AJUL vs. NVII

Last updated Jul 15, 2026

AJUL (Innovator Equity Defined Protection ETF - 2 Yr To July 2026) and NVII (REX NVIDIA Growth & Income ETF) are both exchange-traded funds - AJUL is a Options Trading fund actively managed by Innovator, while NVII is a Derivative Income fund actively managed by REX. Both are actively managed. Over the past year, AJUL returned 7.61% vs 32.35% for NVII. At a 0.48 correlation, their price movements are largely independent. AJUL charges 0.79%/yr vs 0.99%/yr for NVII.

Performance

AJUL vs. NVII - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Equity Defined Protection ETF - 2 Yr To July 2026 (AJUL) and REX NVIDIA Growth & Income ETF (NVII). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AJUL achieves a 3.58% return, which is significantly lower than NVII's 15.40% return.

AJUL

• 1D: 0.27%
• 1M: 0.48%
• 6M: 3.19%
• YTD: 3.58%
• 1Y: 7.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVII

• 1D: 0.20%
• 1M: 1.09%
• 6M: 16.94%
• YTD: 15.40%
• 1Y: 32.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AJUL vs. NVII - Yearly Performance Comparison

	2026 (YTD)	2025
AJUL Innovator Equity Defined Protection ETF - 2 Yr To July 2026	3.58%	6.17%
NVII REX NVIDIA Growth & Income ETF	15.40%	47.63%

Correlation

The correlation between AJUL and NVII is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (All Time) Calculated using the full available price history since May 28, 2025	0.48

Return for Risk

AJUL vs. NVII — Risk / Return Rank

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

AJUL

AJUL Risk / Return Rank: 91
AJUL Sharpe Ratio Rank: 91
AJUL Sortino Ratio Rank: 94
AJUL Omega Ratio Rank: 94
AJUL Calmar Ratio Rank: 82
AJUL Martin Ratio Rank: 94

NVII

NVII Risk / Return Rank: 33
NVII Sharpe Ratio Rank: 30
NVII Sortino Ratio Rank: 30
NVII Omega Ratio Rank: 29
NVII Calmar Ratio Rank: 42
NVII Martin Ratio Rank: 32

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.

AJUL vs. NVII - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Defined Protection ETF - 2 Yr To July 2026 (AJUL) and REX NVIDIA Growth & Income ETF (NVII). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AJUL	NVII	Difference
Sharpe ratio: Return per unit of total volatility	2.45	0.90	+1.56
Sortino ratio: Return per unit of downside risk	3.90	1.37	+2.53
Omega ratio: Gain probability vs. loss probability	1.55	1.17	+0.38
Calmar ratio: Return relative to maximum drawdown	3.49	1.75	+1.74
Martin ratio: Return relative to average drawdown	20.65	3.82	+16.83

AJUL vs. NVII - Sharpe Ratio Comparison

The current AJUL Sharpe Ratio is 2.45, which is higher than the NVII Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of AJUL and NVII, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AJUL vs. NVII - Drawdown Comparison

The maximum AJUL drawdown since its inception was -6.06%, smaller than the maximum NVII drawdown of -18.56%. Use the drawdown chart below to compare losses from any high point for AJUL and NVII.

Drawdown Indicators

	AJUL	NVII	Difference
Max Drawdown Largest peak-to-trough decline	-6.06%	-18.56%	+12.50%
Max Drawdown (1Y) Largest decline over 1 year	-2.19%	-18.56%	+16.37%
Current Drawdown Current decline from peak	-0.03%	-8.62%	+8.59%
Average Drawdown Average peak-to-trough decline	-0.48%	-6.22%	+5.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.37%	8.49%	-8.12%

Volatility

AJUL vs. NVII - Volatility Comparison

The current volatility for Innovator Equity Defined Protection ETF - 2 Yr To July 2026 (AJUL) is 0.65%, while REX NVIDIA Growth & Income ETF (NVII) has a volatility of 10.97%. This indicates that AJUL experiences smaller price fluctuations and is considered to be less risky than NVII based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AJUL	NVII	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.65%	10.97%	-10.32%
Volatility (6M) Calculated over the trailing 6-month period	2.51%	27.86%	-25.35%
Volatility (1Y) Calculated over the trailing 1-year period	3.12%	36.38%	-33.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.89%	35.53%	-30.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.89%	35.53%	-30.64%

AJUL vs. NVII - Expense Ratio Comparison

AJUL has a 0.79% expense ratio, which is lower than NVII's 0.99% expense ratio.

Dividends

AJUL vs. NVII - Dividend Comparison

AJUL has not paid dividends to shareholders, while NVII's dividend yield for the trailing twelve months is around 54.67%.

Position	TTM	2025
AJUL Innovator Equity Defined Protection ETF - 2 Yr To July 2026	0.00%	0.00%
NVII REX NVIDIA Growth & Income ETF	54.67%	29.17%

Frequently Asked Questions

Can I hold both AJUL and NVII in my portfolio?

AJUL and NVII have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AJUL or NVII?

NVII has higher volatility (10.97%) compared to AJUL (0.65%). In terms of maximum drawdown, AJUL dropped -6.06% vs NVII's -18.56%.

Which ETF is better, AJUL or NVII?

On 1-year performance, NVII leads with 32.35% vs 7.61% for AJUL. On fees, AJUL is cheaper at 0.79% per year. On volatility, AJUL has been the lower-risk option at 0.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AJUL or NVII?

Over the 1-year period, NVII has performed better with a 32.35% return vs 7.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AJUL or NVII?

AJUL is cheaper with a 0.79% expense ratio, compared with 0.99% for NVII.

Which ETF pays a higher dividend yield, AJUL or NVII?

NVII has the higher dividend yield at 54.67%, compared with 0.00% for AJUL.

What is the main difference between AJUL and NVII?

AJUL is categorized as Options Trading, while NVII is Derivative Income. They also come from different issuers: Innovator and REX. Their fees differ too: 0.79% for AJUL and 0.99% for NVII.

Which has better risk-adjusted returns?

AJUL currently has the higher Sharpe Ratio (2.45 vs 0.90), 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.