UJUN vs. PSMD

Last updated Jun 24, 2026

UJUN (Innovator U.S. Equity Ultra Buffer ETF - June) and PSMD (Pacer Swan SOS Moderate (December) ETF) are both Large Cap Blend Equities funds. UJUN is passively managed, while PSMD is actively managed. Over the past 5 years, UJUN returned 5.95%/yr vs 8.98%/yr for PSMD. Their correlation of 0.85 suggests significant overlap in exposure. UJUN charges 0.79%/yr vs 0.75%/yr for PSMD.

Performance

UJUN vs. PSMD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Ultra Buffer ETF - June (UJUN) and Pacer Swan SOS Moderate (December) ETF (PSMD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UJUN achieves a 1.98% return, which is significantly lower than PSMD's 4.91% return.

UJUN

• 1D: -0.66%
• 1M: -1.20%
• YTD: 1.98%
• 6M: 2.05%
• 1Y: 8.54%
• 3Y*: 10.46%
• 5Y*: 5.95%
• 10Y*: —

PSMD

• 1D: -0.51%
• 1M: -0.09%
• YTD: 4.91%
• 6M: 5.01%
• 1Y: 13.69%
• 3Y*: 12.16%
• 5Y*: 8.98%
• 10Y*: —

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

UJUN vs. PSMD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
UJUN Innovator U.S. Equity Ultra Buffer ETF - June	1.98%	10.63%	12.49%	12.17%	-8.86%	5.09%	0.31%
PSMD Pacer Swan SOS Moderate (December) ETF	4.91%	11.45%	12.78%	17.46%	-4.47%	11.23%	0.55%

Correlation

The correlation between UJUN and PSMD is 0.83, 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	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (All Time) Calculated using the full available price history since Dec 23, 2020	0.85

The correlation between UJUN and PSMD has been stable across timeframes, ranging from 0.81 to 0.87 - a consistent structural relationship.

UJUN vs. PSMD - Sectors Allocation Comparison

Sectors	UJUN	PSMD
Technology	38.4%	34.1%
Financial Services	11.0%	12.6%
Communication Services	10.8%	11.2%
Consumer Cyclical	10.0%	10.6%
Healthcare	8.4%	9.4%
Industrials	7.9%	8.0%
Consumer Defensive	4.6%	5.0%
Energy	3.2%	3.2%
Utilities	2.1%	2.3%
Real Estate	1.8%	1.9%
Basic Materials	1.7%	1.8%

Return for Risk

UJUN vs. PSMD — Risk / Return Rank

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

UJUN

UJUN Risk / Return Rank: 70
UJUN Sharpe Ratio Rank: 61
UJUN Sortino Ratio Rank: 65
UJUN Omega Ratio Rank: 78
UJUN Calmar Ratio Rank: 65
UJUN Martin Ratio Rank: 83

PSMD

PSMD Risk / Return Rank: 81
PSMD Sharpe Ratio Rank: 81
PSMD Sortino Ratio Rank: 86
PSMD Omega Ratio Rank: 87
PSMD Calmar Ratio Rank: 67
PSMD Martin Ratio Rank: 84

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.

UJUN vs. PSMD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Ultra Buffer ETF - June (UJUN) and Pacer Swan SOS Moderate (December) ETF (PSMD). 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.

	UJUN	PSMD	Difference
Sharpe ratio: Return per unit of total volatility	1.87	2.40	-0.53
Sortino ratio: Return per unit of downside risk	2.75	3.55	-0.80
Omega ratio: Gain probability vs. loss probability	1.42	1.49	-0.07
Calmar ratio: Return relative to maximum drawdown	3.02	3.11	-0.09
Martin ratio: Return relative to average drawdown	15.83	16.22	-0.38

UJUN vs. PSMD - Sharpe Ratio Comparison

The current UJUN Sharpe Ratio is 1.87, which is comparable to the PSMD Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of UJUN and PSMD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

UJUN vs. PSMD - Drawdown Comparison

The maximum UJUN drawdown since its inception was -13.73%, which is greater than PSMD's maximum drawdown of -11.96%. Use the drawdown chart below to compare losses from any high point for UJUN and PSMD.

Drawdown Indicators

	UJUN	PSMD	Difference
Max Drawdown Largest peak-to-trough decline	-13.73%	-11.96%	-1.77%
Max Drawdown (1Y) Largest decline over 1 year	-2.84%	-4.42%	+1.58%
Max Drawdown (3Y) Largest decline over 3 years	-11.24%	-10.70%	-0.54%
Max Drawdown (5Y) Largest decline over 5 years	-11.96%	-11.96%	0.00%
Current Drawdown Current decline from peak	-1.59%	-0.73%	-0.86%
Average Drawdown Average peak-to-trough decline	-2.06%	-1.65%	-0.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.54%	0.85%	-0.31%

Volatility

UJUN vs. PSMD - Volatility Comparison

Innovator U.S. Equity Ultra Buffer ETF - June (UJUN) has a higher volatility of 2.24% compared to Pacer Swan SOS Moderate (December) ETF (PSMD) at 1.93%. This indicates that UJUN's price experiences larger fluctuations and is considered to be riskier than PSMD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UJUN	PSMD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.24%	1.93%	+0.31%
Volatility (6M) Calculated over the trailing 6-month period	3.88%	4.78%	-0.90%
Volatility (1Y) Calculated over the trailing 1-year period	4.60%	5.75%	-1.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.38%	8.63%	-0.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.78%	8.47%	+0.31%

UJUN vs. PSMD - Expense Ratio Comparison

UJUN has a 0.79% expense ratio, which is higher than PSMD's 0.75% expense ratio.

Dividends

UJUN vs. PSMD - Dividend Comparison

Neither UJUN nor PSMD has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
PSMD Pacer Swan SOS Moderate (December) ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.47%	0.00%	0.00%
UJUN Innovator U.S. Equity Ultra Buffer ETF - June	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.89%

Frequently Asked Questions

Can I hold both UJUN and PSMD in my portfolio?

UJUN and PSMD have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UJUN or PSMD?

UJUN has higher volatility (2.24%) compared to PSMD (1.93%). In terms of maximum drawdown, UJUN dropped -13.73% vs PSMD's -11.96%.

Which ETF is better, UJUN or PSMD?

On 5-year performance, PSMD leads with 8.98% vs 5.95% for UJUN. On fees, PSMD is cheaper at 0.75% per year. On volatility, PSMD has been the lower-risk option at 1.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UJUN or PSMD?

Over the 5-year period, PSMD has performed better with a 8.98% return vs 5.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UJUN or PSMD?

PSMD is cheaper with a 0.75% expense ratio, compared with 0.79% for UJUN.

Which ETF pays a higher dividend yield, UJUN or PSMD?

UJUN and PSMD have nearly identical dividend yields, around 0.00%.

What is the main difference between UJUN and PSMD?

They also come from different issuers: Innovator and Pacer. Their fees differ too: 0.79% for UJUN and 0.75% for PSMD.

Which has better risk-adjusted returns?

PSMD currently has the higher Sharpe Ratio (2.40 vs 1.87), 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.