PSEP vs. UAUG
Compare and contrast key facts about Innovator U.S. Equity Power Buffer ETF - September (PSEP) and Innovator U.S. Equity Ultra Buffer ETF - August (UAUG).
PSEP and UAUG 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. UAUG is a passively managed fund by Innovator that tracks the performance of the S&P 500. It was launched on Jul 31, 2019. Both PSEP and UAUG 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. UAUG - Performance Comparison
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PSEP vs. UAUG - 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% |
UAUG Innovator U.S. Equity Ultra Buffer ETF - August | -1.44% | 12.42% | 15.51% | 17.71% | -10.81% | 4.94% | 7.95% | 4.44% |
Returns By Period
The year-to-date returns for both investments are quite close, with PSEP having a -1.51% return and UAUG slightly higher at -1.44%.
PSEP
- 1D
- 1.60%
- 1M
- -2.14%
- YTD
- -1.51%
- 6M
- 0.26%
- 1Y
- 12.11%
- 3Y*
- 11.96%
- 5Y*
- 8.31%
- 10Y*
- —
UAUG
- 1D
- 1.51%
- 1M
- -2.18%
- YTD
- -1.44%
- 6M
- 0.09%
- 1Y
- 13.65%
- 3Y*
- 13.31%
- 5Y*
- 6.83%
- 10Y*
- —
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PSEP vs. UAUG - Expense Ratio Comparison
Both PSEP and UAUG have an expense ratio of 0.79%.
Return for Risk
PSEP vs. UAUG — Risk / Return Rank
PSEP
UAUG
PSEP vs. UAUG - 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 Ultra Buffer ETF - August (UAUG). 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 | UAUG | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.26 | 1.45 | -0.20 |
Sortino ratioReturn per unit of downside risk | 1.89 | 2.14 | -0.26 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.35 | -0.04 |
Calmar ratioReturn relative to maximum drawdown | 1.84 | 2.24 | -0.39 |
Martin ratioReturn relative to average drawdown | 9.93 | 11.20 | -1.27 |
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 | UAUG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.26 | 1.45 | -0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.97 | 0.87 | +0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.87 | 0.82 | +0.06 |
Correlation
The correlation between PSEP and UAUG is 0.88, 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. UAUG - Dividend Comparison
Neither PSEP nor UAUG 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% |
UAUG Innovator U.S. Equity Ultra Buffer ETF - August | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.83% |
Drawdowns
PSEP vs. UAUG - Drawdown Comparison
The maximum PSEP drawdown since its inception was -17.90%, which is greater than UAUG's maximum drawdown of -13.91%. Use the drawdown chart below to compare losses from any high point for PSEP and UAUG.
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Drawdown Indicators
| PSEP | UAUG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.90% | -13.91% | -3.99% |
Max Drawdown (1Y)Largest decline over 1 year | -6.73% | -6.31% | -0.42% |
Max Drawdown (5Y)Largest decline over 5 years | -9.92% | -13.91% | +3.99% |
Current DrawdownCurrent decline from peak | -2.55% | -2.52% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -1.60% | -2.41% | +0.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.25% | 1.26% | -0.01% |
Volatility
PSEP vs. UAUG - Volatility Comparison
Innovator U.S. Equity Power Buffer ETF - September (PSEP) and Innovator U.S. Equity Ultra Buffer ETF - August (UAUG) have volatilities of 2.93% and 2.84%, 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 | UAUG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.93% | 2.84% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 4.63% | 4.31% | +0.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.66% | 9.43% | +0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.59% | 7.85% | +0.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.23% | 8.80% | +1.43% |