ZSEP vs. EINC
ZSEP (Innovator Equity Defined Protection ETF - 1 Yr September) and EINC (VanEck Energy Income ETF) are both exchange-traded funds - ZSEP is a Defined Outcome fund actively managed by Innovator, while EINC is a Energy Equities fund tracking the MVIS North America Energy Infrastructure Index. ZSEP is actively managed, while EINC is passively managed. Over the past year, ZSEP returned 6.87% vs 29.82% for EINC. At a 0.16 correlation, their price movements are largely independent. ZSEP charges 0.79%/yr vs 0.45%/yr for EINC.
Performance
ZSEP vs. EINC - Performance Comparison
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Returns By Period
In the year-to-date period, ZSEP achieves a 2.58% return, which is significantly lower than EINC's 25.97% return.
ZSEP
- 1D
- -0.11%
- 1M
- 0.16%
- YTD
- 2.58%
- 6M
- 2.42%
- 1Y
- 6.87%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EINC
- 1D
- 1.37%
- 1M
- -4.50%
- YTD
- 25.97%
- 6M
- 25.98%
- 1Y
- 29.82%
- 3Y*
- 30.36%
- 5Y*
- 21.18%
- 10Y*
- 12.03%
ZSEP vs. EINC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ZSEP Innovator Equity Defined Protection ETF - 1 Yr September | 2.58% | 6.78% | 1.42% |
EINC VanEck Energy Income ETF | 25.97% | 7.11% | 12.27% |
Correlation
The correlation between ZSEP and EINC is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since Sep 3, 2024 | 0.16 |
The correlation between ZSEP and EINC shifts across timeframes, from -0.08 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ZSEP vs. EINC — Risk / Return Rank
ZSEP
EINC
ZSEP vs. EINC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Defined Protection ETF - 1 Yr September (ZSEP) and VanEck Energy Income ETF (EINC). 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.
| ZSEP | EINC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.90 | ||
| Sortino ratioReturn per unit of downside risk | +1.71 | ||
| Omega ratioGain probability vs. loss probability | 1.59 | 1.35 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 4.76 | 3.80 | +0.96 |
| Martin ratioReturn relative to average drawdown | 24.28 | 9.63 | +14.65 |
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Drawdowns
ZSEP vs. EINC - Drawdown Comparison
The maximum ZSEP drawdown since its inception was -3.97%, smaller than the maximum EINC drawdown of -87.55%. Use the drawdown chart below to compare losses from any high point for ZSEP and EINC.
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Drawdown Indicators
| ZSEP | EINC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.97% | -87.55% | +83.58% |
Max Drawdown (1Y)Largest decline over 1 year | -1.45% | -7.89% | +6.44% |
Max Drawdown (3Y)Largest decline over 3 years | — | -16.01% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -19.87% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -68.85% | — |
Current DrawdownCurrent decline from peak | -0.25% | -4.50% | +4.25% |
Average DrawdownAverage peak-to-trough decline | -0.36% | -44.15% | +43.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.28% | 3.10% | -2.82% |
Volatility
ZSEP vs. EINC - Volatility Comparison
The current volatility for Innovator Equity Defined Protection ETF - 1 Yr September (ZSEP) is 0.52%, while VanEck Energy Income ETF (EINC) has a volatility of 6.51%. This indicates that ZSEP experiences smaller price fluctuations and is considered to be less risky than EINC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZSEP | EINC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.52% | 6.51% | -5.99% |
Volatility (6M)Calculated over the trailing 6-month period | 1.86% | 11.88% | -10.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.42% | 15.10% | -12.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.31% | 19.54% | -16.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.31% | 25.43% | -22.12% |
ZSEP vs. EINC - Expense Ratio Comparison
ZSEP has a 0.79% expense ratio, which is higher than EINC's 0.45% expense ratio.
Dividends
ZSEP vs. EINC - Dividend Comparison
ZSEP has not paid dividends to shareholders, while EINC's dividend yield for the trailing twelve months is around 3.51%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EINC VanEck Energy Income ETF | 3.51% | 4.51% | 3.33% | 3.77% | 2.89% | 6.03% | 6.69% | 9.66% | 11.31% | 8.53% | 9.71% | 28.53% |
ZSEP Innovator Equity Defined Protection ETF - 1 Yr September | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZSEP and EINC have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EINC has higher volatility (6.51%) compared to ZSEP (0.52%). In terms of maximum drawdown, ZSEP dropped -3.97% vs EINC's -87.55%.
On 1-year performance, EINC leads with 29.82% vs 6.87% for ZSEP. On fees, EINC is cheaper at 0.45% per year. On volatility, ZSEP has been the lower-risk option at 0.52%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, EINC has performed better with a 29.82% return vs 6.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EINC is cheaper with a 0.45% expense ratio, compared with 0.79% for ZSEP.
EINC has the higher dividend yield at 3.51%, compared with 0.00% for ZSEP.
ZSEP is categorized as Defined Outcome, while EINC is Energy Equities. They also come from different issuers: Innovator and VanEck. Their fees differ too: 0.79% for ZSEP and 0.45% for EINC.
ZSEP currently has the higher Sharpe Ratio (2.89 vs 1.99), 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.
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