BSTP vs. HOCT

Last updated Jun 4, 2026

BSTP (Innovator Buffer Step-Up Strategy ETF) and HOCT (Innovator Premium Income 9 Buffer ETF - October) are both Options Trading funds from Innovator. BSTP is passively managed, while HOCT is actively managed. BSTP charges 0.89%/yr vs 0.79%/yr for HOCT.

Performance

BSTP vs. HOCT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Buffer Step-Up Strategy ETF (BSTP) and Innovator Premium Income 9 Buffer ETF - October (HOCT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BSTP

• 1D: -0.32%
• 1M: 3.05%
• YTD: 6.07%
• 6M: 6.56%
• 1Y: 16.71%
• 3Y*: 14.35%
• 5Y*: —
• 10Y*: —

HOCT

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BSTP vs. HOCT - Yearly Performance Comparison

	2026 (YTD)
BSTP Innovator Buffer Step-Up Strategy ETF	4.99%
HOCT Innovator Premium Income 9 Buffer ETF - October	0.00%

Return for Risk

BSTP vs. HOCT — Risk / Return Rank

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

BSTP

BSTP Risk / Return Rank: 65
BSTP Sharpe Ratio Rank: 63
BSTP Sortino Ratio Rank: 65
BSTP Omega Ratio Rank: 69
BSTP Calmar Ratio Rank: 55
BSTP Martin Ratio Rank: 71

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.

BSTP vs. HOCT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Buffer Step-Up Strategy ETF (BSTP) and Innovator Premium Income 9 Buffer ETF - October (HOCT). 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.

	BSTP	HOCT	Difference
Sharpe ratio: Return per unit of total volatility	2.12	—	—
Sortino ratio: Return per unit of downside risk	3.01	—	—
Omega ratio: Gain probability vs. loss probability	1.41	—	—
Calmar ratio: Return relative to maximum drawdown	2.69	—	—
Martin ratio: Return relative to average drawdown	13.18	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	BSTP	HOCT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.12	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.91	—	—

Drawdowns

BSTP vs. HOCT - Drawdown Comparison

The maximum BSTP drawdown since its inception was -16.69%, which is greater than HOCT's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for BSTP and HOCT.

Drawdown Indicators

	BSTP	HOCT	Difference
Max Drawdown Largest peak-to-trough decline	-16.69%	0.00%	-16.69%
Max Drawdown (1Y) Largest decline over 1 year	-6.23%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-13.69%	—	—
Current Drawdown Current decline from peak	-0.32%	0.00%	-0.32%
Average Drawdown Average peak-to-trough decline	-3.52%	0.00%	-3.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.27%	—	—

Volatility

Volatility by Period

	BSTP	HOCT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.52%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.15%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	7.93%	0.00%	+7.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.11%	0.00%	+12.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.11%	0.00%	+12.11%

BSTP vs. HOCT - Expense Ratio Comparison

BSTP has a 0.89% expense ratio, which is higher than HOCT's 0.79% expense ratio.

Dividends

BSTP vs. HOCT - Dividend Comparison

Neither BSTP nor HOCT has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Which ETF is better, BSTP or HOCT?

On fees, HOCT is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BSTP or HOCT?

HOCT is cheaper with a 0.79% expense ratio, compared with 0.89% for BSTP.

Which ETF pays a higher dividend yield, BSTP or HOCT?

BSTP and HOCT have nearly identical dividend yields, around 0.00%.

What is the main difference between BSTP and HOCT?

Their fees differ too: 0.89% for BSTP and 0.79% for HOCT.