MGC vs. UJUN

Last updated Jun 4, 2026

MGC (Vanguard Mega Cap ETF) and UJUN (Innovator U.S. Equity Ultra Buffer ETF - June) are both Large Cap Blend Equities funds - MGC tracks the CRSP US Mega Cap Index while UJUN tracks the Cboe S&P 500 30% (-5% to -35%) Buffer Protect June Series Index. Both are passively managed. Over the past 5 years, MGC returned 14.70%/yr vs 6.47%/yr for UJUN. Their correlation of 0.90 suggests significant overlap in exposure. MGC charges 0.05%/yr vs 0.79%/yr for UJUN.

Performance

MGC vs. UJUN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Mega Cap ETF (MGC) and Innovator U.S. Equity Ultra Buffer ETF - June (UJUN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MGC achieves a 10.80% return, which is significantly higher than UJUN's 3.62% return.

MGC

• 1D: -0.79%
• 1M: 5.59%
• YTD: 10.80%
• 6M: 10.75%
• 1Y: 29.68%
• 3Y*: 23.87%
• 5Y*: 14.70%
• 10Y*: 16.36%

UJUN

• 1D: 0.03%
• 1M: 0.75%
• YTD: 3.62%
• 6M: 4.45%
• 1Y: 11.12%
• 3Y*: 11.37%
• 5Y*: 6.47%
• 10Y*: —

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

MGC vs. UJUN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
MGC Vanguard Mega Cap ETF	10.80%	19.31%	27.16%	29.77%	-19.95%	27.58%	21.57%	19.58%
UJUN Innovator U.S. Equity Ultra Buffer ETF - June	3.62%	10.63%	12.49%	12.17%	-8.86%	5.09%	7.15%	6.80%

Correlation

The correlation between MGC and UJUN is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jun 4, 2019	0.90

The correlation between MGC and UJUN has been stable across timeframes, ranging from 0.84 to 0.93 - a consistent structural relationship.

MGC vs. UJUN - Sectors Allocation Comparison

Sectors	MGC	UJUN
Technology	39.3%	36.2%
Communication Services	13.1%	10.9%
Financial Services	11.7%	11.9%
Consumer Cyclical	10.1%	10.1%
Healthcare	8.9%	8.4%
Industrials	6.5%	8.1%
Consumer Defensive	4.8%	4.9%
Energy	2.6%	3.5%
Basic Materials	1.2%	1.8%
Utilities	1.0%	2.3%
Real Estate	1.0%	1.9%

Return for Risk

MGC vs. UJUN — Risk / Return Rank

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

MGC

MGC Risk / Return Rank: 69
MGC Sharpe Ratio Rank: 73
MGC Sortino Ratio Rank: 71
MGC Omega Ratio Rank: 71
MGC Calmar Ratio Rank: 60
MGC Martin Ratio Rank: 71

UJUN

UJUN Risk / Return Rank: 86
UJUN Sharpe Ratio Rank: 80
UJUN Sortino Ratio Rank: 88
UJUN Omega Ratio Rank: 91
UJUN Calmar Ratio Rank: 77
UJUN Martin Ratio Rank: 93

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.

MGC vs. UJUN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Mega Cap ETF (MGC) and Innovator U.S. Equity Ultra Buffer ETF - June (UJUN). 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.

	MGC	UJUN	Difference
Sharpe ratio Return per unit of total volatility	2.42	2.64	-0.22
Sortino ratio Return per unit of downside risk	3.30	4.06	-0.76
Omega ratio Gain probability vs. loss probability	1.43	1.61	-0.18
Calmar ratio Return relative to maximum drawdown	3.03	3.98	-0.95
Martin ratio Return relative to average drawdown	13.61	24.36	-10.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MGC vs. UJUN - Sharpe Ratio Comparison

The current MGC Sharpe Ratio is 2.42, which is comparable to the UJUN Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of MGC and UJUN, 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

	MGC	UJUN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.42	2.64	-0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.86	0.78	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.90	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.78	-0.18

Drawdowns

MGC vs. UJUN - Drawdown Comparison

The maximum MGC drawdown since its inception was -51.93%, which is greater than UJUN's maximum drawdown of -13.73%. Use the drawdown chart below to compare losses from any high point for MGC and UJUN.

Drawdown Indicators

	MGC	UJUN	Difference
Max Drawdown Largest peak-to-trough decline	-51.93%	-13.73%	-38.20%
Max Drawdown (1Y) Largest decline over 1 year	-9.85%	-2.84%	-7.01%
Max Drawdown (3Y) Largest decline over 3 years	-19.28%	-11.24%	-8.04%
Max Drawdown (5Y) Largest decline over 5 years	-25.74%	-11.96%	-13.78%
Max Drawdown (10Y) Largest decline over 10 years	-33.07%	—	—
Current Drawdown Current decline from peak	-0.79%	0.00%	-0.79%
Average Drawdown Average peak-to-trough decline	-7.06%	-2.07%	-4.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.19%	0.46%	+1.73%

Volatility

MGC vs. UJUN - Volatility Comparison

Vanguard Mega Cap ETF (MGC) has a higher volatility of 3.04% compared to Innovator U.S. Equity Ultra Buffer ETF - June (UJUN) at 0.24%. This indicates that MGC's price experiences larger fluctuations and is considered to be riskier than UJUN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MGC	UJUN	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.04%	0.24%	+2.80%
Volatility (6M) Calculated over the trailing 6-month period	9.27%	3.23%	+6.04%
Volatility (1Y) Calculated over the trailing 1-year period	12.32%	4.24%	+8.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.27%	8.32%	+8.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.21%	8.77%	+9.44%

MGC vs. UJUN - Expense Ratio Comparison

MGC has a 0.05% expense ratio, which is lower than UJUN's 0.79% expense ratio.

Dividends

MGC vs. UJUN - Dividend Comparison

MGC's dividend yield for the trailing twelve months is around 0.87%, while UJUN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MGC Vanguard Mega Cap ETF	0.87%	0.93%	1.15%	1.35%	1.65%	1.17%	1.45%	1.81%	2.10%	1.83%	2.14%	2.11%
UJUN Innovator U.S. Equity Ultra Buffer ETF - June	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.89%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MGC and UJUN in my portfolio?

MGC and UJUN have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MGC or UJUN?

MGC has higher volatility (3.04%) compared to UJUN (0.24%). In terms of maximum drawdown, MGC dropped -51.93% vs UJUN's -13.73%.

Which ETF is better, MGC or UJUN?

On 5-year performance, MGC leads with 14.70% vs 6.47% for UJUN. On fees, MGC is cheaper at 0.05% per year. On volatility, UJUN has been the lower-risk option at 0.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MGC or UJUN?

Over the 5-year period, MGC has performed better with a 14.70% return vs 6.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MGC or UJUN?

MGC is cheaper with a 0.05% expense ratio, compared with 0.79% for UJUN.

Which ETF pays a higher dividend yield, MGC or UJUN?

MGC has the higher dividend yield at 0.87%, compared with 0.00% for UJUN.

What is the main difference between MGC and UJUN?

MGC tracks CRSP US Mega Cap Index, while UJUN tracks Cboe S&P 500 30% (-5% to -35%) Buffer Protect June Series Index. They also come from different issuers: Vanguard and Innovator. Their fees differ too: 0.05% for MGC and 0.79% for UJUN.

Which has better risk-adjusted returns?

UJUN currently has the higher Sharpe Ratio (2.64 vs 2.42), 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.