NOCT vs. AIOO
NOCT (Innovator Growth-100 Power Buffer ETF - October) and AIOO (AllianzIM U.S. Equity Buffer100 Protection ETF) are both Defined Outcome funds. Both are actively managed. A 0.69 correlation means they provide meaningful diversification when combined. NOCT charges 0.79%/yr vs 0.64%/yr for AIOO.
Performance
NOCT vs. AIOO - Performance Comparison
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Returns By Period
In the year-to-date period, NOCT achieves a 7.61% return, which is significantly higher than AIOO's 2.34% return.
NOCT
- 1D
- -0.12%
- 1M
- 2.54%
- YTD
- 7.61%
- 6M
- 7.69%
- 1Y
- 17.36%
- 3Y*
- 14.98%
- 5Y*
- 10.46%
- 10Y*
- —
AIOO
- 1D
- -0.13%
- 1M
- 1.13%
- YTD
- 2.34%
- 6M
- 2.33%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NOCT vs. AIOO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NOCT Innovator Growth-100 Power Buffer ETF - October | 7.61% | 6.72% |
AIOO AllianzIM U.S. Equity Buffer100 Protection ETF | 2.34% | 2.67% |
Correlation
The correlation between NOCT and AIOO is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jul 2, 2025 | 0.69 |
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Return for Risk
NOCT vs. AIOO — Risk / Return Rank
NOCT
AIOO
NOCT vs. AIOO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Growth-100 Power Buffer ETF - October (NOCT) 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.
| NOCT | AIOO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.46 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.99 | — | — |
| Martin ratioReturn relative to average drawdown | 13.90 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NOCT | AIOO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.31 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.96 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.01 | 2.79 | -1.78 |
Drawdowns
NOCT vs. AIOO - Drawdown Comparison
The maximum NOCT drawdown since its inception was -16.21%, which is greater than AIOO's maximum drawdown of -0.74%. Use the drawdown chart below to compare losses from any high point for NOCT and AIOO.
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Drawdown Indicators
| NOCT | AIOO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.21% | -0.74% | -15.47% |
Max Drawdown (1Y)Largest decline over 1 year | -5.84% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -12.70% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -16.21% | — | — |
Current DrawdownCurrent decline from peak | -0.16% | -0.13% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -2.34% | -0.17% | -2.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.25% | — | — |
Volatility
NOCT vs. AIOO - Volatility Comparison
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Volatility by Period
| NOCT | AIOO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.01% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 5.90% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 7.55% | 1.99% | +5.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.93% | 1.99% | +8.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.19% | 1.99% | +9.20% |
NOCT vs. AIOO - Expense Ratio Comparison
NOCT has a 0.79% expense ratio, which is higher than AIOO's 0.64% expense ratio.
Dividends
NOCT vs. AIOO - Dividend Comparison
Neither NOCT nor AIOO has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
AIOO AllianzIM U.S. Equity Buffer100 Protection ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NOCT Innovator Growth-100 Power Buffer ETF - October | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.07% |
Frequently Asked Questions
NOCT and AIOO have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AIOO is cheaper at 0.64% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AIOO is cheaper with a 0.64% expense ratio, compared with 0.79% for NOCT.
NOCT and AIOO have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Innovator and Allianz. Their fees differ too: 0.79% for NOCT and 0.64% for AIOO.
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