UAUG vs. XDQQ

Last updated Jun 4, 2026

UAUG (Innovator U.S. Equity Ultra Buffer ETF - August) and XDQQ (Innovator Growth Accelerated ETF - Quarterly) are both exchange-traded funds - UAUG is a Defined Outcome fund tracking the S&P 500, while XDQQ is a Leveraged Equities fund actively managed by Innovator. UAUG is passively managed, while XDQQ is actively managed. Over the past 5 years, UAUG returned 7.97%/yr vs 8.32%/yr for XDQQ. Their correlation of 0.83 suggests significant overlap in exposure. Both charge a 0.79% expense ratio.

Performance

UAUG vs. XDQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Ultra Buffer ETF - August (UAUG) and Innovator Growth Accelerated ETF - Quarterly (XDQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UAUG achieves a 4.84% return, which is significantly higher than XDQQ's 2.58% return.

UAUG

• 1D: -0.10%
• 1M: 1.60%
• YTD: 4.84%
• 6M: 5.32%
• 1Y: 15.19%
• 3Y*: 14.57%
• 5Y*: 7.97%
• 10Y*: —

XDQQ

• 1D: -0.05%
• 1M: 1.36%
• YTD: 2.58%
• 6M: 2.48%
• 1Y: 17.06%
• 3Y*: 17.94%
• 5Y*: 8.32%
• 10Y*: —

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

UAUG vs. XDQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
UAUG Innovator U.S. Equity Ultra Buffer ETF - August	4.84%	12.42%	15.51%	17.71%	-10.81%	3.58%
XDQQ Innovator Growth Accelerated ETF - Quarterly	2.58%	13.75%	31.47%	30.15%	-33.74%	18.29%

Correlation

The correlation between UAUG and XDQQ is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (All Time) Calculated using the full available price history since Apr 5, 2021	0.83

The correlation between UAUG and XDQQ has been stable across timeframes, ranging from 0.81 to 0.83 - a consistent structural relationship.

UAUG vs. XDQQ - Sectors Allocation Comparison

Sectors	UAUG	XDQQ
Technology	36.2%	50.7%
Financial Services	11.9%	0.2%
Communication Services	10.9%	15.8%
Consumer Cyclical	10.1%	12.5%
Healthcare	8.4%	5.1%
Industrials	8.1%	3.3%
Consumer Defensive	4.9%	8.7%
Energy	3.5%	0.7%
Utilities	2.3%	1.6%
Real Estate	1.9%	0.1%
Basic Materials	1.8%	1.3%

Return for Risk

UAUG vs. XDQQ — Risk / Return Rank

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

UAUG

UAUG Risk / Return Rank: 86
UAUG Sharpe Ratio Rank: 84
UAUG Sortino Ratio Rank: 89
UAUG Omega Ratio Rank: 89
UAUG Calmar Ratio Rank: 76
UAUG Martin Ratio Rank: 89

XDQQ

XDQQ Risk / Return Rank: 35
XDQQ Sharpe Ratio Rank: 34
XDQQ Sortino Ratio Rank: 31
XDQQ Omega Ratio Rank: 39
XDQQ Calmar Ratio Rank: 30
XDQQ Martin Ratio Rank: 41

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.

UAUG vs. XDQQ - 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 Growth Accelerated ETF - Quarterly (XDQQ). 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	XDQQ	Difference
Sharpe ratio: Return per unit of total volatility	2.78	1.24	+1.54
Sortino ratio: Return per unit of downside risk	4.11	1.70	+2.40
Omega ratio: Gain probability vs. loss probability	1.57	1.26	+0.32
Calmar ratio: Return relative to maximum drawdown	3.85	1.45	+2.40
Martin ratio: Return relative to average drawdown	20.38	6.57	+13.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UAUG vs. XDQQ - Sharpe Ratio Comparison

The current UAUG Sharpe Ratio is 2.78, which is higher than the XDQQ Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of UAUG and XDQQ, 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

	UAUG	XDQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.78	1.24	+1.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.01	0.42	+0.59
Sharpe Ratio (All Time) Calculated using the full available price history	0.91	0.46	+0.45

Drawdowns

UAUG vs. XDQQ - Drawdown Comparison

The maximum UAUG drawdown since its inception was -13.91%, smaller than the maximum XDQQ drawdown of -35.63%. Use the drawdown chart below to compare losses from any high point for UAUG and XDQQ.

Drawdown Indicators

	UAUG	XDQQ	Difference
Max Drawdown Largest peak-to-trough decline	-13.91%	-35.63%	+21.72%
Max Drawdown (1Y) Largest decline over 1 year	-3.96%	-11.84%	+7.88%
Max Drawdown (3Y) Largest decline over 3 years	-10.35%	-23.17%	+12.82%
Max Drawdown (5Y) Largest decline over 5 years	-13.91%	-35.63%	+21.72%
Current Drawdown Current decline from peak	-0.10%	-0.05%	-0.05%
Average Drawdown Average peak-to-trough decline	-2.36%	-10.84%	+8.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.75%	2.60%	-1.85%

Volatility

UAUG vs. XDQQ - Volatility Comparison

Innovator U.S. Equity Ultra Buffer ETF - August (UAUG) has a higher volatility of 0.60% compared to Innovator Growth Accelerated ETF - Quarterly (XDQQ) at 0.40%. This indicates that UAUG's price experiences larger fluctuations and is considered to be riskier than XDQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UAUG	XDQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.60%	0.40%	+0.20%
Volatility (6M) Calculated over the trailing 6-month period	4.13%	11.13%	-7.00%
Volatility (1Y) Calculated over the trailing 1-year period	5.51%	13.81%	-8.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.89%	19.81%	-11.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.72%	19.66%	-10.94%

UAUG vs. XDQQ - Expense Ratio Comparison

Both UAUG and XDQQ have an expense ratio of 0.79%.

Dividends

UAUG vs. XDQQ - Dividend Comparison

Neither UAUG nor XDQQ has paid dividends to shareholders.

Position	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%
XDQQ Innovator Growth Accelerated ETF - Quarterly	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both UAUG and XDQQ in my portfolio?

UAUG and XDQQ have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UAUG or XDQQ?

UAUG has higher volatility (0.60%) compared to XDQQ (0.40%). In terms of maximum drawdown, UAUG dropped -13.91% vs XDQQ's -35.63%.

Which ETF is better, UAUG or XDQQ?

On 5-year performance, XDQQ leads with 8.32% vs 7.97% for UAUG. Both ETFs have the same 0.79% expense ratio. On volatility, XDQQ has been the lower-risk option at 0.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UAUG or XDQQ?

Over the 5-year period, XDQQ has performed better with a 8.32% return vs 7.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UAUG or XDQQ?

UAUG and XDQQ have the same expense ratio: 0.79% per year.

Which ETF pays a higher dividend yield, UAUG or XDQQ?

UAUG and XDQQ have nearly identical dividend yields, around 0.00%.

What is the main difference between UAUG and XDQQ?

UAUG is categorized as Defined Outcome, while XDQQ is Leveraged Equities.

Which has better risk-adjusted returns?

UAUG currently has the higher Sharpe Ratio (2.78 vs 1.24), 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.