UMAR vs. BUFF
Compare and contrast key facts about Innovator U.S. Equity Ultra Buffer ETF - March (UMAR) and Innovator Laddered Allocation Power Buffer ETF (BUFF).
UMAR and BUFF 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. BUFF is a passively managed fund by Innovator that tracks the performance of the Refinitiv Laddered Power Buffer Strategy Index. It was launched on Oct 20, 2016. Both UMAR and BUFF 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
UMAR vs. BUFF - Performance Comparison
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UMAR vs. BUFF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
UMAR Innovator U.S. Equity Ultra Buffer ETF - March | -0.53% | 11.94% | 12.94% | 12.22% | -5.49% | 7.31% | 5.16% |
BUFF Innovator Laddered Allocation Power Buffer ETF | -0.90% | 11.02% | 12.05% | 16.51% | -4.44% | 8.37% | -3.87% |
Returns By Period
In the year-to-date period, UMAR achieves a -0.53% return, which is significantly higher than BUFF's -0.90% return.
UMAR
- 1D
- 1.42%
- 1M
- -2.24%
- YTD
- -0.53%
- 6M
- 1.87%
- 1Y
- 11.79%
- 3Y*
- 11.43%
- 5Y*
- 6.82%
- 10Y*
- —
BUFF
- 1D
- 1.46%
- 1M
- -1.89%
- YTD
- -0.90%
- 6M
- 1.13%
- 1Y
- 12.07%
- 3Y*
- 11.21%
- 5Y*
- 7.68%
- 10Y*
- —
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UMAR vs. BUFF - Expense Ratio Comparison
UMAR has a 0.79% expense ratio, which is lower than BUFF's 0.89% expense ratio.
Return for Risk
UMAR vs. BUFF — Risk / Return Rank
UMAR
BUFF
UMAR vs. BUFF - 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 Innovator Laddered Allocation Power Buffer ETF (BUFF). 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 | BUFF | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.55 | 1.23 | +0.31 |
Sortino ratioReturn per unit of downside risk | 2.26 | 1.84 | +0.42 |
Omega ratioGain probability vs. loss probability | 1.38 | 1.32 | +0.06 |
Calmar ratioReturn relative to maximum drawdown | 2.14 | 1.72 | +0.42 |
Martin ratioReturn relative to average drawdown | 11.57 | 9.71 | +1.86 |
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
| UMAR | BUFF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.55 | 1.23 | +0.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.05 | 0.92 | +0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.92 | 0.46 | +0.46 |
Correlation
The correlation between UMAR and BUFF is 0.81, 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. BUFF - Dividend Comparison
Neither UMAR nor BUFF has paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
UMAR Innovator U.S. Equity Ultra Buffer ETF - March | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
BUFF Innovator Laddered Allocation Power Buffer ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.78% | 1.26% | 1.74% | 1.55% | 0.18% |
Drawdowns
UMAR vs. BUFF - Drawdown Comparison
The maximum UMAR drawdown since its inception was -11.08%, smaller than the maximum BUFF drawdown of -46.23%. Use the drawdown chart below to compare losses from any high point for UMAR and BUFF.
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Drawdown Indicators
| UMAR | BUFF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.08% | -46.23% | +35.15% |
Max Drawdown (1Y)Largest decline over 1 year | -5.56% | -7.15% | +1.59% |
Max Drawdown (5Y)Largest decline over 5 years | -8.72% | -10.24% | +1.52% |
Current DrawdownCurrent decline from peak | -2.24% | -2.18% | -0.06% |
Average DrawdownAverage peak-to-trough decline | -1.67% | -6.29% | +4.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.03% | 1.27% | -0.24% |
Volatility
UMAR vs. BUFF - Volatility Comparison
Innovator U.S. Equity Ultra Buffer ETF - March (UMAR) and Innovator Laddered Allocation Power Buffer ETF (BUFF) have volatilities of 2.74% and 2.61%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UMAR | BUFF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.74% | 2.61% | +0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 3.83% | 4.05% | -0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.65% | 9.82% | -2.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.51% | 8.40% | -1.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.58% | 17.83% | -10.25% |