SPUT vs. WTPI
Compare and contrast key facts about Innovator Equity Premium Income Daily PutWrite ETF (SPUT) and WisdomTree Equity Premium Income Fund (WTPI).
SPUT and WTPI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPUT is an actively managed fund by Innovator. It was launched on Mar 13, 2025. WTPI is a passively managed fund by WisdomTree that tracks the performance of the Volos U.S. Large Cap Target 2.5% PutWrite Index. It was launched on Feb 24, 2016.
Performance
SPUT vs. WTPI - Performance Comparison
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SPUT vs. WTPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SPUT Innovator Equity Premium Income Daily PutWrite ETF | -1.53% | 13.20% |
WTPI WisdomTree Equity Premium Income Fund | -1.66% | 17.74% |
Returns By Period
In the year-to-date period, SPUT achieves a -1.53% return, which is significantly higher than WTPI's -1.66% return.
SPUT
- 1D
- 1.33%
- 1M
- -1.85%
- YTD
- -1.53%
- 6M
- 0.99%
- 1Y
- 12.08%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
WTPI
- 1D
- 2.60%
- 1M
- -3.50%
- YTD
- -1.66%
- 6M
- 1.99%
- 1Y
- 15.64%
- 3Y*
- 13.04%
- 5Y*
- 9.37%
- 10Y*
- 7.80%
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SPUT vs. WTPI - Expense Ratio Comparison
SPUT has a 0.79% expense ratio, which is higher than WTPI's 0.44% expense ratio.
Return for Risk
SPUT vs. WTPI — Risk / Return Rank
SPUT
WTPI
SPUT vs. WTPI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Premium Income Daily PutWrite ETF (SPUT) and WisdomTree Equity Premium Income Fund (WTPI). 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.
| SPUT | WTPI | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.01 | 1.10 | -0.09 |
Sortino ratioReturn per unit of downside risk | 1.33 | 1.65 | -0.31 |
Omega ratioGain probability vs. loss probability | 1.26 | 1.27 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.33 | 1.62 | -0.30 |
Martin ratioReturn relative to average drawdown | 7.51 | 8.70 | -1.19 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPUT | WTPI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.01 | 1.10 | -0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.77 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.59 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.93 | 0.61 | +0.32 |
Correlation
The correlation between SPUT and WTPI is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
SPUT vs. WTPI - Dividend Comparison
SPUT's dividend yield for the trailing twelve months is around 6.04%, less than WTPI's 12.37% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
SPUT Innovator Equity Premium Income Daily PutWrite ETF | 6.04% | 4.66% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
WTPI WisdomTree Equity Premium Income Fund | 12.37% | 13.18% | 11.99% | 8.94% | 3.27% | 0.00% | 1.43% | 1.47% | 6.46% | 3.52% | 2.27% |
Drawdowns
SPUT vs. WTPI - Drawdown Comparison
The maximum SPUT drawdown since its inception was -10.55%, smaller than the maximum WTPI drawdown of -28.40%. Use the drawdown chart below to compare losses from any high point for SPUT and WTPI.
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Drawdown Indicators
| SPUT | WTPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.55% | -28.40% | +17.85% |
Max Drawdown (1Y)Largest decline over 1 year | -9.52% | -9.90% | +0.38% |
Max Drawdown (5Y)Largest decline over 5 years | — | -16.56% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -28.40% | — |
Current DrawdownCurrent decline from peak | -2.35% | -4.73% | +2.38% |
Average DrawdownAverage peak-to-trough decline | -0.98% | -3.48% | +2.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.68% | 1.85% | -0.17% |
Volatility
SPUT vs. WTPI - Volatility Comparison
The current volatility for Innovator Equity Premium Income Daily PutWrite ETF (SPUT) is 3.53%, while WisdomTree Equity Premium Income Fund (WTPI) has a volatility of 4.77%. This indicates that SPUT experiences smaller price fluctuations and is considered to be less risky than WTPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPUT | WTPI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.53% | 4.77% | -1.24% |
Volatility (6M)Calculated over the trailing 6-month period | 6.12% | 7.82% | -1.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.02% | 14.33% | -2.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.92% | 12.21% | -0.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.92% | 13.23% | -1.31% |