

BOCT vs. SVOL - Volatility Comparison

Innovator U.S. Equity Buffer ETF October (BOCT) and Simplify Volatility Premium ETF (SVOL) have volatilities of 1.37% and 1.43%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BOCT	SVOL	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.37%	1.43%	-0.06%
Volatility (6M) Calculated over the trailing 6-month period	6.12%	9.57%	-3.45%
Volatility (1Y) Calculated over the trailing 1-year period	8.18%	20.91%	-12.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.09%	21.99%	-10.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.83%	21.93%	-8.10%

BOCT vs. SVOL - Expense Ratio Comparison

BOCT has a 0.79% expense ratio, which is higher than SVOL's 0.50% expense ratio.

Dividends

BOCT vs. SVOL - Dividend Comparison

BOCT has not paid dividends to shareholders, while SVOL's dividend yield for the trailing twelve months is around 22.07%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BOCT Innovator U.S. Equity Buffer ETF October	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.20%
SVOL Simplify Volatility Premium ETF	22.07%	19.82%	16.79%	16.36%	18.32%	4.65%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BOCT and SVOL in my portfolio?

BOCT and SVOL have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BOCT or SVOL?

SVOL has higher volatility (1.43%) compared to BOCT (1.37%). In terms of maximum drawdown, BOCT dropped -24.54% vs SVOL's -33.50%.

Which ETF is better, BOCT or SVOL?

On 5-year performance, BOCT leads with 10.67% vs 6.97% for SVOL. On fees, SVOL is cheaper at 0.50% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BOCT or SVOL?

Over the 5-year period, BOCT has performed better with a 10.67% return vs 6.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BOCT or SVOL?

SVOL is cheaper with a 0.50% expense ratio, compared with 0.79% for BOCT.

Which ETF pays a higher dividend yield, BOCT or SVOL?

SVOL has the higher dividend yield at 22.07%, compared with 0.00% for BOCT.

What is the main difference between BOCT and SVOL?

BOCT is categorized as Defined Outcome, while SVOL is Volatility. They also come from different issuers: Innovator and Simplify. Their fees differ too: 0.79% for BOCT and 0.50% for SVOL.

Which has better risk-adjusted returns?

BOCT currently has the higher Sharpe Ratio (2.57 vs 0.61), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.