UDEC vs PMO

Comparison between Innovator U.S. Equity Ultra Buffer ETF - December (UDEC, ETF) and Putnam Municipal Opportunities Trust (PMO, ETF).

5-Year PerformanceUDEC has outperformed PMO, delivering a return of +7.1% compared to -1.4%

UDEC vs PMO - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	UDEC(ETF)	PMO(ETF)
Net Assets	$312M	$310M
Expense Ratio	0.79%	N/A
Max Drawdown	13.37%	44.44%
Sharpe Ratio	1.76	0.90
5Y Beta	0.42	0.19
5Y Dividends CAGR	N/A	-7.33%

Net Assets

Winner

UDEC

$312M

PMO

$310M

Expense Ratio

UDEC

0.79%

PMO

N/A

Max Drawdown

Winner

UDEC

13.37%

PMO

44.44%

Sharpe Ratio

Winner

UDEC

1.76

PMO

0.90

5Y Beta

UDEC

0.42

Winner

PMO

0.19

5Y Dividends CAGR

UDEC

N/A

PMO

-7.33%

UDEC vs PMO - Historical Returns

Returns include dividend reinvestment.

Period	UDEC	PMO
1 month	+0.93%	+1.26%
3 months	+3.98%	-1.13%
6 months	+4.40%	+0.93%
1 year	+16.72%	+11.67%
5 years(CAGR)	+7.07%	-1.40%
10 years(CAGR)	N/A	+2.50%
Max(CAGR)	+7.15%	+5.13%

UDEC

+0.93%

Winner

PMO

+1.26%

Winner

UDEC

+3.98%

PMO

-1.13%

Winner

UDEC

+4.40%

PMO

+0.93%

Winner

UDEC

+16.72%

PMO

+11.67%

5Y(CAGR)

Winner

UDEC

+7.07%

PMO

-1.40%

10Y(CAGR)

UDEC

N/A

PMO

+2.50%

Max(CAGR)

Winner

UDEC

+7.15%

PMO

+5.13%

UDEC vs PMO - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	UDEC	PMO
2026	+4.11%	-0.39%
2025	+13.00%	+9.91%
2024	+9.89%	+2.45%
2023	+17.36%	-3.28%
2022	-9.56%	-19.78%
2021	+7.04%	+9.37%
2020	+6.31%	+9.03%
2019	+1.16%	+21.21%
2018	N/A	-4.43%
2017	N/A	+8.53%
2016	N/A	+2.30%
2015	N/A	+8.40%
2014	N/A	+18.82%
2013	N/A	-14.31%
2012	N/A	+12.61%
2011	N/A	+22.64%
2010	N/A	+4.65%
2009	N/A	+34.84%
2008	N/A	-17.87%
2007	N/A	-1.05%
2006	N/A	+10.34%
2005	N/A	-0.56%
2004	N/A	+0.91%
2003	N/A	+15.65%
2002	N/A	+1.00%
2001	N/A	+3.07%
2000	N/A	+18.39%
1999	N/A	-11.15%

UDEC vs PMO Drawdown Comparison

The maximum drawdown for UDEC was -13.37%, occurring on Mar 20, 2020. Recovery took 116 trading sessions.

The maximum drawdown for PMO was -36.47%, occurring on Oct 23, 2023. This drawdown has not yet recovered.

The current UDEC drawdown is -1.01%. The current PMO drawdown is -13.98%.

Rank	UDEC	PMO
#1	-13.37% Feb 19, 2020 - Aug 4, 2020	-36.47% Dec 23, 2021 - Oct 23, 2023
#2	-10.26% Jan 4, 2022 - Jul 13, 2023	-30.16% Apr 3, 2007 - Sep 3, 2009
#3	-8.94% Feb 19, 2025 - Jun 24, 2025	-26.06% Feb 25, 2020 - Jul 17, 2020
#4	-8.15% Jul 28, 2023 - Nov 15, 2023	-22.27% Nov 30, 2012 - Jan 15, 2015
#5	-4.44% Jan 28, 2026 - Apr 14, 2026	-15.92% Oct 18, 2010 - Aug 17, 2011
#6	-2.81% Jul 16, 2024 - Aug 15, 2024	-14.04% Aug 22, 2016 - Feb 14, 2019
#7	-2.70% Oct 12, 2020 - Nov 5, 2020	-13.12% Apr 1, 2004 - Oct 27, 2006
#8	-2.46% Nov 12, 2025 - Nov 25, 2025	-12.90% Nov 5, 1999 - Jul 11, 2000
#9	-2.31% Sep 2, 2020 - Oct 9, 2020	-10.47% Oct 7, 2002 - May 6, 2003
#10	-2.16% Dec 6, 2024 - Jan 21, 2025	-10.09% Sep 18, 2001 - Sep 4, 2002
#11	-1.96% Mar 28, 2024 - May 6, 2024	-8.71% Aug 18, 2021 - Dec 20, 2021
#12	-1.79% Oct 8, 2025 - Oct 21, 2025	-7.75% Jul 7, 2003 - Dec 18, 2003
#13	-1.45% Jul 25, 2025 - Aug 8, 2025	-7.05% Aug 5, 2020 - Dec 15, 2020
#14	-1.25% Feb 24, 2021 - Mar 12, 2021	-6.52% Feb 2, 2015 - Oct 21, 2015
#15	-1.13% Dec 11, 2025 - Dec 22, 2025	-5.79% Jul 8, 2016 - Aug 17, 2016