BALT vs. AIOO

Last updated Apr 2, 2026

Compare and contrast key facts about Innovator Defined Wealth Shield ETF (BALT) and AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO).

BALT and AIOO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BALT is a passively managed fund by Innovator that tracks the performance of the S&P 500. It was launched on Jun 30, 2021. AIOO is an actively managed fund by Allianz. It was launched on Jun 30, 2025.

Performance

BALT vs. AIOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Defined Wealth Shield ETF (BALT) and AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO). The values are adjusted to include any dividend payments, if applicable.

BALT vs. AIOO - Yearly Performance Comparison

	2026 (YTD)	2025
BALT Innovator Defined Wealth Shield ETF	-0.00%	4.36%
AIOO AllianzIM U.S. Equity Buffer100 Protection ETF	-0.07%	2.67%

Returns By Period

BALT

• 1D: 0.13%
• 1M: -0.77%
• YTD: -0.00%
• 6M: 2.06%
• 1Y: 6.74%
• 3Y*: 7.16%
• 5Y*: —
• 10Y*: —

AIOO

• 1D: -0.08%
• 1M: -0.35%
• YTD: -0.07%
• 6M: 0.53%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BALT vs. AIOO - Expense Ratio Comparison

BALT has a 0.69% expense ratio, which is higher than AIOO's 0.64% expense ratio.

BALT

Innovator Defined Wealth Shield ETF

AIOO

AllianzIM U.S. Equity Buffer100 Protection ETF

Return for Risk

BALT vs. AIOO — Risk / Return Rank

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

BALT

BALT Risk / Return Rank: 84
BALT Sharpe Ratio Rank: 79
BALT Sortino Ratio Rank: 85
BALT Omega Ratio Rank: 93
BALT Calmar Ratio Rank: 73
BALT Martin Ratio Rank: 91

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.

BALT vs. AIOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Defined Wealth Shield ETF (BALT) and AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO). 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.

	BALT	AIOO	Difference
Sharpe ratio Return per unit of total volatility	1.51	—	—
Sortino ratio Return per unit of downside risk	2.32	—	—
Omega ratio Gain probability vs. loss probability	1.43	—	—
Calmar ratio Return relative to maximum drawdown	1.95	—	—
Martin ratio Return relative to average drawdown	12.95	—	—
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

	BALT	AIOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.51	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.71	1.76	-0.05

Correlation

The correlation between BALT and AIOO is 0.69, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

BALT vs. AIOO - Dividend Comparison

Neither BALT nor AIOO has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

BALT vs. AIOO - Drawdown Comparison

The maximum BALT drawdown since its inception was -4.89%, which is greater than AIOO's maximum drawdown of -0.74%. Use the drawdown chart below to compare losses from any high point for BALT and AIOO.

Drawdown Indicators

	BALT	AIOO	Difference
Max Drawdown Largest peak-to-trough decline	-4.89%	-0.74%	-4.15%
Max Drawdown (1Y) Largest decline over 1 year	-3.48%	—	—
Current Drawdown Current decline from peak	-0.92%	-0.52%	-0.40%
Average Drawdown Average peak-to-trough decline	-0.35%	-0.19%	-0.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.52%	—	—

Volatility

Volatility by Period

	BALT	AIOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.62%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.84%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.48%	1.98%	+2.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.36%	1.98%	+1.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.36%	1.98%	+1.38%