Innovator S&P 500 Power Buffer ETF - September (PSEP) Performance
PSEP total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +7.1% since Dec 31, 2025
- 1 year
- +8.7% total return
- 5 years
- +9.4% a year
- Since first price
- +9.4% a year since 2019
PSEP trailing returns vs SPY, QQQ, AGG
| Period | PSEP total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −0.3% | −0.3% | −1.0% | −5.0% | +0.9% |
| 3 months | +1.5% | +1.5% | +3.2% | +1.9% | −0.4% |
| 6 months | +4.4% | +4.4% | +7.8% | +8.4% | −1.5% |
| YTD | +7.1% | +7.1% | +12.3% | +15.1% | −1.0% |
| 1 year | +8.7% | +8.7% | +14.4% | +15.9% | −1.1% |
| 3 years | +45.9%+13.4%/yr | +45.9% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +56.8%+9.4%/yr | +56.8% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionSep 3, 2019 | +90.4%+9.4%/yr | +90.4% | — | — | — |
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: PSEP vs SPY
From Sep 3, 2019: PSEP grew to $19,041, SPY to $29,023.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
PSEP returns by calendar year
5 of 6 full years positive. Best 2023 (+18.8%), worst 2022 (−3.7%). 2026 is year to date.
PSEP annual returns table
| Year | PSEP | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +7.1% | −4.1% | +12.3% | +15.1% | −1.0% |
| 2025 | +11.9% | −9.9% | +17.7% | +20.8% | +7.2% |
| 2024 | +12.4% | −2.3% | +24.9% | +25.6% | +1.3% |
| 2023 | +18.8% | −5.5% | +26.2% | +54.9% | +5.7% |
| 2022 | −3.7% | −9.8% | −18.2% | −32.6% | −13.0% |
| 2021 | +8.8% | −2.5% | +28.7% | +27.4% | −1.8% |
| 2020 | +8.5% | −17.9% | +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.
PSEP largest drawdowns
Now 1.2% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 19, 2020 | −17.9% | Mar 23, 2020 | Jul 14, 2020 | 33 days | 5 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
PSEP risk statistics
| Statistic | 3 years | 5 years | Since 2019 |
|---|---|---|---|
| Annualized return | +13.1% | +10.0% | +9.5% |
| Volatility (annualized) | 6.0% | 8.0% | 8.4% |
| Sharpe ratio | 1.37 | 0.80 | 0.81 |
| Sortino ratio | 2.89 | 1.31 | 1.31 |
| Best month | +5.6% | +5.6% | +7.3% |
| Worst month | −3.0% | −5.5% | −6.7% |
| Best 12 months | +19.5% | +19.9% | +24.0% |
| Worst 12 months | +5.2% | −4.3% | −4.6% |
| Positive months | 72% | 67% | 69% |
| Beta vs S&P 500 | 0.47 | 0.49 | — |
| Correlation with S&P 500 | 0.96 | 0.96 | — |
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.
PSEP rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 74 | −4.6% | +10.9% | +24.0% | 89% |
| 3-year (a year) | 50 | +3.8% | +8.7% | +15.6% | 100% |
| 5-year (a year) | 26 | +8.4% | +9.4% | +10.7% | 100% |
Every holding period starting at a month-end since 2019. Returns for 3 years and longer are annualized.
PSEP performance overview
Innovator S&P 500 Power Buffer ETF - September (PSEP) returned +8.7% over the past year and +9.4% a year over five years, with distributions reinvested. Since its first recorded price in 2019 it has returned +9.4% a year, turning $10,000 into about $19,041. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −17.9%, from Feb 19, 2020 to Mar 23, 2020, and it took 4 months to get back to the old high. PSEP finished 5 of its 6 full calendar years with a gain; the best year was 2023 (+18.8%) and the worst 2022 (−3.7%). Volatility has been 8.4% a year.
Related: PSEP chart, PSEP holdings, PSEP valuation. See the PSEP overview for the latest quote and fund facts.
PSEP performance FAQ
What is the PSEP return over the past year?
PSEP returned +8.7% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 8.7%.
What is the average annual return of PSEP?
PSEP has returned +9.4% a year over 5 years, +9.4% a year since September 3, 2019 (total return, distributions reinvested).
How much would $10,000 invested in PSEP be worth?
$10,000 invested in PSEP at its first recorded close on September 3, 2019 would be worth about $19,041 on October 23, 2026 with distributions reinvested.
What was the worst year for PSEP?
The worst calendar year was 2022, with a total return of −3.7%. The best was 2023 at +18.8%.
What is the biggest drawdown of PSEP?
The largest peak-to-trough decline was −17.9% between February 19, 2020 and March 23, 2020. It recovered to the old high on July 14, 2020, 4 months after the bottom.
How volatile is PSEP?
Over the past 3 years PSEP had an annualized volatility of 6.0% and a Sharpe ratio of 1.37 (excess return over 1–3 month T-bills per unit of risk).