POCT vs. XXXX

Last updated Jun 23, 2026

POCT (Innovator U.S. Equity Power Buffer ETF October) and XXXX (MAX S&P 500 4X Leveraged ETN) are both exchange-traded funds - POCT is a Defined Outcome fund tracking the Cboe S&P 500 15% Buffer Protect October Series Index, while XXXX is a Leveraged Equities fund tracking the S&P 500 Index (400%). Both are passively managed. Over the past year, POCT returned 14.53% vs 77.72% for XXXX. Their correlation of 0.90 suggests significant overlap in exposure. POCT charges 0.79%/yr vs 2.95%/yr for XXXX.

Performance

POCT vs. XXXX - 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 MAX S&P 500 4X Leveraged ETN (XXXX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, POCT achieves a 5.35% return, which is significantly lower than XXXX's 20.71% return.

POCT

• 1D: -0.02%
• 1M: 0.54%
• YTD: 5.35%
• 6M: 5.34%
• 1Y: 14.53%
• 3Y*: 11.75%
• 5Y*: 9.75%
• 10Y*: —

XXXX

• 1D: -1.40%
• 1M: -3.10%
• YTD: 20.71%
• 6M: 17.73%
• 1Y: 77.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

POCT vs. XXXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
POCT Innovator U.S. Equity Power Buffer ETF October	5.35%	11.00%	9.54%	2.03%
XXXX MAX S&P 500 4X Leveraged ETN	20.71%	17.36%	61.36%	16.77%

Correlation

The correlation between POCT and XXXX is 0.93, 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	0.93
Correlation (All Time) Calculated using the full available price history since Dec 5, 2023	0.90

The correlation between POCT and XXXX has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

Return for Risk

POCT vs. XXXX — Risk / Return Rank

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

POCT

POCT Risk / Return Rank: 79
POCT Sharpe Ratio Rank: 77
POCT Sortino Ratio Rank: 80
POCT Omega Ratio Rank: 83
POCT Calmar Ratio Rank: 69
POCT Martin Ratio Rank: 84

XXXX

XXXX Risk / Return Rank: 44
XXXX Sharpe Ratio Rank: 47
XXXX Sortino Ratio Rank: 41
XXXX Omega Ratio Rank: 43
XXXX Calmar Ratio Rank: 43
XXXX Martin Ratio Rank: 48

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. XXXX - 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 MAX S&P 500 4X Leveraged ETN (XXXX). 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.

	POCT	XXXX	Difference
Sharpe ratio: Return per unit of total volatility	2.37	1.59	+0.78
Sortino ratio: Return per unit of downside risk	3.38	2.05	+1.33
Omega ratio: Gain probability vs. loss probability	1.47	1.27	+0.20
Calmar ratio: Return relative to maximum drawdown	3.32	2.10	+1.22
Martin ratio: Return relative to average drawdown	16.85	7.82	+9.03

POCT vs. XXXX - Sharpe Ratio Comparison

The current POCT Sharpe Ratio is 2.37, which is higher than the XXXX Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of POCT and XXXX, 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

POCT vs. XXXX - Drawdown Comparison

The maximum POCT drawdown since its inception was -18.80%, smaller than the maximum XXXX drawdown of -62.27%. Use the drawdown chart below to compare losses from any high point for POCT and XXXX.

Drawdown Indicators

	POCT	XXXX	Difference
Max Drawdown Largest peak-to-trough decline	-18.80%	-62.27%	+43.47%
Max Drawdown (1Y) Largest decline over 1 year	-4.40%	-37.25%	+32.85%
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	-0.41%	-9.34%	+8.93%
Average Drawdown Average peak-to-trough decline	-1.49%	-11.55%	+10.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.86%	9.97%	-9.11%

Volatility

POCT vs. XXXX - Volatility Comparison

The current volatility for Innovator U.S. Equity Power Buffer ETF October (POCT) is 1.72%, while MAX S&P 500 4X Leveraged ETN (XXXX) has a volatility of 18.72%. This indicates that POCT experiences smaller price fluctuations and is considered to be less risky than XXXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	POCT	XXXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.72%	18.72%	-17.00%
Volatility (6M) Calculated over the trailing 6-month period	4.95%	38.88%	-33.93%
Volatility (1Y) Calculated over the trailing 1-year period	6.18%	49.23%	-43.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.97%	61.12%	-53.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.21%	61.12%	-50.91%

POCT vs. XXXX - Expense Ratio Comparison

POCT has a 0.79% expense ratio, which is lower than XXXX's 2.95% expense ratio.

Dividends

POCT vs. XXXX - Dividend Comparison

Neither POCT nor XXXX 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%
XXXX MAX S&P 500 4X Leveraged ETN	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both POCT and XXXX in my portfolio?

With a correlation of 0.93, POCT and XXXX 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, POCT or XXXX?

XXXX has higher volatility (18.72%) compared to POCT (1.72%). In terms of maximum drawdown, POCT dropped -18.80% vs XXXX's -62.27%.

Which ETF is better, POCT or XXXX?

On 1-year performance, XXXX leads with 77.72% vs 14.53% for POCT. On fees, POCT is cheaper at 0.79% per year. On volatility, POCT has been the lower-risk option at 1.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, POCT or XXXX?

Over the 1-year period, XXXX has performed better with a 77.72% return vs 14.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, POCT or XXXX?

POCT is cheaper with a 0.79% expense ratio, compared with 2.95% for XXXX.

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

POCT and XXXX have nearly identical dividend yields, around 0.00%.

What is the main difference between POCT and XXXX?

POCT is categorized as Defined Outcome, while XXXX is Leveraged Equities. POCT tracks Cboe S&P 500 15% Buffer Protect October Series Index, while XXXX tracks S&P 500 Index (400%). They also come from different issuers: Innovator and Max. Their fees differ too: 0.79% for POCT and 2.95% for XXXX.

Which has better risk-adjusted returns?

POCT currently has the higher Sharpe Ratio (2.37 vs 1.59), 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.