PSMO vs. AJUL

Last updated Jun 24, 2026

PSMO (Pacer Swan SOS Moderate (October) ETF) and AJUL (Innovator Equity Defined Protection ETF - 2 Yr To July 2026) are both Options Trading funds. Both are actively managed. Over the past year, PSMO returned 13.37% vs 8.49% for AJUL. A 0.77 correlation means they provide meaningful diversification when combined. PSMO charges 0.60%/yr vs 0.79%/yr for AJUL.

Performance

PSMO vs. AJUL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Swan SOS Moderate (October) ETF (PSMO) and Innovator Equity Defined Protection ETF - 2 Yr To July 2026 (AJUL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSMO achieves a 5.01% return, which is significantly higher than AJUL's 3.30% return.

PSMO

• 1D: -0.45%
• 1M: 0.05%
• YTD: 5.01%
• 6M: 4.46%
• 1Y: 13.37%
• 3Y*: 11.84%
• 5Y*: —
• 10Y*: —

AJUL

• 1D: 0.02%
• 1M: 0.37%
• YTD: 3.30%
• 6M: 3.25%
• 1Y: 8.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PSMO vs. AJUL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PSMO Pacer Swan SOS Moderate (October) ETF	5.01%	11.44%	3.35%
AJUL Innovator Equity Defined Protection ETF - 2 Yr To July 2026	3.30%	7.63%	4.61%

Correlation

The correlation between PSMO and AJUL is 0.81, 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	0.81
Correlation (All Time) Calculated using the full available price history since Jul 1, 2024	0.77

The correlation between PSMO and AJUL has been stable across timeframes, ranging from 0.77 to 0.81 - a consistent structural relationship.

Return for Risk

PSMO vs. AJUL — Risk / Return Rank

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

PSMO

PSMO Risk / Return Rank: 78
PSMO Sharpe Ratio Rank: 78
PSMO Sortino Ratio Rank: 83
PSMO Omega Ratio Rank: 82
PSMO Calmar Ratio Rank: 66
PSMO Martin Ratio Rank: 82

AJUL

AJUL Risk / Return Rank: 91
AJUL Sharpe Ratio Rank: 90
AJUL Sortino Ratio Rank: 94
AJUL Omega Ratio Rank: 94
AJUL Calmar Ratio Rank: 81
AJUL Martin Ratio Rank: 94

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.

PSMO vs. AJUL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Swan SOS Moderate (October) ETF (PSMO) and Innovator Equity Defined Protection ETF - 2 Yr To July 2026 (AJUL). 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.

	PSMO	AJUL	Difference
Sharpe ratio: Return per unit of total volatility	2.26	2.75	-0.49
Sortino ratio: Return per unit of downside risk	3.33	4.37	-1.04
Omega ratio: Gain probability vs. loss probability	1.45	1.63	-0.19
Calmar ratio: Return relative to maximum drawdown	3.00	3.89	-0.90
Martin ratio: Return relative to average drawdown	15.09	23.08	-7.99

PSMO vs. AJUL - Sharpe Ratio Comparison

The current PSMO Sharpe Ratio is 2.26, which is comparable to the AJUL Sharpe Ratio of 2.75. The chart below compares the historical Sharpe Ratios of PSMO and AJUL, 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

PSMO vs. AJUL - Drawdown Comparison

The maximum PSMO drawdown since its inception was -9.77%, which is greater than AJUL's maximum drawdown of -6.06%. Use the drawdown chart below to compare losses from any high point for PSMO and AJUL.

Drawdown Indicators

	PSMO	AJUL	Difference
Max Drawdown Largest peak-to-trough decline	-9.77%	-6.06%	-3.71%
Max Drawdown (1Y) Largest decline over 1 year	-4.48%	-2.19%	-2.29%
Max Drawdown (3Y) Largest decline over 3 years	-9.77%	—	—
Current Drawdown Current decline from peak	-0.66%	0.00%	-0.66%
Average Drawdown Average peak-to-trough decline	-1.32%	-0.49%	-0.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.89%	0.37%	+0.52%

Volatility

PSMO vs. AJUL - Volatility Comparison

Pacer Swan SOS Moderate (October) ETF (PSMO) has a higher volatility of 1.62% compared to Innovator Equity Defined Protection ETF - 2 Yr To July 2026 (AJUL) at 0.21%. This indicates that PSMO's price experiences larger fluctuations and is considered to be riskier than AJUL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSMO	AJUL	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.62%	0.21%	+1.41%
Volatility (6M) Calculated over the trailing 6-month period	4.70%	2.46%	+2.24%
Volatility (1Y) Calculated over the trailing 1-year period	5.99%	3.14%	+2.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.38%	4.94%	+3.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.38%	4.94%	+3.44%

PSMO vs. AJUL - Expense Ratio Comparison

PSMO has a 0.60% expense ratio, which is lower than AJUL's 0.79% expense ratio.

Dividends

PSMO vs. AJUL - Dividend Comparison

Neither PSMO nor AJUL has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both PSMO and AJUL in my portfolio?

PSMO and AJUL have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSMO or AJUL?

PSMO has higher volatility (1.62%) compared to AJUL (0.21%). In terms of maximum drawdown, PSMO dropped -9.77% vs AJUL's -6.06%.

Which ETF is better, PSMO or AJUL?

On 1-year performance, PSMO leads with 13.37% vs 8.49% for AJUL. On fees, PSMO is cheaper at 0.60% per year. On volatility, AJUL has been the lower-risk option at 0.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSMO or AJUL?

Over the 1-year period, PSMO has performed better with a 13.37% return vs 8.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSMO or AJUL?

PSMO is cheaper with a 0.60% expense ratio, compared with 0.79% for AJUL.

Which ETF pays a higher dividend yield, PSMO or AJUL?

PSMO and AJUL have nearly identical dividend yields, around 0.00%.

What is the main difference between PSMO and AJUL?

They also come from different issuers: Pacer and Innovator. Their fees differ too: 0.60% for PSMO and 0.79% for AJUL.

Which has better risk-adjusted returns?

AJUL currently has the higher Sharpe Ratio (2.75 vs 2.26), 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.