PAUG vs. VTI

Last updated Jun 16, 2026

PAUG (Innovator U.S. Equity Power Buffer ETF - August) and VTI (Vanguard Total Stock Market 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 VTI is a Large Cap Blend Equities fund tracking the CRSP US Total Market Index. Both are passively managed. Over the past 5 years, PAUG returned 9.23%/yr vs 12.71%/yr for VTI. Their correlation of 0.92 suggests significant overlap in exposure. PAUG charges 0.79%/yr vs 0.03%/yr for VTI.

Performance

PAUG vs. VTI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Power Buffer ETF - August (PAUG) and Vanguard Total Stock Market ETF (VTI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PAUG achieves a 5.25% return, which is significantly lower than VTI's 11.46% return.

PAUG

• 1D: 0.40%
• 1M: 1.02%
• YTD: 5.25%
• 6M: 5.77%
• 1Y: 15.45%
• 3Y*: 13.76%
• 5Y*: 9.23%
• 10Y*: —

VTI

• 1D: 1.68%
• 1M: 2.70%
• YTD: 11.46%
• 6M: 11.76%
• 1Y: 28.40%
• 3Y*: 20.94%
• 5Y*: 12.71%
• 10Y*: 15.23%

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

PAUG vs. VTI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
PAUG Innovator U.S. Equity Power Buffer ETF - August	5.25%	12.34%	15.37%	17.71%	-6.85%	7.58%	9.82%	3.60%
VTI Vanguard Total Stock Market ETF	11.46%	17.10%	23.81%	26.05%	-19.52%	25.68%	21.08%	8.57%

Correlation

The correlation between PAUG and VTI is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Aug 1, 2019	0.92

The correlation between PAUG and VTI has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

PAUG vs. VTI - Sectors Allocation Comparison

Sectors	PAUG	VTI
Technology	38.4%	33.3%
Financial Services	11.0%	11.9%
Communication Services	10.8%	10.1%
Consumer Cyclical	10.0%	9.8%
Healthcare	8.4%	9.1%
Industrials	7.9%	9.5%
Consumer Defensive	4.6%	4.7%
Energy	3.2%	3.8%
Utilities	2.1%	2.7%
Real Estate	1.8%	2.4%
Basic Materials	1.7%	2.0%

Return for Risk

PAUG vs. VTI — Risk / Return Rank

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

PAUG

PAUG Risk / Return Rank: 90
PAUG Sharpe Ratio Rank: 90
PAUG Sortino Ratio Rank: 93
PAUG Omega Ratio Rank: 93
PAUG Calmar Ratio Rank: 80
PAUG Martin Ratio Rank: 92

VTI

VTI Risk / Return Rank: 77
VTI Sharpe Ratio Rank: 79
VTI Sortino Ratio Rank: 77
VTI Omega Ratio Rank: 78
VTI Calmar Ratio Rank: 70
VTI Martin Ratio Rank: 81

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.

PAUG vs. VTI - 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 Vanguard Total Stock Market ETF (VTI). 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	VTI	Difference
Sharpe ratio: Return per unit of total volatility	2.80	2.25	+0.55
Sortino ratio: Return per unit of downside risk	4.19	3.04	+1.16
Omega ratio: Gain probability vs. loss probability	1.60	1.41	+0.20
Calmar ratio: Return relative to maximum drawdown	3.92	3.20	+0.72
Martin ratio: Return relative to average drawdown	21.35	14.35	+7.01

PAUG vs. VTI - Sharpe Ratio Comparison

The current PAUG Sharpe Ratio is 2.80, which is comparable to the VTI Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of PAUG and VTI, 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

PAUG vs. VTI - Drawdown Comparison

The maximum PAUG drawdown since its inception was -17.88%, smaller than the maximum VTI drawdown of -55.45%. Use the drawdown chart below to compare losses from any high point for PAUG and VTI.

Drawdown Indicators

	PAUG	VTI	Difference
Max Drawdown Largest peak-to-trough decline	-17.88%	-55.45%	+37.57%
Max Drawdown (1Y) Largest decline over 1 year	-3.96%	-8.92%	+4.96%
Max Drawdown (3Y) Largest decline over 3 years	-10.45%	-19.30%	+8.85%
Max Drawdown (5Y) Largest decline over 5 years	-11.76%	-25.36%	+13.60%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.00%	—
Current Drawdown Current decline from peak	0.00%	-0.49%	+0.49%
Average Drawdown Average peak-to-trough decline	-1.81%	-8.02%	+6.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.72%	1.98%	-1.26%

Volatility

PAUG vs. VTI - Volatility Comparison

The current volatility for Innovator U.S. Equity Power Buffer ETF - August (PAUG) is 1.01%, while Vanguard Total Stock Market ETF (VTI) has a volatility of 4.74%. This indicates that PAUG experiences smaller price fluctuations and is considered to be less risky than VTI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PAUG	VTI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.01%	4.74%	-3.73%
Volatility (6M) Calculated over the trailing 6-month period	4.26%	9.94%	-5.68%
Volatility (1Y) Calculated over the trailing 1-year period	5.55%	12.69%	-7.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.72%	17.49%	-8.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.58%	18.34%	-7.76%

PAUG vs. VTI - Expense Ratio Comparison

PAUG has a 0.79% expense ratio, which is higher than VTI's 0.03% expense ratio.

Dividends

PAUG vs. VTI - Dividend Comparison

PAUG has not paid dividends to shareholders, while VTI's dividend yield for the trailing twelve months is around 1.01%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%	0.00%	0.00%
VTI Vanguard Total Stock Market ETF	1.01%	1.12%	1.27%	1.44%	1.66%	1.21%	1.42%	1.78%	2.04%	1.71%	1.92%	1.98%

Frequently Asked Questions

Can I hold both PAUG and VTI in my portfolio?

With a correlation of 0.94, PAUG and VTI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, PAUG or VTI?

VTI has higher volatility (4.74%) compared to PAUG (1.01%). In terms of maximum drawdown, PAUG dropped -17.88% vs VTI's -55.45%.

Which ETF is better, PAUG or VTI?

On 5-year performance, VTI leads with 12.71% vs 9.23% for PAUG. On fees, VTI is cheaper at 0.03% per year. On volatility, PAUG has been the lower-risk option at 1.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PAUG or VTI?

Over the 5-year period, VTI has performed better with a 12.71% return vs 9.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PAUG or VTI?

VTI is cheaper with a 0.03% expense ratio, compared with 0.79% for PAUG.

Which ETF pays a higher dividend yield, PAUG or VTI?

VTI has the higher dividend yield at 1.01%, compared with 0.00% for PAUG.

What is the main difference between PAUG and VTI?

PAUG is categorized as Defined Outcome, while VTI is Large Cap Blend Equities. PAUG tracks Cboe S&P 500 15% Buffer Protect August Series Index, while VTI tracks CRSP US Total Market Index. They also come from different issuers: Innovator and Vanguard. Their fees differ too: 0.79% for PAUG and 0.03% for VTI.

Which has better risk-adjusted returns?

PAUG currently has the higher Sharpe Ratio (2.80 vs 2.25), 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.