PMAY vs. PJUL
Compare and contrast key facts about Innovator U.S. Equity Power Buffer ETF - May (PMAY) and Innovator U.S. Equity Power Buffer ETF - July (PJUL).
PMAY and PJUL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PMAY is a passively managed fund by Innovator that tracks the performance of the S&P 500 Price Return Index. It was launched on Apr 30, 2020. PJUL is a passively managed fund by Innovator that tracks the performance of the Cboe S&P 500 Buffer Protect Index July. It was launched on Aug 7, 2018. Both PMAY and PJUL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
PMAY vs. PJUL - Performance Comparison
Loading graphics...
PMAY vs. PJUL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
PMAY Innovator U.S. Equity Power Buffer ETF - May | 0.86% | 10.26% | 14.08% | 12.05% | -8.08% | 7.80% | 11.97% |
PJUL Innovator U.S. Equity Power Buffer ETF - July | -0.60% | 12.78% | 13.76% | 19.87% | -2.08% | 7.20% | 12.78% |
Returns By Period
In the year-to-date period, PMAY achieves a 0.86% return, which is significantly higher than PJUL's -0.60% return.
PMAY
- 1D
- -0.03%
- 1M
- -0.07%
- YTD
- 0.86%
- 6M
- 2.63%
- 1Y
- 11.12%
- 3Y*
- 11.48%
- 5Y*
- 6.72%
- 10Y*
- —
PJUL
- 1D
- 0.40%
- 1M
- -1.41%
- YTD
- -0.60%
- 6M
- 1.12%
- 1Y
- 14.39%
- 3Y*
- 13.41%
- 5Y*
- 9.46%
- 10Y*
- —
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
PMAY vs. PJUL - Expense Ratio Comparison
Both PMAY and PJUL have an expense ratio of 0.79%.
Return for Risk
PMAY vs. PJUL — Risk / Return Rank
PMAY
PJUL
PMAY vs. PJUL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Power Buffer ETF - May (PMAY) and Innovator U.S. Equity Power Buffer ETF - July (PJUL). 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.
| PMAY | PJUL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.06 | 1.43 | -0.37 |
Sortino ratioReturn per unit of downside risk | 1.62 | 2.17 | -0.55 |
Omega ratioGain probability vs. loss probability | 1.36 | 1.36 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 1.41 | 2.12 | -0.71 |
Martin ratioReturn relative to average drawdown | 8.94 | 11.94 | -3.00 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| PMAY | PJUL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.06 | 1.43 | -0.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.78 | 1.11 | -0.33 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.95 | 0.83 | +0.11 |
Correlation
The correlation between PMAY and PJUL is 0.87, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
PMAY vs. PJUL - Dividend Comparison
Neither PMAY nor PJUL has paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
PMAY Innovator U.S. Equity Power Buffer ETF - May | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PJUL Innovator U.S. Equity Power Buffer ETF - July | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.82% |
Drawdowns
PMAY vs. PJUL - Drawdown Comparison
The maximum PMAY drawdown since its inception was -13.05%, smaller than the maximum PJUL drawdown of -18.17%. Use the drawdown chart below to compare losses from any high point for PMAY and PJUL.
Loading graphics...
Drawdown Indicators
| PMAY | PJUL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.05% | -18.17% | +5.12% |
Max Drawdown (1Y)Largest decline over 1 year | -8.18% | -6.99% | -1.19% |
Max Drawdown (5Y)Largest decline over 5 years | -13.05% | -10.69% | -2.36% |
Current DrawdownCurrent decline from peak | -0.15% | -1.68% | +1.53% |
Average DrawdownAverage peak-to-trough decline | -2.17% | -1.50% | -0.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.29% | 1.24% | +0.05% |
Volatility
PMAY vs. PJUL - Volatility Comparison
The current volatility for Innovator U.S. Equity Power Buffer ETF - May (PMAY) is 2.18%, while Innovator U.S. Equity Power Buffer ETF - July (PJUL) has a volatility of 2.93%. This indicates that PMAY experiences smaller price fluctuations and is considered to be less risky than PJUL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| PMAY | PJUL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.18% | 2.93% | -0.75% |
Volatility (6M)Calculated over the trailing 6-month period | 2.89% | 4.17% | -1.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.56% | 10.09% | +0.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.69% | 8.58% | +0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.50% | 10.12% | -1.62% |