UMAR vs. AIOO

Last updated Apr 1, 2026

Compare and contrast key facts about Innovator U.S. Equity Ultra Buffer ETF - March (UMAR) and AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO).

UMAR and AIOO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UMAR is a passively managed fund by Innovator that tracks the performance of the S&P 500 Index. It was launched on Feb 28, 2020. AIOO is an actively managed fund by Allianz. It was launched on Jun 30, 2025.

Performance

UMAR vs. AIOO - Performance Comparison

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

UMAR vs. AIOO - Yearly Performance Comparison

	2026 (YTD)	2025
UMAR Innovator U.S. Equity Ultra Buffer ETF - March	-0.53%	6.25%
AIOO AllianzIM U.S. Equity Buffer100 Protection ETF	0.01%	2.67%

Returns By Period

In the year-to-date period, UMAR achieves a -0.53% return, which is significantly lower than AIOO's 0.01% return.

UMAR

• 1D: 1.42%
• 1M: -2.24%
• YTD: -0.53%
• 6M: 1.87%
• 1Y: 11.79%
• 3Y*: 11.43%
• 5Y*: 6.82%
• 10Y*: —

AIOO

• 1D: 0.08%
• 1M: -0.25%
• YTD: 0.01%
• 6M: 0.80%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UMAR vs. AIOO - Expense Ratio Comparison

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

UMAR

Innovator U.S. Equity Ultra Buffer ETF - March

AIOO

AllianzIM U.S. Equity Buffer100 Protection ETF

Return for Risk

UMAR vs. AIOO — Risk / Return Rank

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

UMAR

UMAR Risk / Return Rank: 84
UMAR Sharpe Ratio Rank: 81
UMAR Sortino Ratio Rank: 85
UMAR Omega Ratio Rank: 89
UMAR Calmar Ratio Rank: 78
UMAR Martin Ratio Rank: 90

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.

UMAR vs. AIOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Ultra Buffer ETF - March (UMAR) 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.

	UMAR	AIOO	Difference
Sharpe ratio Return per unit of total volatility	1.55	—	—
Sortino ratio Return per unit of downside risk	2.26	—	—
Omega ratio Gain probability vs. loss probability	1.38	—	—
Calmar ratio Return relative to maximum drawdown	2.14	—	—
Martin ratio Return relative to average drawdown	11.57	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	UMAR	AIOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.55	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.05	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	1.82	-0.90

Correlation

The correlation between UMAR and AIOO is 0.71, 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

UMAR vs. AIOO - Dividend Comparison

Neither UMAR nor AIOO has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

UMAR vs. AIOO - Drawdown Comparison

The maximum UMAR drawdown since its inception was -11.08%, which is greater than AIOO's maximum drawdown of -0.74%. Use the drawdown chart below to compare losses from any high point for UMAR and AIOO.

Drawdown Indicators

	UMAR	AIOO	Difference
Max Drawdown Largest peak-to-trough decline	-11.08%	-0.74%	-10.34%
Max Drawdown (1Y) Largest decline over 1 year	-5.56%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-8.72%	—	—
Current Drawdown Current decline from peak	-2.24%	-0.45%	-1.79%
Average Drawdown Average peak-to-trough decline	-1.67%	-0.19%	-1.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.03%	—	—

Volatility

Volatility by Period

	UMAR	AIOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.74%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.83%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	7.65%	1.99%	+5.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.51%	1.99%	+4.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.58%	1.99%	+5.59%