AJAN vs. SLQD
AJAN (Innovator Equity Defined Protection ETF - 2 Yr To January 2026) and SLQD (iShares 0-5 Year Investment Grade Corporate Bond ETF) are both exchange-traded funds - AJAN is a Options Trading fund actively managed by Innovator, while SLQD is a Corporate Bonds fund tracking the Markit iBoxx USD Liquid Investment Grade 0-5 Index. AJAN is actively managed, while SLQD is passively managed. Over the past year, AJAN returned 6.13% vs 4.39% for SLQD. At a 0.32 correlation, their price movements are largely independent. AJAN charges 0.79%/yr vs 0.06%/yr for SLQD.
Performance
AJAN vs. SLQD - Performance Comparison
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Returns By Period
In the year-to-date period, AJAN achieves a 2.03% return, which is significantly higher than SLQD's 0.93% return.
AJAN
- 1D
- 0.09%
- 1M
- 0.58%
- YTD
- 2.03%
- 6M
- 2.43%
- 1Y
- 6.13%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SLQD
- 1D
- 0.09%
- 1M
- 0.26%
- YTD
- 0.93%
- 6M
- 1.31%
- 1Y
- 4.39%
- 3Y*
- 5.39%
- 5Y*
- 2.54%
- 10Y*
- 2.66%
AJAN vs. SLQD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
AJAN Innovator Equity Defined Protection ETF - 2 Yr To January 2026 | 2.03% | 6.12% | 7.78% |
SLQD iShares 0-5 Year Investment Grade Corporate Bond ETF | 0.93% | 6.27% | 5.15% |
Correlation
The correlation between AJAN and SLQD is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2024 | 0.32 |
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Return for Risk
AJAN vs. SLQD — Risk / Return Rank
AJAN
SLQD
AJAN vs. SLQD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Defined Protection ETF - 2 Yr To January 2026 (AJAN) and iShares 0-5 Year Investment Grade Corporate Bond ETF (SLQD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| AJAN | SLQD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.58 | 1.61 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.74 | 4.15 | -1.41 |
| Martin ratioReturn relative to average drawdown | 13.81 | 18.88 | -5.08 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AJAN | SLQD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.61 | 2.98 | -0.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.04 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.85 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.74 | 0.85 | +0.90 |
Drawdowns
AJAN vs. SLQD - Drawdown Comparison
The maximum AJAN drawdown since its inception was -4.11%, smaller than the maximum SLQD drawdown of -12.69%. Use the drawdown chart below to compare losses from any high point for AJAN and SLQD.
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Drawdown Indicators
| AJAN | SLQD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.11% | -12.69% | +8.58% |
Max Drawdown (1Y)Largest decline over 1 year | -2.24% | -1.06% | -1.18% |
Max Drawdown (3Y)Largest decline over 3 years | — | -1.06% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -7.63% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -12.69% | — |
Current DrawdownCurrent decline from peak | -0.09% | -0.04% | -0.05% |
Average DrawdownAverage peak-to-trough decline | -0.29% | -0.87% | +0.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.44% | 0.23% | +0.21% |
Volatility
AJAN vs. SLQD - Volatility Comparison
Innovator Equity Defined Protection ETF - 2 Yr To January 2026 (AJAN) has a higher volatility of 0.65% compared to iShares 0-5 Year Investment Grade Corporate Bond ETF (SLQD) at 0.46%. This indicates that AJAN's price experiences larger fluctuations and is considered to be riskier than SLQD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AJAN | SLQD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.65% | 0.46% | +0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 2.05% | 1.09% | +0.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.36% | 1.49% | +0.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.80% | 2.44% | +1.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.80% | 3.14% | +0.66% |
AJAN vs. SLQD - Expense Ratio Comparison
AJAN has a 0.79% expense ratio, which is higher than SLQD's 0.06% expense ratio.
Dividends
AJAN vs. SLQD - Dividend Comparison
AJAN has not paid dividends to shareholders, while SLQD's dividend yield for the trailing twelve months is around 4.32%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AJAN Innovator Equity Defined Protection ETF - 2 Yr To January 2026 | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SLQD iShares 0-5 Year Investment Grade Corporate Bond ETF | 4.32% | 4.15% | 3.71% | 2.99% | 2.00% | 1.67% | 2.34% | 2.89% | 2.55% | 1.98% | 1.81% | 1.43% |
Frequently Asked Questions
AJAN and SLQD have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AJAN has higher volatility (0.65%) compared to SLQD (0.46%). In terms of maximum drawdown, AJAN dropped -4.11% vs SLQD's -12.69%.
On 1-year performance, AJAN leads with 6.13% vs 4.39% for SLQD. On fees, SLQD is cheaper at 0.06% per year. On volatility, SLQD has been the lower-risk option at 0.46%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, AJAN has performed better with a 6.13% return vs 4.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SLQD is cheaper with a 0.06% expense ratio, compared with 0.79% for AJAN.
SLQD has the higher dividend yield at 4.32%, compared with 0.00% for AJAN.
AJAN is categorized as Options Trading, while SLQD is Corporate Bonds. They also come from different issuers: Innovator and iShares. Their fees differ too: 0.79% for AJAN and 0.06% for SLQD.
SLQD currently has the higher Sharpe Ratio (2.98 vs 2.61), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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