POCT vs. SPUT

Last updated Jun 3, 2026

POCT (Innovator U.S. Equity Power Buffer ETF October) and SPUT (Innovator Equity Premium Income Daily PutWrite ETF) are both exchange-traded funds - POCT is a Defined Outcome fund tracking the Cboe S&P 500 15% Buffer Protect October Series Index, while SPUT is a Derivative Income fund actively managed by Innovator. POCT is passively managed, while SPUT is actively managed. Over the past year, POCT returned 15.20% vs 19.73% for SPUT. Their correlation of 0.89 suggests significant overlap in exposure. Both charge a 0.79% expense ratio.

Performance

POCT vs. SPUT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Power Buffer ETF October (POCT) and Innovator Equity Premium Income Daily PutWrite ETF (SPUT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, POCT achieves a 5.54% return, which is significantly lower than SPUT's 7.63% return.

POCT

• 1D: 0.10%
• 1M: 2.06%
• YTD: 5.54%
• 6M: 6.22%
• 1Y: 15.20%
• 3Y*: 12.24%
• 5Y*: 9.90%
• 10Y*: —

SPUT

• 1D: 0.19%
• 1M: 3.18%
• YTD: 7.63%
• 6M: 8.42%
• 1Y: 19.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

POCT vs. SPUT - Yearly Performance Comparison

	2026 (YTD)	2025
POCT Innovator U.S. Equity Power Buffer ETF October	5.54%	12.67%
SPUT Innovator Equity Premium Income Daily PutWrite ETF	7.63%	13.20%

Correlation

The correlation between POCT and SPUT is 0.88, 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	0.88
Correlation (All Time) Calculated using the full available price history since Mar 17, 2025	0.89

The correlation between POCT and SPUT has been stable across timeframes, ranging from 0.88 to 0.89 - a consistent structural relationship.

POCT vs. SPUT - Sectors Allocation Comparison

Sectors	POCT	SPUT
Technology	36.2%	35.7%
Financial Services	11.9%	11.1%
Communication Services	10.9%	11.7%
Consumer Cyclical	10.1%	10.2%
Healthcare	8.4%	8.7%
Industrials	8.1%	8.4%
Consumer Defensive	4.9%	4.8%
Energy	3.5%	3.6%
Utilities	2.3%	2.3%
Real Estate	1.9%	1.8%
Basic Materials	1.8%	1.8%

Return for Risk

POCT vs. SPUT — Risk / Return Rank

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

POCT

POCT Risk / Return Rank: 78
POCT Sharpe Ratio Rank: 75
POCT Sortino Ratio Rank: 78
POCT Omega Ratio Rank: 82
POCT Calmar Ratio Rank: 69
POCT Martin Ratio Rank: 85

SPUT

SPUT Risk / Return Rank: 87
SPUT Sharpe Ratio Rank: 82
SPUT Sortino Ratio Rank: 84
SPUT Omega Ratio Rank: 88
SPUT Calmar Ratio Rank: 88
SPUT Martin Ratio Rank: 92

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.

POCT vs. SPUT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Power Buffer ETF October (POCT) and Innovator Equity Premium Income Daily PutWrite ETF (SPUT). 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.

	POCT	SPUT	Difference
Sharpe ratio Return per unit of total volatility	2.48	2.74	-0.27
Sortino ratio Return per unit of downside risk	3.56	3.84	-0.28
Omega ratio Gain probability vs. loss probability	1.50	1.55	-0.05
Calmar ratio Return relative to maximum drawdown	3.53	5.23	-1.70
Martin ratio Return relative to average drawdown	18.14	23.91	-5.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

POCT vs. SPUT - Sharpe Ratio Comparison

The current POCT Sharpe Ratio is 2.48, which is comparable to the SPUT Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of POCT and SPUT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	POCT	SPUT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.48	2.74	-0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.25	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.88	1.58	-0.70

Drawdowns

POCT vs. SPUT - Drawdown Comparison

The maximum POCT drawdown since its inception was -18.80%, which is greater than SPUT's maximum drawdown of -10.55%. Use the drawdown chart below to compare losses from any high point for POCT and SPUT.

Drawdown Indicators

	POCT	SPUT	Difference
Max Drawdown Largest peak-to-trough decline	-18.80%	-10.55%	-8.25%
Max Drawdown (1Y) Largest decline over 1 year	-4.40%	-3.81%	-0.59%
Max Drawdown (3Y) Largest decline over 3 years	-10.22%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-10.22%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.50%	-0.88%	-0.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.86%	0.83%	+0.03%

Volatility

POCT vs. SPUT - Volatility Comparison

The current volatility for Innovator U.S. Equity Power Buffer ETF October (POCT) is 0.92%, while Innovator Equity Premium Income Daily PutWrite ETF (SPUT) has a volatility of 1.46%. This indicates that POCT experiences smaller price fluctuations and is considered to be less risky than SPUT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	POCT	SPUT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.92%	1.46%	-0.54%
Volatility (6M) Calculated over the trailing 6-month period	4.78%	5.46%	-0.68%
Volatility (1Y) Calculated over the trailing 1-year period	6.16%	7.22%	-1.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.94%	11.27%	-3.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.23%	11.27%	-1.04%

POCT vs. SPUT - Expense Ratio Comparison

Both POCT and SPUT have an expense ratio of 0.79%.

Dividends

POCT vs. SPUT - Dividend Comparison

POCT has not paid dividends to shareholders, while SPUT's dividend yield for the trailing twelve months is around 5.01%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
POCT Innovator U.S. Equity Power Buffer ETF October	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.21%
SPUT Innovator Equity Premium Income Daily PutWrite ETF	5.01%	4.66%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both POCT and SPUT in my portfolio?

POCT and SPUT have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, POCT or SPUT?

SPUT has higher volatility (1.46%) compared to POCT (0.92%). In terms of maximum drawdown, POCT dropped -18.80% vs SPUT's -10.55%.

Which ETF is better, POCT or SPUT?

On 1-year performance, SPUT leads with 19.73% vs 15.20% for POCT. Both ETFs have the same 0.79% expense ratio. On volatility, POCT has been the lower-risk option at 0.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, POCT or SPUT?

Over the 1-year period, SPUT has performed better with a 19.73% return vs 15.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, POCT or SPUT?

POCT and SPUT have the same expense ratio: 0.79% per year.

Which ETF pays a higher dividend yield, POCT or SPUT?

SPUT has the higher dividend yield at 5.01%, compared with 0.00% for POCT.

What is the main difference between POCT and SPUT?

POCT is categorized as Defined Outcome, while SPUT is Derivative Income.

Which has better risk-adjusted returns?

SPUT currently has the higher Sharpe Ratio (2.74 vs 2.48), 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.