AJUL vs. XLRI

Last updated Aug 5, 2026

AJUL (Innovator Equity Defined Protection ETF - 2 Yr To July 2026) and XLRI (State Street Real Estate Select Sector SPDR Premium Income ETF) are both exchange-traded funds - AJUL is a Options Trading fund actively managed by Innovator, while XLRI is a Derivative Income fund actively managed by State Street. Both are actively managed. Over the past year, AJUL returned 7.79% vs 9.61% for XLRI. Their 0.23 correlation means their historical movements had little consistent relationship. AJUL charges 0.79%/yr vs 0.35%/yr for XLRI.

Performance

AJUL vs. XLRI - 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 State Street Real Estate Select Sector SPDR Premium Income ETF (XLRI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AJUL achieves a 4.37% return, which is significantly lower than XLRI's 8.24% return.

AJUL

• 1D: 0.46%
• 1M: 1.05%
• 6M: 3.88%
• YTD: 4.37%
• 1Y: 7.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.02%

XLRI

• 1D: 0.30%
• 1M: 1.15%
• 6M: 6.94%
• YTD: 8.24%
• 1Y: 9.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.52%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AJUL Innovator Equity Defined Protection ETF - 2 Yr To July 2026	$2.73M	$1.59M	$738.84K
XLRI State Street Real Estate Select Sector SPDR Premium Income ETF	$73.67K	$70.90K	$65.83K

AJUL vs. XLRI - Yearly Performance Comparison

	2026 (YTD)	2025
AJUL Innovator Equity Defined Protection ETF - 2 Yr To July 2026	4.37%	3.19%
XLRI State Street Real Estate Select Sector SPDR Premium Income ETF	8.24%	-0.57%

Correlation

The correlation between AJUL and XLRI is 0.21, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.21
Correlation (All Time) Calculated using the full available price history since Jul 30, 2025	0.23

Return for Risk

AJUL vs. XLRI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AJUL

AJUL Risk / Return Rank: 91
AJUL Sharpe Ratio Rank: 90
AJUL Sortino Ratio Rank: 93
AJUL Omega Ratio Rank: 94
AJUL Calmar Ratio Rank: 85
AJUL Martin Ratio Rank: 94

XLRI

XLRI Risk / Return Rank: 33
XLRI Sharpe Ratio Rank: 32
XLRI Sortino Ratio Rank: 29
XLRI Omega Ratio Rank: 30
XLRI Calmar Ratio Rank: 35
XLRI Martin Ratio Rank: 40

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AJUL vs. XLRI - 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 State Street Real Estate Select Sector SPDR Premium Income ETF (XLRI). 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	XLRI	Difference
Sharpe ratio: Return per unit of total volatility	2.42	0.88	+1.54
Sortino ratio: Return per unit of downside risk	3.82	1.24	+2.59
Omega ratio: Gain probability vs. loss probability	1.54	1.16	+0.38
Calmar ratio: Return relative to maximum drawdown	3.57	1.36	+2.22
Martin ratio: Return relative to average drawdown	20.34	4.74	+15.60

AJUL vs. XLRI - Sharpe Ratio Comparison

The current AJUL Sharpe Ratio is 2.42, which is higher than the XLRI Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of AJUL and XLRI, 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. XLRI - Drawdown Comparison

The maximum AJUL drawdown since its inception was -6.06%, smaller than the maximum XLRI drawdown of -7.12%. Use the drawdown chart below to compare losses from any high point for AJUL and XLRI.

Drawdown Indicators

	AJUL	XLRI	Difference
Max Drawdown Largest peak-to-trough decline	-6.06%	-7.12%	+1.06%
Max Drawdown (1Y) Largest decline over 1 year	-2.19%	-7.12%	+4.93%
Current Drawdown Current decline from peak	0.00%	-0.81%	+0.81%
Average Drawdown Average peak-to-trough decline	-0.48%	-1.54%	+1.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.38%	2.03%	-1.65%

Volatility

AJUL vs. XLRI - Volatility Comparison

The current volatility for Innovator Equity Defined Protection ETF - 2 Yr To July 2026 (AJUL) is 1.21%, while State Street Real Estate Select Sector SPDR Premium Income ETF (XLRI) has a volatility of 3.22%. This indicates that AJUL experiences smaller price fluctuations and is considered to be less risky than XLRI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AJUL	XLRI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.21%	3.22%	-2.01%
Volatility (6M) Calculated over the trailing 6-month period	2.65%	8.71%	-6.06%
Volatility (1Y) Calculated over the trailing 1-year period	3.25%	11.00%	-7.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.87%	11.08%	-6.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.87%	11.08%	-6.21%

AJUL vs. XLRI - Expense Ratio Comparison

AJUL has a 0.79% expense ratio, which is higher than XLRI's 0.35% expense ratio.

Dividends

AJUL vs. XLRI - Dividend Comparison

AJUL has not paid dividends to shareholders, while XLRI's dividend yield for the trailing twelve months is around 14.33%.

Position	TTM	2025
AJUL Innovator Equity Defined Protection ETF - 2 Yr To July 2026	0.00%	0.00%
XLRI State Street Real Estate Select Sector SPDR Premium Income ETF	14.33%	6.85%

Frequently Asked Questions

Can I hold both AJUL and XLRI in my portfolio?

AJUL and XLRI have a correlation of 0.21, 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 XLRI?

XLRI has higher volatility (3.22%) compared to AJUL (1.21%). In terms of maximum drawdown, AJUL dropped -6.06% vs XLRI's -7.12%.

Which ETF is better, AJUL or XLRI?

On 1-year performance, XLRI leads with 9.61% vs 7.79% for AJUL. On fees, XLRI is cheaper at 0.35% per year. On volatility, AJUL has been the lower-risk option at 1.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AJUL or XLRI?

Over the 1-year period, XLRI has performed better with a 9.61% return vs 7.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AJUL or XLRI?

XLRI is cheaper with a 0.35% expense ratio, compared with 0.79% for AJUL.

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

XLRI has the higher dividend yield at 14.33%, compared with 0.00% for AJUL.

What is the main difference between AJUL and XLRI?

AJUL is categorized as Options Trading, while XLRI is Derivative Income. They also come from different issuers: Innovator and State Street. Their fees differ too: 0.79% for AJUL and 0.35% for XLRI.

Which has better risk-adjusted returns?

AJUL currently has the higher Sharpe Ratio (2.42 vs 0.88), 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.