PSMR vs. PAUG

Last updated Jun 4, 2026

PSMR (Pacer Swan SOS Moderate (April) ETF) and PAUG (Innovator U.S. Equity Power Buffer ETF - August) are both Defined Outcome funds. PSMR is actively managed, while PAUG is passively managed. Over the past 5 years, PSMR returned 8.52%/yr vs 9.17%/yr for PAUG. Their correlation of 0.86 suggests significant overlap in exposure. PSMR charges 0.61%/yr vs 0.79%/yr for PAUG.

Performance

PSMR vs. PAUG - Performance Comparison

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

Returns By Period

In the year-to-date period, PSMR achieves a 7.68% return, which is significantly higher than PAUG's 4.92% return.

PSMR

• 1D: -0.15%
• 1M: 1.54%
• YTD: 7.68%
• 6M: 8.38%
• 1Y: 14.83%
• 3Y*: 11.71%
• 5Y*: 8.52%
• 10Y*: —

PAUG

• 1D: -0.04%
• 1M: 1.57%
• YTD: 4.92%
• 6M: 5.53%
• 1Y: 14.97%
• 3Y*: 14.49%
• 5Y*: 9.17%
• 10Y*: —

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

PSMR vs. PAUG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PSMR Pacer Swan SOS Moderate (April) ETF	7.68%	6.74%	11.99%	16.85%	-4.11%	7.37%
PAUG Innovator U.S. Equity Power Buffer ETF - August	4.92%	12.34%	15.37%	17.71%	-6.85%	5.02%

Correlation

The correlation between PSMR and PAUG is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (All Time) Calculated using the full available price history since Apr 5, 2021	0.86

The correlation between PSMR and PAUG has been stable across timeframes, ranging from 0.80 to 0.87 - a consistent structural relationship.

PSMR vs. PAUG - Sectors Allocation Comparison

Sectors	PSMR	PAUG
Technology	33.1%	36.2%
Financial Services	12.3%	11.9%
Communication Services	10.7%	10.9%
Consumer Cyclical	10.1%	10.1%
Healthcare	9.8%	8.4%
Industrials	8.7%	8.1%
Consumer Defensive	5.4%	4.9%
Energy	3.5%	3.5%
Utilities	2.5%	2.3%
Real Estate	2.0%	1.9%
Basic Materials	1.9%	1.8%

Return for Risk

PSMR vs. PAUG — Risk / Return Rank

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

PSMR

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

PAUG

PAUG Risk / Return Rank: 85
PAUG Sharpe Ratio Rank: 82
PAUG Sortino Ratio Rank: 87
PAUG Omega Ratio Rank: 89
PAUG Calmar Ratio Rank: 76
PAUG Martin Ratio Rank: 90

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.

PSMR vs. PAUG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Swan SOS Moderate (April) ETF (PSMR) 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.

	PSMR	PAUG	Difference
Sharpe ratio: Return per unit of total volatility	4.23	2.69	+1.53
Sortino ratio: Return per unit of downside risk	7.28	3.99	+3.29
Omega ratio: Gain probability vs. loss probability	1.96	1.58	+0.38
Calmar ratio: Return relative to maximum drawdown	15.03	3.80	+11.23
Martin ratio: Return relative to average drawdown	73.58	20.75	+52.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PSMR vs. PAUG - Sharpe Ratio Comparison

The current PSMR Sharpe Ratio is 4.23, which is higher than the PAUG Sharpe Ratio of 2.69. The chart below compares the historical Sharpe Ratios of PSMR and PAUG, 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

	PSMR	PAUG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.23	2.69	+1.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.01	1.06	-0.05
Sharpe Ratio (All Time) Calculated using the full available price history	1.05	0.88	+0.17

Drawdowns

PSMR vs. PAUG - Drawdown Comparison

The maximum PSMR drawdown since its inception was -11.78%, smaller than the maximum PAUG drawdown of -17.88%. Use the drawdown chart below to compare losses from any high point for PSMR and PAUG.

Drawdown Indicators

	PSMR	PAUG	Difference
Max Drawdown Largest peak-to-trough decline	-11.78%	-17.88%	+6.10%
Max Drawdown (1Y) Largest decline over 1 year	-0.99%	-3.96%	+2.97%
Max Drawdown (3Y) Largest decline over 3 years	-11.78%	-10.45%	-1.33%
Max Drawdown (5Y) Largest decline over 5 years	-11.78%	-11.76%	-0.02%
Current Drawdown Current decline from peak	-0.15%	-0.06%	-0.09%
Average Drawdown Average peak-to-trough decline	-1.67%	-1.81%	+0.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.20%	0.72%	-0.52%

Volatility

PSMR vs. PAUG - Volatility Comparison

Pacer Swan SOS Moderate (April) ETF (PSMR) has a higher volatility of 0.71% compared to Innovator U.S. Equity Power Buffer ETF - August (PAUG) at 0.58%. This indicates that PSMR's price experiences larger fluctuations and is considered to be riskier than PAUG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSMR	PAUG	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.71%	0.58%	+0.13%
Volatility (6M) Calculated over the trailing 6-month period	2.48%	4.18%	-1.70%
Volatility (1Y) Calculated over the trailing 1-year period	3.53%	5.60%	-2.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.48%	8.71%	-0.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.41%	10.60%	-2.19%

PSMR vs. PAUG - Expense Ratio Comparison

PSMR has a 0.61% expense ratio, which is lower than PAUG's 0.79% expense ratio.

Dividends

PSMR vs. PAUG - Dividend Comparison

Neither PSMR nor PAUG has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
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%
PSMR Pacer Swan SOS Moderate (April) ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PSMR and PAUG in my portfolio?

PSMR and PAUG have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSMR or PAUG?

PSMR has higher volatility (0.71%) compared to PAUG (0.58%). In terms of maximum drawdown, PSMR dropped -11.78% vs PAUG's -17.88%.

Which ETF is better, PSMR or PAUG?

On 5-year performance, PAUG leads with 9.17% vs 8.52% for PSMR. On fees, PSMR is cheaper at 0.61% per year. On volatility, PAUG has been the lower-risk option at 0.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSMR or PAUG?

Over the 5-year period, PAUG has performed better with a 9.17% return vs 8.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSMR or PAUG?

PSMR is cheaper with a 0.61% expense ratio, compared with 0.79% for PAUG.

Which ETF pays a higher dividend yield, PSMR or PAUG?

PSMR and PAUG have nearly identical dividend yields, around 0.00%.

What is the main difference between PSMR and PAUG?

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

Which has better risk-adjusted returns?

PSMR currently has the higher Sharpe Ratio (4.23 vs 2.69), 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.