SNAV vs. UNOV

Last updated Aug 4, 2026

SNAV (Mohr Sector Nav ETF) and UNOV (Innovator U.S. Equity Ultra Buffer ETF - November) are both exchange-traded funds - SNAV is a Large Cap Blend Equities fund actively managed by Mohr, while UNOV is a Defined Outcome fund tracking the Cboe S&P 500 30% (-5% to -35%) Buffer Protect November Series Index. SNAV is actively managed, while UNOV is passively managed. Over the past 3 years, SNAV returned 13.74%/yr vs 9.62%/yr for UNOV. Their correlation of 0.82 means they have usually moved in the same direction. 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 9.99% return, which is significantly higher than UNOV's 6.92% return.

SNAV

• 1D: 0.98%
• 1M: -0.60%
• 6M: 7.93%
• YTD: 9.99%
• 1Y: 18.66%
• 3Y*: 13.74%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.83%

UNOV

• 1D: 0.67%
• 1M: 1.37%
• 6M: 5.74%
• YTD: 6.92%
• 1Y: 12.07%
• 3Y*: 9.62%
• 5Y*: 6.86%
• 10Y*: —
• ALL TIME*: 7.08%

*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)
SNAV Mohr Sector Nav ETF	$182.87K	$118.44K	$103.98K
UNOV Innovator U.S. Equity Ultra Buffer ETF - November	$167.14K	$174.47K	$1.54M

SNAV vs. UNOV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SNAV Mohr Sector Nav ETF	9.99%	15.54%	11.11%	12.29%
UNOV Innovator U.S. Equity Ultra Buffer ETF - November	6.92%	9.92%	9.42%	12.96%

Correlation

The correlation between SNAV and UNOV is 0.80, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.80
Correlation (3Y) Balances recent behavior with more history.	0.80
Correlation (All Time) Calculated using the full available price history since Jan 11, 2023	0.82

The correlation between SNAV and UNOV has been stable across timeframes, ranging from 0.80 to 0.82 - a consistent structural relationship.

SNAV vs. UNOV - Sectors Allocation Comparison

Sectors	SNAV	UNOV
Technology	24.3%	37.9%
Consumer Cyclical	16.0%	9.6%
Healthcare	15.8%	9.1%
Utilities	10.0%	2.3%
Basic Materials	8.0%	1.7%
Financial Services	7.4%	11.7%
Industrials	7.2%	8.4%
Communication Services	3.6%	10.0%
Consumer Defensive	3.3%	4.6%
Real Estate	2.5%	1.9%
Energy	2.0%	3.0%

Return for Risk

SNAV vs. UNOV — Risk / Return Rank

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

SNAV

SNAV Risk / Return Rank: 65
SNAV Sharpe Ratio Rank: 63
SNAV Sortino Ratio Rank: 59
SNAV Omega Ratio Rank: 61
SNAV Calmar Ratio Rank: 75
SNAV Martin Ratio Rank: 68

UNOV

UNOV Risk / Return Rank: 81
UNOV Sharpe Ratio Rank: 81
UNOV Sortino Ratio Rank: 83
UNOV Omega Ratio Rank: 86
UNOV Calmar Ratio Rank: 72
UNOV Martin Ratio Rank: 84

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.

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.

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.

	SNAV	UNOV	Difference
Sharpe ratio: Return per unit of total volatility	1.65	2.02	-0.37
Sortino ratio: Return per unit of downside risk	2.22	2.90	-0.68
Omega ratio: Gain probability vs. loss probability	1.29	1.40	-0.10
Calmar ratio: Return relative to maximum drawdown	2.90	2.68	+0.23
Martin ratio: Return relative to average drawdown	9.08	12.59	-3.51

SNAV vs. UNOV - Sharpe Ratio Comparison

The current SNAV Sharpe Ratio is 1.65, which is comparable to the UNOV Sharpe Ratio of 2.02. 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.

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	-2.07%	0.00%	-2.07%
Average Drawdown Average peak-to-trough decline	-2.51%	-1.63%	-0.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.06%	0.96%	+1.10%

Volatility

SNAV vs. UNOV - Volatility Comparison

Mohr Sector Nav ETF (SNAV) has a higher volatility of 3.01% compared to Innovator U.S. Equity Ultra Buffer ETF - November (UNOV) at 2.02%. 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	3.01%	2.02%	+0.99%
Volatility (6M) Calculated over the trailing 6-month period	8.34%	5.13%	+3.21%
Volatility (1Y) Calculated over the trailing 1-year period	11.39%	6.01%	+5.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.61%	6.94%	+6.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.61%	7.70%	+5.91%

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 0.80, 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 (3.01%) compared to UNOV (2.02%). 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 13.74% vs 9.62% for UNOV. On fees, UNOV is cheaper at 0.79% per year. On volatility, UNOV has been the lower-risk option at 2.02%. 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 13.74% return vs 9.62%. 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?

SNAV is categorized as Large Cap Blend Equities, while UNOV is Defined Outcome. They also come from different issuers: Mohr 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 (2.02 vs 1.65), 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.