PSFJ vs. BAPR

Last updated Aug 2, 2026

PSFJ (Pacer Swan SOS Flex (July) ETF) and BAPR (Innovator U.S. Equity Buffer ETF - April) are both Defined Outcome funds. PSFJ is actively managed, while BAPR is passively managed. Over the past 5 years, PSFJ returned 11.28%/yr vs 10.92%/yr for BAPR. Their correlation of 0.91 means they have usually moved in the same direction. PSFJ charges 0.61%/yr vs 0.79%/yr for BAPR.

Performance

PSFJ vs. BAPR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Swan SOS Flex (July) ETF (PSFJ) and Innovator U.S. Equity Buffer ETF - April (BAPR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSFJ achieves a 6.29% return, which is significantly lower than BAPR's 11.91% return.

PSFJ

• 1D: 0.61%
• 1M: 0.64%
• 6M: 5.43%
• YTD: 6.29%
• 1Y: 13.32%
• 3Y*: 13.45%
• 5Y*: 11.28%
• 10Y*: —
• ALL TIME*: 11.16%

BAPR

• 1D: 0.55%
• 1M: 0.89%
• 6M: 11.13%
• YTD: 11.91%
• 1Y: 18.11%
• 3Y*: 13.78%
• 5Y*: 10.92%
• 10Y*: —
• ALL TIME*: 10.81%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BAPR Innovator U.S. Equity Buffer ETF - April	$248.94K	$604.46K	$476.54K
PSFJ Pacer Swan SOS Flex (July) ETF	$253.60K	$617.65K	$295.39K

PSFJ vs. BAPR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PSFJ Pacer Swan SOS Flex (July) ETF	6.29%	13.75%	16.08%	20.25%	-3.81%	5.47%
BAPR Innovator U.S. Equity Buffer ETF - April	11.91%	8.28%	15.95%	23.16%	-7.04%	5.35%

Correlation

The correlation between PSFJ and BAPR is 0.89, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.89
Correlation (3Y) Balances recent behavior with more history.	0.90
Correlation (5Y) Shows whether the relationship held over a longer period.	0.91
Correlation (All Time) Calculated using the full available price history since Jul 1, 2021	0.91

The correlation between PSFJ and BAPR has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.

Return for Risk

PSFJ vs. BAPR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PSFJ

PSFJ Risk / Return Rank: 85
PSFJ Sharpe Ratio Rank: 84
PSFJ Sortino Ratio Rank: 86
PSFJ Omega Ratio Rank: 86
PSFJ Calmar Ratio Rank: 76
PSFJ Martin Ratio Rank: 90

BAPR

BAPR Risk / Return Rank: 97
BAPR Sharpe Ratio Rank: 96
BAPR Sortino Ratio Rank: 97
BAPR Omega Ratio Rank: 96
BAPR Calmar Ratio Rank: 98
BAPR Martin Ratio Rank: 98

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PSFJ vs. BAPR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Swan SOS Flex (July) ETF (PSFJ) and Innovator U.S. Equity Buffer ETF - April (BAPR). 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.

	PSFJ	BAPR	Difference
Sharpe ratio: Return per unit of total volatility	1.96	2.95	-0.98
Sortino ratio: Return per unit of downside risk	2.91	4.80	-1.89
Omega ratio: Gain probability vs. loss probability	1.39	1.67	-0.29
Calmar ratio: Return relative to maximum drawdown	2.72	9.02	-6.30
Martin ratio: Return relative to average drawdown	14.37	41.44	-27.07

PSFJ vs. BAPR - Sharpe Ratio Comparison

The current PSFJ Sharpe Ratio is 1.96, which is lower than the BAPR Sharpe Ratio of 2.95. The chart below compares the historical Sharpe Ratios of PSFJ and BAPR, 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

PSFJ vs. BAPR - Drawdown Comparison

The maximum PSFJ drawdown since its inception was -12.20%, smaller than the maximum BAPR drawdown of -23.91%. Use the drawdown chart below to compare losses from any high point for PSFJ and BAPR.

Drawdown Indicators

	PSFJ	BAPR	Difference
Max Drawdown Largest peak-to-trough decline	-12.20%	-23.91%	+11.71%
Max Drawdown (1Y) Largest decline over 1 year	-4.56%	-1.93%	-2.63%
Max Drawdown (3Y) Largest decline over 3 years	-12.20%	-15.58%	+3.38%
Max Drawdown (5Y) Largest decline over 5 years	-12.20%	-15.58%	+3.38%
Current Drawdown Current decline from peak	-0.21%	0.00%	-0.21%
Average Drawdown Average peak-to-trough decline	-1.73%	-2.55%	+0.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.86%	0.42%	+0.44%

Volatility

PSFJ vs. BAPR - Volatility Comparison

Pacer Swan SOS Flex (July) ETF (PSFJ) has a higher volatility of 2.31% compared to Innovator U.S. Equity Buffer ETF - April (BAPR) at 1.71%. This indicates that PSFJ's price experiences larger fluctuations and is considered to be riskier than BAPR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSFJ	BAPR	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.31%	1.71%	+0.60%
Volatility (6M) Calculated over the trailing 6-month period	4.93%	5.16%	-0.23%
Volatility (1Y) Calculated over the trailing 1-year period	6.33%	5.93%	+0.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.27%	11.51%	-1.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.25%	13.01%	-2.76%

PSFJ vs. BAPR - Expense Ratio Comparison

PSFJ has a 0.61% expense ratio, which is lower than BAPR's 0.79% expense ratio.

Dividends

PSFJ vs. BAPR - Dividend Comparison

Neither PSFJ nor BAPR has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both PSFJ and BAPR in my portfolio?

PSFJ and BAPR have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSFJ or BAPR?

PSFJ has higher volatility (2.31%) compared to BAPR (1.71%). In terms of maximum drawdown, PSFJ dropped -12.20% vs BAPR's -23.91%.

Which ETF is better, PSFJ or BAPR?

On 5-year performance, PSFJ leads with 11.28% vs 10.92% for BAPR. On fees, PSFJ is cheaper at 0.61% per year. On volatility, BAPR has been the lower-risk option at 1.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSFJ or BAPR?

Over the 5-year period, PSFJ has performed better with a 11.28% return vs 10.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSFJ or BAPR?

PSFJ is cheaper with a 0.61% expense ratio, compared with 0.79% for BAPR.

Which ETF pays a higher dividend yield, PSFJ or BAPR?

PSFJ and BAPR have nearly identical dividend yields, around 0.00%.

What is the main difference between PSFJ and BAPR?

They also come from different issuers: Pacer and Innovator. Their fees differ too: 0.61% for PSFJ and 0.79% for BAPR.

Which has better risk-adjusted returns?

BAPR currently has the higher Sharpe Ratio (2.95 vs 1.96), 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.