BSEP vs YMAG
Innovator U.S. Equity Buffer ETF - September vs YieldMax Magnificent 7 Fund of Option Income ETF
Which is better, BSEP or YMAG?
YMAG has been ahead.
BSEP has a lower expense ratio. YMAG led over 1Y and the full window. BSEP is less concentrated, with 37.7% of the fund in its ten largest positions against 48.6%.
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 | YMAG |
|---|---|---|
| Expense Ratio | 0.79%Best | 1.34% |
| AUM | $470M | $294M |
| Dividend Yield | 0.00% | 57.01% |
| Holdings | 1,520 | 18 |
| YTD Return | +10.32%Best | +9.90% |
| 1Y Return | +13.43% | +13.88%Best |
| 3Y Return (annualized) | +16.86% | - |
| 5Y Return (annualized) | +11.29% | - |
| Volatility (annualized) | 7.5%Best | 17.4% |
| Max Drawdown | -13.4%Best | -26.0% |
| $10,000 over 2.7 years | $14,465 | $17,580Best |
| Top 10 Weight | 37.7%Best | 48.6% |
| Fund Family | Innovator ETFs Trust | YieldMax ETF |
| Category | Alternative | Alternative |
| Style | Option Writing | Option Writing |
| Inception | Aug 30, 2019 | Jan 29, 2024 |
Volatility and max drawdown, and the $10,000 over 2.7 years row, are measured over the window both funds cover: Jan 30, 2024 to Oct 14, 2026 (2.7 years).
BSEP vs YMAG 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 2.7 years both funds cover.
BSEP vs YMAG Performance
Innovator U.S. Equity Buffer ETF - September (BSEP) is an ETF from Innovator ETFs Trust and YieldMax Magnificent 7 Fund of Option Income ETF (YMAG) is an ETF from YieldMax ETF. Over the past year BSEP returned +13.43% while YMAG returned +13.88%. Year to date, BSEP is up 10.32% versus a gain of 9.90% for YMAG.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
YMAG has been the more volatile fund, with annualized monthly volatility of 17.4% compared with 7.5% for BSEP. 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 -13.4% for BSEP and -26.0% for YMAG. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.80. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
BSEP charges 0.79% per year while YMAG charges 1.34%. On a $10,000 position that is $79 vs $134 annually, a gap of $55 per year that compounds over a long holding period. On income, BSEP currently yields 0.00% against 57.01% for YMAG.
Holdings Overlap
39.0% of BSEP's money is in holdings YMAG also owns. 90.1% of YMAG's money is in holdings BSEP also owns.
Most of YMAG is already inside BSEP. Owning both mostly buys the same companies twice.
22 positions in common, counted across the 494 positions we hold weights for in BSEP and 25 in YMAG, against full books of 1,520 and 18.
What only one of them owns
Our book lists 1 positions for YMAG that do not appear in our book for BSEP (2.5% of the fund), and 468 for BSEP that do not appear in YMAG (59.1%).
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 YMAG | Difference |
|---|---|---|---|
| AAPLApple, Inc | 7.30% | 5.11% | 2.19% |
| NVDANvidia Corp | 7.91% | 4.15% | 3.76% |
| MSFTMicrosoft Corp | 5.51% | 5.44% | 0.07% |
| AMZNAmazon.Com Inc | 3.76% | 3.93% | 0.17% |
| GOOGLAlphabet Inc | 2.97% | 4.51% | 1.54% |
| METAMeta Platforms Inc | 2.13% | 5.32% | 3.19% |
| AMDAdvanced Micro Devices Inc | 1.26% | 5.78% | 4.52% |
| AVGOBroadcom Inc | 2.56% | 3.22% | 0.66% |
| PLTRPalantir Technologies Inc | 0.57% | 5.18% | 4.61% |
| TSLATesla Inc | 1.54% | 3.56% | 2.02% |
90.1% of YMAG is already inside BSEP.
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 YMAG?
BSEP has an expense ratio of 0.79% while YMAG charges 1.34%. BSEP is the cheaper option, by $55 a year on a $10,000 investment.
Which performed better, BSEP or YMAG?
Over the past year BSEP returned +13.43% vs +13.88% for YMAG, so YMAG leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BSEP or YMAG?
YMAG has been the more volatile fund at 17.4% annualized versus 7.5% for BSEP. Worst drawdown: BSEP -13.4% vs YMAG -26.0%.
Should I hold both BSEP and YMAG?
BSEP and YMAG have a monthly-return correlation of 0.80, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between BSEP and YMAG?
90.1% of YMAG's money is in holdings BSEP also owns. 90.1% of YMAG's is in holdings BSEP also owns. They hold 22 positions in common, counted across the 494 positions we hold weights for in BSEP and 25 in YMAG.
Which pays a higher dividend, BSEP or YMAG?
BSEP yields 0.00% while YMAG yields 57.01%, so YMAG currently pays the higher dividend yield.
Is YMAG better than BSEP?
BSEP has a lower expense ratio. YMAG led over 1Y and the full window. BSEP is less concentrated, with 37.7% of the fund in its ten largest positions against 48.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.