BALT vs. RBIL

Last updated Jun 24, 2026

BALT (Innovator Defined Wealth Shield ETF) and RBIL (F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF) are both exchange-traded funds - BALT is a Defined Outcome fund tracking the S&P 500, while RBIL is a Inflation-Protected Bonds fund tracking the Bloomberg US Ultrashort TIPS 1-13 Months Index. Both are passively managed. Over the past year, BALT returned 6.86% vs 4.07% for RBIL. At a correlation of -0.11, they often move in opposite directions. BALT charges 0.69%/yr vs 0.17%/yr for RBIL.

Performance

BALT vs. RBIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Defined Wealth Shield ETF (BALT) and F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF (RBIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with BALT having a 2.21% return and RBIL slightly higher at 2.32%.

BALT

• 1D: 0.00%
• 1M: 0.47%
• YTD: 2.21%
• 6M: 2.42%
• 1Y: 6.86%
• 3Y*: 7.11%
• 5Y*: —
• 10Y*: —

RBIL

• 1D: 0.01%
• 1M: -0.19%
• YTD: 2.32%
• 6M: 2.37%
• 1Y: 4.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BALT vs. RBIL - Yearly Performance Comparison

	2026 (YTD)	2025
BALT Innovator Defined Wealth Shield ETF	2.21%	5.51%
RBIL F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF	2.32%	2.85%

Correlation

The correlation between BALT and RBIL is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.11
Correlation (All Time) Calculated using the full available price history since Feb 25, 2025	-0.11

Return for Risk

BALT vs. RBIL — Risk / Return Rank

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

BALT

BALT Risk / Return Rank: 94
BALT Sharpe Ratio Rank: 93
BALT Sortino Ratio Rank: 95
BALT Omega Ratio Rank: 95
BALT Calmar Ratio Rank: 92
BALT Martin Ratio Rank: 93

RBIL

RBIL Risk / Return Rank: 97
RBIL Sharpe Ratio Rank: 97
RBIL Sortino Ratio Rank: 98
RBIL Omega Ratio Rank: 98
RBIL Calmar Ratio Rank: 96
RBIL Martin Ratio Rank: 97

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. RBIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Defined Wealth Shield ETF (BALT) and F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF (RBIL). 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.

	BALT	RBIL	Difference
Sharpe ratio: Return per unit of total volatility	3.19	4.35	-1.16
Sortino ratio: Return per unit of downside risk	4.88	6.69	-1.81
Omega ratio: Gain probability vs. loss probability	1.69	2.13	-0.44
Calmar ratio: Return relative to maximum drawdown	5.98	7.82	-1.85
Martin ratio: Return relative to average drawdown	22.31	42.95	-20.65

BALT vs. RBIL - Sharpe Ratio Comparison

The current BALT Sharpe Ratio is 3.19, which is comparable to the RBIL Sharpe Ratio of 4.35. The chart below compares the historical Sharpe Ratios of BALT and RBIL, 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

BALT vs. RBIL - Drawdown Comparison

The maximum BALT drawdown since its inception was -4.89%, which is greater than RBIL's maximum drawdown of -0.52%. Use the drawdown chart below to compare losses from any high point for BALT and RBIL.

Drawdown Indicators

	BALT	RBIL	Difference
Max Drawdown Largest peak-to-trough decline	-4.89%	-0.52%	-4.37%
Max Drawdown (1Y) Largest decline over 1 year	-1.15%	-0.52%	-0.63%
Max Drawdown (3Y) Largest decline over 3 years	-4.89%	—	—
Current Drawdown Current decline from peak	0.00%	-0.50%	+0.50%
Average Drawdown Average peak-to-trough decline	-0.34%	-0.07%	-0.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.31%	0.10%	+0.21%

Volatility

BALT vs. RBIL - Volatility Comparison

The current volatility for Innovator Defined Wealth Shield ETF (BALT) is 0.29%, while F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF (RBIL) has a volatility of 0.36%. This indicates that BALT experiences smaller price fluctuations and is considered to be less risky than RBIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BALT	RBIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.29%	0.36%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	1.45%	0.85%	+0.60%
Volatility (1Y) Calculated over the trailing 1-year period	2.16%	0.95%	+1.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.30%	1.07%	+2.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.30%	1.07%	+2.23%

BALT vs. RBIL - Expense Ratio Comparison

BALT has a 0.69% expense ratio, which is higher than RBIL's 0.17% expense ratio.

Dividends

BALT vs. RBIL - Dividend Comparison

BALT has not paid dividends to shareholders, while RBIL's dividend yield for the trailing twelve months is around 4.38%.

Position	TTM	2025
BALT Innovator Defined Wealth Shield ETF	0.00%	0.00%
RBIL F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF	4.38%	3.65%

Frequently Asked Questions

Can I hold both BALT and RBIL in my portfolio?

BALT and RBIL have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BALT or RBIL?

RBIL has higher volatility (0.36%) compared to BALT (0.29%). In terms of maximum drawdown, BALT dropped -4.89% vs RBIL's -0.52%.

Which ETF is better, BALT or RBIL?

On 1-year performance, BALT leads with 6.86% vs 4.07% for RBIL. On fees, RBIL is cheaper at 0.17% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BALT or RBIL?

Over the 1-year period, BALT has performed better with a 6.86% return vs 4.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BALT or RBIL?

RBIL is cheaper with a 0.17% expense ratio, compared with 0.69% for BALT.

Which ETF pays a higher dividend yield, BALT or RBIL?

RBIL has the higher dividend yield at 4.38%, compared with 0.00% for BALT.

What is the main difference between BALT and RBIL?

BALT is categorized as Defined Outcome, while RBIL is Inflation-Protected Bonds. BALT tracks S&P 500, while RBIL tracks Bloomberg US Ultrashort TIPS 1-13 Months Index. They also come from different issuers: Innovator and F/m. Their fees differ too: 0.69% for BALT and 0.17% for RBIL.

Which has better risk-adjusted returns?

RBIL currently has the higher Sharpe Ratio (4.35 vs 3.19), 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.