BSEP vs PSEP
Innovator U.S. Equity Buffer ETF - September vs Innovator U.S. Equity Power Buffer ETF - September
Which is better, BSEP or PSEP?
BSEP has been ahead.
BSEP led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.99.
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 | BSEP | PSEP |
|---|---|---|
| Expense Ratio | 0.79%Tie | 0.79%Tie |
| AUM | $470M | $1.2B |
| Dividend Yield | 0.00% | 0.00% |
| Holdings | 1,520 | 12 |
| YTD Return | +10.32%Best | +7.66% |
| 1Y Return | +13.43%Best | +10.18% |
| 3Y Return (annualized) | +16.86%Best | +12.76% |
| 5Y Return (annualized) | +11.29%Best | +9.76% |
| Volatility (annualized) | 11.6% | 8.3%Best |
| Max Drawdown | -24.0% | -17.9%Best |
| $10,000 over 5 years | $17,072Best | $15,930 |
| Top 10 Weight | 37.7%Tie | 37.7%Tie |
| Fund Family | Innovator ETFs Trust | Innovator ETFs Trust |
| Category | Alternative | Alternative |
| Style | Option Writing | Option Writing |
| Inception | Aug 30, 2019 | Aug 30, 2019 |
Volatility and max drawdown are measured over the window both funds cover: Sep 3, 2019 to Oct 14, 2026 (7.1 years).
BSEP vs PSEP 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 7.1 years both funds cover.
BSEP vs PSEP Performance
Innovator U.S. Equity Buffer ETF - September (BSEP) is an ETF from Innovator ETFs Trust and Innovator U.S. Equity Power Buffer ETF - September (PSEP) is an ETF from Innovator ETFs Trust. Over the past year BSEP returned +13.43% while PSEP returned +10.18%. Year to date, BSEP is up 10.32% versus a gain of 7.66% for PSEP.
Over three years, BSEP compounded at +16.86% per year against +12.76% for PSEP; over five years the annualized figures are +11.29% and +9.76% respectively. Across the full 7-year window we track, BSEP has the edge at +12.08% annualized vs +9.55%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
BSEP has been the more volatile fund, with annualized monthly volatility of 11.6% compared with 8.3% for PSEP. 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 -24.0% for BSEP and -17.9% for PSEP. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.99. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
BSEP charges 0.79% per year while PSEP charges 0.79%. On a $10,000 position that is $79 vs $79 annually. On income, BSEP currently yields 0.00% against 0.00% for PSEP.
Holdings Overlap
97.9% of BSEP's money is in holdings PSEP also owns. 97.8% of PSEP's money is in holdings BSEP also owns.
Most of BSEP is already inside PSEP. Owning both mostly buys the same companies twice.
488 positions in common, counted across the 494 positions we hold weights for in BSEP and 494 in PSEP, against full books of 1,520 and 12.
What only one of them owns
Our book lists 6 positions for PSEP that do not appear in our book for BSEP (0.3% of the fund), and 6 for BSEP that do not appear in PSEP (0.3%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in BSEP | Weight in PSEP | Difference |
|---|---|---|---|
| NVDANvidia Corp | 7.91% | 7.90% | 0.01% |
| AAPLApple, Inc | 7.30% | 7.29% | 0.01% |
| MSFTMicrosoft Corp | 5.51% | 5.50% | 0.01% |
| AMZNAmazon.Com Inc | 3.76% | 3.76% | 0.00% |
| GOOGLAlphabet Inc | 2.97% | 2.97% | 0.00% |
| AVGOBroadcom Inc | 2.56% | 2.56% | 0.00% |
| GOOGAlphabet Inc. C | 2.37% | 2.37% | 0.00% |
| METAMeta Platforms Inc | 2.13% | 2.13% | 0.00% |
| MUMicron Technology, Inc. | 1.64% | 1.64% | 0.00% |
| TSLATesla Inc | 1.54% | 1.54% | 0.00% |
97.9% of BSEP is already inside PSEP.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, BSEP or PSEP?
BSEP has an expense ratio of 0.79% while PSEP charges 0.79%. At the precision these are quoted to, they cost the same.
Which performed better, BSEP or PSEP?
Over the past year BSEP returned +13.43% vs +10.18% for PSEP, so BSEP leads on 1-year performance. Over the longest common window we track (7 years), BSEP annualized +12.08% vs +9.55% for PSEP. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BSEP or PSEP?
BSEP has been the more volatile fund at 11.6% annualized versus 8.3% for PSEP. Worst drawdown: BSEP -24.0% vs PSEP -17.9%.
Should I hold both BSEP and PSEP?
BSEP and PSEP have a monthly-return correlation of 0.99, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between BSEP and PSEP?
97.9% of BSEP's money is in holdings PSEP also owns. 97.8% of PSEP's is in holdings BSEP also owns. They hold 488 positions in common, counted across the 494 positions we hold weights for in BSEP and 494 in PSEP.
Which pays a higher dividend, BSEP or PSEP?
BSEP yields 0.00% while PSEP yields 0.00%, so PSEP currently pays the higher dividend yield.
Is PSEP better than BSEP?
BSEP led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.99. Which one suits a particular account depends on what it is for. This is information, not a recommendation.