AJUL vs PNOV
Innovator Equity Defined Protection ETF - 2 Yr to July 2026 vs Innovator US Equity Power Buffer ETF - November
Which is better, AJUL or PNOV?
PNOV has been ahead.
PNOV led over 1Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | AJUL | PNOV |
|---|---|---|
| Expense Ratio | 0.79%Tie | 0.79%Tie |
| AUM | $98M | $838M |
| Dividend Yield | 0.00% | 0.00% |
| Holdings | 21 | 18 |
| YTD Return | +4.38% | +9.87%Best |
| 1Y Return | +6.14% | +11.76%Best |
| 3Y Return (annualized) | - | +11.02% |
| 5Y Return (annualized) | - | +8.54% |
| Volatility (annualized) | 3.4%Best | 6.1% |
| Max Drawdown | -6.1%Best | -10.3% |
| $10,000 over 2.3 years | $11,752 | $12,676Best |
| Fund Family | Innovator ETFs Trust | Innovator ETFs Trust |
| Category | Alternative | Alternative |
| Style | Multi Alternative | Multi Alternative |
| Inception | Jul 1, 2024 | Oct 31, 2019 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 2.3 years row, are measured over the window both funds cover: Jul 1, 2024 to Oct 14, 2026 (2.3 years).
AJUL vs PNOV growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2.3 years both funds cover.
AJUL vs PNOV Performance
Innovator Equity Defined Protection ETF - 2 Yr to July 2026 (AJUL) is an ETF from Innovator ETFs Trust and Innovator US Equity Power Buffer ETF - November (PNOV) is an ETF from Innovator ETFs Trust. Over the past year AJUL returned +6.14% while PNOV returned +11.76%. Year to date, AJUL is up 4.38% versus a gain of 9.87% for PNOV.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PNOV has been the more volatile fund, with annualized monthly volatility of 6.1% compared with 3.4% for AJUL. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -6.1% for AJUL and -10.3% for PNOV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
AJUL charges 0.79% per year while PNOV charges 0.79%. On a $10,000 position that is $79 vs $79 annually. On income, AJUL currently yields 0.00% against 0.00% for PNOV.
You are not choosing between two funds in isolation.
Whichever of AJUL and PNOV you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, AJUL or PNOV?
AJUL has an expense ratio of 0.79% while PNOV charges 0.79%. At the precision these are quoted to, they cost the same.
Which performed better, AJUL or PNOV?
Over the past year AJUL returned +6.14% vs +11.76% for PNOV, so PNOV leads on 1-year performance. Over the longest common window we track (2 years), AJUL annualized +7.27% vs +10.86% for PNOV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, AJUL or PNOV?
PNOV has been the more volatile fund at 6.1% annualized versus 3.4% for AJUL. Worst drawdown: AJUL -6.1% vs PNOV -10.3%.
Should I hold both AJUL and PNOV?
AJUL and PNOV have a monthly-return correlation of 0.83, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, AJUL or PNOV?
AJUL yields 0.00% while PNOV yields 0.00%, so PNOV currently pays the higher dividend yield.
Is PNOV better than AJUL?
PNOV led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.