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PDEC vs PSMO

Innovator U.S. Equity Power Buffer ETF

PDECCCboe

Pacer Swan SOS Moderate (October) ETF

PSMOBCboe

Overlap

Expense ratio

PSMO −0.30pt a year

PDEC0.79%PSMO0.49%

Avg volume · 30D

PDEC 3.0×the volume

PDEC21.9KPSMO7.3K

5Y return · a year

PSMO +1.0pt

PDEC+8.7%PSMO+9.7%

PDEC vs PSMO Performance

Oct 29, 2021 – Oct 30, 2026

+51.9%PDEC+59.2%PSMO

Oct 29, 2021 to Oct 30, 2026. PDEC +51.9%. PSMO +59.2%. Use the arrow keys to read each point.0%20%40%Oct 2021May 2024Oct 2026
Expense ratio
PDEC 0.79%
PSMO 0.49%, better
Fund size
PDEC $977M
PSMO $116M
1Y total return
PDEC +10.7%, better
PSMO +10.0%
Holdings
PDEC 3
PSMO 3
Avg volume (30D)
PDEC 21.9K sh, better
PSMO 7.3K sh
NAV per share
PDEC $47.12
PSMO $33.50
52W range

ETF.net Grade

PDEC: Cost 35, Risk 54, Mission not scored, Tradability 57, Holdings not scored, Durability 78. PSMO: Cost 70, Risk 54, Mission 95, Tradability 64, Holdings not scored, Durability 66.
Pillar letters and Scores for PDEC, PSMO, with each pillar’s weight
PillarPDECPSMO
Cost30% weightD35A70Higher
Mission25% weightNot scoredA95
Risk15% weightC54C54
Tradability15% weightB57B64Higher
Holdings10% weightNot scoredNot scored
Durability5% weightA78HigherB66

Rank among S&P 500 Buffer 15% funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. PDEC and PSMO are both graded against the same 51 S&P 500 Buffer 15% funds, so their Grades compare head to head.

S&P 500 Buffer 15%⁠

Category · 51 funds
See all 51 ›

PSMO ranks 1st and PDEC 16th of 51 funds in the S&P 500 Buffer 15% Category.

  1. Rank 1BPSMOPacer Swan SOS Moderate (October) ETFScore 64
  2. Rank 2BPSMJPacer Swan SOS Moderate (July) ETFScore 59
  3. Rank 14CPMAYInnovator U.S. Equity Power Buffer ETF - MayScore 48
  4. Rank 16CPDECInnovator U.S. Equity Power Buffer ETFScore 47
  5. Rank 16CPFEBInnovator U.S. Equity Power Buffer ETFScore 47

Our read on each fund

ETF.net Research

PDECCInnovator U.S. Equity Power Buffer ETF

PSMOBPacer Swan SOS Moderate (October) ETF

In short

PDEC The December door into Innovator's buffer lineup: it tracks SPY up to a preset cap while absorbing the first 15% of losses. Running since 2019, it resets each December 1 and can be held indefinitely.

PSMO A 15% cushion against SPY's first losses, reset every October, for 0.49% a year. Most defined-outcome funds charge more, and the trade is a cap on the upside that gets set fresh at the start of each period.

Stated mandate

PDEC The Fund seeks to track SPY’s return up to a predetermined cap and buffer investors against an initial portion of losses over the outcome period, before fees and expenses.

PSMO The fund seeks to track the returns of the SPDR S&P 500 ETF Trust up to a stated cap while buffering the first 15% of losses during an approximately one-year outcome period.

Why people hold it

  • PDEC The cushion is thick: the first 15% of SPY's losses over the outcome period are absorbed before fees. Past that, losses land one for one.sec.gov
  • Set-and-reset mechanics. The cap and 15% buffer refresh at the start of each December outcome period, and shares can be held straight through the rollover.innovatoretfs.com
  • Innovator launched the first defined-outcome buffer ETFs, and this December vintage dates to 2019. It sits among the stronger builds in its buffer peer group.innovatoretfs.com
  • PSMO Charges 0.49% a year versus a 0.79% median across its 15%-buffer peer group, one of the lower-cost ways to own this structure.
  • Pacer's moderate SOS funds (PSMD, PSMR, PSMJ) all price at 0.49%, while the Innovator power-buffer lineup (POCT, PJUL, PJAN) runs 0.79%.
  • The reference asset is the SPDR S&P 500 ETF Trust itself, not an abstract index, so what's being buffered is a fund you can watch tick by tick.paceretfs.com

Worth knowing

  • PDEC The cap is the rent you pay for the cushion. Upside above it is left on the table, and each December's cap is set by option pricing at the time.innovatoretfs.com
  • Buy mid-period and your cap and remaining buffer differ from the headline terms. Shares also trade lightly, so the spread deserves a look.innovatoretfs.com
  • At 0.79% it sits right at the buffer-category median, and laddered rivals like PSFF (0.10%) and BUFP (0.50%) run cheaper.
  • PSMO Buffer and cap are engineered for the full one-year outcome period running October through September. Buy or sell mid-period and you may get neither in full.paceretfs.com
  • Upside stops at a cap reset each October. A runaway rally in the S&P 500 is the scenario this structure hands back in exchange for the 15% cushion.paceretfs.com
  • One of the quieter tickers in the buffer aisle, so spreads and order type matter more here than with the category's household names.

Full PDEC profile⁠

Full PSMO profile⁠

PDEC vs PSMO Holdings

As of
How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

PDEC vs PSMO Cost

Overpaying PDEC vs PSMO

$5,382

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • PDEC 0.79%

    $15,174

  • PSMO 0.49%

    $9,792

$10,000
30 years

Cost over time

  • PDEC 0.79%
  • PSMO 0.49%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530PDEC $15,174PSMO $9,792

Year by year

YearPDECPSMOOverpaying
10$1,405$883$522
20$5,331$3,394$1,937
30$15,174$9,792$5,382

Expense ratio

  • 0.79%PDEC
  • 0.49%PSMO, cheaper
  • Middle half of S&P 500 Buffer 15% funds
  • Median 0.79%

PSMO 5th cheapest of 51 funds

PDEC 24th cheapest of 51 funds

PDEC vs PSMO Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
PDEC None
PSMO None

Distribution history

PDECAll PDEC payments⁠

No distribution history available.

PSMOAll PSMO payments⁠

No distribution history available.

PDEC vs PSMO Risk

Fall from peak · 5 years

  • PDEC
  • PSMO
Oct 29, 2021 to Oct 30, 2026. Worst fall: PDEC −11.5% · Jun 2022. Use the arrow keys to read each point.−10%−7.5%−5%−2.5%0%Oct 2021May 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
PDEC 7.0%PSMO 5.9%, better
Return per unit of riskSharpe ratio, 3 years
PDEC 1.31PSMO 1.31Same figure. Both funds show the same value, so neither comes out ahead.
Worst fallMax drawdown, 5 years
PDEC −11.5%PSMO −9.8%, better
Market sensitivityBeta, 5 years
PDEC 0.52PSMO 0.41

Popular comparisons

  • PDECCvsPSMJB

    Innovator U.S. Equity Power Buffer ETF · Pacer Swan SOS Moderate (July) ETF

    Expense ratio
    0.79% · 0.49%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • PSMOBvsPSMJB

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    Expense ratio
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    Category
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  • PDECCvsPSMRB

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    Expense ratio
    0.79% · 0.49%
    Category
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  • PSMOBvsPSMRB

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    Expense ratio
    0.49% · 0.49%
    Category
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  • PSMOBvsBUFCB

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    Expense ratio
    0.49% · 0.69%
    Category
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