Innovator S&P 500 Power Buffer ETF - December (PDEC) Performance
PDEC total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +8.8% since Dec 31, 2025
- 1 year
- +11.4% total return
- 5 years
- +8.8% a year
- Since first price
- +8.8% a year since 2019
PDEC trailing returns vs SPY, QQQ, AGG
| Period | PDEC total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +0.1% | +0.1% | −1.0% | −5.0% | +0.9% |
| 3 months | +2.8% | +2.8% | +3.2% | +1.9% | −0.4% |
| 6 months | +6.0% | +6.0% | +7.8% | +8.4% | −1.5% |
| YTD | +8.8% | +8.8% | +12.3% | +15.1% | −1.0% |
| 1 year | +11.4% | +11.4% | +14.4% | +15.9% | −1.1% |
| 3 years | +48.2%+14.0%/yr | +48.2% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +52.5%+8.8%/yr | +52.5% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionDec 2, 2019 | +79.2%+8.8%/yr | +79.2% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: PDEC vs SPY
From Dec 2, 2019: PDEC grew to $17,922, SPY to $26,952.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
PDEC returns by calendar year
5 of 6 full years positive. Best 2023 (+17.4%), worst 2022 (−5.9%). 2026 is year to date.
PDEC annual returns table
| Year | PDEC | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +8.8% | −4.8% | +12.3% | +15.1% | −1.0% |
| 2025 | +12.9% | −10.8% | +17.7% | +20.8% | +7.2% |
| 2024 | +9.5% | −2.4% | +24.9% | +25.6% | +1.3% |
| 2023 | +17.4% | −7.9% | +26.2% | +54.9% | +5.7% |
| 2022 | −5.9% | −11.5% | −18.2% | −32.6% | −13.0% |
| 2021 | +9.6% | −1.9% | +28.7% | +27.4% | −1.8% |
| 2020 | +8.5% | −19.3% | +18.3% | +48.6% | +7.5% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
PDEC largest drawdowns
Now 0.9% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 19, 2020 | −19.3% | Mar 23, 2020 | Aug 5, 2020 | 33 days | 6 months |
| Jan 3, 2022 | −11.5% | Jun 16, 2022 | May 18, 2023 | 5 months | 1.4 years |
| Feb 19, 2025 | −10.8% | Apr 8, 2025 | Jun 24, 2025 | 48 days | 4 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
PDEC risk statistics
| Statistic | 3 years | 5 years | Since 2019 |
|---|---|---|---|
| Annualized return | +13.3% | +8.9% | +8.8% |
| Volatility (annualized) | 7.3% | 8.7% | 9.0% |
| Sharpe ratio | 1.17 | 0.62 | 0.68 |
| Sortino ratio | 2.55 | 1.03 | 1.10 |
| Best month | +8.4% | +8.4% | +8.4% |
| Worst month | −3.0% | −5.0% | −6.8% |
| Best 12 months | +22.1% | +22.1% | +25.1% |
| Worst 12 months | +2.7% | −7.4% | −7.4% |
| Positive months | 75% | 68% | 69% |
| Beta vs S&P 500 | 0.53 | 0.52 | — |
| Correlation with S&P 500 | 0.90 | 0.94 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
PDEC rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 71 | −7.4% | +11.0% | +25.1% | 86% |
| 3-year (a year) | 47 | +3.8% | +7.8% | +14.3% | 100% |
| 5-year (a year) | 23 | +7.4% | +8.6% | +9.6% | 100% |
Every holding period starting at a month-end since 2019. Returns for 3 years and longer are annualized.
PDEC performance overview
Innovator S&P 500 Power Buffer ETF - December (PDEC) returned +11.4% over the past year and +8.8% a year over five years, with distributions reinvested. Since its first recorded price in 2019 it has returned +8.8% a year, turning $10,000 into about $17,922. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −19.3%, from Feb 19, 2020 to Mar 23, 2020, and it took 4 months to get back to the old high. PDEC finished 5 of its 6 full calendar years with a gain; the best year was 2023 (+17.4%) and the worst 2022 (−5.9%). Volatility has been 9.0% a year.
Related: PDEC chart. See the PDEC overview for the latest quote and fund facts.
PDEC performance FAQ
What is the PDEC return over the past year?
PDEC returned +11.4% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 11.4%.
What is the average annual return of PDEC?
PDEC has returned +8.8% a year over 5 years, +8.8% a year since December 2, 2019 (total return, distributions reinvested).
How much would $10,000 invested in PDEC be worth?
$10,000 invested in PDEC at its first recorded close on December 2, 2019 would be worth about $17,922 on October 23, 2026 with distributions reinvested.
What was the worst year for PDEC?
The worst calendar year was 2022, with a total return of −5.9%. The best was 2023 at +17.4%.
What is the biggest drawdown of PDEC?
The largest peak-to-trough decline was −19.3% between February 19, 2020 and March 23, 2020. It recovered to the old high on August 5, 2020, 4 months after the bottom.
How volatile is PDEC?
Over the past 3 years PDEC had an annualized volatility of 7.3% and a Sharpe ratio of 1.17 (excess return over 1–3 month T-bills per unit of risk).