APRJ vs. IBGB
APRJ (Innovator Premium Income 30 Barrier ETF - April) and IBGB (iShares iBonds Dec 2045 Term Treasury ETF) are both exchange-traded funds - APRJ is a Options Trading fund actively managed by Innovator, while IBGB is a Government Bonds fund tracking the ICE 2045 Maturity US Treasury Index. APRJ is actively managed, while IBGB is passively managed. Over the past year, APRJ returned 6.57% vs -0.84% for IBGB. Their 0.07 correlation means their historical movements had little consistent relationship. APRJ charges 0.79%/yr vs 0.07%/yr for IBGB.
Performance
APRJ vs. IBGB - Performance Comparison
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Returns By Period
In the year-to-date period, APRJ achieves a 4.00% return, which is significantly higher than IBGB's -2.61% 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%
IBGB
- 1D
- 0.46%
- 1M
- -2.86%
- 6M
- -2.38%
- YTD
- -2.61%
- 1Y
- -0.84%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -0.04%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $53.14K | $60.00K | $147.43K | |
| $29.51K | $33.25K | $83.25K |
APRJ vs. IBGB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
APRJ Innovator Premium Income 30 Barrier ETF - April | 4.00% | 4.57% |
IBGB iShares iBonds Dec 2045 Term Treasury ETF | -2.61% | 2.62% |
Correlation
The correlation between APRJ and IBGB is 0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.04 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2025 | 0.07 |
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Return for Risk
APRJ vs. IBGB — Risk / Return Rank
APRJ
IBGB
APRJ vs. IBGB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Premium Income 30 Barrier ETF - April (APRJ) and iShares iBonds Dec 2045 Term Treasury ETF (IBGB). 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 | IBGB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.33 | ||
| Sortino ratioReturn per unit of downside risk | +7.79 | ||
| Omega ratioGain probability vs. loss probability | 2.06 | 0.99 | +1.07 |
| Calmar ratioReturn relative to maximum drawdown | 16.57 | -0.12 | +16.69 |
| Martin ratioReturn relative to average drawdown | 78.40 | -0.28 | +78.68 |
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Drawdowns
APRJ vs. IBGB - Drawdown Comparison
The maximum APRJ drawdown since its inception was -4.68%, smaller than the maximum IBGB drawdown of -8.09%. Use the drawdown chart below to compare losses from any high point for APRJ and IBGB.
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Drawdown Indicators
| APRJ | IBGB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.68% | -8.09% | +3.41% |
Max Drawdown (1Y)Largest decline over 1 year | -0.40% | -6.79% | +6.39% |
Max Drawdown (3Y)Largest decline over 3 years | -4.68% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -6.31% | +6.31% |
Average DrawdownAverage peak-to-trough decline | -0.12% | -3.31% | +3.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.08% | 3.05% | -2.97% |
Volatility
APRJ vs. IBGB - Volatility Comparison
The current volatility for Innovator Premium Income 30 Barrier ETF - April (APRJ) is 0.41%, while iShares iBonds Dec 2045 Term Treasury ETF (IBGB) has a volatility of 2.18%. This indicates that APRJ experiences smaller price fluctuations and is considered to be less risky than IBGB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| APRJ | IBGB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.41% | 2.18% | -1.77% |
Volatility (6M)Calculated over the trailing 6-month period | 1.29% | 6.16% | -4.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.57% | 8.00% | -6.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.56% | 9.36% | -5.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.56% | 9.36% | -5.80% |
APRJ vs. IBGB - Expense Ratio Comparison
APRJ has a 0.79% expense ratio, which is higher than IBGB's 0.07% expense ratio.
Dividends
APRJ vs. IBGB - Dividend Comparison
APRJ's dividend yield for the trailing twelve months is around 5.72%, more than IBGB's 4.78% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
APRJ Innovator Premium Income 30 Barrier ETF - April | 5.72% | 5.46% | 5.88% | 4.88% |
IBGB iShares iBonds Dec 2045 Term Treasury ETF | 4.78% | 3.53% | 0.00% | 0.00% |
Frequently Asked Questions
APRJ and IBGB have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBGB has higher volatility (2.18%) compared to APRJ (0.41%). In terms of maximum drawdown, APRJ dropped -4.68% vs IBGB's -8.09%.
On 1-year performance, APRJ leads with 6.57% vs -0.84% for IBGB. On fees, IBGB is cheaper at 0.07% 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.
Over the 1-year period, APRJ has performed better with a 6.57% return vs -0.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBGB is cheaper with a 0.07% expense ratio, compared with 0.79% for APRJ.
APRJ has the higher dividend yield at 5.72%, compared with 4.78% for IBGB.
APRJ is categorized as Options Trading, while IBGB is Government Bonds. They also come from different issuers: Innovator and iShares. Their fees differ too: 0.79% for APRJ and 0.07% for IBGB.
APRJ currently has the higher Sharpe Ratio (4.22 vs -0.11), 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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