JULB vs. NSEP

Last updated Jun 4, 2026

JULB (Aptus July Buffer ETF) and NSEP (Innovator Growth-100 Power Buffer ETF - September) are both Defined Outcome funds. Both are actively managed. Their correlation of 0.91 suggests significant overlap in exposure. JULB charges 0.25%/yr vs 0.79%/yr for NSEP.

Performance

JULB vs. NSEP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aptus July Buffer ETF (JULB) and Innovator Growth-100 Power Buffer ETF - September (NSEP). 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 JULB having a 6.35% return and NSEP slightly higher at 6.61%.

JULB

• 1D: -0.07%
• 1M: 2.40%
• YTD: 6.35%
• 6M: 6.93%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NSEP

• 1D: 0.00%
• 1M: 1.85%
• YTD: 6.61%
• 6M: 6.79%
• 1Y: 16.89%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JULB vs. NSEP - Yearly Performance Comparison

	2026 (YTD)	2025
JULB Aptus July Buffer ETF	6.35%	2.56%
NSEP Innovator Growth-100 Power Buffer ETF - September	6.61%	2.23%

Correlation

The correlation between JULB and NSEP is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 15, 2025	0.91

Return for Risk

JULB vs. NSEP — Risk / Return Rank

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

NSEP

NSEP Risk / Return Rank: 80
NSEP Sharpe Ratio Rank: 78
NSEP Sortino Ratio Rank: 80
NSEP Omega Ratio Rank: 85
NSEP Calmar Ratio Rank: 74
NSEP 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.

JULB vs. NSEP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aptus July Buffer ETF (JULB) and Innovator Growth-100 Power Buffer ETF - September (NSEP). 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

	JULB	NSEP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.51	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.17	1.50	+0.67

Drawdowns

JULB vs. NSEP - Drawdown Comparison

The maximum JULB drawdown since its inception was -5.24%, smaller than the maximum NSEP drawdown of -12.31%. Use the drawdown chart below to compare losses from any high point for JULB and NSEP.

Drawdown Indicators

	JULB	NSEP	Difference
Max Drawdown Largest peak-to-trough decline	-5.24%	-12.31%	+7.07%
Max Drawdown (1Y) Largest decline over 1 year	—	-4.66%	—
Current Drawdown Current decline from peak	-0.07%	-0.06%	-0.01%
Average Drawdown Average peak-to-trough decline	-0.87%	-1.09%	+0.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.96%	—

Volatility

Volatility by Period

	JULB	NSEP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.70%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.26%	—
Volatility (1Y) Calculated over the trailing 1-year period	6.81%	6.76%	+0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.81%	10.47%	-3.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.81%	10.47%	-3.66%

JULB vs. NSEP - Expense Ratio Comparison

JULB has a 0.25% expense ratio, which is lower than NSEP's 0.79% expense ratio.

Dividends

JULB vs. NSEP - Dividend Comparison

Neither JULB nor NSEP has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both JULB and NSEP in my portfolio?

With a correlation of 0.91, JULB and NSEP 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, JULB or NSEP?

On fees, JULB is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JULB or NSEP?

JULB is cheaper with a 0.25% expense ratio, compared with 0.79% for NSEP.

Which ETF pays a higher dividend yield, JULB or NSEP?

JULB and NSEP have nearly identical dividend yields, around 0.00%.

What is the main difference between JULB and NSEP?

They also come from different issuers: Aptus Capital Advisors and Innovator. Their fees differ too: 0.25% for JULB and 0.79% for NSEP.