DDFL vs. AIOO

Last updated Jun 5, 2026

DDFL (Innovator Equity Dual Directional 15 Buffer ETF - July) and AIOO (AllianzIM U.S. Equity Buffer100 Protection ETF) are both Defined Outcome funds. Both are actively managed. A 0.62 correlation means they provide meaningful diversification when combined. DDFL charges 0.79%/yr vs 0.64%/yr for AIOO.

Performance

DDFL vs. AIOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Equity Dual Directional 15 Buffer ETF - July (DDFL) and AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DDFL achieves a 2.83% return, which is significantly higher than AIOO's 2.38% return.

DDFL

• 1D: 0.02%
• 1M: 0.67%
• YTD: 2.83%
• 6M: 3.63%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AIOO

• 1D: 0.04%
• 1M: 0.98%
• YTD: 2.38%
• 6M: 2.37%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DDFL vs. AIOO - Yearly Performance Comparison

	2026 (YTD)	2025
DDFL Innovator Equity Dual Directional 15 Buffer ETF - July	2.83%	4.76%
AIOO AllianzIM U.S. Equity Buffer100 Protection ETF	2.38%	2.67%

Correlation

The correlation between DDFL and AIOO is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 2, 2025	0.62

Return for Risk

DDFL vs. AIOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Dual Directional 15 Buffer ETF - July (DDFL) and AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	DDFL	AIOO	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	2.59	2.80	-0.22

Drawdowns

DDFL vs. AIOO - Drawdown Comparison

The maximum DDFL drawdown since its inception was -1.63%, which is greater than AIOO's maximum drawdown of -0.74%. Use the drawdown chart below to compare losses from any high point for DDFL and AIOO.

Drawdown Indicators

	DDFL	AIOO	Difference
Max Drawdown Largest peak-to-trough decline	-1.63%	-0.74%	-0.89%
Current Drawdown Current decline from peak	-0.02%	-0.09%	+0.07%
Average Drawdown Average peak-to-trough decline	-0.19%	-0.17%	-0.02%

Volatility

Volatility by Period

	DDFL	AIOO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	3.25%	1.98%	+1.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.25%	1.98%	+1.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.25%	1.98%	+1.27%

DDFL vs. AIOO - Expense Ratio Comparison

DDFL has a 0.79% expense ratio, which is higher than AIOO's 0.64% expense ratio.

Dividends

DDFL vs. AIOO - Dividend Comparison

Neither DDFL nor AIOO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both DDFL and AIOO in my portfolio?

DDFL and AIOO have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DDFL or AIOO?

On fees, AIOO is cheaper at 0.64% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DDFL or AIOO?

AIOO is cheaper with a 0.64% expense ratio, compared with 0.79% for DDFL.

Which ETF pays a higher dividend yield, DDFL or AIOO?

DDFL and AIOO have nearly identical dividend yields, around 0.00%.

What is the main difference between DDFL and AIOO?

They also come from different issuers: Innovator and Allianz. Their fees differ too: 0.79% for DDFL and 0.64% for AIOO.