ZOCT vs. AIOO

Last updated Aug 1, 2026

ZOCT (Innovator Equity Defined Protection ETF - 1 Yr October) and AIOO (AllianzIM U.S. Equity Buffer100 Protection ETF) are both Defined Outcome funds. Both are actively managed. Over the past year, ZOCT returned 6.26% vs 4.97% for AIOO. Their 0.70 correlation means they have sometimes moved together and sometimes differently. ZOCT charges 0.79%/yr vs 0.64%/yr for AIOO.

Performance

ZOCT vs. AIOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Equity Defined Protection ETF - 1 Yr October (ZOCT) and AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ZOCT achieves a 3.41% return, which is significantly higher than AIOO's 2.41% return.

ZOCT

• 1D: 0.08%
• 1M: 0.44%
• 6M: 3.01%
• YTD: 3.41%
• 1Y: 6.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.60%

AIOO

• 1D: 0.10%
• 1M: 0.20%
• 6M: 2.08%
• YTD: 2.41%
• 1Y: 4.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.72%

*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)
AIOO AllianzIM U.S. Equity Buffer100 Protection ETF	$338.86K	$297.94K	$421.07K
ZOCT Innovator Equity Defined Protection ETF - 1 Yr October	$236.49K	$179.81K	$320.37K

ZOCT vs. AIOO - Yearly Performance Comparison

	2026 (YTD)	2025
ZOCT Innovator Equity Defined Protection ETF - 1 Yr October	3.41%	3.24%
AIOO AllianzIM U.S. Equity Buffer100 Protection ETF	2.41%	2.65%

Correlation

The correlation between ZOCT and AIOO is 0.73, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.73
Correlation (All Time) Calculated using the full available price history since Jul 1, 2025	0.70

The correlation between ZOCT and AIOO has been stable across timeframes, ranging from 0.70 to 0.73 - a consistent structural relationship.

Return for Risk

ZOCT vs. AIOO — Risk / Return Rank

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

ZOCT

ZOCT Risk / Return Rank: 94
ZOCT Sharpe Ratio Rank: 94
ZOCT Sortino Ratio Rank: 96
ZOCT Omega Ratio Rank: 95
ZOCT Calmar Ratio Rank: 91
ZOCT Martin Ratio Rank: 95

AIOO

AIOO Risk / Return Rank: 93
AIOO Sharpe Ratio Rank: 91
AIOO Sortino Ratio Rank: 93
AIOO Omega Ratio Rank: 92
AIOO Calmar Ratio Rank: 96
AIOO Martin Ratio Rank: 94

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.

ZOCT vs. AIOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Defined Protection ETF - 1 Yr October (ZOCT) 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.

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.

	ZOCT	AIOO	Difference
Sharpe ratio: Return per unit of total volatility	2.67	2.33	+0.34
Sortino ratio: Return per unit of downside risk	4.26	3.59	+0.67
Omega ratio: Gain probability vs. loss probability	1.55	1.44	+0.11
Calmar ratio: Return relative to maximum drawdown	4.05	6.44	-2.39
Martin ratio: Return relative to average drawdown	19.44	18.58	+0.86

ZOCT vs. AIOO - Sharpe Ratio Comparison

The current ZOCT Sharpe Ratio is 2.67, which is comparable to the AIOO Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of ZOCT and AIOO, 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

ZOCT vs. AIOO - Drawdown Comparison

The maximum ZOCT drawdown since its inception was -3.18%, which is greater than AIOO's maximum drawdown of -0.74%. Use the drawdown chart below to compare losses from any high point for ZOCT and AIOO.

Drawdown Indicators

	ZOCT	AIOO	Difference
Max Drawdown Largest peak-to-trough decline	-3.18%	-0.74%	-2.44%
Max Drawdown (1Y) Largest decline over 1 year	-1.46%	-0.74%	-0.72%
Current Drawdown Current decline from peak	0.00%	-0.13%	+0.13%
Average Drawdown Average peak-to-trough decline	-0.32%	-0.18%	-0.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.30%	0.26%	+0.04%

Volatility

ZOCT vs. AIOO - Volatility Comparison

Innovator Equity Defined Protection ETF - 1 Yr October (ZOCT) has a higher volatility of 0.53% compared to AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO) at 0.40%. This indicates that ZOCT's price experiences larger fluctuations and is considered to be riskier than AIOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZOCT	AIOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.53%	0.40%	+0.13%
Volatility (6M) Calculated over the trailing 6-month period	1.74%	1.39%	+0.35%
Volatility (1Y) Calculated over the trailing 1-year period	2.22%	2.05%	+0.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.96%	2.02%	+0.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.96%	2.02%	+0.94%

ZOCT vs. AIOO - Expense Ratio Comparison

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

Dividends

ZOCT vs. AIOO - Dividend Comparison

Neither ZOCT nor AIOO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ZOCT and AIOO in my portfolio?

ZOCT and AIOO have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ZOCT or AIOO?

ZOCT has higher volatility (0.53%) compared to AIOO (0.40%). In terms of maximum drawdown, ZOCT dropped -3.18% vs AIOO's -0.74%.

Which ETF is better, ZOCT or AIOO?

On 1-year performance, ZOCT leads with 6.26% vs 4.97% for AIOO. On fees, AIOO is cheaper at 0.64% per year. On volatility, AIOO has been the lower-risk option at 0.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ZOCT or AIOO?

Over the 1-year period, ZOCT has performed better with a 6.26% return vs 4.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ZOCT or AIOO?

AIOO is cheaper with a 0.64% expense ratio, compared with 0.79% for ZOCT.

Which ETF pays a higher dividend yield, ZOCT or AIOO?

ZOCT and AIOO have nearly identical dividend yields, around 0.00%.

What is the main difference between ZOCT and AIOO?

They also come from different issuers: Innovator and Allianz. Their fees differ too: 0.79% for ZOCT and 0.64% for AIOO.

Which has better risk-adjusted returns?

ZOCT currently has the higher Sharpe Ratio (2.67 vs 2.33), 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.