DAUG vs. UAPR

Last updated Aug 2, 2026

DAUG (FT Vest U.S. Equity Deep Buffer ETF - August) and UAPR (Innovator U.S. Equity Ultra Buffer ETF - April) are both Defined Outcome funds tracking the S&P 500, from FT Vest and Innovator respectively. Both are passively managed. Over the past 5 years, DAUG returned 6.54%/yr vs 6.52%/yr for UAPR. Their correlation of 0.81 means they have usually moved in the same direction. DAUG charges 0.85%/yr vs 0.79%/yr for UAPR.

Performance

DAUG vs. UAPR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Equity Deep Buffer ETF - August (DAUG) and Innovator U.S. Equity Ultra Buffer ETF - April (UAPR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DAUG achieves a 6.63% return, which is significantly lower than UAPR's 7.87% return.

DAUG

• 1D: 0.29%
• 1M: 0.95%
• 6M: 5.81%
• YTD: 6.63%
• 1Y: 12.27%
• 3Y*: 10.67%
• 5Y*: 6.54%
• 10Y*: —
• ALL TIME*: 6.91%

UAPR

• 1D: 0.27%
• 1M: 0.51%
• 6M: 7.19%
• YTD: 7.87%
• 1Y: 12.38%
• 3Y*: 10.27%
• 5Y*: 6.52%
• 10Y*: —
• ALL TIME*: 4.98%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DAUG FT Vest U.S. Equity Deep Buffer ETF - August	$245.93K	$215.56K	$296.36K
UAPR Innovator U.S. Equity Ultra Buffer ETF - April	$236.95K	$272.56K	$296.66K

DAUG vs. UAPR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
DAUG FT Vest U.S. Equity Deep Buffer ETF - August	6.63%	11.75%	12.00%	13.85%	-11.95%	6.71%	8.01%	1.63%
UAPR Innovator U.S. Equity Ultra Buffer ETF - April	7.87%	6.27%	12.38%	10.60%	-5.67%	5.32%	-5.05%	1.96%

Correlation

The correlation between DAUG and UAPR is 0.86, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.86
Correlation (3Y) Balances recent behavior with more history.	0.86
Correlation (5Y) Shows whether the relationship held over a longer period.	0.85
Correlation (All Time) Calculated using the full available price history since Nov 7, 2019	0.81

The correlation between DAUG and UAPR has been stable across timeframes, ranging from 0.81 to 0.86 - a consistent structural relationship.

DAUG vs. UAPR - Sectors Allocation Comparison

Sectors	DAUG	UAPR
Technology	37.9%	39.1%
Financial Services	11.7%	10.9%
Communication Services	10.0%	10.7%
Consumer Cyclical	9.6%	9.9%
Healthcare	9.1%	8.3%
Industrials	8.4%	7.8%
Consumer Defensive	4.6%	4.5%
Energy	3.0%	3.1%
Utilities	2.3%	2.1%
Real Estate	1.9%	1.8%
Basic Materials	1.7%	1.7%

Return for Risk

DAUG vs. UAPR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DAUG

DAUG Risk / Return Rank: 86
DAUG Sharpe Ratio Rank: 87
DAUG Sortino Ratio Rank: 89
DAUG Omega Ratio Rank: 89
DAUG Calmar Ratio Rank: 76
DAUG Martin Ratio Rank: 89

UAPR

UAPR Risk / Return Rank: 98
UAPR Sharpe Ratio Rank: 97
UAPR Sortino Ratio Rank: 98
UAPR Omega Ratio Rank: 97
UAPR Calmar Ratio Rank: 98
UAPR Martin Ratio Rank: 98

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DAUG vs. UAPR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Deep Buffer ETF - August (DAUG) and Innovator U.S. Equity Ultra Buffer ETF - April (UAPR). 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.

	DAUG	UAPR	Difference
Sharpe ratio: Return per unit of total volatility	2.09	3.58	-1.49
Sortino ratio: Return per unit of downside risk	3.05	5.86	-2.82
Omega ratio: Gain probability vs. loss probability	1.41	1.80	-0.39
Calmar ratio: Return relative to maximum drawdown	2.66	10.78	-8.12
Martin ratio: Return relative to average drawdown	13.98	49.96	-35.97

DAUG vs. UAPR - Sharpe Ratio Comparison

The current DAUG Sharpe Ratio is 2.09, which is lower than the UAPR Sharpe Ratio of 3.58. The chart below compares the historical Sharpe Ratios of DAUG and UAPR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DAUG vs. UAPR - Drawdown Comparison

The maximum DAUG drawdown since its inception was -15.34%, roughly equal to the maximum UAPR drawdown of -14.61%. Use the drawdown chart below to compare losses from any high point for DAUG and UAPR.

Drawdown Indicators

	DAUG	UAPR	Difference
Max Drawdown Largest peak-to-trough decline	-15.34%	-14.61%	-0.73%
Max Drawdown (1Y) Largest decline over 1 year	-4.37%	-1.11%	-3.26%
Max Drawdown (3Y) Largest decline over 3 years	-10.53%	-10.84%	+0.31%
Max Drawdown (5Y) Largest decline over 5 years	-15.34%	-10.84%	-4.50%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.76%	-3.25%	+0.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.83%	0.24%	+0.59%

Volatility

DAUG vs. UAPR - Volatility Comparison

FT Vest U.S. Equity Deep Buffer ETF - August (DAUG) has a higher volatility of 1.02% compared to Innovator U.S. Equity Ultra Buffer ETF - April (UAPR) at 0.95%. This indicates that DAUG's price experiences larger fluctuations and is considered to be riskier than UAPR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DAUG	UAPR	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.02%	0.95%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	4.44%	2.70%	+1.74%
Volatility (1Y) Calculated over the trailing 1-year period	5.58%	3.35%	+2.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.08%	6.90%	+1.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.19%	8.35%	+0.84%

DAUG vs. UAPR - Expense Ratio Comparison

DAUG has a 0.85% expense ratio, which is higher than UAPR's 0.79% expense ratio.

Dividends

DAUG vs. UAPR - Dividend Comparison

Neither DAUG nor UAPR has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
DAUG FT Vest U.S. Equity Deep Buffer ETF - August	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UAPR Innovator U.S. Equity Ultra Buffer ETF - April	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.17%

Frequently Asked Questions

Can I hold both DAUG and UAPR in my portfolio?

DAUG and UAPR have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DAUG or UAPR?

DAUG has higher volatility (1.02%) compared to UAPR (0.95%). In terms of maximum drawdown, DAUG dropped -15.34% vs UAPR's -14.61%.

Which ETF is better, DAUG or UAPR?

On 5-year performance, DAUG leads with 6.54% vs 6.52% for UAPR. On fees, UAPR is cheaper at 0.79% 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, DAUG or UAPR?

Over the 5-year period, DAUG has performed better with a 6.54% return vs 6.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DAUG or UAPR?

UAPR is cheaper with a 0.79% expense ratio, compared with 0.85% for DAUG.

Which ETF pays a higher dividend yield, DAUG or UAPR?

DAUG and UAPR have nearly identical dividend yields, around 0.00%.

What is the main difference between DAUG and UAPR?

Both ETFs track S&P 500. They also come from different issuers: FT Vest and Innovator. Their fees differ too: 0.85% for DAUG and 0.79% for UAPR.

Which has better risk-adjusted returns?

UAPR currently has the higher Sharpe Ratio (3.58 vs 2.09), 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.