DDFL vs. DDTM

Last updated Jul 11, 2026

DDFL (Innovator Equity Dual Directional 15 Buffer ETF - July) and DDTM (Innovator Equity Dual Directional 10 Buffer ETF - March) are both Defined Outcome funds from Innovator. DDFL is actively managed, while DDTM is passively managed. A 0.74 correlation means they provide meaningful diversification when combined. Both charge a 0.79% expense ratio.

Performance

DDFL vs. DDTM - 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 Innovator Equity Dual Directional 10 Buffer ETF - March (DDTM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DDFL

• 1D: 0.14%
• 1M: 0.85%
• 6M: 3.50%
• YTD: 3.71%
• 1Y: 8.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DDTM

• 1D: 0.45%
• 1M: 1.20%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DDFL vs. DDTM - Yearly Performance Comparison

	2026 (YTD)
DDFL Innovator Equity Dual Directional 15 Buffer ETF - July	3.15%
DDTM Innovator Equity Dual Directional 10 Buffer ETF - March	5.05%

Correlation

The correlation between DDFL and DDTM is 0.74, 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 Mar 2, 2026	0.74

Return for Risk

DDFL vs. DDTM — Risk / Return Rank

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

DDFL

DDFL Risk / Return Rank: 94
DDFL Sharpe Ratio Rank: 92
DDFL Sortino Ratio Rank: 95
DDFL Omega Ratio Rank: 94
DDFL Calmar Ratio Rank: 93
DDFL Martin Ratio Rank: 96

DDTM

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

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.

DDFL vs. DDTM - 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 Innovator Equity Dual Directional 10 Buffer ETF - March (DDTM). 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.

	DDFL	DDTM	Difference
Sharpe ratio: Return per unit of total volatility	2.60	—	—
Sortino ratio: Return per unit of downside risk	4.12	—	—
Omega ratio: Gain probability vs. loss probability	1.55	—	—
Calmar ratio: Return relative to maximum drawdown	5.06	—	—
Martin ratio: Return relative to average drawdown	25.72	—	—

Drawdowns

DDFL vs. DDTM - Drawdown Comparison

The maximum DDFL drawdown since its inception was -1.83%, smaller than the maximum DDTM drawdown of -5.20%. Use the drawdown chart below to compare losses from any high point for DDFL and DDTM.

Drawdown Indicators

	DDFL	DDTM	Difference
Max Drawdown Largest peak-to-trough decline	-1.83%	-5.20%	+3.37%
Max Drawdown (1Y) Largest decline over 1 year	-1.63%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.30%	-0.89%	+0.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.32%	—	—

Volatility

Volatility by Period

	DDFL	DDTM	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.58%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.29%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.18%	7.87%	-4.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.65%	7.87%	-4.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.65%	7.87%	-4.22%

DDFL vs. DDTM - Expense Ratio Comparison

Both DDFL and DDTM have an expense ratio of 0.79%.

Dividends

DDFL vs. DDTM - Dividend Comparison

Neither DDFL nor DDTM has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both DDFL and DDTM in my portfolio?

DDFL and DDTM have a correlation of 0.74, 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 DDTM?

Both ETFs have the same 0.79% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DDFL or DDTM?

DDFL and DDTM have the same expense ratio: 0.79% per year.

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

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