DDFY vs. PJUL
DDFY (Innovator Equity Dual Directional 15 Buffer ETF - May) and PJUL (Innovator U.S. Equity Power Buffer ETF - July) are both Defined Outcome funds from Innovator - DDFY tracks the SPDR S&P 500 ETF Trust while PJUL tracks the Cboe S&P 500 Buffer Protect Index July. Both are passively managed. Their 0.58 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.79% expense ratio.
Performance
DDFY vs. PJUL - Performance Comparison
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Returns By Period
DDFY
- 1D
- 0.32%
- 1M
- 0.47%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
PJUL
- 1D
- 0.35%
- 1M
- 0.51%
- 6M
- 4.62%
- YTD
- 5.43%
- 1Y
- 11.10%
- 3Y*
- 12.02%
- 5Y*
- 10.37%
- 10Y*
- —
- ALL TIME*
- 8.71%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $205.39K | $255.98K | $1.06M | |
| $6.04M | $11.74M | $6.93M |
DDFY vs. PJUL - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
DDFY Innovator Equity Dual Directional 15 Buffer ETF - May | 0.72% |
PJUL Innovator U.S. Equity Power Buffer ETF - July | 2.06% |
Correlation
The correlation between DDFY and PJUL is 0.58, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since May 1, 2026 | 0.58 |
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Return for Risk
DDFY vs. PJUL — Risk / Return Rank
DDFY
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
PJUL
DDFY vs. PJUL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Dual Directional 15 Buffer ETF - May (DDFY) and Innovator U.S. Equity Power Buffer ETF - July (PJUL). 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.
| DDFY | PJUL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.41 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.87 | — |
| Martin ratioReturn relative to average drawdown | — | 15.66 | — |
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Drawdowns
DDFY vs. PJUL - Drawdown Comparison
The maximum DDFY drawdown since its inception was -1.49%, smaller than the maximum PJUL drawdown of -18.17%. Use the drawdown chart below to compare losses from any high point for DDFY and PJUL.
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Drawdown Indicators
| DDFY | PJUL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.49% | -18.17% | +16.68% |
Max Drawdown (1Y)Largest decline over 1 year | — | -3.64% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -10.69% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -10.69% | — |
Current DrawdownCurrent decline from peak | -0.12% | -0.34% | +0.22% |
Average DrawdownAverage peak-to-trough decline | -0.50% | -1.45% | +0.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.67% | — |
Volatility
DDFY vs. PJUL - Volatility Comparison
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Volatility by Period
| DDFY | PJUL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.96% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 4.13% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 5.43% | 5.21% | +0.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.43% | 8.62% | -3.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.43% | 9.96% | -4.53% |
DDFY vs. PJUL - Expense Ratio Comparison
Both DDFY and PJUL have an expense ratio of 0.79%.
Dividends
DDFY vs. PJUL - Dividend Comparison
Neither DDFY nor PJUL has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
DDFY Innovator Equity Dual Directional 15 Buffer ETF - May | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PJUL Innovator U.S. Equity Power Buffer ETF - July | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.82% |
Frequently Asked Questions
DDFY and PJUL have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.79% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
DDFY and PJUL have the same expense ratio: 0.79% per year.
DDFY and PJUL have nearly identical dividend yields, around 0.00%.
DDFY tracks SPDR S&P 500 ETF Trust, while PJUL tracks Cboe S&P 500 Buffer Protect Index July.
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