UDEC vs. BDEC
Compare and contrast key facts about Innovator U.S. Equity Ultra Buffer ETF - December (UDEC) and Innovator U.S. Equity Buffer ETF - December (BDEC).
UDEC and BDEC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UDEC is a passively managed fund by Innovator that tracks the performance of the S&P 500. It was launched on Nov 29, 2019. BDEC is a passively managed fund by Innovator that tracks the performance of the Cboe S&P 500 Buffer Protect Index December. It was launched on Nov 29, 2019. Both UDEC and BDEC are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
UDEC vs. BDEC - Performance Comparison
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UDEC vs. BDEC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
UDEC Innovator U.S. Equity Ultra Buffer ETF - December | -2.02% | 12.97% | 9.52% | 16.80% | -9.44% | 6.44% | 6.72% | 1.16% |
BDEC Innovator U.S. Equity Buffer ETF - December | -3.15% | 14.96% | 12.71% | 19.86% | -9.42% | 15.45% | 13.39% | 2.40% |
Returns By Period
In the year-to-date period, UDEC achieves a -2.02% return, which is significantly higher than BDEC's -3.15% return.
UDEC
- 1D
- 1.38%
- 1M
- -2.49%
- YTD
- -2.02%
- 6M
- 1.22%
- 1Y
- 13.24%
- 3Y*
- 10.86%
- 5Y*
- 6.01%
- 10Y*
- —
BDEC
- 1D
- 2.08%
- 1M
- -3.63%
- YTD
- -3.15%
- 6M
- 0.15%
- 1Y
- 14.68%
- 3Y*
- 12.37%
- 5Y*
- 8.43%
- 10Y*
- —
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UDEC vs. BDEC - Expense Ratio Comparison
Both UDEC and BDEC have an expense ratio of 0.79%.
Return for Risk
UDEC vs. BDEC — Risk / Return Rank
UDEC
BDEC
UDEC vs. BDEC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Ultra Buffer ETF - December (UDEC) and Innovator U.S. Equity Buffer ETF - December (BDEC). 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.
| UDEC | BDEC | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.52 | 1.10 | +0.42 |
Sortino ratioReturn per unit of downside risk | 2.22 | 1.66 | +0.56 |
Omega ratioGain probability vs. loss probability | 1.32 | 1.25 | +0.07 |
Calmar ratioReturn relative to maximum drawdown | 2.71 | 1.67 | +1.03 |
Martin ratioReturn relative to average drawdown | 11.87 | 8.36 | +3.51 |
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
| UDEC | BDEC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.52 | 1.10 | +0.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.85 | 0.71 | +0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.78 | 0.70 | +0.09 |
Correlation
The correlation between UDEC and BDEC is 0.91, 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
UDEC vs. BDEC - Dividend Comparison
Neither UDEC nor BDEC has paid dividends to shareholders.
Drawdowns
UDEC vs. BDEC - Drawdown Comparison
The maximum UDEC drawdown since its inception was -13.37%, smaller than the maximum BDEC drawdown of -25.60%. Use the drawdown chart below to compare losses from any high point for UDEC and BDEC.
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Drawdown Indicators
| UDEC | BDEC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.37% | -25.60% | +12.23% |
Max Drawdown (1Y)Largest decline over 1 year | -4.99% | -9.02% | +4.03% |
Max Drawdown (5Y)Largest decline over 5 years | -10.26% | -16.44% | +6.18% |
Current DrawdownCurrent decline from peak | -3.12% | -4.57% | +1.45% |
Average DrawdownAverage peak-to-trough decline | -2.21% | -3.12% | +0.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.14% | 1.81% | -0.67% |
Volatility
UDEC vs. BDEC - Volatility Comparison
The current volatility for Innovator U.S. Equity Ultra Buffer ETF - December (UDEC) is 2.54%, while Innovator U.S. Equity Buffer ETF - December (BDEC) has a volatility of 3.90%. This indicates that UDEC experiences smaller price fluctuations and is considered to be less risky than BDEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UDEC | BDEC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.54% | 3.90% | -1.36% |
Volatility (6M)Calculated over the trailing 6-month period | 5.15% | 7.20% | -2.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.75% | 13.46% | -4.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.14% | 11.94% | -4.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.08% | 14.40% | -6.32% |