UOCT vs. SFLR

Last updated Aug 1, 2026

UOCT (Innovator U.S. Equity Ultra Buffer ETF October) and SFLR (Innovator Equity Managed Floor ETF) are both exchange-traded funds - UOCT is a Defined Outcome fund tracking the S&P 500 Index, while SFLR is a Options Trading fund actively managed by Innovator. UOCT is passively managed, while SFLR is actively managed. Over the past 3 years, UOCT returned 11.31%/yr vs 13.20%/yr for SFLR. Their correlation of 0.84 means they have usually moved in the same direction. UOCT charges 0.79%/yr vs 0.89%/yr for SFLR.

Performance

UOCT vs. SFLR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Ultra Buffer ETF October (UOCT) and Innovator Equity Managed Floor ETF (SFLR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UOCT achieves a 6.37% return, which is significantly higher than SFLR's 4.20% return.

UOCT

• 1D: 0.51%
• 1M: 0.93%
• 6M: 5.62%
• YTD: 6.37%
• 1Y: 12.03%
• 3Y*: 11.31%
• 5Y*: 8.40%
• 10Y*: —
• ALL TIME*: 7.23%

SFLR

• 1D: 0.39%
• 1M: -0.65%
• 6M: 3.61%
• YTD: 4.20%
• 1Y: 13.26%
• 3Y*: 13.20%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.75%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SFLR Innovator Equity Managed Floor ETF	$6.54M	$8.39M	$12.78M
UOCT Innovator U.S. Equity Ultra Buffer ETF October	$230.60K	$267.21K	$357.00K

UOCT vs. SFLR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
UOCT Innovator U.S. Equity Ultra Buffer ETF October	6.37%	10.67%	8.98%	18.66%	1.42%
SFLR Innovator Equity Managed Floor ETF	4.20%	13.29%	19.99%	21.20%	0.42%

Correlation

The correlation between UOCT and SFLR is 0.85, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.85
Correlation (3Y) Balances recent behavior with more history.	0.82
Correlation (All Time) Calculated using the full available price history since Nov 9, 2022	0.84

The correlation between UOCT and SFLR has been stable across timeframes, ranging from 0.82 to 0.85 - a consistent structural relationship.

Return for Risk

UOCT vs. SFLR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

UOCT

UOCT Risk / Return Rank: 83
UOCT Sharpe Ratio Rank: 83
UOCT Sortino Ratio Rank: 83
UOCT Omega Ratio Rank: 85
UOCT Calmar Ratio Rank: 75
UOCT Martin Ratio Rank: 87

SFLR

SFLR Risk / Return Rank: 50
SFLR Sharpe Ratio Rank: 49
SFLR Sortino Ratio Rank: 45
SFLR Omega Ratio Rank: 50
SFLR Calmar Ratio Rank: 49
SFLR Martin Ratio Rank: 55

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

UOCT vs. SFLR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Ultra Buffer ETF October (UOCT) and Innovator Equity Managed Floor ETF (SFLR). 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.

	UOCT	SFLR	Difference
Sharpe ratio: Return per unit of total volatility	1.95	1.20	+0.75
Sortino ratio: Return per unit of downside risk	2.73	1.65	+1.08
Omega ratio: Gain probability vs. loss probability	1.37	1.23	+0.15
Calmar ratio: Return relative to maximum drawdown	2.63	1.76	+0.88
Martin ratio: Return relative to average drawdown	12.75	6.53	+6.22

UOCT vs. SFLR - Sharpe Ratio Comparison

The current UOCT Sharpe Ratio is 1.95, which is higher than the SFLR Sharpe Ratio of 1.20. The chart below compares the historical Sharpe Ratios of UOCT and SFLR, 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

UOCT vs. SFLR - Drawdown Comparison

The maximum UOCT drawdown since its inception was -13.68%, which is greater than SFLR's maximum drawdown of -12.13%. Use the drawdown chart below to compare losses from any high point for UOCT and SFLR.

Drawdown Indicators

	UOCT	SFLR	Difference
Max Drawdown Largest peak-to-trough decline	-13.68%	-12.13%	-1.55%
Max Drawdown (1Y) Largest decline over 1 year	-4.24%	-6.79%	+2.55%
Max Drawdown (3Y) Largest decline over 3 years	-9.21%	-12.13%	+2.92%
Max Drawdown (5Y) Largest decline over 5 years	-9.21%	—	—
Current Drawdown Current decline from peak	0.00%	-1.89%	+1.89%
Average Drawdown Average peak-to-trough decline	-1.50%	-1.74%	+0.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.87%	1.83%	-0.96%

Volatility

UOCT vs. SFLR - Volatility Comparison

The current volatility for Innovator U.S. Equity Ultra Buffer ETF October (UOCT) is 1.47%, while Innovator Equity Managed Floor ETF (SFLR) has a volatility of 2.50%. This indicates that UOCT experiences smaller price fluctuations and is considered to be less risky than SFLR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UOCT	SFLR	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.47%	2.50%	-1.03%
Volatility (6M) Calculated over the trailing 6-month period	4.42%	7.55%	-3.13%
Volatility (1Y) Calculated over the trailing 1-year period	5.73%	9.93%	-4.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.76%	10.27%	-3.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.62%	10.27%	-2.65%

UOCT vs. SFLR - Expense Ratio Comparison

UOCT has a 0.79% expense ratio, which is lower than SFLR's 0.89% expense ratio.

Dividends

UOCT vs. SFLR - Dividend Comparison

UOCT has not paid dividends to shareholders, while SFLR's dividend yield for the trailing twelve months is around 0.28%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
SFLR Innovator Equity Managed Floor ETF	0.28%	0.33%	0.42%	1.16%	0.06%	0.00%	0.00%	0.00%
UOCT Innovator U.S. Equity Ultra Buffer ETF October	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.33%

Frequently Asked Questions

Can I hold both UOCT and SFLR in my portfolio?

UOCT and SFLR have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UOCT or SFLR?

SFLR has higher volatility (2.50%) compared to UOCT (1.47%). In terms of maximum drawdown, UOCT dropped -13.68% vs SFLR's -12.13%.

Which ETF is better, UOCT or SFLR?

On 3-year performance, SFLR leads with 13.20% vs 11.31% for UOCT. On fees, UOCT is cheaper at 0.79% per year. On volatility, UOCT has been the lower-risk option at 1.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UOCT or SFLR?

Over the 3-year period, SFLR has performed better with a 13.20% return vs 11.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UOCT or SFLR?

UOCT is cheaper with a 0.79% expense ratio, compared with 0.89% for SFLR.

Which ETF pays a higher dividend yield, UOCT or SFLR?

SFLR has the higher dividend yield at 0.28%, compared with 0.00% for UOCT.

What is the main difference between UOCT and SFLR?

UOCT is categorized as Defined Outcome, while SFLR is Options Trading. Their fees differ too: 0.79% for UOCT and 0.89% for SFLR.

Which has better risk-adjusted returns?

UOCT currently has the higher Sharpe Ratio (1.95 vs 1.20), 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.