BSEP vs. AIOO
BSEP (Innovator U.S. Equity Buffer ETF - September) and AIOO (AllianzIM U.S. Equity Buffer100 Protection ETF) are both Defined Outcome funds. BSEP is passively managed, while AIOO is actively managed. A 0.78 correlation means they provide meaningful diversification when combined. BSEP charges 0.79%/yr vs 0.64%/yr for AIOO.
Performance
BSEP vs. AIOO - Performance Comparison
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Returns By Period
In the year-to-date period, BSEP achieves a 6.18% return, which is significantly higher than AIOO's 2.13% return.
BSEP
- 1D
- -0.55%
- 1M
- 0.14%
- YTD
- 6.18%
- 6M
- 5.70%
- 1Y
- 18.44%
- 3Y*
- 15.76%
- 5Y*
- 10.46%
- 10Y*
- —
AIOO
- 1D
- -0.13%
- 1M
- 0.05%
- YTD
- 2.13%
- 6M
- 1.92%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BSEP vs. AIOO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BSEP Innovator U.S. Equity Buffer ETF - September | 6.18% | 9.05% |
AIOO AllianzIM U.S. Equity Buffer100 Protection ETF | 2.13% | 2.65% |
Correlation
The correlation between BSEP and AIOO is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jul 1, 2025 | 0.78 |
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Return for Risk
BSEP vs. AIOO — Risk / Return Rank
BSEP
AIOO
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BSEP vs. AIOO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Buffer ETF - September (BSEP) and AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BSEP | AIOO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.46 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.25 | — | — |
| Martin ratioReturn relative to average drawdown | 16.09 | — | — |
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Drawdowns
BSEP vs. AIOO - Drawdown Comparison
The maximum BSEP drawdown since its inception was -23.98%, which is greater than AIOO's maximum drawdown of -0.74%. Use the drawdown chart below to compare losses from any high point for BSEP and AIOO.
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Drawdown Indicators
| BSEP | AIOO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.98% | -0.74% | -23.24% |
Max Drawdown (1Y)Largest decline over 1 year | -5.70% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -13.36% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -15.02% | — | — |
Current DrawdownCurrent decline from peak | -0.80% | -0.34% | -0.46% |
Average DrawdownAverage peak-to-trough decline | -2.73% | -0.18% | -2.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.15% | — | — |
Volatility
BSEP vs. AIOO - Volatility Comparison
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Volatility by Period
| BSEP | AIOO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.96% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 5.99% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 7.83% | 2.06% | +5.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.64% | 2.06% | +9.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.73% | 2.06% | +11.67% |
BSEP vs. AIOO - Expense Ratio Comparison
BSEP has a 0.79% expense ratio, which is higher than AIOO's 0.64% expense ratio.
Dividends
BSEP vs. AIOO - Dividend Comparison
Neither BSEP nor AIOO has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
AIOO AllianzIM U.S. Equity Buffer100 Protection ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
BSEP Innovator U.S. Equity Buffer ETF - September | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.39% |
Frequently Asked Questions
BSEP and AIOO have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AIOO is cheaper at 0.64% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AIOO is cheaper with a 0.64% expense ratio, compared with 0.79% for BSEP.
BSEP and AIOO have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Innovator and Allianz. Their fees differ too: 0.79% for BSEP and 0.64% for AIOO.
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