BJAN vs. IBID
BJAN (Innovator U.S. Equity Buffer ETF - January) and IBID (iShares iBonds Oct 2027 Term TIPS ETF) are both exchange-traded funds - BJAN is a Defined Outcome fund tracking the S&P 500, while IBID is a Inflation-Protected Bonds fund tracking the ICE 2027 Maturity US Inflation-Linked Treasury Index. Both are passively managed. Over the past year, BJAN returned 20.39% vs 4.04% for IBID. At a 0.00 correlation, their price movements are largely independent. BJAN charges 0.79%/yr vs 0.10%/yr for IBID.
Performance
BJAN vs. IBID - Performance Comparison
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Returns By Period
In the year-to-date period, BJAN achieves a 6.79% return, which is significantly higher than IBID's 1.99% return.
BJAN
- 1D
- -0.12%
- 1M
- 0.53%
- YTD
- 6.79%
- 6M
- 7.21%
- 1Y
- 20.39%
- 3Y*
- 16.63%
- 5Y*
- 10.46%
- 10Y*
- —
IBID
- 1D
- 0.00%
- 1M
- -0.19%
- YTD
- 1.99%
- 6M
- 2.08%
- 1Y
- 4.04%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BJAN vs. IBID - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BJAN Innovator U.S. Equity Buffer ETF - January | 6.79% | 14.81% | 17.36% | 6.60% |
IBID iShares iBonds Oct 2027 Term TIPS ETF | 1.99% | 5.66% | 4.71% | 2.61% |
Correlation
The correlation between BJAN and IBID is -0.14, 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 | -0.14 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2023 | 0.00 |
The correlation between BJAN and IBID shifts across timeframes, from -0.14 (1 year) to 0.00 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BJAN vs. IBID — Risk / Return Rank
BJAN
IBID
BJAN vs. IBID - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Buffer ETF - January (BJAN) and iShares iBonds Oct 2027 Term TIPS ETF (IBID). 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.
| BJAN | IBID | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.69 | ||
| Sortino ratioReturn per unit of downside risk | -1.94 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.75 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 3.27 | 8.22 | -4.95 |
| Martin ratioReturn relative to average drawdown | 16.27 | 30.99 | -14.72 |
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Drawdowns
BJAN vs. IBID - Drawdown Comparison
The maximum BJAN drawdown since its inception was -26.86%, which is greater than IBID's maximum drawdown of -1.28%. Use the drawdown chart below to compare losses from any high point for BJAN and IBID.
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Drawdown Indicators
| BJAN | IBID | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.86% | -1.28% | -25.58% |
Max Drawdown (1Y)Largest decline over 1 year | -6.27% | -0.49% | -5.78% |
Max Drawdown (3Y)Largest decline over 3 years | -13.81% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -17.38% | — | — |
Current DrawdownCurrent decline from peak | -0.45% | -0.49% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -2.89% | -0.22% | -2.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.26% | 0.13% | +1.13% |
Volatility
BJAN vs. IBID - Volatility Comparison
Innovator U.S. Equity Buffer ETF - January (BJAN) has a higher volatility of 2.49% compared to iShares iBonds Oct 2027 Term TIPS ETF (IBID) at 0.35%. This indicates that BJAN's price experiences larger fluctuations and is considered to be riskier than IBID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BJAN | IBID | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.49% | 0.35% | +2.14% |
Volatility (6M)Calculated over the trailing 6-month period | 6.44% | 0.86% | +5.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.91% | 1.23% | +6.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.01% | 2.24% | +9.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.05% | 2.24% | +11.81% |
BJAN vs. IBID - Expense Ratio Comparison
BJAN has a 0.79% expense ratio, which is higher than IBID's 0.10% expense ratio.
Dividends
BJAN vs. IBID - Dividend Comparison
BJAN has not paid dividends to shareholders, while IBID's dividend yield for the trailing twelve months is around 3.68%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BJAN Innovator U.S. Equity Buffer ETF - January | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 4.66% |
IBID iShares iBonds Oct 2027 Term TIPS ETF | 3.68% | 4.43% | 4.24% | 0.81% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BJAN and IBID have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BJAN has higher volatility (2.49%) compared to IBID (0.35%). In terms of maximum drawdown, BJAN dropped -26.86% vs IBID's -1.28%.
On 1-year performance, BJAN leads with 20.39% vs 4.04% for IBID. On fees, IBID is cheaper at 0.10% per year. On volatility, IBID has been the lower-risk option at 0.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BJAN has performed better with a 20.39% return vs 4.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBID is cheaper with a 0.10% expense ratio, compared with 0.79% for BJAN.
IBID has the higher dividend yield at 3.68%, compared with 0.00% for BJAN.
BJAN is categorized as Defined Outcome, while IBID is Inflation-Protected Bonds. BJAN tracks S&P 500, while IBID tracks ICE 2027 Maturity US Inflation-Linked Treasury Index. They also come from different issuers: Innovator and iShares. Their fees differ too: 0.79% for BJAN and 0.10% for IBID.
IBID currently has the higher Sharpe Ratio (3.29 vs 2.60), 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.
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