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UDEC vs USEP

Innovator U.S. Equity Ultra Buffer ETF - December

UDECCCboe

Innovator U.S. Equity Ultra Buffer ETF

USEPBCboe

Overlap

0.3%by weight

Expense ratio

Same figure. Both funds show the same value, so neither comes out ahead.

UDEC0.79%USEP0.79%

Avg volume · 30D

USEP 3.8×the volume

UDEC12.4KUSEP46.7K

5Y return · a year

USEP +0.5pt

UDEC+7.5%USEP+8.0%

UDEC vs USEP Performance

Oct 29, 2021 – Oct 30, 2026

+43.9%UDEC+47.3%USEP

Oct 29, 2021 to Oct 30, 2026. UDEC +43.9%. USEP +47.3%. Use the arrow keys to read each point.−10%0%10%20%30%Oct 2021Apr 2024Oct 2026
Expense ratio
UDEC 0.79%
USEP 0.79%
Fund size
UDEC $235M
USEP $243M
1Y total return
UDEC +10.2%, better
USEP +7.5%
Yield (12M)
UDEC No data
USEP 0.00%
Holdings
UDEC 3
USEP 4
Avg volume (30D)
UDEC 12.4K sh
USEP 46.7K sh, better
NAV per share
UDEC $42.86
USEP $41.90
52W range

ETF.net Grade

UDEC: Cost 50, Risk 60, Mission not scored, Tradability 54, Holdings not scored, Durability 49. USEP: Cost 50, Risk 43, Mission not scored, Tradability 72, Holdings 59, Durability 66.
Pillar letters and Scores for UDEC, USEP, with each pillar’s weight
PillarUDECUSEP
Cost30% weightC50C50
Mission25% weightNot scoredNot scored
Risk15% weightB60HigherC43
Tradability15% weightC54A72Higher
Holdings10% weightNot scoredB59
Durability5% weightC49B66Higher

Rank among S&P 500 Ultra Buffer 30% funds

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

Same Category. UDEC and USEP are both graded against the same 13 S&P 500 Ultra Buffer 30% funds, so their Grades compare head to head.

S&P 500 Ultra Buffer 30%⁠

Category · 13 funds
See all 13 ›

USEP ranks 2nd and UDEC 5th of 13 funds in the S&P 500 Ultra Buffer 30% Category.

  1. Rank 1BUJANInnovator U.S. Equity Ultra Buffer ETFScore 57
  2. Rank 2BUJUNInnovator U.S. Equity Ultra Buffer ETF - JuneScore 55
  3. Rank 2CUOCTInnovator U.S. Equity Ultra Buffer ETF OctoberScore 55
  4. Rank 2BUSEPInnovator U.S. Equity Ultra Buffer ETFScore 55
  5. Rank 5CUDECInnovator U.S. Equity Ultra Buffer ETF - DecemberScore 52
  6. Rank 6CUAUGInnovator U.S. Equity Ultra Buffer ETF - AugustScore 51

UDEC vs USEP Holdings

How UDEC and USEP differ

Overlap by weight

0.3%

Shared holdings make up 0.5% of USEP and 0.3% of UDEC.

Level by level

  • Holdings1 in both0.3%
  • Asset classEquity100%
  • Countryby domicile100%
  • Sector11 Sectors99.6%

Sector

Sector weights in UDEC and USEP, widest gap first
SectorMore in UDECMore in USEP
TechnologyUSEP +0.4 points
FinancialsUDEC +0.2 points
Health CareUDEC +0.1 points
IndustrialsSame weight
Consumer StaplesUDEC +0.1 points
Consumer DiscretionaryUSEP +0.1 points
CommunicationUSEP +0.1 points
EnergySame weight
UtilitiesSame weight
Real EstateSame weight
MaterialsSame weight

Country, concentration and asset class

Country by domicile

Country weights in UDEC and USEP, widest gap first
CountryMore in UDECMore in USEP
United StatesSame weight
SwitzerlandSame weight
ChinaSame weight
MexicoSame weight
IrelandSame weight
United KingdomSame weight

Concentration

Weight in the 10 largest Holdings

  • UDEC101.4%
  • USEP102.1%

Securities held

  • UDEC3
  • USEP4

Asset class

UDEC
Equity
USEP
Equity

Holdings

  • Only in UDEC2
  • In both1
  • Only in USEP3

Only in UDEC

2 securities, 100% of UDEC by weight

  • Spy 11/30/2026 6.82 C100.91%
  • Spy 11/30/2026 649.22 P0.19%

Only in USEP

3 securities, 100% of USEP by weight

  • Vanguard S&P 500 ETF97.48%
  • Voo 08/31/2027 669.65 P4.00%
  • Voo 08/31/2027 733.06 C0.10%

Weight gaps

All 1 Holdings in both funds, largest gap first.

Holding weights in UDEC and USEP, widest gap first
HoldingMore in UDECMore in USEP
Us Bank Mmda - Usbgfs 9 09/01/2037USEP +0.21 points

All 6 UDEC holdings⁠All 6 USEP holdings⁠

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.

UDEC vs USEP Cost

Same expense ratio

$15,174

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

  • UDEC 0.79%

    $15,174

  • USEP 0.79%

    $15,174

$10,000
30 years

Cost over time

  • UDEC 0.79%
  • USEP 0.79%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530UDEC $15,174USEP $15,174

Year by year

YearUDECUSEP
10$1,405$1,405
20$5,331$5,331
30$15,174$15,174

Expense ratio

  • 0.79%UDEC
  • 0.79%USEP
  • Middle half of S&P 500 Ultra Buffer 30% funds
  • Median 0.79%

UDEC 2nd cheapest of 13 funds

USEP 2nd cheapest of 13 funds

UDEC vs USEP Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
UDEC No data
USEP 0.00%
Payout (12M)
UDEC None
USEP None

Distribution history

Per share, 2019, same scale for both

UDECAll UDEC payments⁠

No distribution history available.

USEP1 paymentAll USEP payments⁠
One bar per payment. 1 payment in 2019. Nov 19, 2019 $0.16. Use the arrow keys to read each point.$0$0.102019

UDEC vs USEP Risk

Fall from peak · 5 years

  • UDEC
  • USEP
Oct 29, 2021 to Oct 30, 2026. Worst fall: USEP −11.8% · Oct 2022. Use the arrow keys to read each point.−12.5%−10%−7.5%−5%−2.5%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
UDEC 7.0%USEP 6.0%, better
Return per unit of riskSharpe ratio, 3 years
UDEC 1.33USEP 1.36, better
Worst fallMax drawdown, 5 years
UDEC −10.3%, betterUSEP −11.8%
Market sensitivityBeta, 5 years
UDEC 0.55USEP 0.48

Popular comparisons

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    Expense ratio
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    Category
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    Expense ratio
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