VTI vs. PAUG

Last updated Jun 16, 2026

VTI (Vanguard Total Stock Market ETF) and PAUG (Innovator U.S. Equity Power Buffer ETF - August) are both exchange-traded funds - VTI is a Large Cap Blend Equities fund tracking the CRSP US Total Market Index, while PAUG is a Defined Outcome fund tracking the Cboe S&P 500 15% Buffer Protect August Series Index. Both are passively managed. Over the past 5 years, VTI returned 12.71%/yr vs 9.23%/yr for PAUG. Their correlation of 0.92 suggests significant overlap in exposure. VTI charges 0.03%/yr vs 0.79%/yr for PAUG.

Performance

VTI vs. PAUG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Total Stock Market ETF (VTI) and Innovator U.S. Equity Power Buffer ETF - August (PAUG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VTI achieves a 11.46% return, which is significantly higher than PAUG's 5.25% return.

VTI

• 1D: 1.68%
• 1M: 2.70%
• YTD: 11.46%
• 6M: 11.76%
• 1Y: 28.40%
• 3Y*: 20.94%
• 5Y*: 12.71%
• 10Y*: 15.23%

PAUG

• 1D: 0.40%
• 1M: 1.02%
• YTD: 5.25%
• 6M: 5.77%
• 1Y: 15.45%
• 3Y*: 13.76%
• 5Y*: 9.23%
• 10Y*: —

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

VTI vs. PAUG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VTI Vanguard Total Stock Market ETF	11.46%	17.10%	23.81%	26.05%	-19.52%	25.68%	21.08%	8.57%
PAUG Innovator U.S. Equity Power Buffer ETF - August	5.25%	12.34%	15.37%	17.71%	-6.85%	7.58%	9.82%	3.60%

Correlation

The correlation between VTI and PAUG is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Aug 1, 2019	0.92

The correlation between VTI and PAUG has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

VTI vs. PAUG - Sectors Allocation Comparison

Sectors	VTI	PAUG
Technology	33.3%	38.4%
Financial Services	11.9%	11.0%
Communication Services	10.1%	10.8%
Consumer Cyclical	9.8%	10.0%
Industrials	9.5%	7.9%
Healthcare	9.1%	8.4%
Consumer Defensive	4.7%	4.6%
Energy	3.8%	3.2%
Utilities	2.7%	2.1%
Real Estate	2.4%	1.8%
Basic Materials	2.0%	1.7%

Return for Risk

VTI vs. PAUG — Risk / Return Rank

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

VTI

VTI Risk / Return Rank: 77
VTI Sharpe Ratio Rank: 79
VTI Sortino Ratio Rank: 77
VTI Omega Ratio Rank: 78
VTI Calmar Ratio Rank: 70
VTI Martin Ratio Rank: 81

PAUG

PAUG Risk / Return Rank: 90
PAUG Sharpe Ratio Rank: 90
PAUG Sortino Ratio Rank: 93
PAUG Omega Ratio Rank: 93
PAUG Calmar Ratio Rank: 80
PAUG Martin Ratio Rank: 92

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.

VTI vs. PAUG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Stock Market ETF (VTI) and Innovator U.S. Equity Power Buffer ETF - August (PAUG). 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.

	VTI	PAUG	Difference
Sharpe ratio: Return per unit of total volatility	2.25	2.80	-0.55
Sortino ratio: Return per unit of downside risk	3.04	4.19	-1.16
Omega ratio: Gain probability vs. loss probability	1.41	1.60	-0.20
Calmar ratio: Return relative to maximum drawdown	3.20	3.92	-0.72
Martin ratio: Return relative to average drawdown	14.35	21.35	-7.01

VTI vs. PAUG - Sharpe Ratio Comparison

The current VTI Sharpe Ratio is 2.25, which is comparable to the PAUG Sharpe Ratio of 2.80. The chart below compares the historical Sharpe Ratios of VTI and PAUG, 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

VTI vs. PAUG - Drawdown Comparison

The maximum VTI drawdown since its inception was -55.45%, which is greater than PAUG's maximum drawdown of -17.88%. Use the drawdown chart below to compare losses from any high point for VTI and PAUG.

Drawdown Indicators

	VTI	PAUG	Difference
Max Drawdown Largest peak-to-trough decline	-55.45%	-17.88%	-37.57%
Max Drawdown (1Y) Largest decline over 1 year	-8.92%	-3.96%	-4.96%
Max Drawdown (3Y) Largest decline over 3 years	-19.30%	-10.45%	-8.85%
Max Drawdown (5Y) Largest decline over 5 years	-25.36%	-11.76%	-13.60%
Max Drawdown (10Y) Largest decline over 10 years	-35.00%	—	—
Current Drawdown Current decline from peak	-0.49%	0.00%	-0.49%
Average Drawdown Average peak-to-trough decline	-8.02%	-1.81%	-6.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	0.72%	+1.26%

Volatility

VTI vs. PAUG - Volatility Comparison

Vanguard Total Stock Market ETF (VTI) has a higher volatility of 4.74% compared to Innovator U.S. Equity Power Buffer ETF - August (PAUG) at 1.01%. This indicates that VTI's price experiences larger fluctuations and is considered to be riskier than PAUG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VTI	PAUG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.74%	1.01%	+3.73%
Volatility (6M) Calculated over the trailing 6-month period	9.94%	4.26%	+5.68%
Volatility (1Y) Calculated over the trailing 1-year period	12.69%	5.55%	+7.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.49%	8.72%	+8.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.34%	10.58%	+7.76%

VTI vs. PAUG - Expense Ratio Comparison

VTI has a 0.03% expense ratio, which is lower than PAUG's 0.79% expense ratio.

Dividends

VTI vs. PAUG - Dividend Comparison

VTI's dividend yield for the trailing twelve months is around 1.01%, while PAUG has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PAUG Innovator U.S. Equity Power Buffer ETF - August	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.33%	0.00%	0.00%	0.00%	0.00%
VTI Vanguard Total Stock Market ETF	1.01%	1.12%	1.27%	1.44%	1.66%	1.21%	1.42%	1.78%	2.04%	1.71%	1.92%	1.98%

Frequently Asked Questions

Can I hold both VTI and PAUG in my portfolio?

With a correlation of 0.94, VTI and PAUG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, VTI or PAUG?

VTI has higher volatility (4.74%) compared to PAUG (1.01%). In terms of maximum drawdown, VTI dropped -55.45% vs PAUG's -17.88%.

Which ETF is better, VTI or PAUG?

On 5-year performance, VTI leads with 12.71% vs 9.23% for PAUG. On fees, VTI is cheaper at 0.03% per year. On volatility, PAUG has been the lower-risk option at 1.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VTI or PAUG?

Over the 5-year period, VTI has performed better with a 12.71% return vs 9.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VTI or PAUG?

VTI is cheaper with a 0.03% expense ratio, compared with 0.79% for PAUG.

Which ETF pays a higher dividend yield, VTI or PAUG?

VTI has the higher dividend yield at 1.01%, compared with 0.00% for PAUG.

What is the main difference between VTI and PAUG?

VTI is categorized as Large Cap Blend Equities, while PAUG is Defined Outcome. VTI tracks CRSP US Total Market Index, while PAUG tracks Cboe S&P 500 15% Buffer Protect August Series Index. They also come from different issuers: Vanguard and Innovator. Their fees differ too: 0.03% for VTI and 0.79% for PAUG.

Which has better risk-adjusted returns?

PAUG currently has the higher Sharpe Ratio (2.80 vs 2.25), 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.