NAUG vs. LOUP

Last updated Jun 5, 2026

NAUG (Innovator Growth-100 Power Buffer ETF) and LOUP (Innovator Deepwater Frontier Tech ETF) are both exchange-traded funds - NAUG is a Defined Outcome fund actively managed by Innovator, while LOUP is a Technology Equities fund tracking the Deepwater Frontier Tech Index. NAUG is actively managed, while LOUP is passively managed. Over the past year, NAUG returned 17.67% vs 75.12% for LOUP. A 0.80 correlation means they provide meaningful diversification when combined. NAUG charges 0.79%/yr vs 0.70%/yr for LOUP.

Performance

NAUG vs. LOUP - Performance Comparison

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

Returns By Period

In the year-to-date period, NAUG achieves a 6.71% return, which is significantly lower than LOUP's 29.15% return.

NAUG

• 1D: 0.06%
• 1M: 1.69%
• YTD: 6.71%
• 6M: 7.26%
• 1Y: 17.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

LOUP

• 1D: 0.73%
• 1M: 15.35%
• YTD: 29.15%
• 6M: 27.05%
• 1Y: 75.12%
• 3Y*: 37.54%
• 5Y*: 13.15%
• 10Y*: —

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

NAUG vs. LOUP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NAUG Innovator Growth-100 Power Buffer ETF	6.71%	14.81%	7.13%
LOUP Innovator Deepwater Frontier Tech ETF	29.15%	43.24%	25.35%

Correlation

The correlation between NAUG and LOUP is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (All Time) Calculated using the full available price history since Aug 2, 2024	0.80

The correlation between NAUG and LOUP has been stable across timeframes, ranging from 0.75 to 0.80 - a consistent structural relationship.

Return for Risk

NAUG vs. LOUP — Risk / Return Rank

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

NAUG

NAUG Risk / Return Rank: 78
NAUG Sharpe Ratio Rank: 76
NAUG Sortino Ratio Rank: 78
NAUG Omega Ratio Rank: 81
NAUG Calmar Ratio Rank: 71
NAUG Martin Ratio Rank: 84

LOUP

LOUP Risk / Return Rank: 73
LOUP Sharpe Ratio Rank: 82
LOUP Sortino Ratio Rank: 72
LOUP Omega Ratio Rank: 69
LOUP Calmar Ratio Rank: 73
LOUP Martin Ratio Rank: 67

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.

NAUG vs. LOUP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Growth-100 Power Buffer ETF (NAUG) and Innovator Deepwater Frontier Tech ETF (LOUP). 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.

	NAUG	LOUP	Difference
Sharpe ratio: Return per unit of total volatility	2.42	2.65	-0.24
Sortino ratio: Return per unit of downside risk	3.41	3.20	+0.22
Omega ratio: Gain probability vs. loss probability	1.48	1.41	+0.07
Calmar ratio: Return relative to maximum drawdown	3.48	3.60	-0.12
Martin ratio: Return relative to average drawdown	16.99	12.17	+4.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NAUG vs. LOUP - Sharpe Ratio Comparison

The current NAUG Sharpe Ratio is 2.42, which is comparable to the LOUP Sharpe Ratio of 2.65. The chart below compares the historical Sharpe Ratios of NAUG and LOUP, 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

	NAUG	LOUP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.42	2.65	-0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.41	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.43	0.59	+0.84

Drawdowns

NAUG vs. LOUP - Drawdown Comparison

The maximum NAUG drawdown since its inception was -12.88%, smaller than the maximum LOUP drawdown of -58.68%. Use the drawdown chart below to compare losses from any high point for NAUG and LOUP.

Drawdown Indicators

	NAUG	LOUP	Difference
Max Drawdown Largest peak-to-trough decline	-12.88%	-58.68%	+45.80%
Max Drawdown (1Y) Largest decline over 1 year	-5.10%	-21.00%	+15.90%
Max Drawdown (3Y) Largest decline over 3 years	—	-35.23%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-55.63%	—
Current Drawdown Current decline from peak	0.00%	-1.16%	+1.16%
Average Drawdown Average peak-to-trough decline	-1.20%	-20.03%	+18.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.04%	6.19%	-5.15%

Volatility

NAUG vs. LOUP - Volatility Comparison

The current volatility for Innovator Growth-100 Power Buffer ETF (NAUG) is 0.61%, while Innovator Deepwater Frontier Tech ETF (LOUP) has a volatility of 7.74%. This indicates that NAUG experiences smaller price fluctuations and is considered to be less risky than LOUP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NAUG	LOUP	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.61%	7.74%	-7.13%
Volatility (6M) Calculated over the trailing 6-month period	5.53%	21.94%	-16.41%
Volatility (1Y) Calculated over the trailing 1-year period	7.35%	28.50%	-21.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.21%	32.38%	-21.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.21%	31.96%	-20.75%

NAUG vs. LOUP - Expense Ratio Comparison

NAUG has a 0.79% expense ratio, which is higher than LOUP's 0.70% expense ratio.

Dividends

NAUG vs. LOUP - Dividend Comparison

Neither NAUG nor LOUP has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both NAUG and LOUP in my portfolio?

NAUG and LOUP have a correlation of 0.75, 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 LOUP?

LOUP has higher volatility (7.74%) compared to NAUG (0.61%). In terms of maximum drawdown, NAUG dropped -12.88% vs LOUP's -58.68%.

Which ETF is better, NAUG or LOUP?

On 1-year performance, LOUP leads with 75.12% vs 17.67% for NAUG. On fees, LOUP is cheaper at 0.70% per year. On volatility, NAUG has been the lower-risk option at 0.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NAUG or LOUP?

Over the 1-year period, LOUP has performed better with a 75.12% return vs 17.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NAUG or LOUP?

LOUP is cheaper with a 0.70% expense ratio, compared with 0.79% for NAUG.

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

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

What is the main difference between NAUG and LOUP?

NAUG is categorized as Defined Outcome, while LOUP is Technology Equities. Their fees differ too: 0.79% for NAUG and 0.70% for LOUP.

Which has better risk-adjusted returns?

LOUP currently has the higher Sharpe Ratio (2.65 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.