BUYW vs ZSEP
Main BuyWrite ETF vs Innovator Equity Defined Protection ETF - 1 Yr September
Which is better, BUYW or ZSEP?
Each has led over a different period.
ZSEP has a lower expense ratio. BUYW led over the full window, ZSEP over 1Y. The two have moved almost in lockstep, correlation 0.91.
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 | BUYW | ZSEP |
|---|---|---|
| Expense Ratio | 0.99% | 0.79%Best |
| AUM | $1.5B | $231M |
| Dividend Yield | 5.97% | 0.00% |
| Holdings | 44 | 20 |
| YTD Return | +2.17% | +4.19%Best |
| 1Y Return | +3.56% | +5.45%Best |
| 3Y Return (annualized) | +7.50% | - |
| Volatility (annualized) | 3.3% | 2.6%Best |
| Max Drawdown | -9.4% | -4.0%Best |
| $10,000 over 2.1 years | $11,380Best | $11,369 |
| Fund Family | Main Management Fund Advisors, LLC | Innovator ETFs Trust |
| Category | Alternative | Alternative |
| Style | Option Writing | Option Writing |
| Inception | Dec 29, 2015 | Aug 31, 2024 |
Not shown on this pair: 5Y Return (annualized), Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 2.1 years row, are measured over the window both funds cover: Sep 3, 2024 to Oct 14, 2026 (2.1 years).
BUYW vs ZSEP 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 2.1 years both funds cover.
BUYW vs ZSEP Performance
Main BuyWrite ETF (BUYW) is an ETF from Main Management Fund Advisors, LLC and Innovator Equity Defined Protection ETF - 1 Yr September (ZSEP) is an ETF from Innovator ETFs Trust. Over the past year BUYW returned +3.56% while ZSEP returned +5.45%. Year to date, BUYW is up 2.17% versus a gain of 4.19% for ZSEP.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
BUYW has been the more volatile fund, with annualized monthly volatility of 3.3% compared with 2.6% for ZSEP. 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 -9.4% for BUYW and -4.0% for ZSEP. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.91. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
BUYW charges 0.99% per year while ZSEP charges 0.79%. On a $10,000 position that is $99 vs $79 annually, a gap of $20 per year that compounds over a long holding period. On income, BUYW currently yields 5.97% against 0.00% for ZSEP.
Holdings Overlap
We hold position weights for 9 holdings in BUYW and 1 in ZSEP, totalling 115.1% and 98.7% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 9 positions we hold weights for in BUYW and 1 in ZSEP, against full books of 44 and 20.
You are not choosing between two funds in isolation.
Whichever of BUYW and ZSEP 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, BUYW or ZSEP?
BUYW has an expense ratio of 0.99% while ZSEP charges 0.79%. ZSEP is the cheaper option, by $20 a year on a $10,000 investment.
Which performed better, BUYW or ZSEP?
Over the past year BUYW returned +3.56% vs +5.45% for ZSEP, so ZSEP leads on 1-year performance. Over the longest common window we track (2 years), BUYW annualized +6.35% vs +6.30% for ZSEP. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BUYW or ZSEP?
BUYW has been the more volatile fund at 3.3% annualized versus 2.6% for ZSEP. Worst drawdown: BUYW -9.4% vs ZSEP -4.0%.
Should I hold both BUYW and ZSEP?
BUYW and ZSEP have a monthly-return correlation of 0.91, 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.
Which pays a higher dividend, BUYW or ZSEP?
BUYW yields 5.97% while ZSEP yields 0.00%, so BUYW currently pays the higher dividend yield.
Is ZSEP better than BUYW?
ZSEP has a lower expense ratio. BUYW led over the full window, ZSEP over 1Y. The two have moved almost in lockstep, correlation 0.91. Which one suits a particular account depends on what it is for. This is information, not a recommendation.