Innovator Defined Wealth Shield ETF (BALT) belongs to the Defined Outcome category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with BALT. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to BALT
BALT charges 0.69% annually. There are 41 ETFs in the Defined Outcome category with lower expense ratios, going as low as 0.25%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Aptus October Buffer ETF | 0.25% | — | Oct 2025 | BALT vs OCTB | |
| Aptus January Buffer ETF | 0.25% | — | Oct 2025 | BALT vs JANB | |
| Aptus April Buffer ETF | 0.25% | — | Oct 2025 | BALT vs APRB | |
| Aptus July Buffer ETF | 0.25% | — | Oct 2025 | BALT vs JULB | |
| Fidelity Dynamic Buffered Equity ETF | 0.48% | — | Apr 2024 | BALT vs FBUF |
Best Risk-Adjusted Alternatives to BALT
BALT has a PortfoliosLab risk / return rank of 94. There are 46 ETFs in the Defined Outcome category with higher risk-adjusted ranks, going as high as 99.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | 99 | — | Mar 2025 | BALT vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 98 | 19.60M | Apr 2025 | BALT vs CPSP | |
| iShares Large Cap Max Buffer Mar ETF | 98 | — | Mar 2025 | BALT vs MMAX | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | 98 | — | Apr 2025 | BALT vs ZAPR | |
| Innovator U.S. Equity Accelerated 9 Buffer ETF - A... | 98 | 133.76M | Mar 2021 | BALT vs XBAP |
Top Performing BALT Alternatives (YTD)
BALT is at 2.21% YTD. There are 232 ETFs in the Defined Outcome category with higher YTD returns, going as high as 16.35%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Leverage Shares 2x Capped Accelerated NVDA Monthly... | 16.35% | — | Aug 2025 | BALT vs NVDO | |
| Innovator U.S. Small Cap Power Buffer ETF - Februa... | 13.02% | — | Jan 2025 | BALT vs KFEB | |
| FT Vest Emerging Markets Buffer ETF - March | 12.46% | — | Mar 2025 | BALT vs TMAR | |
| Innovator Russell 2000 Power Buffer ETF - April | 12.34% | 216.78M | Mar 2020 | BALT vs KAPR | |
| FT Cboe Vest Nasdaq-100 Buffer ETF - March | 11.40% | 563.55M | Mar 2021 | BALT vs QMAR |
Lowest Volatility Alternatives to BALT
BALT has 2.16% 1-year volatility. There are 30 ETFs in the Defined Outcome category with lower 1-year volatility, going as low as 1.18%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | 1.18% | — | Mar 2025 | BALT vs PMAP | |
| FT Vest U.S. Equity Max Buffer ETF - April | 1.22% | — | Apr 2025 | BALT vs APXM | |
| PGIM S&P 500 Max Buffer ETF - May | 1.30% | — | Apr 2025 | BALT vs PMMY | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 1.36% | 19.60M | Apr 2025 | BALT vs CPSP | |
| iShares Large Cap Max Buffer Mar ETF | 1.43% | — | Mar 2025 | BALT vs MMAX |
Lowest Drawdown Alternatives to BALT
BALT has a 1-year max drawdown of -1.15%. There are 17 ETFs in the Defined Outcome category with shallower 1-year drawdowns, going as shallow as -0.35%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | -0.35% | — | Mar 2025 | BALT vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | -0.37% | 19.60M | Apr 2025 | BALT vs CPSP | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | -0.40% | — | Apr 2025 | BALT vs ZAPR | |
| iShares Large Cap Max Buffer Mar ETF | -0.46% | — | Mar 2025 | BALT vs MMAX | |
| Calamos S&P 500 Structured Alt Protection ETF - Ma... | -0.49% | 56.30M | May 2024 | BALT vs CPSM |
Other ETFs from Innovator
The 10 most viewed Innovator ETFs shown here include FFTY, BUFF, SFLR and span 6 categories. AUM among these funds goes as high as $2B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Innovator IBD 50 ETF | Large Cap Growth Equities | 30 | 20.94% | 89.40M | Apr 2015 | BALT vs FFTY | |
| Innovator Laddered Allocation Power Buffer ETF | Defined Outcome | 85 | 4.91% | 869.51M | Oct 2016 | BALT vs BUFF | |
| Innovator Equity Managed Floor ETF | Options Trading | 49 | 3.43% | 2.04B | Nov 2022 | BALT vs SFLR | |
| Innovator Deepwater Frontier Tech ETF | Technology Equities | 60 | 21.99% | 214.23M | Jul 2018 | BALT vs LOUP | |
| Innovator U.S. Equity Power Buffer ETF - January | Defined Outcome | 77 | 4.57% | 1.48B | Jan 2019 | BALT vs PJAN | |
| Innovator U.S. Equity Buffer ETF - April | Defined Outcome | 96 | 10.04% | 404.13M | Mar 2019 | BALT vs BAPR | |
| Innovator U.S. Equity Power Buffer ETF - July | Defined Outcome | 90 | 4.80% | 997.06M | Aug 2018 | BALT vs PJUL | |
| Innovator Nasdaq-100 Managed Floor ETF | Nasdaq-100, Options Trading | 54 | 3.27% | 524.53M | Jan 2024 | BALT vs QFLR | |
| Innovator U.S. Equity Power Buffer ETF October | Defined Outcome | 74 | 4.83% | 969.70M | Sep 2018 | BALT vs POCT | |
| Innovator U.S. Equity Accelerated Plus ETF | Leveraged Equities | 98 | 10.29% | 22.60M | Apr 2021 | BALT vs XTAP |
Often Compared With BALT
Investors most often compare BALT with SPY, BUFD, BSCT. These 20 comparison targets span 9 categories, based on PortfoliosLab usage data.
Compare BALT with Any Fund or Stock
Compare BALT with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair BALT with funds that move differently
Innovator Defined Wealth Shield ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to BALT.
Explore BALT Diversifiers