EDGU vs. UNOV

Last updated Jun 25, 2026

EDGU (3EDGE Dynamic US Equity ETF) and UNOV (Innovator U.S. Equity Ultra Buffer ETF - November) are both Large Cap Blend Equities funds. EDGU is actively managed, while UNOV is passively managed. Over the past year, EDGU returned 22.63% vs 11.27% for UNOV. Their correlation of 0.87 suggests significant overlap in exposure. EDGU charges 0.91%/yr vs 0.79%/yr for UNOV.

Performance

EDGU vs. UNOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 3EDGE Dynamic US Equity ETF (EDGU) and Innovator U.S. Equity Ultra Buffer ETF - November (UNOV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EDGU achieves a 10.09% return, which is significantly higher than UNOV's 4.57% return.

EDGU

• 1D: -0.22%
• 1M: 0.23%
• YTD: 10.09%
• 6M: 8.59%
• 1Y: 22.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

UNOV

• 1D: -0.19%
• 1M: -0.29%
• YTD: 4.57%
• 6M: 4.19%
• 1Y: 11.27%
• 3Y*: 9.44%
• 5Y*: 6.41%
• 10Y*: —

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

EDGU vs. UNOV - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EDGU 3EDGE Dynamic US Equity ETF	10.09%	14.79%	0.34%
UNOV Innovator U.S. Equity Ultra Buffer ETF - November	4.57%	9.92%	2.17%

Correlation

The correlation between EDGU and UNOV is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (All Time) Calculated using the full available price history since Oct 3, 2024	0.87

The correlation between EDGU and UNOV has been stable across timeframes, ranging from 0.87 to 0.87 - a consistent structural relationship.

EDGU vs. UNOV - Sectors Allocation Comparison

Sectors	EDGU	UNOV
Technology	40.1%	38.4%
Consumer Cyclical	10.6%	10.0%
Communication Services	10.3%	10.8%
Financial Services	10.1%	11.0%
Industrials	7.3%	7.9%
Energy	5.9%	3.2%
Healthcare	5.9%	8.4%
Consumer Defensive	5.1%	4.6%
Basic Materials	2.0%	1.7%
Utilities	1.6%	2.1%
Real Estate	1.1%	1.8%

Return for Risk

EDGU vs. UNOV — Risk / Return Rank

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

EDGU

EDGU Risk / Return Rank: 66
EDGU Sharpe Ratio Rank: 63
EDGU Sortino Ratio Rank: 59
EDGU Omega Ratio Rank: 62
EDGU Calmar Ratio Rank: 73
EDGU Martin Ratio Rank: 73

UNOV

UNOV Risk / Return Rank: 70
UNOV Sharpe Ratio Rank: 70
UNOV Sortino Ratio Rank: 71
UNOV Omega Ratio Rank: 76
UNOV Calmar Ratio Rank: 58
UNOV Martin Ratio Rank: 73

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.

EDGU vs. UNOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 3EDGE Dynamic US Equity ETF (EDGU) and Innovator U.S. Equity Ultra Buffer ETF - November (UNOV). 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.

	EDGU	UNOV	Difference
Sharpe ratio: Return per unit of total volatility	1.81	1.97	-0.16
Sortino ratio: Return per unit of downside risk	2.43	2.82	-0.39
Omega ratio: Gain probability vs. loss probability	1.33	1.39	-0.07
Calmar ratio: Return relative to maximum drawdown	3.21	2.50	+0.71
Martin ratio: Return relative to average drawdown	11.85	11.94	-0.09

EDGU vs. UNOV - Sharpe Ratio Comparison

The current EDGU Sharpe Ratio is 1.81, which is comparable to the UNOV Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of EDGU and UNOV, 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

EDGU vs. UNOV - Drawdown Comparison

The maximum EDGU drawdown since its inception was -17.58%, which is greater than UNOV's maximum drawdown of -13.84%. Use the drawdown chart below to compare losses from any high point for EDGU and UNOV.

Drawdown Indicators

	EDGU	UNOV	Difference
Max Drawdown Largest peak-to-trough decline	-17.58%	-13.84%	-3.74%
Max Drawdown (1Y) Largest decline over 1 year	-7.08%	-4.52%	-2.56%
Max Drawdown (3Y) Largest decline over 3 years	—	-9.10%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-9.10%	—
Current Drawdown Current decline from peak	-2.64%	-1.02%	-1.62%
Average Drawdown Average peak-to-trough decline	-2.49%	-1.65%	-0.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	0.95%	+0.96%

Volatility

EDGU vs. UNOV - Volatility Comparison

3EDGE Dynamic US Equity ETF (EDGU) has a higher volatility of 5.56% compared to Innovator U.S. Equity Ultra Buffer ETF - November (UNOV) at 2.03%. This indicates that EDGU's price experiences larger fluctuations and is considered to be riskier than UNOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EDGU	UNOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.56%	2.03%	+3.53%
Volatility (6M) Calculated over the trailing 6-month period	9.82%	4.96%	+4.86%
Volatility (1Y) Calculated over the trailing 1-year period	12.60%	5.78%	+6.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.40%	6.88%	+8.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.40%	7.72%	+7.68%

EDGU vs. UNOV - Expense Ratio Comparison

EDGU has a 0.91% expense ratio, which is higher than UNOV's 0.79% expense ratio.

Dividends

EDGU vs. UNOV - Dividend Comparison

EDGU's dividend yield for the trailing twelve months is around 0.66%, while UNOV has not paid dividends to shareholders.

Position	TTM	2025	2024
EDGU 3EDGE Dynamic US Equity ETF	0.66%	0.61%	0.15%
UNOV Innovator U.S. Equity Ultra Buffer ETF - November	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EDGU and UNOV in my portfolio?

EDGU and UNOV have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EDGU or UNOV?

EDGU has higher volatility (5.56%) compared to UNOV (2.03%). In terms of maximum drawdown, EDGU dropped -17.58% vs UNOV's -13.84%.

Which ETF is better, EDGU or UNOV?

On 1-year performance, EDGU leads with 22.63% vs 11.27% for UNOV. On fees, UNOV is cheaper at 0.79% per year. On volatility, UNOV has been the lower-risk option at 2.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EDGU or UNOV?

Over the 1-year period, EDGU has performed better with a 22.63% return vs 11.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EDGU or UNOV?

UNOV is cheaper with a 0.79% expense ratio, compared with 0.91% for EDGU.

Which ETF pays a higher dividend yield, EDGU or UNOV?

EDGU has the higher dividend yield at 0.66%, compared with 0.00% for UNOV.

What is the main difference between EDGU and UNOV?

They also come from different issuers: 3EDGE Asset Management and Innovator. Their fees differ too: 0.91% for EDGU and 0.79% for UNOV.

Which has better risk-adjusted returns?

UNOV currently has the higher Sharpe Ratio (1.97 vs 1.81), 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.