PAUG vs. BINC
PAUG (Innovator U.S. Equity Power Buffer ETF - August) and BINC (iShares Flexible Income Active ETF) are both exchange-traded funds - PAUG is a Defined Outcome fund tracking the Cboe S&P 500 15% Buffer Protect August Series Index, while BINC is a Multisector Bonds fund actively managed by iShares. PAUG is passively managed, while BINC is actively managed. Over the past 3 years, PAUG returned 13.76%/yr vs 7.04%/yr for BINC. At a 0.41 correlation, their price movements are largely independent. PAUG charges 0.79%/yr vs 0.40%/yr for BINC.
Performance
PAUG vs. BINC - Performance Comparison
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Returns By Period
In the year-to-date period, PAUG achieves a 5.25% return, which is significantly higher than BINC's 1.29% return.
PAUG
- 1D
- 0.40%
- 1M
- 1.02%
- YTD
- 5.25%
- 6M
- 5.77%
- 1Y
- 15.45%
- 3Y*
- 13.76%
- 5Y*
- 9.23%
- 10Y*
- —
BINC
- 1D
- 0.15%
- 1M
- 0.92%
- YTD
- 1.29%
- 6M
- 1.78%
- 1Y
- 5.90%
- 3Y*
- 7.04%
- 5Y*
- —
- 10Y*
- —
PAUG vs. BINC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PAUG Innovator U.S. Equity Power Buffer ETF - August | 5.25% | 12.34% | 15.37% | 12.17% |
BINC iShares Flexible Income Active ETF | 1.29% | 7.57% | 5.76% | 7.12% |
Correlation
The correlation between PAUG and BINC is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since May 23, 2023 | 0.41 |
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Return for Risk
PAUG vs. BINC — Risk / Return Rank
PAUG
BINC
PAUG vs. BINC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Power Buffer ETF - August (PAUG) and iShares Flexible Income Active ETF (BINC). 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.
| PAUG | BINC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.21 | ||
| Sortino ratioReturn per unit of downside risk | +0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.60 | 1.52 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.92 | 2.20 | +1.72 |
| Martin ratioReturn relative to average drawdown | 21.35 | 8.60 | +12.75 |
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Drawdowns
PAUG vs. BINC - Drawdown Comparison
The maximum PAUG drawdown since its inception was -17.88%, which is greater than BINC's maximum drawdown of -2.69%. Use the drawdown chart below to compare losses from any high point for PAUG and BINC.
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Drawdown Indicators
| PAUG | BINC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.88% | -2.69% | -15.19% |
Max Drawdown (1Y)Largest decline over 1 year | -3.96% | -2.69% | -1.27% |
Max Drawdown (3Y)Largest decline over 3 years | -10.45% | -2.69% | -7.76% |
Max Drawdown (5Y)Largest decline over 5 years | -11.76% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.10% | +0.10% |
Average DrawdownAverage peak-to-trough decline | -1.81% | -0.36% | -1.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.72% | 0.69% | +0.03% |
Volatility
PAUG vs. BINC - Volatility Comparison
Innovator U.S. Equity Power Buffer ETF - August (PAUG) has a higher volatility of 1.01% compared to iShares Flexible Income Active ETF (BINC) at 0.75%. This indicates that PAUG's price experiences larger fluctuations and is considered to be riskier than BINC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PAUG | BINC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.01% | 0.75% | +0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 4.26% | 1.87% | +2.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.55% | 2.30% | +3.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.72% | 2.99% | +5.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.58% | 2.99% | +7.59% |
PAUG vs. BINC - Expense Ratio Comparison
PAUG has a 0.79% expense ratio, which is higher than BINC's 0.40% expense ratio.
Dividends
PAUG vs. BINC - Dividend Comparison
PAUG has not paid dividends to shareholders, while BINC's dividend yield for the trailing twelve months is around 5.84%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BINC iShares Flexible Income Active ETF | 5.84% | 5.86% | 6.14% | 3.13% | 0.00% | 0.00% | 0.00% | 0.00% |
PAUG Innovator U.S. Equity Power Buffer ETF - August | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.33% |
Frequently Asked Questions
PAUG and BINC have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PAUG has higher volatility (1.01%) compared to BINC (0.75%). In terms of maximum drawdown, PAUG dropped -17.88% vs BINC's -2.69%.
On 3-year performance, PAUG leads with 13.76% vs 7.04% for BINC. On fees, BINC is cheaper at 0.40% per year. On volatility, BINC has been the lower-risk option at 0.75%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, PAUG has performed better with a 13.76% return vs 7.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BINC is cheaper with a 0.40% expense ratio, compared with 0.79% for PAUG.
BINC has the higher dividend yield at 5.84%, compared with 0.00% for PAUG.
PAUG is categorized as Defined Outcome, while BINC is Multisector Bonds. They also come from different issuers: Innovator and iShares. Their fees differ too: 0.79% for PAUG and 0.40% for BINC.
PAUG currently has the higher Sharpe Ratio (2.80 vs 2.58), 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.
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