APRJ vs. CTIF

Last updated Aug 4, 2026

APRJ (Innovator Premium Income 30 Barrier ETF - April) and CTIF (Castellan Targeted Income ETF) are both exchange-traded funds - APRJ is a Options Trading fund actively managed by Innovator, while CTIF is a Derivative Income fund actively managed by Castellan. Both are actively managed. Over the past year, APRJ returned 6.57% vs 14.52% for CTIF. Their 0.32 correlation means their historical movements had little consistent relationship. APRJ charges 0.79%/yr vs 0.45%/yr for CTIF.

Performance

APRJ vs. CTIF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Premium Income 30 Barrier ETF - April (APRJ) and Castellan Targeted Income ETF (CTIF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APRJ achieves a 4.00% return, which is significantly lower than CTIF's 10.45% return.

APRJ

• 1D: 0.08%
• 1M: 0.48%
• 6M: 3.83%
• YTD: 4.00%
• 1Y: 6.57%
• 3Y*: 6.22%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.45%

CTIF

• 1D: 1.03%
• 1M: 5.15%
• 6M: 7.21%
• YTD: 10.45%
• 1Y: 14.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.22%

*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)
APRJ Innovator Premium Income 30 Barrier ETF - April	$53.14K	$60.00K	$147.43K
CTIF Castellan Targeted Income ETF	$144.86K	$160.90K	$259.16K

APRJ vs. CTIF - Yearly Performance Comparison

	2026 (YTD)	2025
APRJ Innovator Premium Income 30 Barrier ETF - April	4.00%	3.06%
CTIF Castellan Targeted Income ETF	10.45%	3.87%

Correlation

The correlation between APRJ and CTIF is 0.33, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.33
Correlation (All Time) Calculated using the full available price history since Jun 25, 2025	0.32

Return for Risk

APRJ vs. CTIF — Risk / Return Rank

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

APRJ

APRJ Risk / Return Rank: 98
APRJ Sharpe Ratio Rank: 98
APRJ Sortino Ratio Rank: 98
APRJ Omega Ratio Rank: 98
APRJ Calmar Ratio Rank: 99
APRJ Martin Ratio Rank: 99

CTIF

CTIF Risk / Return Rank: 42
CTIF Sharpe Ratio Rank: 42
CTIF Sortino Ratio Rank: 42
CTIF Omega Ratio Rank: 39
CTIF Calmar Ratio Rank: 40
CTIF Martin Ratio Rank: 46

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.

APRJ vs. CTIF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Premium Income 30 Barrier ETF - April (APRJ) and Castellan Targeted Income ETF (CTIF). 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.

	APRJ	CTIF	Difference
Sharpe ratio: Return per unit of total volatility	4.22	1.15	+3.07
Sortino ratio: Return per unit of downside risk	7.69	1.69	+6.01
Omega ratio: Gain probability vs. loss probability	2.06	1.20	+0.86
Calmar ratio: Return relative to maximum drawdown	16.57	1.55	+15.02
Martin ratio: Return relative to average drawdown	78.40	5.63	+72.77

APRJ vs. CTIF - Sharpe Ratio Comparison

The current APRJ Sharpe Ratio is 4.22, which is higher than the CTIF Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of APRJ and CTIF, 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

APRJ vs. CTIF - Drawdown Comparison

The maximum APRJ drawdown since its inception was -4.68%, smaller than the maximum CTIF drawdown of -9.43%. Use the drawdown chart below to compare losses from any high point for APRJ and CTIF.

Drawdown Indicators

	APRJ	CTIF	Difference
Max Drawdown Largest peak-to-trough decline	-4.68%	-9.43%	+4.75%
Max Drawdown (1Y) Largest decline over 1 year	-0.40%	-9.43%	+9.03%
Max Drawdown (3Y) Largest decline over 3 years	-4.68%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.12%	-1.75%	+1.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.08%	2.59%	-2.51%

Volatility

APRJ vs. CTIF - Volatility Comparison

The current volatility for Innovator Premium Income 30 Barrier ETF - April (APRJ) is 0.41%, while Castellan Targeted Income ETF (CTIF) has a volatility of 3.91%. This indicates that APRJ experiences smaller price fluctuations and is considered to be less risky than CTIF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APRJ	CTIF	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.41%	3.91%	-3.50%
Volatility (6M) Calculated over the trailing 6-month period	1.29%	9.80%	-8.51%
Volatility (1Y) Calculated over the trailing 1-year period	1.57%	12.71%	-11.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.56%	12.63%	-9.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.56%	12.63%	-9.07%

APRJ vs. CTIF - Expense Ratio Comparison

APRJ has a 0.79% expense ratio, which is higher than CTIF's 0.45% expense ratio.

Dividends

APRJ vs. CTIF - Dividend Comparison

APRJ's dividend yield for the trailing twelve months is around 5.72%, more than CTIF's 4.70% yield.

Position	TTM	2025	2024	2023
APRJ Innovator Premium Income 30 Barrier ETF - April	5.72%	5.46%	5.88%	4.88%
CTIF Castellan Targeted Income ETF	4.70%	2.55%	0.00%	0.00%

Frequently Asked Questions

Can I hold both APRJ and CTIF in my portfolio?

APRJ and CTIF have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, APRJ or CTIF?

CTIF has higher volatility (3.91%) compared to APRJ (0.41%). In terms of maximum drawdown, APRJ dropped -4.68% vs CTIF's -9.43%.

Which ETF is better, APRJ or CTIF?

On 1-year performance, CTIF leads with 14.52% vs 6.57% for APRJ. On fees, CTIF is cheaper at 0.45% per year. On volatility, APRJ has been the lower-risk option at 0.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, APRJ or CTIF?

Over the 1-year period, CTIF has performed better with a 14.52% return vs 6.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, APRJ or CTIF?

CTIF is cheaper with a 0.45% expense ratio, compared with 0.79% for APRJ.

Which ETF pays a higher dividend yield, APRJ or CTIF?

APRJ has the higher dividend yield at 5.72%, compared with 4.70% for CTIF.

What is the main difference between APRJ and CTIF?

APRJ is categorized as Options Trading, while CTIF is Derivative Income. They also come from different issuers: Innovator and Castellan. Their fees differ too: 0.79% for APRJ and 0.45% for CTIF.

Which has better risk-adjusted returns?

APRJ currently has the higher Sharpe Ratio (4.22 vs 1.15), 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.