USEP vs CGO

Comparison between Innovator U.S. Equity Ultra Buffer ETF - September (USEP, ETF) and Calamos Global Total Return Fund (CGO, ETF).

5-Year PerformanceUSEP has outperformed CGO, delivering a return of +8.0% compared to +4.5%

USEP vs CGO - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	USEP(ETF)	CGO(ETF)
Net Assets	$152M	$152M
Expense Ratio	0.79%	N/A
Max Drawdown	13.37%	67.04%
Sharpe Ratio	1.32	0.90
5Y Beta	0.44	0.86
5Y Dividends CAGR	N/A	-2.64%

Net Assets

Winner

USEP

$152M

CGO

$152M

Expense Ratio

USEP

0.79%

CGO

N/A

Max Drawdown

Winner

USEP

13.37%

CGO

67.04%

Sharpe Ratio

Winner

USEP

1.32

CGO

0.90

5Y Beta

Winner

USEP

0.44

CGO

0.86

5Y Dividends CAGR

USEP

N/A

CGO

-2.64%

USEP vs CGO - Historical Returns

Returns include dividend reinvestment.

Period	USEP	CGO
1 month	+0.75%	-5.42%
3 months	+2.86%	+5.48%
6 months	+4.82%	+9.07%
1 year	+10.69%	+19.47%
5 years(CAGR)	+8.01%	+4.49%
10 years(CAGR)	N/A	+11.14%
Max(CAGR)	+7.96%	+8.59%

Winner

USEP

+0.75%

CGO

-5.42%

USEP

+2.86%

Winner

CGO

+5.48%

USEP

+4.82%

Winner

CGO

+9.07%

USEP

+10.69%

Winner

CGO

+19.47%

5Y(CAGR)

Winner

USEP

+8.01%

CGO

+4.49%

10Y(CAGR)

USEP

N/A

CGO

+11.14%

Max(CAGR)

USEP

+7.96%

Winner

CGO

+8.59%

USEP vs CGO - Annual Returns (2005 - 2026)

Returns include dividend reinvestment.

Year	USEP	CGO
2026	+5.32%	+16.48%
2025	+11.84%	+8.42%
2024	+12.74%	+37.84%
2023	+19.03%	+13.13%
2022	-8.14%	-36.67%
2021	+6.46%	+13.85%
2020	+6.87%	+19.97%
2019	+3.60%	+42.30%
2018	N/A	-26.75%
2017	N/A	+55.88%
2016	N/A	+4.65%
2015	N/A	-4.42%
2014	N/A	+3.20%
2013	N/A	+11.09%
2012	N/A	+7.36%
2011	N/A	+0.18%
2010	N/A	+10.10%
2009	N/A	+57.16%
2008	N/A	-45.30%
2007	N/A	+23.11%
2006	N/A	+28.24%
2005	N/A	-4.84%

USEP vs CGO Drawdown Comparison

The maximum drawdown for USEP was -13.37%, occurring on Mar 23, 2020. Recovery took 105 trading sessions.

The maximum drawdown for CGO was -59.93%, occurring on Oct 9, 2008. Recovery took 734 trading sessions.

The current USEP drawdown is -0.40%. The current CGO drawdown is -7.55%.

Rank	USEP	CGO
#1	-13.37% Feb 12, 2020 - Jul 14, 2020	-59.93% Dec 7, 2007 - Nov 5, 2010
#2	-11.84% Jan 4, 2022 - Jun 13, 2023	-50.77% Feb 13, 2020 - Aug 28, 2020
#3	-9.72% Feb 19, 2025 - Jun 9, 2025	-43.70% Sep 7, 2021 - Sep 9, 2025
#4	-4.64% Sep 1, 2023 - Nov 14, 2023	-34.62% Jan 25, 2018 - Dec 26, 2019
#5	-4.03% Feb 25, 2026 - Apr 13, 2026	-27.59% Jul 21, 2015 - Feb 24, 2017
#6	-3.12% Sep 2, 2020 - Nov 5, 2020	-22.13% Jul 19, 2007 - Oct 11, 2007
#7	-2.43% Jul 31, 2023 - Aug 29, 2023	-21.55% May 2, 2011 - Mar 29, 2012
#8	-2.21% Jul 31, 2024 - Aug 13, 2024	-16.41% Jul 14, 2014 - Apr 28, 2015
#9	-2.17% Mar 28, 2024 - May 6, 2024	-15.24% Feb 26, 2026 - Apr 17, 2026
#10	-2.05% Sep 2, 2021 - Oct 21, 2021	-15.13% Mar 12, 2013 - Dec 24, 2013
#11	-2.02% Oct 27, 2025 - Dec 4, 2025	-14.31% Apr 2, 2012 - Jan 14, 2013
#12	-1.85% Aug 28, 2024 - Sep 13, 2024	-11.93% Oct 28, 2005 - May 8, 2006
#13	-1.54% Dec 11, 2024 - Jan 21, 2025	-10.89% Aug 7, 2017 - Oct 27, 2017
#14	-1.39% Nov 8, 2021 - Dec 23, 2021	-10.14% Sep 19, 2025 - Jan 13, 2026
#15	-1.34% Oct 8, 2025 - Oct 23, 2025	-9.54% Oct 14, 2020 - Nov 9, 2020

Correlation

Correlation between USEP and CGO is 0.81 which considered as a strong positive correlation - the stocks tend to move together.

0.81

-101

Dividend Comparison (2005 - 2026)

USEP vs CGO dividend yield comparison.

Year	USEP	CGO
2026	0.00%	3.80%
2025	0.00%	8.43%
2024	0.00%	8.43%
2023	0.00%	10.57%
2022	0.00%	12.68%
2021	0.00%	7.80%
2020	0.00%	8.18%
2019	0.64%	8.96%
2018	0.00%	11.81%
2017	0.00%	7.97%
2016	0.00%	11.40%
2015	0.00%	10.51%
2014	0.00%	9.08%
2013	0.00%	8.56%
2012	0.00%	8.73%
2011	0.00%	8.80%
2010	0.00%	8.28%
2009	0.00%	8.36%
2008	0.00%	14.64%
2007	0.00%	6.71%
2006	0.00%	5.88%
2005	0.00%	0.71%