IOCT vs. POCT

Last updated Jun 3, 2026

IOCT (Innovator International Developed Power Buffer ETF- October) and POCT (Innovator U.S. Equity Power Buffer ETF October) are both exchange-traded funds - IOCT is a Options Trading fund actively managed by Innovator, while POCT is a Defined Outcome fund tracking the Cboe S&P 500 15% Buffer Protect October Series Index. IOCT is actively managed, while POCT is passively managed. Over the past 3 years, IOCT returned 12.51%/yr vs 12.24%/yr for POCT. A 0.69 correlation means they provide meaningful diversification when combined. IOCT charges 0.85%/yr vs 0.79%/yr for POCT.

Performance

IOCT vs. POCT - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with IOCT having a 5.42% return and POCT slightly higher at 5.54%.

IOCT

• 1D: 0.21%
• 1M: 1.47%
• YTD: 5.42%
• 6M: 7.04%
• 1Y: 13.00%
• 3Y*: 12.51%
• 5Y*: —
• 10Y*: —

POCT

• 1D: 0.10%
• 1M: 2.06%
• YTD: 5.54%
• 6M: 6.22%
• 1Y: 15.20%
• 3Y*: 12.24%
• 5Y*: 9.90%
• 10Y*: —

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

IOCT vs. POCT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
IOCT Innovator International Developed Power Buffer ETF- October	5.42%	18.96%	4.88%	17.54%	-6.31%	0.98%
POCT Innovator U.S. Equity Power Buffer ETF October	5.54%	11.00%	9.54%	20.12%	-1.26%	3.16%

Correlation

The correlation between IOCT and POCT 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	0.69

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

IOCT vs. POCT - Sectors Allocation Comparison

Sectors	IOCT	POCT
Financial Services	24.7%	11.9%
Industrials	19.8%	8.1%
Healthcare	10.6%	8.4%
Technology	10.3%	36.2%
Consumer Cyclical	7.7%	10.1%
Consumer Defensive	6.7%	4.9%
Basic Materials	5.9%	1.8%
Communication Services	4.5%	10.9%
Energy	4.0%	3.5%
Utilities	4.0%	2.3%
Real Estate	1.9%	1.9%

Return for Risk

IOCT vs. POCT — Risk / Return Rank

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

IOCT

IOCT Risk / Return Rank: 44
IOCT Sharpe Ratio Rank: 41
IOCT Sortino Ratio Rank: 42
IOCT Omega Ratio Rank: 40
IOCT Calmar Ratio Rank: 47
IOCT Martin Ratio Rank: 52

POCT

POCT Risk / Return Rank: 78
POCT Sharpe Ratio Rank: 75
POCT Sortino Ratio Rank: 78
POCT Omega Ratio Rank: 82
POCT Calmar Ratio Rank: 69
POCT Martin Ratio Rank: 85

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.

IOCT vs. POCT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator International Developed Power Buffer ETF- October (IOCT) and Innovator U.S. Equity Power Buffer ETF October (POCT). 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.

	IOCT	POCT	Difference
Sharpe ratio Return per unit of total volatility	1.48	2.48	-1.00
Sortino ratio Return per unit of downside risk	2.17	3.56	-1.39
Omega ratio Gain probability vs. loss probability	1.27	1.50	-0.23
Calmar ratio Return relative to maximum drawdown	2.38	3.53	-1.14
Martin ratio Return relative to average drawdown	9.02	18.14	-9.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IOCT vs. POCT - Sharpe Ratio Comparison

The current IOCT Sharpe Ratio is 1.48, which is lower than the POCT Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of IOCT and POCT, 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

	IOCT	POCT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.48	2.48	-1.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.25	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.91	0.88	+0.04

Drawdowns

IOCT vs. POCT - Drawdown Comparison

The maximum IOCT drawdown since its inception was -16.94%, smaller than the maximum POCT drawdown of -18.80%. Use the drawdown chart below to compare losses from any high point for IOCT and POCT.

Drawdown Indicators

	IOCT	POCT	Difference
Max Drawdown Largest peak-to-trough decline	-16.94%	-18.80%	+1.86%
Max Drawdown (1Y) Largest decline over 1 year	-5.84%	-4.40%	-1.44%
Max Drawdown (3Y) Largest decline over 3 years	-7.54%	-10.22%	+2.68%
Max Drawdown (5Y) Largest decline over 5 years	—	-10.22%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.67%	-1.50%	-1.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.54%	0.86%	+0.68%

Volatility

IOCT vs. POCT - Volatility Comparison

Innovator International Developed Power Buffer ETF- October (IOCT) has a higher volatility of 2.31% compared to Innovator U.S. Equity Power Buffer ETF October (POCT) at 0.92%. This indicates that IOCT's price experiences larger fluctuations and is considered to be riskier than POCT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IOCT	POCT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.31%	0.92%	+1.39%
Volatility (6M) Calculated over the trailing 6-month period	6.44%	4.78%	+1.66%
Volatility (1Y) Calculated over the trailing 1-year period	8.85%	6.16%	+2.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.36%	7.94%	+1.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.36%	10.23%	-0.87%

IOCT vs. POCT - Expense Ratio Comparison

IOCT has a 0.85% expense ratio, which is higher than POCT's 0.79% expense ratio.

Dividends

IOCT vs. POCT - Dividend Comparison

Neither IOCT nor POCT has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
IOCT Innovator International Developed Power Buffer ETF- October	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
POCT Innovator U.S. Equity Power Buffer ETF October	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.21%

Frequently Asked Questions

Can I hold both IOCT and POCT in my portfolio?

IOCT and POCT 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, IOCT or POCT?

IOCT has higher volatility (2.31%) compared to POCT (0.92%). In terms of maximum drawdown, IOCT dropped -16.94% vs POCT's -18.80%.

Which ETF is better, IOCT or POCT?

On 3-year performance, IOCT leads with 12.51% vs 12.24% for POCT. On fees, POCT is cheaper at 0.79% per year. On volatility, POCT has been the lower-risk option at 0.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IOCT or POCT?

Over the 3-year period, IOCT has performed better with a 12.51% return vs 12.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IOCT or POCT?

POCT is cheaper with a 0.79% expense ratio, compared with 0.85% for IOCT.

Which ETF pays a higher dividend yield, IOCT or POCT?

IOCT and POCT have nearly identical dividend yields, around 0.00%.

What is the main difference between IOCT and POCT?

IOCT is categorized as Options Trading, while POCT is Defined Outcome. Their fees differ too: 0.85% for IOCT and 0.79% for POCT.

Which has better risk-adjusted returns?

POCT currently has the higher Sharpe Ratio (2.48 vs 1.48), 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.