KAUG vs. AIOO

Last updated Apr 1, 2026

Compare and contrast key facts about Innovator U.S. Small Cap Power Buffer ETF (KAUG) and AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO).

KAUG and AIOO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. KAUG is an actively managed fund by Innovator. It was launched on Jul 31, 2024. AIOO is an actively managed fund by Allianz. It was launched on Jun 30, 2025.

Performance

KAUG vs. AIOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Small Cap Power Buffer ETF (KAUG) and AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO). The values are adjusted to include any dividend payments, if applicable.

KAUG vs. AIOO - Yearly Performance Comparison

	2026 (YTD)	2025
KAUG Innovator U.S. Small Cap Power Buffer ETF	1.05%	6.33%
AIOO AllianzIM U.S. Equity Buffer100 Protection ETF	0.01%	2.67%

Returns By Period

In the year-to-date period, KAUG achieves a 1.05% return, which is significantly higher than AIOO's 0.01% return.

KAUG

• 1D: 1.78%
• 1M: -1.48%
• YTD: 1.05%
• 6M: 3.12%
• 1Y: 11.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AIOO

• 1D: 0.08%
• 1M: -0.25%
• YTD: 0.01%
• 6M: 0.80%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KAUG vs. AIOO - Expense Ratio Comparison

KAUG has a 0.79% expense ratio, which is higher than AIOO's 0.64% expense ratio.

KAUG

Innovator U.S. Small Cap Power Buffer ETF

AIOO

AllianzIM U.S. Equity Buffer100 Protection ETF

Return for Risk

KAUG vs. AIOO — Risk / Return Rank

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

KAUG

KAUG Risk / Return Rank: 58
KAUG Sharpe Ratio Rank: 56
KAUG Sortino Ratio Rank: 58
KAUG Omega Ratio Rank: 58
KAUG Calmar Ratio Rank: 53
KAUG Martin Ratio Rank: 68

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.

KAUG vs. AIOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Small Cap Power Buffer ETF (KAUG) and AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO). 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.

	KAUG	AIOO	Difference
Sharpe ratio Return per unit of total volatility	0.99	—	—
Sortino ratio Return per unit of downside risk	1.50	—	—
Omega ratio Gain probability vs. loss probability	1.22	—	—
Calmar ratio Return relative to maximum drawdown	1.36	—	—
Martin ratio Return relative to average drawdown	6.99	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	KAUG	AIOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.99	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	1.82	-1.33

Correlation

The correlation between KAUG and AIOO is 0.60, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

KAUG vs. AIOO - Dividend Comparison

Neither KAUG nor AIOO has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

KAUG vs. AIOO - Drawdown Comparison

The maximum KAUG drawdown since its inception was -15.66%, which is greater than AIOO's maximum drawdown of -0.74%. Use the drawdown chart below to compare losses from any high point for KAUG and AIOO.

Drawdown Indicators

	KAUG	AIOO	Difference
Max Drawdown Largest peak-to-trough decline	-15.66%	-0.74%	-14.92%
Max Drawdown (1Y) Largest decline over 1 year	-8.38%	—	—
Current Drawdown Current decline from peak	-2.23%	-0.45%	-1.78%
Average Drawdown Average peak-to-trough decline	-3.12%	-0.19%	-2.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.63%	—	—

Volatility

Volatility by Period

	KAUG	AIOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.68%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.25%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	11.73%	1.99%	+9.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.69%	1.99%	+9.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.69%	1.99%	+9.70%