BALT vs. SPY
Compare and contrast key facts about Innovator Defined Wealth Shield ETF (BALT) and SPDR S&P 500 ETF (SPY).
BALT and SPY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BALT is an actively managed fund by Innovator. It was launched on Jul 1, 2021. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BALT or SPY.
Key characteristics
| BALT | SPY | |
|---|---|---|
| YTD Return | 8.16% | 21.01% |
| 1Y Return | 10.40% | 32.86% |
| 3Y Return (Ann) | 6.13% | 8.37% |
| Sharpe Ratio | 3.48 | 2.83 |
| Sortino Ratio | 5.35 | 3.76 |
| Omega Ratio | 1.80 | 1.53 |
| Calmar Ratio | 5.65 | 4.05 |
| Martin Ratio | 30.60 | 18.38 |
| Ulcer Index | 0.34% | 1.85% |
| Daily Std Dev | 3.01% | 12.02% |
| Max Drawdown | -2.16% | -55.19% |
| Current Drawdown | -0.39% | -2.53% |
Correlation
The correlation between BALT and SPY is 0.77, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
BALT vs. SPY - Performance Comparison
In the year-to-date period, BALT achieves a 8.16% return, which is significantly lower than SPY's 21.01% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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BALT vs. SPY - Expense Ratio Comparison
BALT has a 0.69% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
BALT vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Defined Wealth Shield ETF (BALT) and SPDR S&P 500 ETF (SPY). 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.
Dividends
BALT vs. SPY - Dividend Comparison
BALT has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.23%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SPY SPDR S&P 500 ETF | 1.23% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
BALT vs. SPY - Drawdown Comparison
The maximum BALT drawdown since its inception was -2.16%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for BALT and SPY. For additional features, visit the drawdowns tool.
Volatility
BALT vs. SPY - Volatility Comparison
The current volatility for Innovator Defined Wealth Shield ETF (BALT) is 0.68%, while SPDR S&P 500 ETF (SPY) has a volatility of 3.15%. This indicates that BALT experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.