Innovator S&P 500 Ultra Buffer ETF - May (UMAY) Performance
UMAY total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +6.0% since Dec 31, 2025
- 1 year
- +7.8% total return
- 5 years
- +6.4% a year
- Since first price
- +6.7% a year since 2020
UMAY trailing returns vs SPY, QQQ, AGG
| Period | UMAY 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 | +2.4% | +2.4% | +3.2% | +1.9% | −0.4% |
| 6 months | +3.9% | +3.9% | +7.8% | +8.4% | −1.5% |
| YTD | +6.0% | +6.0% | +12.3% | +15.1% | −1.0% |
| 1 year | +7.8% | +7.8% | +14.4% | +15.9% | −1.1% |
| 3 years | +41.3%+12.2%/yr | +41.3% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +36.2%+6.4%/yr | +36.2% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionMay 1, 2020 | +52.2%+6.7%/yr | +52.2% | — | — | — |
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: UMAY vs SPY
From May 1, 2020: UMAY grew to $15,218, SPY to $29,383.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
UMAY returns by calendar year
4 of 5 full years positive. Best 2024 (+14.3%), worst 2022 (−9.2%). 2026 is year to date.
UMAY annual returns table
| Year | UMAY | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +6.0% | −1.7% | +12.3% | +15.1% | −1.0% |
| 2025 | +8.8% | −10.5% | +17.7% | +20.8% | +7.2% |
| 2024 | +14.3% | −3.5% | +24.9% | +25.6% | +1.3% |
| 2023 | +12.5% | −5.2% | +26.2% | +54.9% | +5.7% |
| 2022 | −9.2% | −12.1% | −18.2% | −32.6% | −13.0% |
| 2021 | +5.3% | −1.5% | +28.7% | +27.4% | −1.8% |
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.
UMAY largest drawdowns
Now 1.1% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Apr 4, 2022 | −12.1% | Oct 11, 2022 | Dec 11, 2023 | 6 months | 1.7 years |
| Feb 19, 2025 | −10.5% | Apr 8, 2025 | May 16, 2025 | 48 days | 3 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
UMAY risk statistics
| Statistic | 3 years | 5 years | Since 2020 |
|---|---|---|---|
| Annualized return | +11.9% | +6.7% | +6.4% |
| Volatility (annualized) | 4.3% | 6.8% | 6.2% |
| Sharpe ratio | 1.64 | 0.47 | 0.59 |
| Sortino ratio | 4.11 | 0.67 | 0.85 |
| Best month | +5.4% | +5.4% | +5.4% |
| Worst month | −1.8% | −6.2% | −6.2% |
| Best 12 months | +20.7% | +20.7% | +20.7% |
| Worst 12 months | +7.5% | −9.2% | −9.2% |
| Positive months | 81% | 70% | 71% |
| Beta vs S&P 500 | 0.29 | 0.40 | — |
| Correlation with S&P 500 | 0.82 | 0.91 | — |
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.
UMAY rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 66 | −9.2% | +7.9% | +20.7% | 80% |
| 3-year (a year) | 42 | +1.0% | +6.0% | +12.3% | 100% |
| 5-year (a year) | 18 | +5.6% | +6.1% | +6.7% | 100% |
Every holding period starting at a month-end since 2020. Returns for 3 years and longer are annualized.
UMAY performance overview
Innovator S&P 500 Ultra Buffer ETF - May (UMAY) returned +7.8% over the past year and +6.4% a year over five years, with distributions reinvested. Since its first recorded price in 2020 it has returned +6.7% a year, turning $10,000 into about $15,218. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −12.1%, from Apr 4, 2022 to Oct 11, 2022, and it took 1.2 years to get back to the old high. UMAY finished 4 of its 5 full calendar years with a gain; the best year was 2024 (+14.3%) and the worst 2022 (−9.2%). Volatility has been 6.2% a year.
Related: UMAY chart. See the UMAY overview for the latest quote and fund facts.
UMAY performance FAQ
What is the UMAY return over the past year?
UMAY returned +7.8% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 7.8%.
What is the average annual return of UMAY?
UMAY has returned +6.4% a year over 5 years, +6.7% a year since May 1, 2020 (total return, distributions reinvested).
How much would $10,000 invested in UMAY be worth?
$10,000 invested in UMAY at its first recorded close on May 1, 2020 would be worth about $15,218 on October 23, 2026 with distributions reinvested.
What was the worst year for UMAY?
The worst calendar year was 2022, with a total return of −9.2%. The best was 2024 at +14.3%.
What is the biggest drawdown of UMAY?
The largest peak-to-trough decline was −12.1% between April 4, 2022 and October 11, 2022. It recovered to the old high on December 11, 2023, 1.2 years after the bottom.
How volatile is UMAY?
Over the past 3 years UMAY had an annualized volatility of 4.3% and a Sharpe ratio of 1.64 (excess return over 1–3 month T-bills per unit of risk).