PAPR vs USEP
Innovator US Equity Power Buffer ETF - April vs Innovator U.S. Equity Ultra Buffer ETF - September
Which is better, PAPR or USEP?
Each has led over a different period.
PAPR led over 1Y and the full window, USEP over 3Y and 5Y.
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 | PAPR | USEP |
|---|---|---|
| Expense Ratio | 0.79%Tie | 0.79%Tie |
| AUM | $964M | $239M |
| Dividend Yield | 0.00% | 0.00% |
| Holdings | 18 | 23 |
| YTD Return | +10.66%Best | +7.42% |
| 1Y Return | +13.12%Best | +9.56% |
| 3Y Return (annualized) | +11.87% | +12.59%Best |
| 5Y Return (annualized) | +8.43% | +8.51%Best |
| Volatility (annualized) | 7.2% | 7.0%Best |
| Max Drawdown | -15.3% | -13.4%Best |
| $10,000 over 5 years | $14,988 | $15,043Best |
| Fund Family | Innovator ETFs Trust | Innovator ETFs Trust |
| Category | Alternative | Alternative |
| Style | Option Writing | Option Writing |
| Inception | Mar 29, 2019 | Aug 30, 2019 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Sep 3, 2019 to Oct 14, 2026 (7.1 years).
PAPR vs USEP 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.
PAPR vs USEP Performance
Innovator US Equity Power Buffer ETF - April (PAPR) is an ETF from Innovator ETFs Trust and Innovator U.S. Equity Ultra Buffer ETF - September (USEP) is an ETF from Innovator ETFs Trust. Over the past year PAPR returned +13.12% while USEP returned +9.56%. Year to date, PAPR is up 10.66% versus a gain of 7.42% for USEP.
Over three years, PAPR compounded at +11.87% per year against +12.59% for USEP; over five years the annualized figures are +8.43% and +8.51% respectively. Across the full 7-year window we track, PAPR has the edge at +8.09% annualized vs +7.99%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PAPR has been the more volatile fund, with annualized monthly volatility of 7.2% compared with 7.0% for USEP. 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 -15.3% for PAPR and -13.4% for USEP. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.89. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PAPR charges 0.79% per year while USEP charges 0.79%. On a $10,000 position that is $79 vs $79 annually. On income, PAPR currently yields 0.00% against 0.00% for USEP.
You are not choosing between two funds in isolation.
Whichever of PAPR and USEP 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, PAPR or USEP?
PAPR has an expense ratio of 0.79% while USEP charges 0.79%. At the precision these are quoted to, they cost the same.
Which performed better, PAPR or USEP?
Over the past year PAPR returned +13.12% vs +9.56% for USEP, so PAPR leads on 1-year performance. Over the longest common window we track (7 years), PAPR annualized +8.09% vs +7.99% for USEP. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PAPR or USEP?
PAPR has been the more volatile fund at 7.2% annualized versus 7.0% for USEP. Worst drawdown: PAPR -15.3% vs USEP -13.4%.
Should I hold both PAPR and USEP?
PAPR and USEP have a monthly-return correlation of 0.89, 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, PAPR or USEP?
PAPR yields 0.00% while USEP yields 0.00%, so USEP currently pays the higher dividend yield.
Is USEP better than PAPR?
PAPR led over 1Y and the full window, USEP over 3Y and 5Y. Which one suits a particular account depends on what it is for. This is information, not a recommendation.