IAUG vs. BOUT

Last updated Jun 4, 2026

IAUG (Innovator International Developed Power Buffer ETF) and BOUT (Innovator IBD Breakout Opportunities ETF) are both exchange-traded funds - IAUG is a Defined Outcome fund actively managed by Innovator, while BOUT is a Mid Cap Growth Equities fund tracking the IBD Breakout Stocks Total Return Index. IAUG is actively managed, while BOUT is passively managed. Over the past year, IAUG returned 10.69% vs 35.27% for BOUT. A 0.57 correlation means they provide meaningful diversification when combined. IAUG charges 0.85%/yr vs 0.80%/yr for BOUT.

Performance

IAUG vs. BOUT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator International Developed Power Buffer ETF (IAUG) and Innovator IBD Breakout Opportunities ETF (BOUT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IAUG achieves a 5.02% return, which is significantly lower than BOUT's 31.39% return.

IAUG

• 1D: -0.03%
• 1M: 1.89%
• YTD: 5.02%
• 6M: 6.07%
• 1Y: 10.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BOUT

• 1D: -0.01%
• 1M: 5.85%
• YTD: 31.39%
• 6M: 30.30%
• 1Y: 35.27%
• 3Y*: 17.42%
• 5Y*: 8.25%
• 10Y*: —

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

IAUG vs. BOUT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IAUG Innovator International Developed Power Buffer ETF	5.02%	17.50%	-1.12%
BOUT Innovator IBD Breakout Opportunities ETF	31.39%	-6.77%	10.04%

Correlation

The correlation between IAUG and BOUT is 0.59, 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	0.59
Correlation (All Time) Calculated using the full available price history since Aug 2, 2024	0.57

The correlation between IAUG and BOUT has been stable across timeframes, ranging from 0.57 to 0.59 - a consistent structural relationship.

IAUG vs. BOUT - Sectors Allocation Comparison

Sectors	IAUG	BOUT
Financial Services	24.7%	22.9%
Industrials	19.8%	9.7%
Healthcare	10.6%	2.6%
Technology	10.3%	28.4%
Consumer Cyclical	7.7%	8.5%
Consumer Defensive	6.7%	9.7%
Basic Materials	5.9%	9.9%
Communication Services	4.5%	2.0%
Energy	4.0%	3.1%
Utilities	4.0%	7.0%
Real Estate	1.9%	3.5%

Return for Risk

IAUG vs. BOUT — Risk / Return Rank

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

IAUG

IAUG Risk / Return Rank: 42
IAUG Sharpe Ratio Rank: 39
IAUG Sortino Ratio Rank: 38
IAUG Omega Ratio Rank: 41
IAUG Calmar Ratio Rank: 46
IAUG Martin Ratio Rank: 45

BOUT

BOUT Risk / Return Rank: 51
BOUT Sharpe Ratio Rank: 49
BOUT Sortino Ratio Rank: 47
BOUT Omega Ratio Rank: 46
BOUT Calmar Ratio Rank: 61
BOUT Martin Ratio Rank: 53

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.

IAUG vs. BOUT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator International Developed Power Buffer ETF (IAUG) and Innovator IBD Breakout Opportunities ETF (BOUT). 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.

	IAUG	BOUT	Difference
Sharpe ratio: Return per unit of total volatility	1.37	1.71	-0.34
Sortino ratio: Return per unit of downside risk	1.97	2.33	-0.36
Omega ratio: Gain probability vs. loss probability	1.26	1.30	-0.04
Calmar ratio: Return relative to maximum drawdown	2.26	3.01	-0.75
Martin ratio: Return relative to average drawdown	7.28	9.00	-1.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IAUG vs. BOUT - Sharpe Ratio Comparison

The current IAUG Sharpe Ratio is 1.37, which is comparable to the BOUT Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of IAUG and BOUT, 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

	IAUG	BOUT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.37	1.71	-0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.43	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.28	0.41	+0.87

Drawdowns

IAUG vs. BOUT - Drawdown Comparison

The maximum IAUG drawdown since its inception was -8.03%, smaller than the maximum BOUT drawdown of -36.75%. Use the drawdown chart below to compare losses from any high point for IAUG and BOUT.

Drawdown Indicators

	IAUG	BOUT	Difference
Max Drawdown Largest peak-to-trough decline	-8.03%	-36.75%	+28.72%
Max Drawdown (1Y) Largest decline over 1 year	-4.75%	-11.76%	+7.01%
Max Drawdown (3Y) Largest decline over 3 years	—	-25.31%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-28.28%	—
Current Drawdown Current decline from peak	-0.03%	-0.01%	-0.02%
Average Drawdown Average peak-to-trough decline	-1.63%	-12.29%	+10.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.47%	3.93%	-2.46%

Volatility

IAUG vs. BOUT - Volatility Comparison

The current volatility for Innovator International Developed Power Buffer ETF (IAUG) is 1.40%, while Innovator IBD Breakout Opportunities ETF (BOUT) has a volatility of 5.96%. This indicates that IAUG experiences smaller price fluctuations and is considered to be less risky than BOUT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IAUG	BOUT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.40%	5.96%	-4.56%
Volatility (6M) Calculated over the trailing 6-month period	5.12%	16.05%	-10.93%
Volatility (1Y) Calculated over the trailing 1-year period	7.88%	20.79%	-12.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.01%	19.48%	-10.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.01%	22.93%	-13.92%

IAUG vs. BOUT - Expense Ratio Comparison

IAUG has a 0.85% expense ratio, which is higher than BOUT's 0.80% expense ratio.

Dividends

IAUG vs. BOUT - Dividend Comparison

IAUG has not paid dividends to shareholders, while BOUT's dividend yield for the trailing twelve months is around 0.26%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BOUT Innovator IBD Breakout Opportunities ETF	0.26%	0.34%	0.60%	1.32%	1.35%	0.00%	0.00%	0.00%	0.22%
IAUG Innovator International Developed Power Buffer ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IAUG and BOUT in my portfolio?

IAUG and BOUT have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IAUG or BOUT?

BOUT has higher volatility (5.96%) compared to IAUG (1.40%). In terms of maximum drawdown, IAUG dropped -8.03% vs BOUT's -36.75%.

Which ETF is better, IAUG or BOUT?

On 1-year performance, BOUT leads with 35.27% vs 10.69% for IAUG. On fees, BOUT is cheaper at 0.80% per year. On volatility, IAUG has been the lower-risk option at 1.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IAUG or BOUT?

Over the 1-year period, BOUT has performed better with a 35.27% return vs 10.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IAUG or BOUT?

BOUT is cheaper with a 0.80% expense ratio, compared with 0.85% for IAUG.

Which ETF pays a higher dividend yield, IAUG or BOUT?

BOUT has the higher dividend yield at 0.26%, compared with 0.00% for IAUG.

What is the main difference between IAUG and BOUT?

IAUG is categorized as Defined Outcome, while BOUT is Mid Cap Growth Equities. Their fees differ too: 0.85% for IAUG and 0.80% for BOUT.

Which has better risk-adjusted returns?

BOUT currently has the higher Sharpe Ratio (1.71 vs 1.37), 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.