TOV vs. UNOV

Last updated Jun 4, 2026

TOV (JLens 500 Jewish Advocacy U.S. ETF) and UNOV (Innovator U.S. Equity Ultra Buffer ETF - November) are both Large Cap Blend Equities funds - TOV tracks the JLens 500 Jewish Advocacy U.S. Index while UNOV tracks the Cboe S&P 500 30% (-5% to -35%) Buffer Protect November Series Index. Both are passively managed. Over the past year, TOV returned 28.12% vs 13.88% for UNOV. Their correlation of 0.92 suggests significant overlap in exposure. TOV charges 0.18%/yr vs 0.79%/yr for UNOV.

Performance

TOV vs. UNOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JLens 500 Jewish Advocacy U.S. ETF (TOV) 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, TOV achieves a 11.31% return, which is significantly higher than UNOV's 5.56% return.

TOV

• 1D: -0.60%
• 1M: 5.33%
• YTD: 11.31%
• 6M: 11.06%
• 1Y: 28.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

UNOV

• 1D: 0.15%
• 1M: 1.93%
• YTD: 5.56%
• 6M: 5.77%
• 1Y: 13.88%
• 3Y*: 10.29%
• 5Y*: 6.71%
• 10Y*: —

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

TOV vs. UNOV - Yearly Performance Comparison

	2026 (YTD)	2025
TOV JLens 500 Jewish Advocacy U.S. ETF	11.31%	17.49%
UNOV Innovator U.S. Equity Ultra Buffer ETF - November	5.56%	9.49%

Correlation

The correlation between TOV and UNOV is 0.89, 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	0.89
Correlation (All Time) Calculated using the full available price history since Feb 28, 2025	0.92

The correlation between TOV and UNOV has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.

TOV vs. UNOV - Sectors Allocation Comparison

Sectors	TOV	UNOV
Technology	35.7%	36.2%
Financial Services	11.9%	11.9%
Communication Services	11.5%	10.9%
Consumer Cyclical	9.8%	10.1%
Healthcare	8.7%	8.4%
Industrials	8.4%	8.1%
Consumer Defensive	4.8%	4.9%
Energy	3.6%	3.5%
Utilities	2.2%	2.3%
Real Estate	1.7%	1.9%
Basic Materials	1.6%	1.8%

Return for Risk

TOV vs. UNOV — Risk / Return Rank

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

TOV

TOV Risk / Return Rank: 71
TOV Sharpe Ratio Rank: 72
TOV Sortino Ratio Rank: 71
TOV Omega Ratio Rank: 70
TOV Calmar Ratio Rank: 65
TOV Martin Ratio Rank: 76

UNOV

UNOV Risk / Return Rank: 77
UNOV Sharpe Ratio Rank: 78
UNOV Sortino Ratio Rank: 82
UNOV Omega Ratio Rank: 85
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.

TOV vs. UNOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JLens 500 Jewish Advocacy U.S. ETF (TOV) 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.

	TOV	UNOV	Difference
Sharpe ratio: Return per unit of total volatility	2.31	2.50	-0.19
Sortino ratio: Return per unit of downside risk	3.17	3.63	-0.46
Omega ratio: Gain probability vs. loss probability	1.42	1.51	-0.09
Calmar ratio: Return relative to maximum drawdown	3.18	3.08	+0.10
Martin ratio: Return relative to average drawdown	14.17	15.01	-0.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TOV vs. UNOV - Sharpe Ratio Comparison

The current TOV Sharpe Ratio is 2.31, which is comparable to the UNOV Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of TOV 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

	TOV	UNOV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.31	2.50	-0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.99	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.33	0.92	+0.41

Drawdowns

TOV vs. UNOV - Drawdown Comparison

The maximum TOV drawdown since its inception was -16.28%, which is greater than UNOV's maximum drawdown of -13.84%. Use the drawdown chart below to compare losses from any high point for TOV and UNOV.

Drawdown Indicators

	TOV	UNOV	Difference
Max Drawdown Largest peak-to-trough decline	-16.28%	-13.84%	-2.44%
Max Drawdown (1Y) Largest decline over 1 year	-8.89%	-4.52%	-4.37%
Max Drawdown (3Y) Largest decline over 3 years	—	-9.10%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-9.10%	—
Current Drawdown Current decline from peak	-0.60%	-0.07%	-0.53%
Average Drawdown Average peak-to-trough decline	-2.04%	-1.66%	-0.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.99%	0.93%	+1.06%

Volatility

TOV vs. UNOV - Volatility Comparison

JLens 500 Jewish Advocacy U.S. ETF (TOV) has a higher volatility of 3.72% compared to Innovator U.S. Equity Ultra Buffer ETF - November (UNOV) at 1.11%. This indicates that TOV'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

	TOV	UNOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.72%	1.11%	+2.61%
Volatility (6M) Calculated over the trailing 6-month period	9.37%	4.67%	+4.70%
Volatility (1Y) Calculated over the trailing 1-year period	12.23%	5.58%	+6.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.87%	6.83%	+11.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.87%	7.72%	+10.15%

TOV vs. UNOV - Expense Ratio Comparison

TOV has a 0.18% expense ratio, which is lower than UNOV's 0.79% expense ratio.

Dividends

TOV vs. UNOV - Dividend Comparison

TOV's dividend yield for the trailing twelve months is around 0.82%, while UNOV has not paid dividends to shareholders.

Position	TTM	2025
TOV JLens 500 Jewish Advocacy U.S. ETF	0.82%	0.76%
UNOV Innovator U.S. Equity Ultra Buffer ETF - November	0.00%	0.00%

Frequently Asked Questions

Can I hold both TOV and UNOV in my portfolio?

TOV and UNOV have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TOV or UNOV?

TOV has higher volatility (3.72%) compared to UNOV (1.11%). In terms of maximum drawdown, TOV dropped -16.28% vs UNOV's -13.84%.

Which ETF is better, TOV or UNOV?

On 1-year performance, TOV leads with 28.12% vs 13.88% for UNOV. On fees, TOV is cheaper at 0.18% per year. On volatility, UNOV has been the lower-risk option at 1.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TOV or UNOV?

Over the 1-year period, TOV has performed better with a 28.12% return vs 13.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TOV or UNOV?

TOV is cheaper with a 0.18% expense ratio, compared with 0.79% for UNOV.

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

TOV has the higher dividend yield at 0.82%, compared with 0.00% for UNOV.

What is the main difference between TOV and UNOV?

TOV tracks JLens 500 Jewish Advocacy U.S. Index, while UNOV tracks Cboe S&P 500 30% (-5% to -35%) Buffer Protect November Series Index. They also come from different issuers: JLens and Innovator. Their fees differ too: 0.18% for TOV and 0.79% for UNOV.

Which has better risk-adjusted returns?

UNOV currently has the higher Sharpe Ratio (2.50 vs 2.31), 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.