EOCT vs. SWPPX

Last updated Jun 5, 2026

EOCT (Innovator Emerging Markets Power Buffer ETF - October) and SWPPX (Schwab S&P 500 Index Fund) are both funds - EOCT is a Options Trading fund actively managed by Innovator, while SWPPX is a Large Cap Blend Equities fund tracking the S&P 500 Index. EOCT is actively managed, while SWPPX is passively managed. Over the past 3 years, EOCT returned 13.41%/yr vs 22.42%/yr for SWPPX. A 0.65 correlation means they provide meaningful diversification when combined. EOCT charges 0.89%/yr vs 0.02%/yr for SWPPX.

Performance

EOCT vs. SWPPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Emerging Markets Power Buffer ETF - October (EOCT) and Schwab S&P 500 Index Fund (SWPPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EOCT achieves a 7.67% return, which is significantly lower than SWPPX's 10.83% return.

EOCT

• 1D: -0.03%
• 1M: 0.70%
• YTD: 7.67%
• 6M: 9.16%
• 1Y: 24.21%
• 3Y*: 13.41%
• 5Y*: —
• 10Y*: —

SWPPX

• 1D: -0.77%
• 1M: 4.12%
• YTD: 10.83%
• 6M: 10.73%
• 1Y: 27.97%
• 3Y*: 22.42%
• 5Y*: 13.88%
• 10Y*: 15.55%

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

EOCT vs. SWPPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
EOCT Innovator Emerging Markets Power Buffer ETF - October	7.67%	22.03%	9.66%	6.26%	-10.75%	-0.50%
SWPPX Schwab S&P 500 Index Fund	10.83%	17.87%	24.96%	26.26%	-18.14%	9.77%

Correlation

The correlation between EOCT and SWPPX is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (All Time) Calculated using the full available price history since Oct 4, 2021	0.65

The correlation between EOCT and SWPPX has been stable across timeframes, ranging from 0.64 to 0.69 - a consistent structural relationship.

EOCT vs. SWPPX - Sectors Allocation Comparison

Sectors	EOCT	SWPPX
Technology	37.0%	35.6%
Financial Services	19.4%	11.8%
Consumer Cyclical	9.6%	10.1%
Industrials	7.5%	8.3%
Communication Services	6.9%	11.2%
Basic Materials	6.5%	1.8%
Energy	4.0%	3.5%
Consumer Defensive	3.0%	4.9%
Healthcare	2.9%	8.5%
Utilities	2.1%	2.4%
Real Estate	1.1%	1.9%

Return for Risk

EOCT vs. SWPPX — Risk / Return Rank

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

EOCT

EOCT Risk / Return Rank: 84
EOCT Sharpe Ratio Rank: 84
EOCT Sortino Ratio Rank: 85
EOCT Omega Ratio Rank: 86
EOCT Calmar Ratio Rank: 80
EOCT Martin Ratio Rank: 83

SWPPX

SWPPX Risk / Return Rank: 65
SWPPX Sharpe Ratio Rank: 63
SWPPX Sortino Ratio Rank: 58
SWPPX Omega Ratio Rank: 59
SWPPX Calmar Ratio Rank: 67
SWPPX Martin Ratio Rank: 79

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.

EOCT vs. SWPPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Emerging Markets Power Buffer ETF - October (EOCT) and Schwab S&P 500 Index Fund (SWPPX). 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.

	EOCT	SWPPX	Difference
Sharpe ratio: Return per unit of total volatility	2.69	2.36	+0.33
Sortino ratio: Return per unit of downside risk	3.77	3.22	+0.55
Omega ratio: Gain probability vs. loss probability	1.52	1.43	+0.10
Calmar ratio: Return relative to maximum drawdown	4.10	3.16	+0.94
Martin ratio: Return relative to average drawdown	16.46	14.75	+1.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EOCT vs. SWPPX - Sharpe Ratio Comparison

The current EOCT Sharpe Ratio is 2.69, which is comparable to the SWPPX Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of EOCT and SWPPX, 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

	EOCT	SWPPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.69	2.36	+0.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.82	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.86	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.51	+0.09

Drawdowns

EOCT vs. SWPPX - Drawdown Comparison

The maximum EOCT drawdown since its inception was -20.35%, smaller than the maximum SWPPX drawdown of -55.06%. Use the drawdown chart below to compare losses from any high point for EOCT and SWPPX.

Drawdown Indicators

	EOCT	SWPPX	Difference
Max Drawdown Largest peak-to-trough decline	-20.35%	-55.06%	+34.71%
Max Drawdown (1Y) Largest decline over 1 year	-5.93%	-8.89%	+2.96%
Max Drawdown (3Y) Largest decline over 3 years	-10.76%	-18.74%	+7.98%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.51%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.80%	—
Current Drawdown Current decline from peak	-0.25%	-0.77%	+0.52%
Average Drawdown Average peak-to-trough decline	-5.69%	-9.95%	+4.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.47%	1.90%	-0.43%

Volatility

EOCT vs. SWPPX - Volatility Comparison

The current volatility for Innovator Emerging Markets Power Buffer ETF - October (EOCT) is 1.70%, while Schwab S&P 500 Index Fund (SWPPX) has a volatility of 2.94%. This indicates that EOCT experiences smaller price fluctuations and is considered to be less risky than SWPPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EOCT	SWPPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.70%	2.94%	-1.24%
Volatility (6M) Calculated over the trailing 6-month period	6.69%	9.00%	-2.31%
Volatility (1Y) Calculated over the trailing 1-year period	9.06%	11.90%	-2.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.30%	16.93%	-5.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.30%	18.23%	-6.93%

EOCT vs. SWPPX - Expense Ratio Comparison

EOCT has a 0.89% expense ratio, which is higher than SWPPX's 0.02% expense ratio.

Dividends

EOCT vs. SWPPX - Dividend Comparison

EOCT has not paid dividends to shareholders, while SWPPX's dividend yield for the trailing twelve months is around 1.00%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EOCT Innovator Emerging Markets Power Buffer ETF - October	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SWPPX Schwab S&P 500 Index Fund	1.00%	1.11%	1.23%	1.43%	1.67%	1.27%	1.81%	1.95%	2.67%	1.79%	2.55%	3.17%

Frequently Asked Questions

Can I hold both EOCT and SWPPX in my portfolio?

EOCT and SWPPX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EOCT or SWPPX?

SWPPX has higher volatility (2.94%) compared to EOCT (1.70%). In terms of maximum drawdown, EOCT dropped -20.35% vs SWPPX's -55.06%.

Which has better risk-adjusted returns?

EOCT currently has the higher Sharpe Ratio (2.69 vs 2.36), 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.