UFEB vs. AIOO

Last updated Jun 23, 2026

UFEB (Innovator U.S. Equity Ultra Buffer ETF - February) and AIOO (AllianzIM U.S. Equity Buffer100 Protection ETF) are both Defined Outcome funds. UFEB is passively managed, while AIOO is actively managed. A 0.76 correlation means they provide meaningful diversification when combined. UFEB charges 0.79%/yr vs 0.64%/yr for AIOO.

Performance

UFEB vs. AIOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Ultra Buffer ETF - February (UFEB) and AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UFEB achieves a 4.90% return, which is significantly higher than AIOO's 2.26% return.

UFEB

• 1D: -0.15%
• 1M: 0.32%
• YTD: 4.90%
• 6M: 5.11%
• 1Y: 14.96%
• 3Y*: 11.91%
• 5Y*: 7.07%
• 10Y*: —

AIOO

• 1D: -0.04%
• 1M: 0.19%
• YTD: 2.26%
• 6M: 2.30%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UFEB vs. AIOO - Yearly Performance Comparison

	2026 (YTD)	2025
UFEB Innovator U.S. Equity Ultra Buffer ETF - February	4.90%	7.21%
AIOO AllianzIM U.S. Equity Buffer100 Protection ETF	2.26%	2.65%

Correlation

The correlation between UFEB and AIOO is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 1, 2025	0.76

Return for Risk

UFEB vs. AIOO — Risk / Return Rank

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

UFEB

UFEB Risk / Return Rank: 87
UFEB Sharpe Ratio Rank: 88
UFEB Sortino Ratio Rank: 90
UFEB Omega Ratio Rank: 90
UFEB Calmar Ratio Rank: 77
UFEB Martin Ratio Rank: 88

AIOO

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

UFEB vs. AIOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Ultra Buffer ETF - February (UFEB) and AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO). 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.

	UFEB	AIOO	Difference
Sharpe ratio: Return per unit of total volatility	2.76	—	—
Sortino ratio: Return per unit of downside risk	3.98	—	—
Omega ratio: Gain probability vs. loss probability	1.56	—	—
Calmar ratio: Return relative to maximum drawdown	3.85	—	—
Martin ratio: Return relative to average drawdown	18.76	—	—

Drawdowns

UFEB vs. AIOO - Drawdown Comparison

The maximum UFEB drawdown since its inception was -13.32%, which is greater than AIOO's maximum drawdown of -0.74%. Use the drawdown chart below to compare losses from any high point for UFEB and AIOO.

Drawdown Indicators

	UFEB	AIOO	Difference
Max Drawdown Largest peak-to-trough decline	-13.32%	-0.74%	-12.58%
Max Drawdown (1Y) Largest decline over 1 year	-3.90%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-8.69%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-9.02%	—	—
Current Drawdown Current decline from peak	-0.35%	-0.21%	-0.14%
Average Drawdown Average peak-to-trough decline	-1.91%	-0.18%	-1.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.80%	—	—

Volatility

Volatility by Period

	UFEB	AIOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.59%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.04%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	5.45%	2.06%	+3.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.31%	2.06%	+4.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.65%	2.06%	+5.59%

UFEB vs. AIOO - Expense Ratio Comparison

UFEB has a 0.79% expense ratio, which is higher than AIOO's 0.64% expense ratio.

Dividends

UFEB vs. AIOO - Dividend Comparison

Neither UFEB nor AIOO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both UFEB and AIOO in my portfolio?

UFEB and AIOO have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UFEB or AIOO?

On fees, AIOO is cheaper at 0.64% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UFEB or AIOO?

AIOO is cheaper with a 0.64% expense ratio, compared with 0.79% for UFEB.

Which ETF pays a higher dividend yield, UFEB or AIOO?

UFEB and AIOO have nearly identical dividend yields, around 0.00%.

What is the main difference between UFEB and AIOO?

They also come from different issuers: Innovator and Allianz. Their fees differ too: 0.79% for UFEB and 0.64% for AIOO.