AJAN vs. SMYY

Last updated Jun 5, 2026

AJAN (Innovator Equity Defined Protection ETF - 2 Yr To January 2026) and SMYY (GraniteShares YieldBOOST SMCI ETF) are both Options Trading funds. At a 0.37 correlation, their price movements are largely independent. AJAN charges 0.79%/yr vs 1.07%/yr for SMYY.

Performance

AJAN vs. SMYY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Equity Defined Protection ETF - 2 Yr To January 2026 (AJAN) and GraniteShares YieldBOOST SMCI ETF (SMYY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AJAN achieves a 2.03% return, which is significantly lower than SMYY's 6.96% return.

AJAN

• 1D: 0.09%
• 1M: 0.58%
• YTD: 2.03%
• 6M: 2.43%
• 1Y: 6.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SMYY

• 1D: 0.24%
• 1M: 3.62%
• YTD: 6.96%
• 6M: -10.16%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AJAN vs. SMYY - Yearly Performance Comparison

	2026 (YTD)	2025
AJAN Innovator Equity Defined Protection ETF - 2 Yr To January 2026	2.03%	1.26%
SMYY GraniteShares YieldBOOST SMCI ETF	6.96%	-27.52%

Correlation

The correlation between AJAN and SMYY is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 1, 2025	0.37

Return for Risk

AJAN vs. SMYY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AJAN

AJAN Risk / Return Rank: 78
AJAN Sharpe Ratio Rank: 81
AJAN Sortino Ratio Rank: 89
AJAN Omega Ratio Rank: 91
AJAN Calmar Ratio Rank: 57
AJAN Martin Ratio Rank: 74

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AJAN vs. SMYY - 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 GraniteShares YieldBOOST SMCI ETF (SMYY). 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	SMYY	Difference
Sharpe ratio: Return per unit of total volatility	2.61	—	—
Sortino ratio: Return per unit of downside risk	4.08	—	—
Omega ratio: Gain probability vs. loss probability	1.58	—	—
Calmar ratio: Return relative to maximum drawdown	2.74	—	—
Martin ratio: Return relative to average drawdown	13.81	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	AJAN	SMYY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.61	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.74	-0.97	+2.71

Drawdowns

AJAN vs. SMYY - Drawdown Comparison

The maximum AJAN drawdown since its inception was -4.11%, smaller than the maximum SMYY drawdown of -36.84%. Use the drawdown chart below to compare losses from any high point for AJAN and SMYY.

Drawdown Indicators

	AJAN	SMYY	Difference
Max Drawdown Largest peak-to-trough decline	-4.11%	-36.84%	+32.73%
Max Drawdown (1Y) Largest decline over 1 year	-2.24%	—	—
Current Drawdown Current decline from peak	-0.09%	-28.57%	+28.48%
Average Drawdown Average peak-to-trough decline	-0.29%	-25.17%	+24.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.44%	—	—

Volatility

Volatility by Period

	AJAN	SMYY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.65%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.05%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.36%	32.59%	-30.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.80%	32.59%	-28.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.80%	32.59%	-28.79%

AJAN vs. SMYY - Expense Ratio Comparison

AJAN has a 0.79% expense ratio, which is lower than SMYY's 1.07% expense ratio.

Dividends

AJAN vs. SMYY - Dividend Comparison

AJAN has not paid dividends to shareholders, while SMYY's dividend yield for the trailing twelve months is around 146.54%.

Position	TTM	2025
AJAN Innovator Equity Defined Protection ETF - 2 Yr To January 2026	0.00%	0.00%
SMYY GraniteShares YieldBOOST SMCI ETF	146.54%	53.33%

Frequently Asked Questions

Can I hold both AJAN and SMYY in my portfolio?

AJAN and SMYY have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AJAN or SMYY?

On fees, AJAN is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AJAN or SMYY?

AJAN is cheaper with a 0.79% expense ratio, compared with 1.07% for SMYY.

Which ETF pays a higher dividend yield, AJAN or SMYY?

SMYY has the higher dividend yield at 146.54%, compared with 0.00% for AJAN.

What is the main difference between AJAN and SMYY?

They also come from different issuers: Innovator and GraniteShares. Their fees differ too: 0.79% for AJAN and 1.07% for SMYY.