PSEP vs. PAUG
Compare and contrast key facts about Innovator U.S. Equity Power Buffer ETF - September (PSEP) and Innovator U.S. Equity Power Buffer ETF - August (PAUG).
PSEP and PAUG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PSEP is a passively managed fund by Innovator that tracks the performance of the S&P 500 Index. It was launched on Aug 30, 2019. PAUG is a passively managed fund by Innovator that tracks the performance of the Cboe S&P 500 15% Buffer Protect August Series Index. It was launched on Aug 1, 2019. Both PSEP and PAUG 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
PSEP vs. PAUG - Performance Comparison
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PSEP vs. PAUG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
PSEP Innovator U.S. Equity Power Buffer ETF - September | -1.51% | 11.85% | 12.44% | 18.84% | -3.74% | 8.85% | 8.48% | 4.62% |
PAUG Innovator U.S. Equity Power Buffer ETF - August | -1.23% | 12.34% | 15.37% | 17.71% | -6.85% | 7.58% | 9.82% | 5.12% |
Returns By Period
In the year-to-date period, PSEP achieves a -1.51% return, which is significantly lower than PAUG's -1.23% return.
PSEP
- 1D
- 1.60%
- 1M
- -2.14%
- YTD
- -1.51%
- 6M
- 0.26%
- 1Y
- 12.11%
- 3Y*
- 11.96%
- 5Y*
- 8.31%
- 10Y*
- —
PAUG
- 1D
- 1.71%
- 1M
- -1.97%
- YTD
- -1.23%
- 6M
- 0.59%
- 1Y
- 13.08%
- 3Y*
- 13.14%
- 5Y*
- 8.07%
- 10Y*
- —
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PSEP vs. PAUG - Expense Ratio Comparison
Both PSEP and PAUG have an expense ratio of 0.79%.
Return for Risk
PSEP vs. PAUG — Risk / Return Rank
PSEP
PAUG
PSEP vs. PAUG - 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 Innovator U.S. Equity Power Buffer ETF - August (PAUG). 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 | PAUG | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.26 | 1.30 | -0.04 |
Sortino ratioReturn per unit of downside risk | 1.89 | 1.94 | -0.05 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.33 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.84 | 1.88 | -0.04 |
Martin ratioReturn relative to average drawdown | 9.93 | 10.86 | -0.93 |
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
| PSEP | PAUG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.26 | 1.30 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.97 | 0.94 | +0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.87 | 0.80 | +0.07 |
Correlation
The correlation between PSEP and PAUG is 0.90, 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
PSEP vs. PAUG - Dividend Comparison
Neither PSEP nor PAUG has paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
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% |
PAUG Innovator U.S. Equity Power Buffer ETF - August | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.33% |
Drawdowns
PSEP vs. PAUG - Drawdown Comparison
The maximum PSEP drawdown since its inception was -17.90%, roughly equal to the maximum PAUG drawdown of -17.88%. Use the drawdown chart below to compare losses from any high point for PSEP and PAUG.
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Drawdown Indicators
| PSEP | PAUG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.90% | -17.88% | -0.02% |
Max Drawdown (1Y)Largest decline over 1 year | -6.73% | -7.15% | +0.42% |
Max Drawdown (5Y)Largest decline over 5 years | -9.92% | -11.76% | +1.84% |
Current DrawdownCurrent decline from peak | -2.55% | -2.31% | -0.24% |
Average DrawdownAverage peak-to-trough decline | -1.60% | -1.85% | +0.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.25% | 1.24% | +0.01% |
Volatility
PSEP vs. PAUG - Volatility Comparison
Innovator U.S. Equity Power Buffer ETF - September (PSEP) and Innovator U.S. Equity Power Buffer ETF - August (PAUG) have volatilities of 2.93% and 2.92%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PSEP | PAUG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.93% | 2.92% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 4.63% | 4.41% | +0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.66% | 10.14% | -0.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.59% | 8.67% | -0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.23% | 10.71% | -0.48% |