SNAV vs. UNOV

Last updated Jun 4, 2026

SNAV (Mohr Sector Nav ETF) and UNOV (Innovator U.S. Equity Ultra Buffer ETF - November) are both Large Cap Blend Equities funds. SNAV is actively managed, while UNOV is passively managed. Over the past 3 years, SNAV returned 15.57%/yr vs 10.20%/yr for UNOV. Their correlation of 0.83 suggests significant overlap in exposure. SNAV charges 1.30%/yr vs 0.79%/yr for UNOV.

Performance

SNAV vs. UNOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Mohr Sector Nav ETF (SNAV) and Innovator U.S. Equity Ultra Buffer ETF - November (UNOV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SNAV achieves a 11.57% return, which is significantly higher than UNOV's 5.40% return.

SNAV

• 1D: -0.67%
• 1M: 6.93%
• YTD: 11.57%
• 6M: 11.36%
• 1Y: 25.19%
• 3Y*: 15.57%
• 5Y*: —
• 10Y*: —

UNOV

• 1D: -0.22%
• 1M: 2.17%
• YTD: 5.40%
• 6M: 5.64%
• 1Y: 13.88%
• 3Y*: 10.20%
• 5Y*: 6.68%
• 10Y*: —

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

SNAV vs. UNOV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SNAV Mohr Sector Nav ETF	11.57%	15.54%	11.11%	12.25%
UNOV Innovator U.S. Equity Ultra Buffer ETF - November	5.40%	9.92%	9.42%	12.23%

Correlation

The correlation between SNAV and UNOV is 0.83, 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	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (All Time) Calculated using the full available price history since Jan 12, 2023	0.83

The correlation between SNAV and UNOV has been stable across timeframes, ranging from 0.81 to 0.83 - a consistent structural relationship.

SNAV vs. UNOV - Sectors Allocation Comparison

Sectors	SNAV	UNOV
Technology	38.4%	36.2%
Financial Services	16.5%	11.9%
Healthcare	14.5%	8.4%
Industrials	6.6%	8.1%
Consumer Cyclical	6.5%	10.1%
Communication Services	5.8%	10.9%
Consumer Defensive	3.4%	4.9%
Energy	2.4%	3.5%
Utilities	2.2%	2.3%
Real Estate	2.1%	1.9%
Basic Materials	1.6%	1.8%

Return for Risk

SNAV vs. UNOV — Risk / Return Rank

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

SNAV

SNAV Risk / Return Rank: 74
SNAV Sharpe Ratio Rank: 74
SNAV Sortino Ratio Rank: 72
SNAV Omega Ratio Rank: 72
SNAV Calmar Ratio Rank: 78
SNAV Martin Ratio Rank: 75

UNOV

UNOV Risk / Return Rank: 77
UNOV Sharpe Ratio Rank: 77
UNOV Sortino Ratio Rank: 81
UNOV Omega Ratio Rank: 84
UNOV Calmar Ratio Rank: 63
UNOV Martin Ratio Rank: 78

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.

SNAV vs. UNOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mohr Sector Nav ETF (SNAV) and Innovator U.S. Equity Ultra Buffer ETF - November (UNOV). 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.

	SNAV	UNOV	Difference
Sharpe ratio: Return per unit of total volatility	2.37	2.50	-0.12
Sortino ratio: Return per unit of downside risk	3.21	3.63	-0.42
Omega ratio: Gain probability vs. loss probability	1.42	1.51	-0.08
Calmar ratio: Return relative to maximum drawdown	3.92	3.08	+0.84
Martin ratio: Return relative to average drawdown	14.09	15.01	-0.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SNAV vs. UNOV - Sharpe Ratio Comparison

The current SNAV Sharpe Ratio is 2.37, which is comparable to the UNOV Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of SNAV and UNOV, 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

	SNAV	UNOV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.37	2.50	-0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.98	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.11	0.91	+0.19

Drawdowns

SNAV vs. UNOV - Drawdown Comparison

The maximum SNAV drawdown since its inception was -16.61%, which is greater than UNOV's maximum drawdown of -13.84%. Use the drawdown chart below to compare losses from any high point for SNAV and UNOV.

Drawdown Indicators

	SNAV	UNOV	Difference
Max Drawdown Largest peak-to-trough decline	-16.61%	-13.84%	-2.77%
Max Drawdown (1Y) Largest decline over 1 year	-6.45%	-4.52%	-1.93%
Max Drawdown (3Y) Largest decline over 3 years	-16.61%	-9.10%	-7.51%
Max Drawdown (5Y) Largest decline over 5 years	—	-9.10%	—
Current Drawdown Current decline from peak	-0.67%	-0.22%	-0.45%
Average Drawdown Average peak-to-trough decline	-2.51%	-1.66%	-0.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.79%	0.93%	+0.86%

Volatility

SNAV vs. UNOV - Volatility Comparison

Mohr Sector Nav ETF (SNAV) has a higher volatility of 3.12% compared to Innovator U.S. Equity Ultra Buffer ETF - November (UNOV) at 1.14%. This indicates that SNAV's price experiences larger fluctuations and is considered to be riskier than UNOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SNAV	UNOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.12%	1.14%	+1.98%
Volatility (6M) Calculated over the trailing 6-month period	7.28%	4.67%	+2.61%
Volatility (1Y) Calculated over the trailing 1-year period	10.68%	5.58%	+5.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.64%	6.83%	+6.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.64%	7.72%	+5.92%

SNAV vs. UNOV - Expense Ratio Comparison

SNAV has a 1.30% expense ratio, which is higher than UNOV's 0.79% expense ratio.

Dividends

SNAV vs. UNOV - Dividend Comparison

Neither SNAV nor UNOV has paid dividends to shareholders.

Position	TTM	2025	2024	2023
SNAV Mohr Sector Nav ETF	0.00%	0.00%	0.94%	3.29%
UNOV Innovator U.S. Equity Ultra Buffer ETF - November	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SNAV and UNOV in my portfolio?

SNAV and UNOV have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SNAV or UNOV?

SNAV has higher volatility (3.12%) compared to UNOV (1.14%). In terms of maximum drawdown, SNAV dropped -16.61% vs UNOV's -13.84%.

Which ETF is better, SNAV or UNOV?

On 3-year performance, SNAV leads with 15.57% vs 10.20% for UNOV. On fees, UNOV is cheaper at 0.79% per year. On volatility, UNOV has been the lower-risk option at 1.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SNAV or UNOV?

Over the 3-year period, SNAV has performed better with a 15.57% return vs 10.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SNAV or UNOV?

UNOV is cheaper with a 0.79% expense ratio, compared with 1.30% for SNAV.

Which ETF pays a higher dividend yield, SNAV or UNOV?

SNAV and UNOV have nearly identical dividend yields, around 0.00%.

What is the main difference between SNAV and UNOV?

They also come from different issuers: Mohr Funds and Innovator. Their fees differ too: 1.30% for SNAV and 0.79% for UNOV.

Which has better risk-adjusted returns?

UNOV currently has the higher Sharpe Ratio (2.50 vs 2.37), 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.