PNOV vs AIPO

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

PNOV vs AIPO - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

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

Net Assets

PNOV

$883M

Winner

AIPO

$888M

Expense Ratio

PNOV

0.79%

Winner

AIPO

0.69%

Max Drawdown

Winner

PNOV

18.51%

AIPO

24.36%

Sharpe Ratio

Winner

PNOV

1.23

AIPO

1.11

5Y Beta

Winner

PNOV

0.48

AIPO

2.10

P/E Ratio

PNOV

N/A

AIPO

-170.38

Forward P/E

PNOV

N/A

AIPO

28.27

5Y EPS CAGR

PNOV

N/A

AIPO

24.85%

Debt to Equity

PNOV

N/A

AIPO

83.11%

P/S Ratio

PNOV

N/A

AIPO

4.24

P/B Ratio

PNOV

N/A

AIPO

5.50

PNOV vs AIPO - Historical Returns

Returns include dividend reinvestment.

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

Winner

PNOV

+1.58%

AIPO

-4.52%

Winner

PNOV

+3.00%

AIPO

-9.91%

PNOV

+7.53%

Winner

AIPO

+10.55%

PNOV

+12.47%

Winner

AIPO

+47.21%

5Y(CAGR)

PNOV

+8.32%

AIPO

N/A

Max(CAGR)

PNOV

+8.72%

Winner

AIPO

+38.67%

PNOV vs AIPO - Annual Returns (2019 - 2026)

Returns include dividend reinvestment.

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

PNOV vs AIPO Drawdown Comparison

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

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

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

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