BJUL vs. EALT

Last updated Jun 24, 2026

BJUL (Innovator U.S. Equity Buffer ETF - July) and EALT (Innovator U.S. Equity 5 To 15 Buffer ETF - Quarterly) are both exchange-traded funds - BJUL is a Defined Outcome fund tracking the S&P 500, while EALT is a Options Trading fund actively managed by Innovator. BJUL is passively managed, while EALT is actively managed. Over the past year, BJUL returned 18.15% vs 10.22% for EALT. Their correlation of 0.91 suggests significant overlap in exposure. BJUL charges 0.79%/yr vs 0.69%/yr for EALT.

Performance

BJUL vs. EALT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Buffer ETF - July (BJUL) and Innovator U.S. Equity 5 To 15 Buffer ETF - Quarterly (EALT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BJUL achieves a 6.42% return, which is significantly higher than EALT's 1.32% return.

BJUL

• 1D: -0.21%
• 1M: 0.65%
• YTD: 6.42%
• 6M: 6.09%
• 1Y: 18.15%
• 3Y*: 16.15%
• 5Y*: 11.47%
• 10Y*: —

EALT

• 1D: -0.03%
• 1M: 0.58%
• YTD: 1.32%
• 6M: 0.35%
• 1Y: 10.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BJUL vs. EALT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BJUL Innovator U.S. Equity Buffer ETF - July	6.42%	13.93%	18.41%	9.17%
EALT Innovator U.S. Equity 5 To 15 Buffer ETF - Quarterly	1.32%	9.45%	18.02%	6.68%

Correlation

The correlation between BJUL and EALT is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (All Time) Calculated using the full available price history since Oct 2, 2023	0.91

The correlation between BJUL and EALT has been stable across timeframes, ranging from 0.87 to 0.91 - a consistent structural relationship.

Return for Risk

BJUL vs. EALT — Risk / Return Rank

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

BJUL

BJUL Risk / Return Rank: 84
BJUL Sharpe Ratio Rank: 84
BJUL Sortino Ratio Rank: 87
BJUL Omega Ratio Rank: 88
BJUL Calmar Ratio Rank: 71
BJUL Martin Ratio Rank: 87

EALT

EALT Risk / Return Rank: 39
EALT Sharpe Ratio Rank: 42
EALT Sortino Ratio Rank: 38
EALT Omega Ratio Rank: 43
EALT Calmar Ratio Rank: 33
EALT Martin Ratio Rank: 40

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.

BJUL vs. EALT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Buffer ETF - July (BJUL) and Innovator U.S. Equity 5 To 15 Buffer ETF - Quarterly (EALT). 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.

	BJUL	EALT	Difference
Sharpe ratio: Return per unit of total volatility	2.51	1.39	+1.13
Sortino ratio: Return per unit of downside risk	3.64	1.91	+1.73
Omega ratio: Gain probability vs. loss probability	1.51	1.26	+0.24
Calmar ratio: Return relative to maximum drawdown	3.37	1.54	+1.83
Martin ratio: Return relative to average drawdown	17.62	5.81	+11.81

BJUL vs. EALT - Sharpe Ratio Comparison

The current BJUL Sharpe Ratio is 2.51, which is higher than the EALT Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of BJUL and EALT, 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

BJUL vs. EALT - Drawdown Comparison

The maximum BJUL drawdown since its inception was -24.03%, which is greater than EALT's maximum drawdown of -14.76%. Use the drawdown chart below to compare losses from any high point for BJUL and EALT.

Drawdown Indicators

	BJUL	EALT	Difference
Max Drawdown Largest peak-to-trough decline	-24.03%	-14.76%	-9.27%
Max Drawdown (1Y) Largest decline over 1 year	-5.40%	-6.66%	+1.26%
Max Drawdown (3Y) Largest decline over 3 years	-14.06%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-14.06%	—	—
Current Drawdown Current decline from peak	-0.21%	-0.43%	+0.22%
Average Drawdown Average peak-to-trough decline	-2.48%	-1.62%	-0.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.03%	1.76%	-0.73%

Volatility

BJUL vs. EALT - Volatility Comparison

Innovator U.S. Equity Buffer ETF - July (BJUL) has a higher volatility of 1.14% compared to Innovator U.S. Equity 5 To 15 Buffer ETF - Quarterly (EALT) at 0.55%. This indicates that BJUL's price experiences larger fluctuations and is considered to be riskier than EALT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BJUL	EALT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.14%	0.55%	+0.59%
Volatility (6M) Calculated over the trailing 6-month period	5.50%	5.17%	+0.33%
Volatility (1Y) Calculated over the trailing 1-year period	7.30%	7.41%	-0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.62%	9.97%	+1.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.60%	9.97%	+3.63%

BJUL vs. EALT - Expense Ratio Comparison

BJUL has a 0.79% expense ratio, which is higher than EALT's 0.69% expense ratio.

Dividends

BJUL vs. EALT - Dividend Comparison

Neither BJUL nor EALT has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BJUL and EALT in my portfolio?

BJUL and EALT have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BJUL or EALT?

BJUL has higher volatility (1.14%) compared to EALT (0.55%). In terms of maximum drawdown, BJUL dropped -24.03% vs EALT's -14.76%.

Which ETF is better, BJUL or EALT?

On 1-year performance, BJUL leads with 18.15% vs 10.22% for EALT. On fees, EALT is cheaper at 0.69% per year. On volatility, EALT has been the lower-risk option at 0.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BJUL or EALT?

Over the 1-year period, BJUL has performed better with a 18.15% return vs 10.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BJUL or EALT?

EALT is cheaper with a 0.69% expense ratio, compared with 0.79% for BJUL.

Which ETF pays a higher dividend yield, BJUL or EALT?

BJUL and EALT have nearly identical dividend yields, around 0.00%.

What is the main difference between BJUL and EALT?

BJUL is categorized as Defined Outcome, while EALT is Options Trading. Their fees differ too: 0.79% for BJUL and 0.69% for EALT.

Which has better risk-adjusted returns?

BJUL currently has the higher Sharpe Ratio (2.51 vs 1.39), 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.