BOCT vs. AAPL

Last updated Jun 24, 2026

BOCT (Innovator U.S. Equity Buffer ETF October) is Defined Outcome fund tracking the S&P 500 Price Return Index, while AAPL (Apple Inc) is a stock. Over the past 5 years, BOCT returned 10.27%/yr vs 17.74%/yr for AAPL. A 0.66 correlation means they provide meaningful diversification when combined.

Performance

BOCT vs. AAPL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Buffer ETF October (BOCT) and Apple Inc (AAPL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BOCT achieves a 6.25% return, which is significantly lower than AAPL's 8.46% return.

BOCT

• 1D: -0.71%
• 1M: -0.03%
• YTD: 6.25%
• 6M: 5.87%
• 1Y: 18.25%
• 3Y*: 13.66%
• 5Y*: 10.27%
• 10Y*: —

AAPL

• 1D: -0.91%
• 1M: -4.70%
• YTD: 8.46%
• 6M: 8.26%
• 1Y: 46.63%
• 3Y*: 16.93%
• 5Y*: 17.74%
• 10Y*: 30.05%

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

BOCT vs. AAPL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BOCT Innovator U.S. Equity Buffer ETF October	6.25%	14.34%	12.36%	21.13%	-8.14%	14.97%	14.69%	19.05%	-10.47%
AAPL Apple Inc	8.46%	9.05%	30.71%	49.01%	-26.40%	34.65%	82.31%	88.96%	-29.88%

Correlation

The correlation between BOCT and AAPL is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (All Time) Calculated using the full available price history since Oct 1, 2018	0.66

The correlation between BOCT and AAPL shifts across timeframes, from 0.49 (1 year) to 0.66 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

BOCT vs. AAPL — Risk / Return Rank

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

BOCT

BOCT Risk / Return Rank: 74
BOCT Sharpe Ratio Rank: 74
BOCT Sortino Ratio Rank: 74
BOCT Omega Ratio Rank: 78
BOCT Calmar Ratio Rank: 65
BOCT Martin Ratio Rank: 79

AAPL

AAPL Risk / Return Rank: 87
AAPL Sharpe Ratio Rank: 89
AAPL Sortino Ratio Rank: 88
AAPL Omega Ratio Rank: 88
AAPL Calmar Ratio Rank: 86
AAPL Martin Ratio Rank: 85

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.

BOCT vs. AAPL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Buffer ETF October (BOCT) and Apple Inc (AAPL). 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.

	BOCT	AAPL	Difference
Sharpe ratio: Return per unit of total volatility	2.19	2.08	+0.11
Sortino ratio: Return per unit of downside risk	3.06	2.94	+0.13
Omega ratio: Gain probability vs. loss probability	1.42	1.38	+0.04
Calmar ratio: Return relative to maximum drawdown	3.01	3.40	-0.39
Martin ratio: Return relative to average drawdown	14.26	8.35	+5.92

BOCT vs. AAPL - Sharpe Ratio Comparison

The current BOCT Sharpe Ratio is 2.19, which is comparable to the AAPL Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of BOCT and AAPL, 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

BOCT vs. AAPL - Drawdown Comparison

The maximum BOCT drawdown since its inception was -24.54%, smaller than the maximum AAPL drawdown of -81.80%. Use the drawdown chart below to compare losses from any high point for BOCT and AAPL.

Drawdown Indicators

	BOCT	AAPL	Difference
Max Drawdown Largest peak-to-trough decline	-24.54%	-81.80%	+57.26%
Max Drawdown (1Y) Largest decline over 1 year	-6.09%	-13.80%	+7.71%
Max Drawdown (3Y) Largest decline over 3 years	-13.61%	-33.36%	+19.75%
Max Drawdown (5Y) Largest decline over 5 years	-14.29%	-33.36%	+19.07%
Max Drawdown (10Y) Largest decline over 10 years	—	-38.52%	—
Current Drawdown Current decline from peak	-1.08%	-6.63%	+5.55%
Average Drawdown Average peak-to-trough decline	-2.59%	-29.58%	+26.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.28%	5.60%	-4.32%

Volatility

BOCT vs. AAPL - Volatility Comparison

The current volatility for Innovator U.S. Equity Buffer ETF October (BOCT) is 2.64%, while Apple Inc (AAPL) has a volatility of 6.98%. This indicates that BOCT experiences smaller price fluctuations and is considered to be less risky than AAPL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BOCT	AAPL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.64%	6.98%	-4.34%
Volatility (6M) Calculated over the trailing 6-month period	6.48%	16.62%	-10.14%
Volatility (1Y) Calculated over the trailing 1-year period	8.40%	22.57%	-14.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.15%	27.52%	-16.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.80%	28.92%	-15.12%

Dividends

BOCT vs. AAPL - Dividend Comparison

BOCT has not paid dividends to shareholders, while AAPL's dividend yield for the trailing twelve months is around 0.36%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAPL Apple Inc	0.36%	0.38%	0.40%	0.49%	0.70%	0.49%	0.61%	1.04%	1.79%	1.45%	1.93%	1.93%
BOCT Innovator U.S. Equity Buffer ETF October	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.20%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BOCT and AAPL in my portfolio?

BOCT and AAPL have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BOCT or AAPL?

AAPL has higher volatility (6.98%) compared to BOCT (2.64%). In terms of maximum drawdown, BOCT dropped -24.54% vs AAPL's -81.80%.

Which has better risk-adjusted returns?

BOCT currently has the higher Sharpe Ratio (2.19 vs 2.08), 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.