SAUG vs. IOCT

Last updated Aug 1, 2026

SAUG (FT Cboe Vest U.S. Small Cap Moderate Buffer ETF - August) and IOCT (Innovator International Developed Power Buffer ETF- October) are both Options Trading funds. Both are actively managed. Over the past year, SAUG returned 20.30% vs 16.69% for IOCT. Their 0.65 correlation means they have sometimes moved together and sometimes differently. SAUG charges 0.90%/yr vs 0.85%/yr for IOCT.

Performance

SAUG vs. IOCT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Cboe Vest U.S. Small Cap Moderate Buffer ETF - August (SAUG) and Innovator International Developed Power Buffer ETF- October (IOCT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SAUG achieves a 9.62% return, which is significantly higher than IOCT's 7.67% return.

SAUG

• 1D: 0.04%
• 1M: 0.61%
• 6M: 7.15%
• YTD: 9.62%
• 1Y: 20.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.16%

IOCT

• 1D: -0.08%
• 1M: 1.23%
• 6M: 5.11%
• YTD: 7.67%
• 1Y: 16.69%
• 3Y*: 12.59%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.78%

*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)
IOCT Innovator International Developed Power Buffer ETF- October	$247.57K	$311.11K	$341.04K
SAUG FT Cboe Vest U.S. Small Cap Moderate Buffer ETF - August	$107.72K	$109.09K	$121.07K

SAUG vs. IOCT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SAUG FT Cboe Vest U.S. Small Cap Moderate Buffer ETF - August	9.62%	8.23%	11.08%	6.37%
IOCT Innovator International Developed Power Buffer ETF- October	7.67%	18.96%	4.88%	7.34%

Correlation

The correlation between SAUG and IOCT is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.67
Correlation (All Time) Calculated using the full available price history since Aug 21, 2023	0.65

The correlation between SAUG and IOCT has been stable across timeframes, ranging from 0.65 to 0.67 - a consistent structural relationship.

Return for Risk

SAUG vs. IOCT — Risk / Return Rank

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

SAUG

SAUG Risk / Return Rank: 92
SAUG Sharpe Ratio Rank: 89
SAUG Sortino Ratio Rank: 92
SAUG Omega Ratio Rank: 92
SAUG Calmar Ratio Rank: 93
SAUG Martin Ratio Rank: 93

IOCT

IOCT Risk / Return Rank: 82
IOCT Sharpe Ratio Rank: 82
IOCT Sortino Ratio Rank: 84
IOCT Omega Ratio Rank: 82
IOCT Calmar Ratio Rank: 78
IOCT Martin Ratio Rank: 83

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.

SAUG vs. IOCT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Small Cap Moderate Buffer ETF - August (SAUG) and Innovator International Developed Power Buffer ETF- October (IOCT). 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.

	SAUG	IOCT	Difference
Sharpe ratio: Return per unit of total volatility	2.17	1.90	+0.26
Sortino ratio: Return per unit of downside risk	3.41	2.80	+0.61
Omega ratio: Gain probability vs. loss probability	1.46	1.35	+0.11
Calmar ratio: Return relative to maximum drawdown	4.60	2.79	+1.81
Martin ratio: Return relative to average drawdown	17.48	11.22	+6.26

SAUG vs. IOCT - Sharpe Ratio Comparison

The current SAUG Sharpe Ratio is 2.17, which is comparable to the IOCT Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of SAUG and IOCT, 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

SAUG vs. IOCT - Drawdown Comparison

The maximum SAUG drawdown since its inception was -14.62%, smaller than the maximum IOCT drawdown of -16.94%. Use the drawdown chart below to compare losses from any high point for SAUG and IOCT.

Drawdown Indicators

	SAUG	IOCT	Difference
Max Drawdown Largest peak-to-trough decline	-14.62%	-16.94%	+2.32%
Max Drawdown (1Y) Largest decline over 1 year	-4.10%	-5.84%	+1.74%
Max Drawdown (3Y) Largest decline over 3 years	—	-7.54%	—
Current Drawdown Current decline from peak	0.00%	-0.08%	+0.08%
Average Drawdown Average peak-to-trough decline	-2.13%	-2.59%	+0.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.08%	1.45%	-0.37%

Volatility

SAUG vs. IOCT - Volatility Comparison

The current volatility for FT Cboe Vest U.S. Small Cap Moderate Buffer ETF - August (SAUG) is 0.41%, while Innovator International Developed Power Buffer ETF- October (IOCT) has a volatility of 2.32%. This indicates that SAUG experiences smaller price fluctuations and is considered to be less risky than IOCT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SAUG	IOCT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.41%	2.32%	-1.91%
Volatility (6M) Calculated over the trailing 6-month period	5.10%	6.88%	-1.78%
Volatility (1Y) Calculated over the trailing 1-year period	8.71%	8.59%	+0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.50%	9.33%	+2.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.50%	9.33%	+2.17%

SAUG vs. IOCT - Expense Ratio Comparison

SAUG has a 0.90% expense ratio, which is higher than IOCT's 0.85% expense ratio.

Dividends

SAUG vs. IOCT - Dividend Comparison

Neither SAUG nor IOCT has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SAUG and IOCT in my portfolio?

SAUG and IOCT have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SAUG or IOCT?

IOCT has higher volatility (2.32%) compared to SAUG (0.41%). In terms of maximum drawdown, SAUG dropped -14.62% vs IOCT's -16.94%.

Which ETF is better, SAUG or IOCT?

On 1-year performance, SAUG leads with 20.30% vs 16.69% for IOCT. On fees, IOCT is cheaper at 0.85% per year. On volatility, SAUG has been the lower-risk option at 0.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SAUG or IOCT?

Over the 1-year period, SAUG has performed better with a 20.30% return vs 16.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SAUG or IOCT?

IOCT is cheaper with a 0.85% expense ratio, compared with 0.90% for SAUG.

Which ETF pays a higher dividend yield, SAUG or IOCT?

SAUG and IOCT have nearly identical dividend yields, around 0.00%.

What is the main difference between SAUG and IOCT?

They also come from different issuers: FT Vest and Innovator. Their fees differ too: 0.90% for SAUG and 0.85% for IOCT.

Which has better risk-adjusted returns?

SAUG currently has the higher Sharpe Ratio (2.17 vs 1.90), 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.