NAUG vs. IAUG

Last updated Aug 1, 2026

NAUG (Innovator Growth-100 Power Buffer ETF) and IAUG (Innovator International Developed Power Buffer ETF) are both Defined Outcome funds from Innovator. Both are actively managed. Over the past year, NAUG returned 15.09% vs 13.52% for IAUG. Their 0.60 correlation means they have sometimes moved together and sometimes differently. NAUG charges 0.79%/yr vs 0.85%/yr for IAUG.

Performance

NAUG vs. IAUG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Growth-100 Power Buffer ETF (NAUG) and Innovator International Developed Power Buffer ETF (IAUG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NAUG achieves a 8.05% return, which is significantly higher than IAUG's 7.10% return.

NAUG

• 1D: 0.31%
• 1M: 1.09%
• 6M: 7.47%
• YTD: 8.05%
• 1Y: 15.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.53%

IAUG

• 1D: 0.11%
• 1M: 0.82%
• 6M: 4.82%
• YTD: 7.10%
• 1Y: 13.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.93%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IAUG Innovator International Developed Power Buffer ETF	$474.64K	$365.80K	$238.62K
NAUG Innovator Growth-100 Power Buffer ETF	$844.56K	$507.63K	$954.10K

NAUG vs. IAUG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NAUG Innovator Growth-100 Power Buffer ETF	8.05%	14.81%	5.68%
IAUG Innovator International Developed Power Buffer ETF	7.10%	17.50%	-2.26%

Correlation

The correlation between NAUG and IAUG is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.67
Correlation (All Time) Calculated using the full available price history since Aug 1, 2024	0.60

The correlation between NAUG and IAUG has been stable across timeframes, ranging from 0.60 to 0.67 - a consistent structural relationship.

Return for Risk

NAUG vs. IAUG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NAUG

NAUG Risk / Return Rank: 84
NAUG Sharpe Ratio Rank: 84
NAUG Sortino Ratio Rank: 84
NAUG Omega Ratio Rank: 86
NAUG Calmar Ratio Rank: 77
NAUG Martin Ratio Rank: 88

IAUG

IAUG Risk / Return Rank: 85
IAUG Sharpe Ratio Rank: 87
IAUG Sortino Ratio Rank: 88
IAUG Omega Ratio Rank: 89
IAUG Calmar Ratio Rank: 78
IAUG Martin Ratio Rank: 85

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NAUG vs. IAUG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Growth-100 Power Buffer ETF (NAUG) and Innovator International Developed Power Buffer ETF (IAUG). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	NAUG	IAUG	Difference
Sharpe ratio: Return per unit of total volatility	1.96	2.08	-0.12
Sortino ratio: Return per unit of downside risk	2.78	3.01	-0.23
Omega ratio: Gain probability vs. loss probability	1.38	1.40	-0.02
Calmar ratio: Return relative to maximum drawdown	2.76	2.81	-0.04
Martin ratio: Return relative to average drawdown	13.49	11.98	+1.51

NAUG vs. IAUG - Sharpe Ratio Comparison

The current NAUG Sharpe Ratio is 1.96, which is comparable to the IAUG Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of NAUG and IAUG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NAUG vs. IAUG - Drawdown Comparison

The maximum NAUG drawdown since its inception was -12.88%, which is greater than IAUG's maximum drawdown of -8.03%. Use the drawdown chart below to compare losses from any high point for NAUG and IAUG.

Drawdown Indicators

	NAUG	IAUG	Difference
Max Drawdown Largest peak-to-trough decline	-12.88%	-8.03%	-4.85%
Max Drawdown (1Y) Largest decline over 1 year	-5.10%	-4.75%	-0.35%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.14%	-1.53%	+0.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.05%	1.11%	-0.06%

Volatility

NAUG vs. IAUG - Volatility Comparison

Innovator Growth-100 Power Buffer ETF (NAUG) has a higher volatility of 0.78% compared to Innovator International Developed Power Buffer ETF (IAUG) at 0.63%. This indicates that NAUG's price experiences larger fluctuations and is considered to be riskier than IAUG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NAUG	IAUG	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.78%	0.63%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	5.26%	4.97%	+0.29%
Volatility (1Y) Calculated over the trailing 1-year period	7.21%	6.51%	+0.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.85%	8.76%	+2.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.85%	8.76%	+2.09%

NAUG vs. IAUG - Expense Ratio Comparison

NAUG has a 0.79% expense ratio, which is lower than IAUG's 0.85% expense ratio.

Dividends

NAUG vs. IAUG - Dividend Comparison

Neither NAUG nor IAUG has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both NAUG and IAUG in my portfolio?

NAUG and IAUG have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NAUG or IAUG?

NAUG has higher volatility (0.78%) compared to IAUG (0.63%). In terms of maximum drawdown, NAUG dropped -12.88% vs IAUG's -8.03%.

Which ETF is better, NAUG or IAUG?

On 1-year performance, NAUG leads with 15.09% vs 13.52% for IAUG. On fees, NAUG is cheaper at 0.79% per year. On volatility, IAUG has been the lower-risk option at 0.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NAUG or IAUG?

Over the 1-year period, NAUG has performed better with a 15.09% return vs 13.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NAUG or IAUG?

NAUG is cheaper with a 0.79% expense ratio, compared with 0.85% for IAUG.

Which ETF pays a higher dividend yield, NAUG or IAUG?

NAUG and IAUG have nearly identical dividend yields, around 0.00%.

What is the main difference between NAUG and IAUG?

Their fees differ too: 0.79% for NAUG and 0.85% for IAUG.

Which has better risk-adjusted returns?

IAUG currently has the higher Sharpe Ratio (2.08 vs 1.96), 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.