UAUG vs. FAAR
UAUG (Innovator U.S. Equity Ultra Buffer ETF - August) and FAAR (First Trust Alternative Absolute Return Strategy ETF) are both exchange-traded funds - UAUG is a Defined Outcome fund tracking the S&P 500, while FAAR is a Commodities fund actively managed by First Trust. UAUG is passively managed, while FAAR is actively managed. Over the past 5 years, UAUG returned 8.03%/yr vs 7.89%/yr for FAAR. At a 0.02 correlation, their price movements are largely independent. UAUG charges 0.79%/yr vs 0.95%/yr for FAAR.
Performance
UAUG vs. FAAR - Performance Comparison
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Returns By Period
In the year-to-date period, UAUG achieves a 5.12% return, which is significantly lower than FAAR's 20.23% return.
UAUG
- 1D
- -0.01%
- 1M
- 0.65%
- YTD
- 5.12%
- 6M
- 5.07%
- 1Y
- 15.38%
- 3Y*
- 14.24%
- 5Y*
- 8.03%
- 10Y*
- —
FAAR
- 1D
- -0.05%
- 1M
- -4.34%
- YTD
- 20.23%
- 6M
- 19.92%
- 1Y
- 26.86%
- 3Y*
- 10.91%
- 5Y*
- 7.89%
- 10Y*
- 4.79%
UAUG vs. FAAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
UAUG Innovator U.S. Equity Ultra Buffer ETF - August | 5.12% | 12.42% | 15.51% | 17.71% | -10.81% | 4.94% | 7.95% | 4.26% |
FAAR First Trust Alternative Absolute Return Strategy ETF | 20.23% | 8.07% | 5.97% | -5.63% | 10.15% | 12.34% | 8.60% | -1.76% |
Correlation
The correlation between UAUG and FAAR is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Aug 1, 2019 | 0.02 |
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Return for Risk
UAUG vs. FAAR — Risk / Return Rank
UAUG
FAAR
UAUG vs. FAAR - 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 First Trust Alternative Absolute Return Strategy ETF (FAAR). 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.
| UAUG | FAAR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.88 | ||
| Sortino ratioReturn per unit of downside risk | +1.41 | ||
| Omega ratioGain probability vs. loss probability | 1.60 | 1.35 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 3.90 | 4.75 | -0.85 |
| Martin ratioReturn relative to average drawdown | 20.68 | 14.70 | +5.99 |
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Drawdowns
UAUG vs. FAAR - Drawdown Comparison
The maximum UAUG drawdown since its inception was -13.91%, smaller than the maximum FAAR drawdown of -18.03%. Use the drawdown chart below to compare losses from any high point for UAUG and FAAR.
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Drawdown Indicators
| UAUG | FAAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.91% | -18.03% | +4.12% |
Max Drawdown (1Y)Largest decline over 1 year | -3.96% | -5.68% | +1.72% |
Max Drawdown (3Y)Largest decline over 3 years | -10.35% | -11.54% | +1.19% |
Max Drawdown (5Y)Largest decline over 5 years | -13.91% | -18.03% | +4.12% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.03% | — |
Current DrawdownCurrent decline from peak | -0.03% | -5.43% | +5.40% |
Average DrawdownAverage peak-to-trough decline | -2.34% | -7.82% | +5.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.75% | 1.89% | -1.14% |
Volatility
UAUG vs. FAAR - Volatility Comparison
The current volatility for Innovator U.S. Equity Ultra Buffer ETF - August (UAUG) is 1.01%, while First Trust Alternative Absolute Return Strategy ETF (FAAR) has a volatility of 2.47%. This indicates that UAUG experiences smaller price fluctuations and is considered to be less risky than FAAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UAUG | FAAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.01% | 2.47% | -1.46% |
Volatility (6M)Calculated over the trailing 6-month period | 4.19% | 9.68% | -5.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.34% | 13.37% | -8.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.91% | 12.95% | -5.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.69% | 11.53% | -2.84% |
UAUG vs. FAAR - Expense Ratio Comparison
UAUG has a 0.79% expense ratio, which is lower than FAAR's 0.95% expense ratio.
Dividends
UAUG vs. FAAR - Dividend Comparison
UAUG has not paid dividends to shareholders, while FAAR's dividend yield for the trailing twelve months is around 9.57%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FAAR First Trust Alternative Absolute Return Strategy ETF | 9.57% | 11.63% | 3.45% | 3.20% | 5.82% | 6.49% | 3.05% | 1.02% | 0.58% | 2.83% |
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% | 0.00% | 0.00% |
Frequently Asked Questions
UAUG and FAAR have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FAAR has higher volatility (2.47%) compared to UAUG (1.01%). In terms of maximum drawdown, UAUG dropped -13.91% vs FAAR's -18.03%.
On 5-year performance, UAUG leads with 8.03% vs 7.89% for FAAR. On fees, UAUG is cheaper at 0.79% per year. On volatility, UAUG has been the lower-risk option at 1.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, UAUG has performed better with a 8.03% return vs 7.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UAUG is cheaper with a 0.79% expense ratio, compared with 0.95% for FAAR.
FAAR has the higher dividend yield at 9.57%, compared with 0.00% for UAUG.
UAUG is categorized as Defined Outcome, while FAAR is Commodities. They also come from different issuers: Innovator and First Trust. Their fees differ too: 0.79% for UAUG and 0.95% for FAAR.
UAUG currently has the higher Sharpe Ratio (2.90 vs 2.02), 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.
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