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UMAY vs USEP

Innovator U.S. Equity Ultra Buffer ETF

UMAYCCboe

Innovator U.S. Equity Ultra Buffer ETF

USEPBCboe

Overlap

Expense ratio

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

UMAY0.79%USEP0.79%

Avg volume · 30D

USEP 1.9×the volume

UMAY24.4KUSEP46.7K

5Y return · a year

USEP +1.7pt

UMAY+6.3%USEP+8.0%

UMAY vs USEP Performance

Oct 29, 2021 – Oct 30, 2026

+35.8%UMAY+47.3%USEP

Oct 29, 2021 to Oct 30, 2026. UMAY +35.8%. USEP +47.3%. Use the arrow keys to read each point.−10%0%10%20%Oct 2021Apr 2024Oct 2026
Expense ratio
UMAY 0.79%
USEP 0.79%
Fund size
UMAY $83M
USEP $243M
1Y total return
UMAY +7.4%
USEP +7.5%, better
Yield (12M)
UMAY No data
USEP 0.00%
Holdings
UMAY 5
USEP 4
Avg volume (30D)
UMAY 24.4K sh
USEP 46.7K sh, better
NAV per share
UMAY $38.74
USEP $41.90
52W range

ETF.net Grade

UMAY: Cost 50, Risk 55, Mission not scored, Tradability 55, Holdings 60, Durability 29. USEP: Cost 50, Risk 43, Mission not scored, Tradability 72, Holdings 59, Durability 66.
Pillar letters and Scores for UMAY, USEP, with each pillar’s weight
PillarUMAYUSEP
Cost30% weightC50C50
Mission25% weightNot scoredNot scored
Risk15% weightB55HigherC43
Tradability15% weightB55A72Higher
Holdings10% weightB60HigherB59
Durability5% weightD29B66Higher

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. UMAY 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 UMAY 6th 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 6CUJULInnovator U.S. Equity Ultra Buffer ETF - JulyScore 51
  7. Rank 6CUMAYInnovator U.S. Equity Ultra Buffer ETFScore 51
  8. Rank 9CJULJInnovator Premium Income 30 Barrier ETFScore 50

UMAY vs 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.

UMAY vs USEP Cost

Same expense ratio

$15,174

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

  • UMAY 0.79%

    $15,174

  • USEP 0.79%

    $15,174

$10,000
30 years

Cost over time

  • UMAY 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$20K051015202530UMAY $15,174USEP $15,174

Year by year

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

Expense ratio

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

UMAY 2nd cheapest of 13 funds

USEP 2nd cheapest of 13 funds

UMAY vs USEP Dividends

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

Distribution history

Per share, 2019, same scale for both

UMAYAll UMAY 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

UMAY vs USEP Risk

Fall from peak · 5 years

  • UMAY
  • USEP
Oct 29, 2021 to Oct 30, 2026. Worst fall: UMAY −12.1% · 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
UMAY 4.2%, betterUSEP 6.0%
Return per unit of riskSharpe ratio, 3 years
UMAY 1.77, betterUSEP 1.36
Worst fallMax drawdown, 5 years
UMAY −12.1%USEP −11.8%, better
Market sensitivityBeta, 5 years
UMAY 0.30USEP 0.48

Popular comparisons

  • UMAYCvsUJANB

    Innovator U.S. Equity Ultra Buffer ETF · Innovator U.S. Equity Ultra Buffer ETF

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

  • USEPBvsUJANB

    Innovator U.S. Equity Ultra Buffer ETF · Innovator U.S. Equity Ultra Buffer ETF

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

  • UMAYCvsUJUNB

    Innovator U.S. Equity Ultra Buffer ETF · Innovator U.S. Equity Ultra Buffer ETF - June

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

  • USEPBvsUJUNB

    Innovator U.S. Equity Ultra Buffer ETF · Innovator U.S. Equity Ultra Buffer ETF - June

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

  • UMAYCvsUOCTC

    Innovator U.S. Equity Ultra Buffer ETF · Innovator U.S. Equity Ultra Buffer ETF October

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

  • USEPBvsUOCTC

    Innovator U.S. Equity Ultra Buffer ETF · Innovator U.S. Equity Ultra Buffer ETF October

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