UAUG vs. AAPR
Compare and contrast key facts about Innovator U.S. Equity Ultra Buffer ETF - August (UAUG) and Innovator Equity Defined Protection ETF - 2 Yr To April 2026 (AAPR).
UAUG and AAPR are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UAUG is a passively managed fund by Innovator that tracks the performance of the S&P 500. It was launched on Jul 31, 2019. AAPR is an actively managed fund by Innovator. It was launched on Mar 28, 2024.
Performance
UAUG vs. AAPR - Performance Comparison
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UAUG vs. AAPR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
UAUG Innovator U.S. Equity Ultra Buffer ETF - August | -1.44% | 12.42% | 8.89% |
AAPR Innovator Equity Defined Protection ETF - 2 Yr To April 2026 | 1.32% | 7.79% | 6.25% |
Returns By Period
In the year-to-date period, UAUG achieves a -1.44% return, which is significantly lower than AAPR's 1.32% return.
UAUG
- 1D
- 1.51%
- 1M
- -2.18%
- YTD
- -1.44%
- 6M
- 0.09%
- 1Y
- 13.65%
- 3Y*
- 13.31%
- 5Y*
- 6.83%
- 10Y*
- —
AAPR
- 1D
- 0.00%
- 1M
- 0.56%
- YTD
- 1.32%
- 6M
- 3.06%
- 1Y
- 10.02%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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UAUG vs. AAPR - Expense Ratio Comparison
Both UAUG and AAPR have an expense ratio of 0.79%.
Return for Risk
UAUG vs. AAPR — Risk / Return Rank
UAUG
AAPR
UAUG vs. AAPR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Ultra Buffer ETF - August (UAUG) and Innovator Equity Defined Protection ETF - 2 Yr To April 2026 (AAPR). 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.
| UAUG | AAPR | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.45 | 1.86 | -0.41 |
Sortino ratioReturn per unit of downside risk | 2.14 | 2.79 | -0.64 |
Omega ratioGain probability vs. loss probability | 1.35 | 1.60 | -0.25 |
Calmar ratioReturn relative to maximum drawdown | 2.24 | 2.41 | -0.17 |
Martin ratioReturn relative to average drawdown | 11.20 | 16.22 | -5.02 |
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
| UAUG | AAPR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.45 | 1.86 | -0.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.87 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.82 | 1.58 | -0.76 |
Correlation
The correlation between UAUG and AAPR is 0.84, 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
UAUG vs. AAPR - Dividend Comparison
Neither UAUG nor AAPR has paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
UAUG Innovator U.S. Equity Ultra Buffer ETF - August | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.83% |
AAPR Innovator Equity Defined Protection ETF - 2 Yr To April 2026 | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
UAUG vs. AAPR - Drawdown Comparison
The maximum UAUG drawdown since its inception was -13.91%, which is greater than AAPR's maximum drawdown of -5.99%. Use the drawdown chart below to compare losses from any high point for UAUG and AAPR.
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Drawdown Indicators
| UAUG | AAPR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.91% | -5.99% | -7.92% |
Max Drawdown (1Y)Largest decline over 1 year | -6.31% | -4.22% | -2.09% |
Max Drawdown (5Y)Largest decline over 5 years | -13.91% | — | — |
Current DrawdownCurrent decline from peak | -2.52% | 0.00% | -2.52% |
Average DrawdownAverage peak-to-trough decline | -2.41% | -0.48% | -1.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.26% | 0.63% | +0.63% |
Volatility
UAUG vs. AAPR - Volatility Comparison
Innovator U.S. Equity Ultra Buffer ETF - August (UAUG) has a higher volatility of 2.84% compared to Innovator Equity Defined Protection ETF - 2 Yr To April 2026 (AAPR) at 0.62%. This indicates that UAUG's price experiences larger fluctuations and is considered to be riskier than AAPR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UAUG | AAPR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.84% | 0.62% | +2.22% |
Volatility (6M)Calculated over the trailing 6-month period | 4.31% | 1.50% | +2.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.43% | 5.41% | +4.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.85% | 4.94% | +2.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.80% | 4.94% | +3.86% |