QTOC vs. UAUG

Last updated Jun 4, 2026

QTOC (Innovator Growth Accelerated Plus ETF - October) and UAUG (Innovator U.S. Equity Ultra Buffer ETF - August) are both exchange-traded funds - QTOC is a Options Trading fund actively managed by Innovator, while UAUG is a Defined Outcome fund tracking the S&P 500. QTOC is actively managed, while UAUG is passively managed. Over the past 3 years, QTOC returned 19.15%/yr vs 14.57%/yr for UAUG. Their correlation of 0.82 suggests significant overlap in exposure. Both charge a 0.79% expense ratio.

Performance

QTOC vs. UAUG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Growth Accelerated Plus ETF - October (QTOC) and Innovator U.S. Equity Ultra Buffer ETF - August (UAUG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QTOC achieves a 10.79% return, which is significantly higher than UAUG's 4.84% return.

QTOC

• 1D: -0.08%
• 1M: 3.29%
• YTD: 10.79%
• 6M: 10.99%
• 1Y: 22.99%
• 3Y*: 19.15%
• 5Y*: —
• 10Y*: —

UAUG

• 1D: -0.10%
• 1M: 1.60%
• YTD: 4.84%
• 6M: 5.32%
• 1Y: 15.19%
• 3Y*: 14.57%
• 5Y*: 7.97%
• 10Y*: —

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

QTOC vs. UAUG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
QTOC Innovator Growth Accelerated Plus ETF - October	10.79%	16.79%	14.90%	38.43%	-29.84%	6.99%
UAUG Innovator U.S. Equity Ultra Buffer ETF - August	4.84%	12.42%	15.51%	17.71%	-10.81%	2.58%

Correlation

The correlation between QTOC and UAUG is 0.84, 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	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (All Time) Calculated using the full available price history since Oct 4, 2021	0.82

The correlation between QTOC and UAUG has been stable across timeframes, ranging from 0.78 to 0.84 - a consistent structural relationship.

QTOC vs. UAUG - Sectors Allocation Comparison

Sectors	QTOC	UAUG
Technology	54.2%	36.2%
Communication Services	15.5%	10.9%
Consumer Cyclical	12.2%	10.1%
Consumer Defensive	7.6%	4.9%
Healthcare	4.2%	8.4%
Industrials	2.8%	8.1%
Utilities	1.4%	2.3%
Basic Materials	1.2%	1.8%
Energy	0.6%	3.5%
Financial Services	0.2%	11.9%
Real Estate	0.1%	1.9%

Return for Risk

QTOC vs. UAUG — Risk / Return Rank

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

QTOC

QTOC Risk / Return Rank: 58
QTOC Sharpe Ratio Rank: 55
QTOC Sortino Ratio Rank: 56
QTOC Omega Ratio Rank: 65
QTOC Calmar Ratio Rank: 49
QTOC Martin Ratio Rank: 65

UAUG

UAUG Risk / Return Rank: 86
UAUG Sharpe Ratio Rank: 84
UAUG Sortino Ratio Rank: 89
UAUG Omega Ratio Rank: 89
UAUG Calmar Ratio Rank: 76
UAUG Martin Ratio Rank: 89

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.

QTOC vs. UAUG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Growth Accelerated Plus ETF - October (QTOC) 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.

	QTOC	UAUG	Difference
Sharpe ratio: Return per unit of total volatility	1.85	2.78	-0.93
Sortino ratio: Return per unit of downside risk	2.66	4.11	-1.45
Omega ratio: Gain probability vs. loss probability	1.39	1.57	-0.19
Calmar ratio: Return relative to maximum drawdown	2.40	3.85	-1.45
Martin ratio: Return relative to average drawdown	11.68	20.38	-8.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QTOC vs. UAUG - Sharpe Ratio Comparison

The current QTOC Sharpe Ratio is 1.85, which is lower than the UAUG Sharpe Ratio of 2.78. The chart below compares the historical Sharpe Ratios of QTOC and UAUG, 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

	QTOC	UAUG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.85	2.78	-0.93
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.01	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.91	-0.42

Drawdowns

QTOC vs. UAUG - Drawdown Comparison

The maximum QTOC drawdown since its inception was -33.43%, which is greater than UAUG's maximum drawdown of -13.91%. Use the drawdown chart below to compare losses from any high point for QTOC and UAUG.

Drawdown Indicators

	QTOC	UAUG	Difference
Max Drawdown Largest peak-to-trough decline	-33.43%	-13.91%	-19.52%
Max Drawdown (1Y) Largest decline over 1 year	-9.63%	-3.96%	-5.67%
Max Drawdown (3Y) Largest decline over 3 years	-21.24%	-10.35%	-10.89%
Max Drawdown (5Y) Largest decline over 5 years	—	-13.91%	—
Current Drawdown Current decline from peak	-0.16%	-0.10%	-0.06%
Average Drawdown Average peak-to-trough decline	-8.50%	-2.36%	-6.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	0.75%	+1.22%

Volatility

QTOC vs. UAUG - Volatility Comparison

Innovator Growth Accelerated Plus ETF - October (QTOC) has a higher volatility of 1.26% compared to Innovator U.S. Equity Ultra Buffer ETF - August (UAUG) at 0.60%. This indicates that QTOC's price experiences larger fluctuations and is considered to be riskier than UAUG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QTOC	UAUG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.26%	0.60%	+0.66%
Volatility (6M) Calculated over the trailing 6-month period	10.34%	4.13%	+6.21%
Volatility (1Y) Calculated over the trailing 1-year period	12.49%	5.51%	+6.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.77%	7.89%	+11.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.77%	8.72%	+11.05%

QTOC vs. UAUG - Expense Ratio Comparison

Both QTOC and UAUG have an expense ratio of 0.79%.

Dividends

QTOC vs. UAUG - Dividend Comparison

Neither QTOC nor UAUG has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
QTOC Innovator Growth Accelerated Plus ETF - October	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%

Frequently Asked Questions

Can I hold both QTOC and UAUG in my portfolio?

QTOC and UAUG have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QTOC or UAUG?

QTOC has higher volatility (1.26%) compared to UAUG (0.60%). In terms of maximum drawdown, QTOC dropped -33.43% vs UAUG's -13.91%.

Which ETF is better, QTOC or UAUG?

On 3-year performance, QTOC leads with 19.15% vs 14.57% for UAUG. Both ETFs have the same 0.79% expense ratio. On volatility, UAUG has been the lower-risk option at 0.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QTOC or UAUG?

Over the 3-year period, QTOC has performed better with a 19.15% return vs 14.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QTOC or UAUG?

QTOC and UAUG have the same expense ratio: 0.79% per year.

Which ETF pays a higher dividend yield, QTOC or UAUG?

QTOC and UAUG have nearly identical dividend yields, around 0.00%.

What is the main difference between QTOC and UAUG?

QTOC is categorized as Options Trading, while UAUG is Defined Outcome.

Which has better risk-adjusted returns?

UAUG currently has the higher Sharpe Ratio (2.78 vs 1.85), 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.