PSEP vs. ARR

Last updated Jun 3, 2026

PSEP (Innovator U.S. Equity Power Buffer ETF - September) is Defined Outcome fund tracking the S&P 500 Index, while ARR (ARMOUR Residential REIT, Inc.) is a stock. Over the past 5 years, PSEP returned 9.42%/yr vs -7.96%/yr for ARR. At a 0.46 correlation, their price movements are largely independent.

Performance

PSEP vs. ARR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Power Buffer ETF - September (PSEP) and ARMOUR Residential REIT, Inc. (ARR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSEP achieves a 4.99% return, which is significantly higher than ARR's 4.40% return.

PSEP

• 1D: -0.00%
• 1M: 1.57%
• YTD: 4.99%
• 6M: 5.81%
• 1Y: 15.22%
• 3Y*: 13.19%
• 5Y*: 9.42%
• 10Y*: —

ARR

• 1D: 0.76%
• 1M: -1.29%
• YTD: 4.40%
• 6M: 8.29%
• 1Y: 27.77%
• 3Y*: 4.05%
• 5Y*: -7.96%
• 10Y*: -3.81%

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

PSEP vs. ARR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
PSEP Innovator U.S. Equity Power Buffer ETF - September	4.99%	11.85%	12.44%	18.84%	-3.74%	8.85%	8.48%	4.62%
ARR ARMOUR Residential REIT, Inc.	4.40%	11.69%	13.17%	-15.43%	-32.01%	1.11%	-33.13%	14.22%

Correlation

The correlation between PSEP and ARR is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (All Time) Calculated using the full available price history since Sep 4, 2019	0.46

The correlation between PSEP and ARR shifts across timeframes, from 0.34 (1 year) to 0.46 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PSEP vs. ARR — Risk / Return Rank

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

PSEP

PSEP Risk / Return Rank: 83
PSEP Sharpe Ratio Rank: 81
PSEP Sortino Ratio Rank: 86
PSEP Omega Ratio Rank: 87
PSEP Calmar Ratio Rank: 74
PSEP Martin Ratio Rank: 89

ARR

ARR Risk / Return Rank: 70
ARR Sharpe Ratio Rank: 75
ARR Sortino Ratio Rank: 67
ARR Omega Ratio Rank: 68
ARR Calmar Ratio Rank: 69
ARR Martin Ratio Rank: 73

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.

PSEP vs. ARR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Power Buffer ETF - September (PSEP) and ARMOUR Residential REIT, Inc. (ARR). 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.

	PSEP	ARR	Difference
Sharpe ratio Return per unit of total volatility	2.68	1.19	+1.49
Sortino ratio Return per unit of downside risk	3.95	1.60	+2.35
Omega ratio Gain probability vs. loss probability	1.55	1.22	+0.33
Calmar ratio Return relative to maximum drawdown	3.79	1.58	+2.21
Martin ratio Return relative to average drawdown	20.09	4.46	+15.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PSEP vs. ARR - Sharpe Ratio Comparison

The current PSEP Sharpe Ratio is 2.68, which is higher than the ARR Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of PSEP and ARR, 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

	PSEP	ARR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.68	1.19	+1.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.10	-0.28	+1.38
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.11	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.96	-0.11	+1.07

Drawdowns

PSEP vs. ARR - Drawdown Comparison

The maximum PSEP drawdown since its inception was -17.90%, smaller than the maximum ARR drawdown of -80.12%. Use the drawdown chart below to compare losses from any high point for PSEP and ARR.

Drawdown Indicators

	PSEP	ARR	Difference
Max Drawdown Largest peak-to-trough decline	-17.90%	-80.12%	+62.22%
Max Drawdown (1Y) Largest decline over 1 year	-4.08%	-16.79%	+12.71%
Max Drawdown (3Y) Largest decline over 3 years	-9.92%	-45.79%	+35.87%
Max Drawdown (5Y) Largest decline over 5 years	-9.92%	-66.68%	+56.76%
Max Drawdown (10Y) Largest decline over 10 years	—	-78.34%	—
Current Drawdown Current decline from peak	-0.00%	-61.06%	+61.06%
Average Drawdown Average peak-to-trough decline	-1.56%	-33.11%	+31.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.77%	5.94%	-5.17%

Volatility

PSEP vs. ARR - Volatility Comparison

The current volatility for Innovator U.S. Equity Power Buffer ETF - September (PSEP) is 0.74%, while ARMOUR Residential REIT, Inc. (ARR) has a volatility of 5.61%. This indicates that PSEP experiences smaller price fluctuations and is considered to be less risky than ARR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSEP	ARR	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.74%	5.61%	-4.87%
Volatility (6M) Calculated over the trailing 6-month period	4.25%	18.03%	-13.78%
Volatility (1Y) Calculated over the trailing 1-year period	5.71%	23.42%	-17.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.61%	29.03%	-20.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.12%	34.22%	-24.10%

Dividends

PSEP vs. ARR - Dividend Comparison

PSEP has not paid dividends to shareholders, while ARR's dividend yield for the trailing twelve months is around 16.69%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARR ARMOUR Residential REIT, Inc.	16.69%	16.28%	15.27%	25.88%	21.31%	12.23%	11.12%	12.09%	11.12%	8.86%	13.92%	17.88%
PSEP Innovator U.S. Equity Power Buffer ETF - September	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PSEP and ARR in my portfolio?

PSEP and ARR have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSEP or ARR?

ARR has higher volatility (5.61%) compared to PSEP (0.74%). In terms of maximum drawdown, PSEP dropped -17.90% vs ARR's -80.12%.

Which has better risk-adjusted returns?

PSEP currently has the higher Sharpe Ratio (2.68 vs 1.19), 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.