POCT vs. UGA
POCT (Innovator U.S. Equity Power Buffer ETF October) and UGA (United States Gasoline Fund LP) are both exchange-traded funds - POCT is a Defined Outcome fund tracking the Cboe S&P 500 15% Buffer Protect October Series Index, while UGA is a Oil & Gas fund tracking the Front Month Unleaded Gasoline. Both are passively managed. Over the past 5 years, POCT returned 9.90%/yr vs 25.18%/yr for UGA. At a 0.14 correlation, their price movements are largely independent. POCT charges 0.79%/yr vs 0.75%/yr for UGA.
Performance
POCT vs. UGA - Performance Comparison
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Returns By Period
In the year-to-date period, POCT achieves a 5.54% return, which is significantly lower than UGA's 75.83% return.
POCT
- 1D
- 0.10%
- 1M
- 2.06%
- YTD
- 5.54%
- 6M
- 6.22%
- 1Y
- 15.20%
- 3Y*
- 12.24%
- 5Y*
- 9.90%
- 10Y*
- —
UGA
- 1D
- 1.74%
- 1M
- -8.95%
- YTD
- 75.83%
- 6M
- 64.53%
- 1Y
- 82.09%
- 3Y*
- 22.29%
- 5Y*
- 25.18%
- 10Y*
- 14.46%
POCT vs. UGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
POCT Innovator U.S. Equity Power Buffer ETF October | 5.54% | 11.00% | 9.54% | 20.12% | -1.26% | 9.46% | 10.40% | 12.80% | -7.12% |
UGA United States Gasoline Fund LP | 75.83% | -2.00% | 3.77% | 1.27% | 46.34% | 68.49% | -24.88% | 41.25% | -37.93% |
Correlation
The correlation between POCT and UGA is -0.28, 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 | -0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Oct 2, 2018 | 0.14 |
The correlation between POCT and UGA shifts across timeframes, from -0.28 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
POCT vs. UGA — Risk / Return Rank
POCT
UGA
POCT vs. UGA - 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 United States Gasoline Fund LP (UGA). 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 | UGA | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.48 | 2.35 | +0.13 |
Sortino ratioReturn per unit of downside risk | 3.56 | 2.78 | +0.79 |
Omega ratioGain probability vs. loss probability | 1.50 | 1.38 | +0.12 |
Calmar ratioReturn relative to maximum drawdown | 3.53 | 5.82 | -2.30 |
Martin ratioReturn relative to average drawdown | 18.14 | 14.25 | +3.89 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| POCT | UGA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.48 | 2.35 | +0.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.25 | 0.74 | +0.52 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.39 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.88 | 0.12 | +0.76 |
Drawdowns
POCT vs. UGA - Drawdown Comparison
The maximum POCT drawdown since its inception was -18.80%, smaller than the maximum UGA drawdown of -86.59%. Use the drawdown chart below to compare losses from any high point for POCT and UGA.
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Drawdown Indicators
| POCT | UGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.80% | -86.59% | +67.79% |
Max Drawdown (1Y)Largest decline over 1 year | -4.40% | -14.88% | +10.48% |
Max Drawdown (3Y)Largest decline over 3 years | -10.22% | -26.68% | +16.46% |
Max Drawdown (5Y)Largest decline over 5 years | -10.22% | -38.11% | +27.89% |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.89% | — |
Current DrawdownCurrent decline from peak | 0.00% | -12.18% | +12.18% |
Average DrawdownAverage peak-to-trough decline | -1.50% | -36.77% | +35.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.86% | 6.08% | -5.22% |
Volatility
POCT vs. UGA - Volatility Comparison
The current volatility for Innovator U.S. Equity Power Buffer ETF October (POCT) is 0.92%, while United States Gasoline Fund LP (UGA) has a volatility of 12.41%. This indicates that POCT experiences smaller price fluctuations and is considered to be less risky than UGA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| POCT | UGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.92% | 12.41% | -11.49% |
Volatility (6M)Calculated over the trailing 6-month period | 4.78% | 30.41% | -25.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.16% | 35.21% | -29.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.94% | 34.38% | -26.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.23% | 37.27% | -27.04% |
POCT vs. UGA - Expense Ratio Comparison
POCT has a 0.79% expense ratio, which is higher than UGA's 0.75% expense ratio.
Dividends
POCT vs. UGA - Dividend Comparison
Neither POCT nor UGA has paid dividends to shareholders.
| 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% |
UGA United States Gasoline Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
POCT and UGA have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGA has higher volatility (12.41%) compared to POCT (0.92%). In terms of maximum drawdown, POCT dropped -18.80% vs UGA's -86.59%.
On 5-year performance, UGA leads with 25.18% vs 9.90% for POCT. On fees, UGA is cheaper at 0.75% per year. 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.
Over the 5-year period, UGA has performed better with a 25.18% return vs 9.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UGA is cheaper with a 0.75% expense ratio, compared with 0.79% for POCT.
POCT and UGA have nearly identical dividend yields, around 0.00%.
POCT is categorized as Defined Outcome, while UGA is Oil & Gas. POCT tracks Cboe S&P 500 15% Buffer Protect October Series Index, while UGA tracks Front Month Unleaded Gasoline. They also come from different issuers: Innovator and Concierge Technologies. Their fees differ too: 0.79% for POCT and 0.75% for UGA.
POCT currently has the higher Sharpe Ratio (2.48 vs 2.35), 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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