BOCT vs. JULB

Last updated Jun 3, 2026

BOCT (Innovator U.S. Equity Buffer ETF October) and JULB (Aptus July Buffer ETF) are both Defined Outcome funds. BOCT is passively managed, while JULB is actively managed. With a 0.96 correlation, they move nearly in lockstep. BOCT charges 0.79%/yr vs 0.25%/yr for JULB.

Performance

BOCT vs. JULB - Performance Comparison

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

Returns By Period

In the year-to-date period, BOCT achieves a 7.34% return, which is significantly higher than JULB's 6.42% return.

BOCT

• 1D: 0.04%
• 1M: 2.79%
• YTD: 7.34%
• 6M: 8.06%
• 1Y: 20.96%
• 3Y*: 14.64%
• 5Y*: 10.67%
• 10Y*: —

JULB

• 1D: 0.02%
• 1M: 2.27%
• YTD: 6.42%
• 6M: 7.18%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BOCT vs. JULB - Yearly Performance Comparison

	2026 (YTD)	2025
BOCT Innovator U.S. Equity Buffer ETF October	7.34%	2.70%
JULB Aptus July Buffer ETF	6.42%	2.56%

Correlation

The correlation between BOCT and JULB 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 (All Time) Calculated using the full available price history since Oct 15, 2025	0.96

Return for Risk

BOCT vs. JULB — Risk / Return Rank

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

BOCT

BOCT Risk / Return Rank: 78
BOCT Sharpe Ratio Rank: 78
BOCT Sortino Ratio Rank: 79
BOCT Omega Ratio Rank: 82
BOCT Calmar Ratio Rank: 68
BOCT Martin Ratio Rank: 82

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. JULB - Risk-Adjusted Trends Comparison

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

	BOCT	JULB	Difference
Sharpe ratio Return per unit of total volatility	2.57	—	—
Sortino ratio Return per unit of downside risk	3.61	—	—
Omega ratio Gain probability vs. loss probability	1.50	—	—
Calmar ratio Return relative to maximum drawdown	3.49	—	—
Martin ratio Return relative to average drawdown	16.80	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	BOCT	JULB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.57	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.97	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	2.20	-1.43

Drawdowns

BOCT vs. JULB - Drawdown Comparison

The maximum BOCT drawdown since its inception was -24.54%, which is greater than JULB's maximum drawdown of -5.24%. Use the drawdown chart below to compare losses from any high point for BOCT and JULB.

Drawdown Indicators

	BOCT	JULB	Difference
Max Drawdown Largest peak-to-trough decline	-24.54%	-5.24%	-19.30%
Max Drawdown (1Y) Largest decline over 1 year	-6.09%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-13.61%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-14.29%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.60%	-0.88%	-1.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.26%	—	—

Volatility

Volatility by Period

	BOCT	JULB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.37%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.12%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	8.18%	6.83%	+1.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.09%	6.83%	+4.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.83%	6.83%	+7.00%

BOCT vs. JULB - Expense Ratio Comparison

BOCT has a 0.79% expense ratio, which is higher than JULB's 0.25% expense ratio.

Dividends

BOCT vs. JULB - Dividend Comparison

Neither BOCT nor JULB has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BOCT Innovator U.S. Equity Buffer ETF October	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.20%
JULB Aptus July Buffer ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BOCT and JULB in my portfolio?

With a correlation of 0.96, BOCT and JULB 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 ETF is better, BOCT or JULB?

On fees, JULB is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BOCT or JULB?

JULB is cheaper with a 0.25% expense ratio, compared with 0.79% for BOCT.

Which ETF pays a higher dividend yield, BOCT or JULB?

BOCT and JULB have nearly identical dividend yields, around 0.00%.

What is the main difference between BOCT and JULB?

They also come from different issuers: Innovator and Aptus Capital Advisors. Their fees differ too: 0.79% for BOCT and 0.25% for JULB.