IAUG vs. IAPR

Last updated Apr 1, 2026

Compare and contrast key facts about Innovator International Developed Power Buffer ETF (IAUG) and Innovator International Developed Power Buffer ETF - April (IAPR).

IAUG and IAPR are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IAUG is an actively managed fund by Innovator. It was launched on Jul 31, 2024. IAPR is a passively managed fund by Innovator that tracks the performance of the MSCI EAFE. It was launched on Mar 31, 2021.

Performance

IAUG vs. IAPR - Performance Comparison

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

IAUG vs. IAPR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IAUG Innovator International Developed Power Buffer ETF	0.68%	17.50%	-1.12%
IAPR Innovator International Developed Power Buffer ETF - April	2.69%	15.51%	-1.50%

Returns By Period

In the year-to-date period, IAUG achieves a 0.68% return, which is significantly lower than IAPR's 2.69% return.

IAUG

• 1D: 1.58%
• 1M: -2.83%
• YTD: 0.68%
• 6M: 2.81%
• 1Y: 13.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IAPR

• 1D: 1.25%
• 1M: 0.70%
• YTD: 2.69%
• 6M: 5.32%
• 1Y: 15.00%
• 3Y*: 8.92%
• 5Y*: —
• 10Y*: —

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

IAUG vs. IAPR - Expense Ratio Comparison

Both IAUG and IAPR have an expense ratio of 0.85%.

IAUG

Innovator International Developed Power Buffer ETF

IAPR

Innovator International Developed Power Buffer ETF - April

Return for Risk

IAUG vs. IAPR — Risk / Return Rank

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

IAUG

IAUG Risk / Return Rank: 75
IAUG Sharpe Ratio Rank: 74
IAUG Sortino Ratio Rank: 76
IAUG Omega Ratio Rank: 73
IAUG Calmar Ratio Rank: 79
IAUG Martin Ratio Rank: 74

IAPR

IAPR Risk / Return Rank: 89
IAPR Sharpe Ratio Rank: 87
IAPR Sortino Ratio Rank: 90
IAPR Omega Ratio Rank: 93
IAPR Calmar Ratio Rank: 81
IAPR Martin Ratio Rank: 95

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. IAPR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator International Developed Power Buffer ETF (IAUG) and Innovator International Developed Power Buffer ETF - April (IAPR). 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	IAPR	Difference
Sharpe ratio Return per unit of total volatility	1.34	1.80	-0.47
Sortino ratio Return per unit of downside risk	1.94	2.62	-0.68
Omega ratio Gain probability vs. loss probability	1.27	1.43	-0.16
Calmar ratio Return relative to maximum drawdown	2.14	2.33	-0.19
Martin ratio Return relative to average drawdown	7.83	15.34	-7.51
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. IAPR - Sharpe Ratio Comparison

The current IAUG Sharpe Ratio is 1.34, which is comparable to the IAPR Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of IAUG and IAPR, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	IAUG	IAPR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.34	1.80	-0.47
Sharpe Ratio (All Time) Calculated using the full available price history	1.08	0.54	+0.54

Correlation

The correlation between IAUG and IAPR is 0.93, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

IAUG vs. IAPR - Dividend Comparison

Neither IAUG nor IAPR has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

IAUG vs. IAPR - Drawdown Comparison

The maximum IAUG drawdown since its inception was -8.03%, smaller than the maximum IAPR drawdown of -17.73%. Use the drawdown chart below to compare losses from any high point for IAUG and IAPR.

Drawdown Indicators

	IAUG	IAPR	Difference
Max Drawdown Largest peak-to-trough decline	-8.03%	-17.73%	+9.70%
Max Drawdown (1Y) Largest decline over 1 year	-5.77%	-6.08%	+0.31%
Current Drawdown Current decline from peak	-3.03%	0.00%	-3.03%
Average Drawdown Average peak-to-trough decline	-1.75%	-3.99%	+2.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.57%	0.92%	+0.65%

Volatility

IAUG vs. IAPR - Volatility Comparison

Innovator International Developed Power Buffer ETF (IAUG) has a higher volatility of 3.63% compared to Innovator International Developed Power Buffer ETF - April (IAPR) at 2.78%. This indicates that IAUG's price experiences larger fluctuations and is considered to be riskier than IAPR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IAUG	IAPR	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.63%	2.78%	+0.85%
Volatility (6M) Calculated over the trailing 6-month period	5.12%	3.92%	+1.20%
Volatility (1Y) Calculated over the trailing 1-year period	9.79%	8.38%	+1.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.25%	8.70%	+0.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.25%	8.70%	+0.55%