AIPO vs PNOV

Comparison between DEFIANCE AI & POWER INFRASTRUCTURE ETF (AIPO, ETF) and Innovator U.S. Equity Power Buffer ETF - November (PNOV, ETF).

AIPO vs PNOV - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	AIPO(ETF)	PNOV(ETF)
Net Assets	$888M	$883M
Expense Ratio	0.69%	0.79%
Max Drawdown	24.36%	18.51%
Sharpe Ratio	1.11	1.23
5Y Beta	2.10	0.48
P/E Ratio	-170.38	N/A
Forward P/E	28.27	N/A
5Y EPS CAGR	24.85%	N/A
Debt to Equity	83.11%	N/A
P/S Ratio	4.24	N/A
P/B Ratio	5.50	N/A

Net Assets

Winner

AIPO

$888M

PNOV

$883M

Expense Ratio

Winner

AIPO

0.69%

PNOV

0.79%

Max Drawdown

AIPO

24.36%

Winner

PNOV

18.51%

Sharpe Ratio

AIPO

1.11

Winner

PNOV

1.23

5Y Beta

AIPO

2.10

Winner

PNOV

0.48

P/E Ratio

AIPO

-170.38

PNOV

N/A

Forward P/E

AIPO

28.27

PNOV

N/A

5Y EPS CAGR

AIPO

24.85%

PNOV

N/A

Debt to Equity

AIPO

83.11%

PNOV

N/A

P/S Ratio

AIPO

4.24

PNOV

N/A

P/B Ratio

AIPO

5.50

PNOV

N/A

AIPO vs PNOV - Historical Returns

Returns include dividend reinvestment.

Period	AIPO	PNOV
1 month	-4.52%	+1.58%
3 months	-9.91%	+3.00%
6 months	+10.55%	+7.53%
1 year	+47.21%	+12.47%
5 years(CAGR)	N/A	+8.32%
Max(CAGR)	+38.67%	+8.72%

AIPO

-4.52%

Winner

PNOV

+1.58%

AIPO

-9.91%

Winner

PNOV

+3.00%

Winner

AIPO

+10.55%

PNOV

+7.53%

Winner

AIPO

+47.21%

PNOV

+12.47%

5Y(CAGR)

AIPO

N/A

PNOV

+8.32%

Max(CAGR)

Winner

AIPO

+38.67%

PNOV

+8.72%

AIPO vs PNOV - Annual Returns (2019 - 2026)

Returns include dividend reinvestment.

Year	AIPO	PNOV
2026	+24.88%	+8.19%
2025	+8.68%	+10.47%
2024	N/A	+10.23%
2023	N/A	+14.34%
2022	N/A	-2.61%
2021	N/A	+7.75%
2020	N/A	+9.99%
2019	N/A	+2.27%

AIPO vs PNOV Drawdown Comparison

The maximum drawdown for AIPO was -24.36%, occurring on Jul 29, 2026. This drawdown has not yet recovered.

The maximum drawdown for PNOV was -18.51%, occurring on Mar 23, 2020. Recovery took 114 trading sessions.

The current AIPO drawdown is -16.85%. The current PNOV drawdown is -0.33%.

Rank	AIPO	PNOV
#1	-24.36% Jun 22, 2026 - Jul 29, 2026	-18.51% Feb 19, 2020 - Jul 31, 2020
#2	-17.31% Oct 29, 2025 - Feb 11, 2026	-10.63% Dec 29, 2021 - Nov 30, 2022
#3	-13.47% Jun 2, 2026 - Jun 22, 2026	-10.35% Feb 19, 2025 - Jun 6, 2025
#4	-11.21% Feb 25, 2026 - Apr 9, 2026	-8.55% Sep 14, 2023 - Jan 19, 2024
#5	-9.21% Oct 15, 2025 - Oct 29, 2025	-4.85% Feb 2, 2026 - Apr 14, 2026
#6	-8.87% May 14, 2026 - Jun 2, 2026	-4.72% Feb 2, 2023 - Apr 13, 2023
#7	-6.14% Aug 12, 2025 - Sep 10, 2025	-3.79% Dec 1, 2022 - Jan 23, 2023
#8	-4.26% May 6, 2026 - May 14, 2026	-2.95% Jul 31, 2023 - Sep 14, 2023
#9	-3.64% Sep 22, 2025 - Oct 1, 2025	-2.37% Nov 12, 2025 - Nov 28, 2025
#10	-3.41% Apr 24, 2026 - Apr 30, 2026	-2.17% Nov 16, 2021 - Dec 23, 2021
#11	-3.02% Oct 9, 2025 - Oct 13, 2025	-1.95% May 1, 2023 - May 18, 2023
#12	-2.24% Jul 30, 2025 - Aug 12, 2025	-1.88% Jan 21, 2021 - Feb 4, 2021
#13	-1.96% Feb 11, 2026 - Feb 19, 2026	-1.84% Jul 31, 2024 - Aug 13, 2024
#14	-1.14% Oct 6, 2025 - Oct 8, 2025	-1.79% Jun 2, 2026 - Jul 6, 2026
#15	-1.06% Apr 20, 2026 - Apr 22, 2026	-1.78% Sep 2, 2020 - Oct 7, 2020