PMAY vs PNOV
Innovator US Equity Power Buffer ETF - May vs Innovator US Equity Power Buffer ETF - November
Which is better, PMAY or PNOV?
Each has led over a different period.
PMAY led over 3Y, PNOV over 1Y, 5Y 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 | PMAY | PNOV |
|---|---|---|
| Expense Ratio | 0.79%Tie | 0.79%Tie |
| AUM | $820M | $838M |
| Dividend Yield | 0.00% | 0.00% |
| Holdings | 12 | 18 |
| YTD Return | +7.13% | +9.87%Best |
| 1Y Return | +9.34% | +11.76%Best |
| 3Y Return (annualized) | +12.43%Best | +11.02% |
| 5Y Return (annualized) | +7.24% | +8.54%Best |
| Volatility (annualized) | 6.9%Best | 7.7% |
| Max Drawdown | -13.1% | -10.6%Best |
| $10,000 over 5 years | $14,184 | $15,064Best |
| Fund Family | Innovator ETFs Trust | Innovator ETFs Trust |
| Category | Alternative | Alternative |
| Style | Multi Alternative | Multi Alternative |
| Inception | Apr 30, 2020 | Oct 31, 2019 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: May 1, 2020 to Oct 14, 2026 (6.5 years).
PMAY 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 6.5 years both funds cover.
PMAY vs PNOV Performance
Innovator US Equity Power Buffer ETF - May (PMAY) 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 PMAY returned +9.34% while PNOV returned +11.76%. Year to date, PMAY is up 7.13% versus a gain of 9.87% for PNOV.
Over three years, PMAY compounded at +12.43% per year against +11.02% for PNOV; over five years the annualized figures are +7.24% and +8.54% respectively. Across the full 7-year window we track, PNOV has the edge at +10.06% annualized vs +8.33%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PNOV has been the more volatile fund, with annualized monthly volatility of 7.7% compared with 6.9% for PMAY. 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 -13.1% for PMAY and -10.6% 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 0.87. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PMAY charges 0.79% per year while PNOV charges 0.79%. On a $10,000 position that is $79 vs $79 annually. On income, PMAY currently yields 0.00% against 0.00% for PNOV.
You are not choosing between two funds in isolation.
Whichever of PMAY 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, PMAY or PNOV?
PMAY 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, PMAY or PNOV?
Over the past year PMAY returned +9.34% vs +11.76% for PNOV, so PNOV leads on 1-year performance. Over the longest common window we track (7 years), PMAY annualized +8.33% vs +10.06% for PNOV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PMAY or PNOV?
PNOV has been the more volatile fund at 7.7% annualized versus 6.9% for PMAY. Worst drawdown: PMAY -13.1% vs PNOV -10.6%.
Should I hold both PMAY and PNOV?
PMAY and PNOV have a monthly-return correlation of 0.87, 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, PMAY or PNOV?
PMAY yields 0.00% while PNOV yields 0.00%, so PNOV currently pays the higher dividend yield.
Is PNOV better than PMAY?
PMAY led over 3Y, PNOV over 1Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.