KJUL vs. UAUG

Last updated Apr 2, 2026

Compare and contrast key facts about Innovator Russell 2000 Power Buffer ETF - July (KJUL) and Innovator U.S. Equity Ultra Buffer ETF - August (UAUG).

KJUL and UAUG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. KJUL is a passively managed fund by Innovator that tracks the performance of the iShares Russell 2000 ETF. It was launched on Jun 30, 2020. UAUG is a passively managed fund by Innovator that tracks the performance of the S&P 500. It was launched on Jul 31, 2019. Both KJUL and UAUG are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

KJUL vs. UAUG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Russell 2000 Power Buffer ETF - July (KJUL) and Innovator U.S. Equity Ultra Buffer ETF - August (UAUG). The values are adjusted to include any dividend payments, if applicable.

KJUL vs. UAUG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
KJUL Innovator Russell 2000 Power Buffer ETF - July	1.40%	7.70%	8.69%	11.78%	-8.44%	2.51%	11.61%
UAUG Innovator U.S. Equity Ultra Buffer ETF - August	-1.08%	12.42%	15.51%	17.71%	-10.81%	4.94%	8.20%

Returns By Period

In the year-to-date period, KJUL achieves a 1.40% return, which is significantly higher than UAUG's -1.08% return.

KJUL

• 1D: 0.35%
• 1M: -1.26%
• YTD: 1.40%
• 6M: 3.66%
• 1Y: 15.01%
• 3Y*: 9.08%
• 5Y*: 4.00%
• 10Y*: —

UAUG

• 1D: 0.37%
• 1M: -1.82%
• YTD: -1.08%
• 6M: 0.37%
• 1Y: 13.67%
• 3Y*: 13.45%
• 5Y*: 6.91%
• 10Y*: —

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

KJUL vs. UAUG - Expense Ratio Comparison

Both KJUL and UAUG have an expense ratio of 0.79%.

KJUL

Innovator Russell 2000 Power Buffer ETF - July

UAUG

Innovator U.S. Equity Ultra Buffer ETF - August

Return for Risk

KJUL vs. UAUG — Risk / Return Rank

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

KJUL

KJUL Risk / Return Rank: 72
KJUL Sharpe Ratio Rank: 71
KJUL Sortino Ratio Rank: 72
KJUL Omega Ratio Rank: 70
KJUL Calmar Ratio Rank: 67
KJUL Martin Ratio Rank: 79

UAUG

UAUG Risk / Return Rank: 81
UAUG Sharpe Ratio Rank: 76
UAUG Sortino Ratio Rank: 80
UAUG Omega Ratio Rank: 85
UAUG Calmar Ratio Rank: 77
UAUG Martin Ratio Rank: 87

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.

KJUL vs. UAUG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Russell 2000 Power Buffer ETF - July (KJUL) and Innovator U.S. Equity Ultra Buffer ETF - August (UAUG). 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.

	KJUL	UAUG	Difference
Sharpe ratio Return per unit of total volatility	1.32	1.46	-0.14
Sortino ratio Return per unit of downside risk	1.92	2.15	-0.22
Omega ratio Gain probability vs. loss probability	1.27	1.35	-0.08
Calmar ratio Return relative to maximum drawdown	1.89	2.23	-0.34
Martin ratio Return relative to average drawdown	9.52	11.11	-1.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KJUL vs. UAUG - Sharpe Ratio Comparison

The current KJUL Sharpe Ratio is 1.32, which is comparable to the UAUG Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of KJUL and UAUG, 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

	KJUL	UAUG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.32	1.46	-0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	0.88	-0.56
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.82	-0.32

Correlation

The correlation between KJUL and UAUG is 0.74, 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

KJUL vs. UAUG - Dividend Comparison

Neither KJUL nor UAUG has paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019
KJUL Innovator Russell 2000 Power Buffer ETF - July	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UAUG Innovator U.S. Equity Ultra Buffer ETF - August	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.83%

Drawdowns

KJUL vs. UAUG - Drawdown Comparison

The maximum KJUL drawdown since its inception was -16.69%, which is greater than UAUG's maximum drawdown of -13.91%. Use the drawdown chart below to compare losses from any high point for KJUL and UAUG.

Drawdown Indicators

	KJUL	UAUG	Difference
Max Drawdown Largest peak-to-trough decline	-16.69%	-13.91%	-2.78%
Max Drawdown (1Y) Largest decline over 1 year	-7.90%	-6.31%	-1.59%
Max Drawdown (5Y) Largest decline over 5 years	-16.69%	-13.91%	-2.78%
Current Drawdown Current decline from peak	-1.43%	-2.16%	+0.73%
Average Drawdown Average peak-to-trough decline	-4.12%	-2.41%	-1.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.57%	1.27%	+0.30%

Volatility

KJUL vs. UAUG - Volatility Comparison

Innovator Russell 2000 Power Buffer ETF - July (KJUL) has a higher volatility of 3.54% compared to Innovator U.S. Equity Ultra Buffer ETF - August (UAUG) at 2.86%. This indicates that KJUL's price experiences larger fluctuations and is considered to be riskier than UAUG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KJUL	UAUG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.54%	2.86%	+0.68%
Volatility (6M) Calculated over the trailing 6-month period	5.93%	4.32%	+1.61%
Volatility (1Y) Calculated over the trailing 1-year period	11.45%	9.43%	+2.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.28%	7.85%	+4.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.82%	8.80%	+3.02%