GUSE vs. UNOV

Last updated Jun 5, 2026

GUSE (Goldman Sachs Enhanced U.S. Equity ETF) and UNOV (Innovator U.S. Equity Ultra Buffer ETF - November) are both Large Cap Blend Equities funds. GUSE is actively managed, while UNOV is passively managed. With a 0.95 correlation, they move nearly in lockstep. GUSE charges 0.30%/yr vs 0.79%/yr for UNOV.

Performance

GUSE vs. UNOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Enhanced U.S. Equity ETF (GUSE) 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, GUSE achieves a 11.96% return, which is significantly higher than UNOV's 5.56% return.

GUSE

• 1D: 0.30%
• 1M: 5.04%
• YTD: 11.96%
• 6M: 11.94%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

UNOV

• 1D: 0.15%
• 1M: 1.93%
• YTD: 5.56%
• 6M: 5.77%
• 1Y: 13.88%
• 3Y*: 10.29%
• 5Y*: 6.71%
• 10Y*: —

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

GUSE vs. UNOV - Yearly Performance Comparison

	2026 (YTD)	2025
GUSE Goldman Sachs Enhanced U.S. Equity ETF	11.96%	2.91%
UNOV Innovator U.S. Equity Ultra Buffer ETF - November	5.56%	1.69%

Correlation

The correlation between GUSE and UNOV is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 18, 2025	0.95

Return for Risk

GUSE vs. UNOV — Risk / Return Rank

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

UNOV

UNOV Risk / Return Rank: 77
UNOV Sharpe Ratio Rank: 78
UNOV Sortino Ratio Rank: 82
UNOV Omega Ratio Rank: 85
UNOV Calmar Ratio Rank: 63
UNOV Martin Ratio Rank: 78

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.

GUSE vs. UNOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Enhanced U.S. Equity ETF (GUSE) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	GUSE	UNOV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.50	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.99	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.20	0.92	+1.28

Drawdowns

GUSE vs. UNOV - Drawdown Comparison

The maximum GUSE drawdown since its inception was -8.54%, smaller than the maximum UNOV drawdown of -13.84%. Use the drawdown chart below to compare losses from any high point for GUSE and UNOV.

Drawdown Indicators

	GUSE	UNOV	Difference
Max Drawdown Largest peak-to-trough decline	-8.54%	-13.84%	+5.30%
Max Drawdown (1Y) Largest decline over 1 year	—	-4.52%	—
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	-0.42%	-0.07%	-0.35%
Average Drawdown Average peak-to-trough decline	-1.33%	-1.66%	+0.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.93%	—

Volatility

Volatility by Period

	GUSE	UNOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.11%	—
Volatility (6M) Calculated over the trailing 6-month period	—	4.67%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.68%	5.58%	+8.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.68%	6.83%	+6.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.68%	7.72%	+5.96%

GUSE vs. UNOV - Expense Ratio Comparison

GUSE has a 0.30% expense ratio, which is lower than UNOV's 0.79% expense ratio.

Dividends

GUSE vs. UNOV - Dividend Comparison

GUSE's dividend yield for the trailing twelve months is around 0.65%, while UNOV has not paid dividends to shareholders.

Position	TTM	2025
GUSE Goldman Sachs Enhanced U.S. Equity ETF	0.65%	0.73%
UNOV Innovator U.S. Equity Ultra Buffer ETF - November	0.00%	0.00%

Frequently Asked Questions

Can I hold both GUSE and UNOV in my portfolio?

With a correlation of 0.95, GUSE and UNOV move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, GUSE or UNOV?

On fees, GUSE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GUSE or UNOV?

GUSE is cheaper with a 0.30% expense ratio, compared with 0.79% for UNOV.

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

GUSE has the higher dividend yield at 0.65%, compared with 0.00% for UNOV.

What is the main difference between GUSE and UNOV?

They also come from different issuers: Goldman Sachs and Innovator. Their fees differ too: 0.30% for GUSE and 0.79% for UNOV.