BOUT vs. BALT

Last updated Jun 4, 2026

BOUT (Innovator IBD Breakout Opportunities ETF) and BALT (Innovator Defined Wealth Shield ETF) are both exchange-traded funds - BOUT is a Mid Cap Growth Equities fund tracking the IBD Breakout Stocks Total Return Index, while BALT is a Defined Outcome fund tracking the S&P 500. Both are passively managed. Over the past 3 years, BOUT returned 17.42%/yr vs 7.27%/yr for BALT. A 0.61 correlation means they provide meaningful diversification when combined. BOUT charges 0.80%/yr vs 0.69%/yr for BALT.

Performance

BOUT vs. BALT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator IBD Breakout Opportunities ETF (BOUT) and Innovator Defined Wealth Shield ETF (BALT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BOUT achieves a 31.39% return, which is significantly higher than BALT's 1.91% return.

BOUT

• 1D: -0.01%
• 1M: 5.85%
• YTD: 31.39%
• 6M: 30.30%
• 1Y: 35.27%
• 3Y*: 17.42%
• 5Y*: 8.25%
• 10Y*: —

BALT

• 1D: -0.06%
• 1M: 0.53%
• YTD: 1.91%
• 6M: 2.81%
• 1Y: 6.95%
• 3Y*: 7.27%
• 5Y*: —
• 10Y*: —

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

BOUT vs. BALT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BOUT Innovator IBD Breakout Opportunities ETF	31.39%	-6.77%	18.82%	13.27%	-22.60%	16.61%
BALT Innovator Defined Wealth Shield ETF	1.91%	6.65%	9.98%	7.45%	2.54%	0.82%

Correlation

The correlation between BOUT and BALT is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (All Time) Calculated using the full available price history since Jul 2, 2021	0.61

The correlation between BOUT and BALT has been stable across timeframes, ranging from 0.56 to 0.61 - a consistent structural relationship.

BOUT vs. BALT - Sectors Allocation Comparison

Sectors	BOUT	BALT
Technology	28.4%	36.2%
Financial Services	22.9%	11.9%
Basic Materials	9.9%	1.8%
Consumer Defensive	9.7%	4.9%
Industrials	9.7%	8.1%
Consumer Cyclical	8.5%	10.1%
Utilities	7.0%	2.3%
Real Estate	3.5%	1.9%
Energy	3.1%	3.5%
Healthcare	2.6%	8.4%
Communication Services	2.0%	10.9%

Return for Risk

BOUT vs. BALT — Risk / Return Rank

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

BOUT

BOUT Risk / Return Rank: 51
BOUT Sharpe Ratio Rank: 49
BOUT Sortino Ratio Rank: 47
BOUT Omega Ratio Rank: 46
BOUT Calmar Ratio Rank: 61
BOUT Martin Ratio Rank: 53

BALT

BALT Risk / Return Rank: 92
BALT Sharpe Ratio Rank: 90
BALT Sortino Ratio Rank: 94
BALT Omega Ratio Rank: 93
BALT Calmar Ratio Rank: 91
BALT Martin Ratio Rank: 91

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.

BOUT vs. BALT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator IBD Breakout Opportunities ETF (BOUT) and Innovator Defined Wealth Shield ETF (BALT). 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.

	BOUT	BALT	Difference
Sharpe ratio: Return per unit of total volatility	1.71	3.19	-1.48
Sortino ratio: Return per unit of downside risk	2.33	4.88	-2.55
Omega ratio: Gain probability vs. loss probability	1.30	1.67	-0.38
Calmar ratio: Return relative to maximum drawdown	3.01	6.05	-3.04
Martin ratio: Return relative to average drawdown	9.00	22.58	-13.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BOUT vs. BALT - Sharpe Ratio Comparison

The current BOUT Sharpe Ratio is 1.71, which is lower than the BALT Sharpe Ratio of 3.19. The chart below compares the historical Sharpe Ratios of BOUT and BALT, 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

	BOUT	BALT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.71	3.19	-1.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	1.80	-1.39

Drawdowns

BOUT vs. BALT - Drawdown Comparison

The maximum BOUT drawdown since its inception was -36.75%, which is greater than BALT's maximum drawdown of -4.89%. Use the drawdown chart below to compare losses from any high point for BOUT and BALT.

Drawdown Indicators

	BOUT	BALT	Difference
Max Drawdown Largest peak-to-trough decline	-36.75%	-4.89%	-31.86%
Max Drawdown (1Y) Largest decline over 1 year	-11.76%	-1.15%	-10.61%
Max Drawdown (3Y) Largest decline over 3 years	-25.31%	-4.89%	-20.42%
Max Drawdown (5Y) Largest decline over 5 years	-28.28%	—	—
Current Drawdown Current decline from peak	-0.01%	-0.06%	+0.05%
Average Drawdown Average peak-to-trough decline	-12.29%	-0.34%	-11.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.93%	0.31%	+3.62%

Volatility

BOUT vs. BALT - Volatility Comparison

Innovator IBD Breakout Opportunities ETF (BOUT) has a higher volatility of 5.96% compared to Innovator Defined Wealth Shield ETF (BALT) at 0.37%. This indicates that BOUT's price experiences larger fluctuations and is considered to be riskier than BALT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BOUT	BALT	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.96%	0.37%	+5.59%
Volatility (6M) Calculated over the trailing 6-month period	16.05%	1.56%	+14.49%
Volatility (1Y) Calculated over the trailing 1-year period	20.79%	2.19%	+18.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.48%	3.32%	+16.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.93%	3.32%	+19.61%

BOUT vs. BALT - Expense Ratio Comparison

BOUT has a 0.80% expense ratio, which is higher than BALT's 0.69% expense ratio.

Dividends

BOUT vs. BALT - Dividend Comparison

BOUT's dividend yield for the trailing twelve months is around 0.26%, while BALT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BALT Innovator Defined Wealth Shield ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
BOUT Innovator IBD Breakout Opportunities ETF	0.26%	0.34%	0.60%	1.32%	1.35%	0.00%	0.00%	0.00%	0.22%

Frequently Asked Questions

Can I hold both BOUT and BALT in my portfolio?

BOUT and BALT have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BOUT or BALT?

BOUT has higher volatility (5.96%) compared to BALT (0.37%). In terms of maximum drawdown, BOUT dropped -36.75% vs BALT's -4.89%.

Which ETF is better, BOUT or BALT?

On 3-year performance, BOUT leads with 17.42% vs 7.27% for BALT. On fees, BALT is cheaper at 0.69% per year. On volatility, BALT has been the lower-risk option at 0.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BOUT or BALT?

Over the 3-year period, BOUT has performed better with a 17.42% return vs 7.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BOUT or BALT?

BALT is cheaper with a 0.69% expense ratio, compared with 0.80% for BOUT.

Which ETF pays a higher dividend yield, BOUT or BALT?

BOUT has the higher dividend yield at 0.26%, compared with 0.00% for BALT.

What is the main difference between BOUT and BALT?

BOUT is categorized as Mid Cap Growth Equities, while BALT is Defined Outcome. BOUT tracks IBD Breakout Stocks Total Return Index, while BALT tracks S&P 500. Their fees differ too: 0.80% for BOUT and 0.69% for BALT.

Which has better risk-adjusted returns?

BALT currently has the higher Sharpe Ratio (3.19 vs 1.71), 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.