BDEC vs. UXJA

Last updated Jun 4, 2026

BDEC (Innovator U.S. Equity Buffer ETF - December) and UXJA (FT Vest U.S. Equity Uncapped Accelerator ETF - January) are both Defined Outcome funds. BDEC is passively managed, while UXJA is actively managed. Over the past year, BDEC returned 21.54% vs 29.61% for UXJA. With a 0.98 correlation, they move nearly in lockstep. BDEC charges 0.79%/yr vs 0.85%/yr for UXJA.

Performance

BDEC vs. UXJA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Buffer ETF - December (BDEC) and FT Vest U.S. Equity Uncapped Accelerator ETF - January (UXJA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BDEC achieves a 7.48% return, which is significantly lower than UXJA's 11.66% return.

BDEC

• 1D: -0.25%
• 1M: 3.22%
• YTD: 7.48%
• 6M: 7.80%
• 1Y: 21.54%
• 3Y*: 15.01%
• 5Y*: 10.16%
• 10Y*: —

UXJA

• 1D: -0.67%
• 1M: 5.79%
• YTD: 11.66%
• 6M: 11.51%
• 1Y: 29.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BDEC vs. UXJA - Yearly Performance Comparison

	2026 (YTD)	2025
BDEC Innovator U.S. Equity Buffer ETF - December	7.48%	12.78%
UXJA FT Vest U.S. Equity Uncapped Accelerator ETF - January	11.66%	13.93%

Correlation

The correlation between BDEC and UXJA is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (All Time) Calculated using the full available price history since Jan 22, 2025	0.98

The correlation between BDEC and UXJA has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.

Return for Risk

BDEC vs. UXJA — Risk / Return Rank

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

BDEC

BDEC Risk / Return Rank: 76
BDEC Sharpe Ratio Rank: 76
BDEC Sortino Ratio Rank: 77
BDEC Omega Ratio Rank: 79
BDEC Calmar Ratio Rank: 67
BDEC Martin Ratio Rank: 80

UXJA

UXJA Risk / Return Rank: 66
UXJA Sharpe Ratio Rank: 68
UXJA Sortino Ratio Rank: 65
UXJA Omega Ratio Rank: 65
UXJA Calmar Ratio Rank: 62
UXJA Martin Ratio Rank: 71

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.

BDEC vs. UXJA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Buffer ETF - December (BDEC) and FT Vest U.S. Equity Uncapped Accelerator ETF - January (UXJA). 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.

	BDEC	UXJA	Difference
Sharpe ratio Return per unit of total volatility	2.47	2.20	+0.27
Sortino ratio Return per unit of downside risk	3.48	2.98	+0.50
Omega ratio Gain probability vs. loss probability	1.47	1.38	+0.09
Calmar ratio Return relative to maximum drawdown	3.32	3.03	+0.29
Martin ratio Return relative to average drawdown	15.88	13.05	+2.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BDEC vs. UXJA - Sharpe Ratio Comparison

The current BDEC Sharpe Ratio is 2.47, which is comparable to the UXJA Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of BDEC and UXJA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BDEC	UXJA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.47	2.20	+0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	1.04	-0.23

Drawdowns

BDEC vs. UXJA - Drawdown Comparison

The maximum BDEC drawdown since its inception was -25.60%, which is greater than UXJA's maximum drawdown of -20.01%. Use the drawdown chart below to compare losses from any high point for BDEC and UXJA.

Drawdown Indicators

	BDEC	UXJA	Difference
Max Drawdown Largest peak-to-trough decline	-25.60%	-20.01%	-5.59%
Max Drawdown (1Y) Largest decline over 1 year	-6.52%	-9.83%	+3.31%
Max Drawdown (3Y) Largest decline over 3 years	-13.95%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-16.44%	—	—
Current Drawdown Current decline from peak	-0.25%	-0.67%	+0.42%
Average Drawdown Average peak-to-trough decline	-3.05%	-2.97%	-0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.36%	2.27%	-0.91%

Volatility

BDEC vs. UXJA - Volatility Comparison

The current volatility for Innovator U.S. Equity Buffer ETF - December (BDEC) is 1.53%, while FT Vest U.S. Equity Uncapped Accelerator ETF - January (UXJA) has a volatility of 3.40%. This indicates that BDEC experiences smaller price fluctuations and is considered to be less risky than UXJA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BDEC	UXJA	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.53%	3.40%	-1.87%
Volatility (6M) Calculated over the trailing 6-month period	6.34%	10.05%	-3.71%
Volatility (1Y) Calculated over the trailing 1-year period	8.78%	13.54%	-4.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.96%	18.59%	-6.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.27%	18.59%	-4.32%

BDEC vs. UXJA - Expense Ratio Comparison

BDEC has a 0.79% expense ratio, which is lower than UXJA's 0.85% expense ratio.

Dividends

BDEC vs. UXJA - Dividend Comparison

Neither BDEC nor UXJA has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BDEC and UXJA in my portfolio?

With a correlation of 0.98, BDEC and UXJA move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BDEC or UXJA?

UXJA has higher volatility (3.40%) compared to BDEC (1.53%). In terms of maximum drawdown, BDEC dropped -25.60% vs UXJA's -20.01%.

Which ETF is better, BDEC or UXJA?

On 1-year performance, UXJA leads with 29.61% vs 21.54% for BDEC. On fees, BDEC is cheaper at 0.79% per year. On volatility, BDEC has been the lower-risk option at 1.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BDEC or UXJA?

Over the 1-year period, UXJA has performed better with a 29.61% return vs 21.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BDEC or UXJA?

BDEC is cheaper with a 0.79% expense ratio, compared with 0.85% for UXJA.

Which ETF pays a higher dividend yield, BDEC or UXJA?

BDEC and UXJA have nearly identical dividend yields, around 0.00%.

What is the main difference between BDEC and UXJA?

They also come from different issuers: Innovator and First Trust. Their fees differ too: 0.79% for BDEC and 0.85% for UXJA.

Which has better risk-adjusted returns?

BDEC currently has the higher Sharpe Ratio (2.47 vs 2.20), 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.