PVEX vs. UJUN

Last updated Jul 17, 2026

PVEX (TrueShares ConVequity ETF) and UJUN (Innovator U.S. Equity Ultra Buffer ETF - June) are both exchange-traded funds - PVEX is a Large Cap Blend Equities fund managed by TrueShares, while UJUN is a Defined Outcome fund tracking the Cboe S&P 500 30% (-5% to -35%) Buffer Protect June Series Index. Over the past year, PVEX returned 19.89% vs 8.30% for UJUN. A 0.79 correlation means they provide meaningful diversification when combined. PVEX charges 0.82%/yr vs 0.79%/yr for UJUN.

Performance

PVEX vs. UJUN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares ConVequity ETF (PVEX) and Innovator U.S. Equity Ultra Buffer ETF - June (UJUN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PVEX achieves a 7.85% return, which is significantly higher than UJUN's 3.41% return.

PVEX

• 1D: -0.77%
• 1M: -0.68%
• 6M: 7.14%
• YTD: 7.85%
• 1Y: 19.89%
• 3Y*: —
• 5Y*: —
• 10Y*: —

UJUN

• 1D: -0.08%
• 1M: 0.46%
• 6M: 2.94%
• YTD: 3.41%
• 1Y: 8.30%
• 3Y*: 10.31%
• 5Y*: 6.19%
• 10Y*: —

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

PVEX vs. UJUN - Yearly Performance Comparison

	2026 (YTD)	2025
PVEX TrueShares ConVequity ETF	7.85%	13.68%
UJUN Innovator U.S. Equity Ultra Buffer ETF - June	3.41%	5.35%

Correlation

The correlation between PVEX and UJUN is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (All Time) Calculated using the full available price history since Jun 30, 2025	0.79

The correlation between PVEX and UJUN has been stable across timeframes, ranging from 0.79 to 0.80 - a consistent structural relationship.

Return for Risk

PVEX vs. UJUN — Risk / Return Rank

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

PVEX

PVEX Risk / Return Rank: 53
PVEX Sharpe Ratio Rank: 48
PVEX Sortino Ratio Rank: 46
PVEX Omega Ratio Rank: 47
PVEX Calmar Ratio Rank: 66
PVEX Martin Ratio Rank: 56

UJUN

UJUN Risk / Return Rank: 78
UJUN Sharpe Ratio Rank: 70
UJUN Sortino Ratio Rank: 74
UJUN Omega Ratio Rank: 85
UJUN Calmar Ratio Rank: 73
UJUN Martin Ratio Rank: 87

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.

PVEX vs. UJUN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares ConVequity ETF (PVEX) and Innovator U.S. Equity Ultra Buffer ETF - June (UJUN). 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.

	PVEX	UJUN	Difference
Sharpe ratio: Return per unit of total volatility	1.36	1.80	-0.45
Sortino ratio: Return per unit of downside risk	1.92	2.67	-0.75
Omega ratio: Gain probability vs. loss probability	1.25	1.41	-0.16
Calmar ratio: Return relative to maximum drawdown	2.62	2.94	-0.32
Martin ratio: Return relative to average drawdown	7.75	14.35	-6.60

PVEX vs. UJUN - Sharpe Ratio Comparison

The current PVEX Sharpe Ratio is 1.36, which is comparable to the UJUN Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of PVEX and UJUN, 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

PVEX vs. UJUN - Drawdown Comparison

The maximum PVEX drawdown since its inception was -7.63%, smaller than the maximum UJUN drawdown of -13.73%. Use the drawdown chart below to compare losses from any high point for PVEX and UJUN.

Drawdown Indicators

	PVEX	UJUN	Difference
Max Drawdown Largest peak-to-trough decline	-7.63%	-13.73%	+6.10%
Max Drawdown (1Y) Largest decline over 1 year	-7.63%	-2.84%	-4.79%
Max Drawdown (3Y) Largest decline over 3 years	—	-11.24%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-11.96%	—
Current Drawdown Current decline from peak	-2.48%	-0.21%	-2.27%
Average Drawdown Average peak-to-trough decline	-2.00%	-2.05%	+0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.57%	0.58%	+1.99%

Volatility

PVEX vs. UJUN - Volatility Comparison

TrueShares ConVequity ETF (PVEX) has a higher volatility of 3.94% compared to Innovator U.S. Equity Ultra Buffer ETF - June (UJUN) at 1.59%. This indicates that PVEX's price experiences larger fluctuations and is considered to be riskier than UJUN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PVEX	UJUN	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.94%	1.59%	+2.35%
Volatility (6M) Calculated over the trailing 6-month period	8.95%	3.99%	+4.96%
Volatility (1Y) Calculated over the trailing 1-year period	14.74%	4.62%	+10.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.22%	8.39%	+6.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.22%	8.74%	+6.48%

PVEX vs. UJUN - Expense Ratio Comparison

PVEX has a 0.82% expense ratio, which is higher than UJUN's 0.79% expense ratio.

Dividends

PVEX vs. UJUN - Dividend Comparison

PVEX's dividend yield for the trailing twelve months is around 0.18%, while UJUN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
PVEX TrueShares ConVequity ETF	0.18%	0.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UJUN Innovator U.S. Equity Ultra Buffer ETF - June	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.89%

Frequently Asked Questions

Can I hold both PVEX and UJUN in my portfolio?

PVEX and UJUN 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, PVEX or UJUN?

PVEX has higher volatility (3.94%) compared to UJUN (1.59%). In terms of maximum drawdown, PVEX dropped -7.63% vs UJUN's -13.73%.

Which ETF is better, PVEX or UJUN?

On 1-year performance, PVEX leads with 19.89% vs 8.30% for UJUN. On fees, UJUN is cheaper at 0.79% per year. On volatility, UJUN has been the lower-risk option at 1.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PVEX or UJUN?

Over the 1-year period, PVEX has performed better with a 19.89% return vs 8.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PVEX or UJUN?

UJUN is cheaper with a 0.79% expense ratio, compared with 0.82% for PVEX.

Which ETF pays a higher dividend yield, PVEX or UJUN?

PVEX has the higher dividend yield at 0.18%, compared with 0.00% for UJUN.

What is the main difference between PVEX and UJUN?

PVEX is categorized as Large Cap Blend Equities, while UJUN is Defined Outcome. They also come from different issuers: TrueShares and Innovator. Their fees differ too: 0.82% for PVEX and 0.79% for UJUN.

Which has better risk-adjusted returns?

UJUN currently has the higher Sharpe Ratio (1.80 vs 1.36), 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.