BMAR vs. UXJA

Last updated Jun 4, 2026

BMAR (Innovator U.S. Equity Buffer ETF - March) and UXJA (FT Vest U.S. Equity Uncapped Accelerator ETF - January) are both Defined Outcome funds. BMAR is passively managed, while UXJA is actively managed. Over the past year, BMAR returned 20.97% vs 29.61% for UXJA. With a 0.97 correlation, they move nearly in lockstep. BMAR charges 0.79%/yr vs 0.85%/yr for UXJA.

Performance

BMAR vs. UXJA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Buffer ETF - March (BMAR) 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, BMAR achieves a 8.62% return, which is significantly lower than UXJA's 11.66% return.

BMAR

• 1D: -0.26%
• 1M: 2.82%
• YTD: 8.62%
• 6M: 9.58%
• 1Y: 20.97%
• 3Y*: 16.97%
• 5Y*: 12.18%
• 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)

BMAR vs. UXJA - Yearly Performance Comparison

	2026 (YTD)	2025
BMAR Innovator U.S. Equity Buffer ETF - March	8.62%	12.72%
UXJA FT Vest U.S. Equity Uncapped Accelerator ETF - January	11.66%	13.93%

Correlation

The correlation between BMAR and UXJA is 0.96 - 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	0.96
Correlation (All Time) Calculated using the full available price history since Jan 22, 2025	0.97

The correlation between BMAR and UXJA has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

BMAR vs. UXJA — Risk / Return Rank

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

BMAR

BMAR Risk / Return Rank: 86
BMAR Sharpe Ratio Rank: 86
BMAR Sortino Ratio Rank: 89
BMAR Omega Ratio Rank: 90
BMAR Calmar Ratio Rank: 74
BMAR Martin Ratio Rank: 90

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.

BMAR vs. UXJA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Buffer ETF - March (BMAR) 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.

	BMAR	UXJA	Difference
Sharpe ratio: Return per unit of total volatility	2.85	2.20	+0.65
Sortino ratio: Return per unit of downside risk	4.13	2.98	+1.15
Omega ratio: Gain probability vs. loss probability	1.58	1.38	+0.20
Calmar ratio: Return relative to maximum drawdown	3.73	3.03	+0.71
Martin ratio: Return relative to average drawdown	20.88	13.05	+7.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BMAR vs. UXJA - Sharpe Ratio Comparison

The current BMAR Sharpe Ratio is 2.85, which is comparable to the UXJA Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of BMAR 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

	BMAR	UXJA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.85	2.20	+0.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.08	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.96	1.04	-0.08

Drawdowns

BMAR vs. UXJA - Drawdown Comparison

The maximum BMAR drawdown since its inception was -21.43%, which is greater than UXJA's maximum drawdown of -20.01%. Use the drawdown chart below to compare losses from any high point for BMAR and UXJA.

Drawdown Indicators

	BMAR	UXJA	Difference
Max Drawdown Largest peak-to-trough decline	-21.43%	-20.01%	-1.42%
Max Drawdown (1Y) Largest decline over 1 year	-5.64%	-9.83%	+4.19%
Max Drawdown (3Y) Largest decline over 3 years	-12.86%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.02%	—	—
Current Drawdown Current decline from peak	-0.26%	-0.67%	+0.41%
Average Drawdown Average peak-to-trough decline	-2.34%	-2.97%	+0.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.01%	2.27%	-1.26%

Volatility

BMAR vs. UXJA - Volatility Comparison

The current volatility for Innovator U.S. Equity Buffer ETF - March (BMAR) is 1.45%, while FT Vest U.S. Equity Uncapped Accelerator ETF - January (UXJA) has a volatility of 3.40%. This indicates that BMAR 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

	BMAR	UXJA	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.45%	3.40%	-1.95%
Volatility (6M) Calculated over the trailing 6-month period	5.88%	10.05%	-4.17%
Volatility (1Y) Calculated over the trailing 1-year period	7.39%	13.54%	-6.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.32%	18.59%	-7.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.67%	18.59%	-4.92%

BMAR vs. UXJA - Expense Ratio Comparison

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

Dividends

BMAR vs. UXJA - Dividend Comparison

Neither BMAR nor UXJA has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BMAR and UXJA in my portfolio?

With a correlation of 0.96, BMAR 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, BMAR or UXJA?

UXJA has higher volatility (3.40%) compared to BMAR (1.45%). In terms of maximum drawdown, BMAR dropped -21.43% vs UXJA's -20.01%.

Which ETF is better, BMAR or UXJA?

On 1-year performance, UXJA leads with 29.61% vs 20.97% for BMAR. On fees, BMAR is cheaper at 0.79% per year. On volatility, BMAR has been the lower-risk option at 1.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BMAR or UXJA?

Over the 1-year period, UXJA has performed better with a 29.61% return vs 20.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BMAR or UXJA?

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

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

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

What is the main difference between BMAR and UXJA?

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

Which has better risk-adjusted returns?

BMAR currently has the higher Sharpe Ratio (2.85 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.