PFEB vs. BAMU

Last updated Jun 23, 2026

PFEB (Innovator U.S. Equity Power Buffer ETF - February) and BAMU (Brookstone Ultra-Short Bond ETF) are both exchange-traded funds - PFEB is a Defined Outcome fund tracking the S&P 500, while BAMU is a Ultrashort Bond fund actively managed by Brookstone. PFEB is passively managed, while BAMU is actively managed. Over the past year, PFEB returned 15.42% vs 2.91% for BAMU. At a correlation of -0.01, they often move in opposite directions. PFEB charges 0.79%/yr vs 1.09%/yr for BAMU.

Performance

PFEB vs. BAMU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Power Buffer ETF - February (PFEB) and Brookstone Ultra-Short Bond ETF (BAMU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PFEB achieves a 5.50% return, which is significantly higher than BAMU's 1.18% return.

PFEB

• 1D: -0.17%
• 1M: 0.40%
• YTD: 5.50%
• 6M: 5.60%
• 1Y: 15.42%
• 3Y*: 12.18%
• 5Y*: 8.69%
• 10Y*: —

BAMU

• 1D: 0.02%
• 1M: 0.16%
• YTD: 1.18%
• 6M: 1.23%
• 1Y: 2.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PFEB vs. BAMU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PFEB Innovator U.S. Equity Power Buffer ETF - February	5.50%	10.65%	12.71%	7.33%
BAMU Brookstone Ultra-Short Bond ETF	1.18%	3.21%	4.14%	1.20%

Correlation

The correlation between PFEB and BAMU is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.13
Correlation (All Time) Calculated using the full available price history since Sep 27, 2023	-0.01

The correlation between PFEB and BAMU shifts across timeframes, from -0.13 (1 year) to -0.01 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PFEB vs. BAMU — Risk / Return Rank

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

PFEB

PFEB Risk / Return Rank: 82
PFEB Sharpe Ratio Rank: 83
PFEB Sortino Ratio Rank: 88
PFEB Omega Ratio Rank: 88
PFEB Calmar Ratio Rank: 68
PFEB Martin Ratio Rank: 86

BAMU

BAMU Risk / Return Rank: 98
BAMU Sharpe Ratio Rank: 98
BAMU Sortino Ratio Rank: 98
BAMU Omega Ratio Rank: 98
BAMU Calmar Ratio Rank: 99
BAMU Martin Ratio Rank: 99

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.

PFEB vs. BAMU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Power Buffer ETF - February (PFEB) and Brookstone Ultra-Short Bond ETF (BAMU). 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.

	PFEB	BAMU	Difference
Sharpe ratio: Return per unit of total volatility	2.56	5.01	-2.45
Sortino ratio: Return per unit of downside risk	3.83	8.84	-5.00
Omega ratio: Gain probability vs. loss probability	1.52	2.43	-0.90
Calmar ratio: Return relative to maximum drawdown	3.29	24.72	-21.43
Martin ratio: Return relative to average drawdown	17.18	97.90	-80.71

PFEB vs. BAMU - Sharpe Ratio Comparison

The current PFEB Sharpe Ratio is 2.56, which is lower than the BAMU Sharpe Ratio of 5.01. The chart below compares the historical Sharpe Ratios of PFEB and BAMU, 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

PFEB vs. BAMU - Drawdown Comparison

The maximum PFEB drawdown since its inception was -19.98%, which is greater than BAMU's maximum drawdown of -0.36%. Use the drawdown chart below to compare losses from any high point for PFEB and BAMU.

Drawdown Indicators

	PFEB	BAMU	Difference
Max Drawdown Largest peak-to-trough decline	-19.98%	-0.36%	-19.62%
Max Drawdown (1Y) Largest decline over 1 year	-4.71%	-0.12%	-4.59%
Max Drawdown (3Y) Largest decline over 3 years	-10.58%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-11.05%	—	—
Current Drawdown Current decline from peak	-0.38%	0.00%	-0.38%
Average Drawdown Average peak-to-trough decline	-1.82%	-0.02%	-1.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.90%	0.03%	+0.87%

Volatility

PFEB vs. BAMU - Volatility Comparison

Innovator U.S. Equity Power Buffer ETF - February (PFEB) has a higher volatility of 1.79% compared to Brookstone Ultra-Short Bond ETF (BAMU) at 0.09%. This indicates that PFEB's price experiences larger fluctuations and is considered to be riskier than BAMU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PFEB	BAMU	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.79%	0.09%	+1.70%
Volatility (6M) Calculated over the trailing 6-month period	4.83%	0.40%	+4.43%
Volatility (1Y) Calculated over the trailing 1-year period	6.07%	0.58%	+5.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.26%	0.87%	+7.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.29%	0.87%	+10.42%

PFEB vs. BAMU - Expense Ratio Comparison

PFEB has a 0.79% expense ratio, which is lower than BAMU's 1.09% expense ratio.

Dividends

PFEB vs. BAMU - Dividend Comparison

PFEB has not paid dividends to shareholders, while BAMU's dividend yield for the trailing twelve months is around 3.05%.

Position	TTM	2025	2024	2023
BAMU Brookstone Ultra-Short Bond ETF	3.05%	3.20%	3.97%	0.84%
PFEB Innovator U.S. Equity Power Buffer ETF - February	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PFEB and BAMU in my portfolio?

PFEB and BAMU have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PFEB or BAMU?

PFEB has higher volatility (1.79%) compared to BAMU (0.09%). In terms of maximum drawdown, PFEB dropped -19.98% vs BAMU's -0.36%.

Which ETF is better, PFEB or BAMU?

On 1-year performance, PFEB leads with 15.42% vs 2.91% for BAMU. On fees, PFEB is cheaper at 0.79% per year. On volatility, BAMU has been the lower-risk option at 0.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PFEB or BAMU?

Over the 1-year period, PFEB has performed better with a 15.42% return vs 2.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PFEB or BAMU?

PFEB is cheaper with a 0.79% expense ratio, compared with 1.09% for BAMU.

Which ETF pays a higher dividend yield, PFEB or BAMU?

BAMU has the higher dividend yield at 3.05%, compared with 0.00% for PFEB.

What is the main difference between PFEB and BAMU?

PFEB is categorized as Defined Outcome, while BAMU is Ultrashort Bond. They also come from different issuers: Innovator and Brookstone. Their fees differ too: 0.79% for PFEB and 1.09% for BAMU.

Which has better risk-adjusted returns?

BAMU currently has the higher Sharpe Ratio (5.01 vs 2.56), 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.