BALT vs. HLIPX

Last updated Apr 2, 2026

Compare and contrast key facts about Innovator Defined Wealth Shield ETF (BALT) and JPMorgan Core Plus Bond Fund (HLIPX).

BALT is a passively managed fund by Innovator that tracks the performance of the S&P 500. It was launched on Jun 30, 2021. HLIPX is managed by JPMorgan. It was launched on Mar 5, 1993.

Performance

BALT vs. HLIPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Defined Wealth Shield ETF (BALT) and JPMorgan Core Plus Bond Fund (HLIPX). The values are adjusted to include any dividend payments, if applicable.

BALT vs. HLIPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BALT Innovator Defined Wealth Shield ETF	-0.00%	6.65%	9.98%	7.45%	2.54%	0.82%
HLIPX JPMorgan Core Plus Bond Fund	-0.17%	7.98%	2.64%	6.38%	-12.69%	0.18%

Returns By Period

BALT

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

HLIPX

• 1D: 0.14%
• 1M: -1.90%
• YTD: -0.17%
• 6M: 0.78%
• 1Y: 4.49%
• 3Y*: 4.39%
• 5Y*: 0.90%
• 10Y*: 2.42%

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

BALT vs. HLIPX - Expense Ratio Comparison

BALT has a 0.69% expense ratio, which is higher than HLIPX's 0.46% expense ratio.

BALT

Innovator Defined Wealth Shield ETF

HLIPX

JPMorgan Core Plus Bond Fund

Return for Risk

BALT vs. HLIPX — 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

HLIPX

HLIPX Risk / Return Rank: 57
HLIPX Sharpe Ratio Rank: 59
HLIPX Sortino Ratio Rank: 59
HLIPX Omega Ratio Rank: 44
HLIPX Calmar Ratio Rank: 68
HLIPX Martin Ratio Rank: 55

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. HLIPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Defined Wealth Shield ETF (BALT) and JPMorgan Core Plus Bond Fund (HLIPX). 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	HLIPX	Difference
Sharpe ratio Return per unit of total volatility	1.51	1.12	+0.39
Sortino ratio Return per unit of downside risk	2.32	1.61	+0.71
Omega ratio Gain probability vs. loss probability	1.43	1.20	+0.23
Calmar ratio Return relative to maximum drawdown	1.95	1.66	+0.29
Martin ratio Return relative to average drawdown	12.95	5.61	+7.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BALT vs. HLIPX - Sharpe Ratio Comparison

The current BALT Sharpe Ratio is 1.51, which is higher than the HLIPX Sharpe Ratio of 1.12. The chart below compares the historical Sharpe Ratios of BALT and HLIPX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BALT	HLIPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.51	1.12	+0.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.16	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.52	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.71	1.10	+0.61

Correlation

The correlation between BALT and HLIPX is 0.10, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

BALT vs. HLIPX - Dividend Comparison

BALT has not paid dividends to shareholders, while HLIPX's dividend yield for the trailing twelve months is around 4.55%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BALT Innovator Defined Wealth Shield ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HLIPX JPMorgan Core Plus Bond Fund	4.55%	4.86%	4.88%	4.02%	3.36%	3.25%	4.36%	3.23%	3.08%	2.83%	2.77%	3.25%

Drawdowns

BALT vs. HLIPX - Drawdown Comparison

The maximum BALT drawdown since its inception was -4.89%, smaller than the maximum HLIPX drawdown of -16.91%. Use the drawdown chart below to compare losses from any high point for BALT and HLIPX.

Drawdown Indicators

	BALT	HLIPX	Difference
Max Drawdown Largest peak-to-trough decline	-4.89%	-16.91%	+12.02%
Max Drawdown (1Y) Largest decline over 1 year	-3.48%	-2.97%	-0.51%
Max Drawdown (5Y) Largest decline over 5 years	—	-16.91%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-16.91%	—
Current Drawdown Current decline from peak	-0.92%	-2.29%	+1.37%
Average Drawdown Average peak-to-trough decline	-0.35%	-1.94%	+1.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.52%	0.88%	-0.36%

Volatility

BALT vs. HLIPX - Volatility Comparison

The current volatility for Innovator Defined Wealth Shield ETF (BALT) is 0.62%, while JPMorgan Core Plus Bond Fund (HLIPX) has a volatility of 1.74%. This indicates that BALT experiences smaller price fluctuations and is considered to be less risky than HLIPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BALT	HLIPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.62%	1.74%	-1.12%
Volatility (6M) Calculated over the trailing 6-month period	1.84%	2.62%	-0.78%
Volatility (1Y) Calculated over the trailing 1-year period	4.48%	4.30%	+0.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.36%	5.66%	-2.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.36%	4.62%	-1.26%