BSCS vs. BALT

Last updated Jun 3, 2026

BSCS (Invesco BulletShares 2028 Corporate Bond ETF) and BALT (Innovator Defined Wealth Shield ETF) are both exchange-traded funds - BSCS is a Corporate Bonds fund tracking the NASDAQ BulletShares USD Corporate Bond 2028 TR Index, while BALT is a Defined Outcome fund tracking the S&P 500. Both are passively managed. Over the past 3 years, BSCS returned 5.47%/yr vs 7.29%/yr for BALT. At a 0.15 correlation, their price movements are largely independent. BSCS charges 0.10%/yr vs 0.69%/yr for BALT.

Performance

BSCS vs. BALT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco BulletShares 2028 Corporate Bond ETF (BSCS) 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, BSCS achieves a 0.81% return, which is significantly lower than BALT's 1.97% return.

BSCS

• 1D: 0.00%
• 1M: 0.20%
• YTD: 0.81%
• 6M: 1.30%
• 1Y: 4.61%
• 3Y*: 5.47%
• 5Y*: 1.47%
• 10Y*: —

BALT

• 1D: 0.01%
• 1M: 0.54%
• YTD: 1.97%
• 6M: 2.98%
• 1Y: 7.15%
• 3Y*: 7.29%
• 5Y*: —
• 10Y*: —

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

BSCS vs. BALT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BSCS Invesco BulletShares 2028 Corporate Bond ETF	0.81%	7.04%	3.87%	7.62%	-11.24%	-0.62%
BALT Innovator Defined Wealth Shield ETF	1.97%	6.65%	9.98%	7.45%	2.54%	0.82%

Correlation

The correlation between BSCS and BALT is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (All Time) Calculated using the full available price history since Jul 2, 2021	0.15

The correlation between BSCS and BALT shifts across timeframes, from 0.05 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.

BSCS vs. BALT - Sectors Allocation Comparison

Sectors	BSCS	BALT
Financial Services	14.8%	11.9%
Technology	11.9%	36.2%
Healthcare	10.3%	8.4%
Consumer Cyclical	9.4%	10.1%
Industrials	8.4%	8.1%
Consumer Defensive	5.8%	4.9%
Utilities	4.5%	2.3%
Real Estate	4.1%	1.9%
Communication Services	4.1%	10.9%
Energy	3.6%	3.5%
Basic Materials	1.4%	1.8%

Return for Risk

BSCS vs. BALT — Risk / Return Rank

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

BSCS

BSCS Risk / Return Rank: 86
BSCS Sharpe Ratio Rank: 83
BSCS Sortino Ratio Rank: 92
BSCS Omega Ratio Rank: 90
BSCS Calmar Ratio Rank: 80
BSCS Martin Ratio Rank: 85

BALT

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

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.

BSCS vs. BALT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2028 Corporate Bond ETF (BSCS) 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.

	BSCS	BALT	Difference
Sharpe ratio Return per unit of total volatility	2.75	3.28	-0.53
Sortino ratio Return per unit of downside risk	4.60	5.02	-0.41
Omega ratio Gain probability vs. loss probability	1.58	1.70	-0.11
Calmar ratio Return relative to maximum drawdown	4.17	6.23	-2.05
Martin ratio Return relative to average drawdown	17.91	23.27	-5.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BSCS vs. BALT - Sharpe Ratio Comparison

The current BSCS Sharpe Ratio is 2.75, which is comparable to the BALT Sharpe Ratio of 3.28. The chart below compares the historical Sharpe Ratios of BSCS 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

	BSCS	BALT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.75	3.28	-0.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	1.80	-1.20

Drawdowns

BSCS vs. BALT - Drawdown Comparison

The maximum BSCS drawdown since its inception was -18.40%, which is greater than BALT's maximum drawdown of -4.89%. Use the drawdown chart below to compare losses from any high point for BSCS and BALT.

Drawdown Indicators

	BSCS	BALT	Difference
Max Drawdown Largest peak-to-trough decline	-18.40%	-4.89%	-13.51%
Max Drawdown (1Y) Largest decline over 1 year	-1.08%	-1.15%	+0.07%
Max Drawdown (3Y) Largest decline over 3 years	-3.14%	-4.89%	+1.75%
Max Drawdown (5Y) Largest decline over 5 years	-17.63%	—	—
Current Drawdown Current decline from peak	-0.05%	0.00%	-0.05%
Average Drawdown Average peak-to-trough decline	-4.20%	-0.34%	-3.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.25%	0.31%	-0.06%

Volatility

BSCS vs. BALT - Volatility Comparison

Invesco BulletShares 2028 Corporate Bond ETF (BSCS) has a higher volatility of 0.38% compared to Innovator Defined Wealth Shield ETF (BALT) at 0.36%. This indicates that BSCS'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

	BSCS	BALT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.38%	0.36%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	1.02%	1.56%	-0.54%
Volatility (1Y) Calculated over the trailing 1-year period	1.69%	2.19%	-0.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.92%	3.32%	+1.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.24%	3.32%	+2.92%

BSCS vs. BALT - Expense Ratio Comparison

BSCS has a 0.10% expense ratio, which is lower than BALT's 0.69% expense ratio.

Dividends

BSCS vs. BALT - Dividend Comparison

BSCS's dividend yield for the trailing twelve months is around 4.46%, 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%
BSCS Invesco BulletShares 2028 Corporate Bond ETF	4.46%	4.46%	4.54%	3.90%	2.72%	2.14%	2.50%	3.04%	1.42%

Frequently Asked Questions

Can I hold both BSCS and BALT in my portfolio?

BSCS and BALT have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BSCS or BALT?

BSCS has higher volatility (0.38%) compared to BALT (0.36%). In terms of maximum drawdown, BSCS dropped -18.40% vs BALT's -4.89%.

Which ETF is better, BSCS or BALT?

On 3-year performance, BALT leads with 7.29% vs 5.47% for BSCS. On fees, BSCS is cheaper at 0.10% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BSCS or BALT?

Over the 3-year period, BALT has performed better with a 7.29% return vs 5.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BSCS or BALT?

BSCS is cheaper with a 0.10% expense ratio, compared with 0.69% for BALT.

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

BSCS has the higher dividend yield at 4.46%, compared with 0.00% for BALT.

What is the main difference between BSCS and BALT?

BSCS is categorized as Corporate Bonds, while BALT is Defined Outcome. BSCS tracks NASDAQ BulletShares USD Corporate Bond 2028 TR Index, while BALT tracks S&P 500. They also come from different issuers: Invesco and Innovator. Their fees differ too: 0.10% for BSCS and 0.69% for BALT.

Which has better risk-adjusted returns?

BALT currently has the higher Sharpe Ratio (3.28 vs 2.75), 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.