EJAN vs. DVQQ

Last updated Jun 3, 2026

EJAN (Innovator Emerging Markets Power Buffer ETF January) and DVQQ (WEBs QQQ Defined Volatility ETF) are both exchange-traded funds - EJAN is a Volatility Hedged Equity fund tracking the MSCI Emerging Markets Index, while DVQQ is a Large Cap Growth Equities fund tracking the Syntax Defined Volatility Triple Qs Index. Both are passively managed. Over the past year, EJAN returned 16.24% vs 52.11% for DVQQ. A 0.60 correlation means they provide meaningful diversification when combined. EJAN charges 0.89%/yr vs 0.94%/yr for DVQQ.

Performance

EJAN vs. DVQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Emerging Markets Power Buffer ETF January (EJAN) and WEBs QQQ Defined Volatility ETF (DVQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EJAN achieves a 6.81% return, which is significantly lower than DVQQ's 21.84% return.

EJAN

• 1D: -0.02%
• 1M: 1.26%
• YTD: 6.81%
• 6M: 7.51%
• 1Y: 16.24%
• 3Y*: 8.61%
• 5Y*: 3.11%
• 10Y*: —

DVQQ

• 1D: 0.71%
• 1M: 15.01%
• YTD: 21.84%
• 6M: 18.89%
• 1Y: 52.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EJAN vs. DVQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EJAN Innovator Emerging Markets Power Buffer ETF January	6.81%	14.78%	-2.90%
DVQQ WEBs QQQ Defined Volatility ETF	21.84%	18.03%	-7.61%

Correlation

The correlation between EJAN and DVQQ is 0.59, 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	0.59
Correlation (All Time) Calculated using the full available price history since Dec 18, 2024	0.60

The correlation between EJAN and DVQQ has been stable across timeframes, ranging from 0.59 to 0.60 - a consistent structural relationship.

Return for Risk

EJAN vs. DVQQ — Risk / Return Rank

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

EJAN

EJAN Risk / Return Rank: 63
EJAN Sharpe Ratio Rank: 60
EJAN Sortino Ratio Rank: 63
EJAN Omega Ratio Rank: 79
EJAN Calmar Ratio Rank: 49
EJAN Martin Ratio Rank: 63

DVQQ

DVQQ Risk / Return Rank: 60
DVQQ Sharpe Ratio Rank: 68
DVQQ Sortino Ratio Rank: 58
DVQQ Omega Ratio Rank: 60
DVQQ Calmar Ratio Rank: 59
DVQQ Martin Ratio Rank: 56

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.

EJAN vs. DVQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Emerging Markets Power Buffer ETF January (EJAN) and WEBs QQQ Defined Volatility ETF (DVQQ). 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.

	EJAN	DVQQ	Difference
Sharpe ratio Return per unit of total volatility	2.06	2.29	-0.23
Sortino ratio Return per unit of downside risk	2.99	2.83	+0.16
Omega ratio Gain probability vs. loss probability	1.49	1.38	+0.11
Calmar ratio Return relative to maximum drawdown	2.49	2.97	-0.48
Martin ratio Return relative to average drawdown	11.66	9.79	+1.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EJAN vs. DVQQ - Sharpe Ratio Comparison

The current EJAN Sharpe Ratio is 2.06, which is comparable to the DVQQ Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of EJAN and DVQQ, 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

	EJAN	DVQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.06	2.29	-0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.89	-0.54

Drawdowns

EJAN vs. DVQQ - Drawdown Comparison

The maximum EJAN drawdown since its inception was -22.23%, smaller than the maximum DVQQ drawdown of -25.09%. Use the drawdown chart below to compare losses from any high point for EJAN and DVQQ.

Drawdown Indicators

	EJAN	DVQQ	Difference
Max Drawdown Largest peak-to-trough decline	-22.23%	-25.09%	+2.86%
Max Drawdown (1Y) Largest decline over 1 year	-6.63%	-17.89%	+11.26%
Max Drawdown (3Y) Largest decline over 3 years	-11.75%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-22.00%	—	—
Current Drawdown Current decline from peak	-0.06%	0.00%	-0.06%
Average Drawdown Average peak-to-trough decline	-5.79%	-7.18%	+1.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.42%	5.43%	-4.01%

Volatility

EJAN vs. DVQQ - Volatility Comparison

The current volatility for Innovator Emerging Markets Power Buffer ETF January (EJAN) is 2.10%, while WEBs QQQ Defined Volatility ETF (DVQQ) has a volatility of 6.27%. This indicates that EJAN experiences smaller price fluctuations and is considered to be less risky than DVQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EJAN	DVQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.10%	6.27%	-4.17%
Volatility (6M) Calculated over the trailing 6-month period	7.28%	16.08%	-8.80%
Volatility (1Y) Calculated over the trailing 1-year period	7.91%	22.86%	-14.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.11%	24.40%	-13.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.69%	24.40%	-11.71%

EJAN vs. DVQQ - Expense Ratio Comparison

EJAN has a 0.89% expense ratio, which is lower than DVQQ's 0.94% expense ratio.

Dividends

EJAN vs. DVQQ - Dividend Comparison

EJAN has not paid dividends to shareholders, while DVQQ's dividend yield for the trailing twelve months is around 0.03%.

Position	TTM	2025
DVQQ WEBs QQQ Defined Volatility ETF	0.03%	0.04%
EJAN Innovator Emerging Markets Power Buffer ETF January	0.00%	0.00%

Frequently Asked Questions

Can I hold both EJAN and DVQQ in my portfolio?

EJAN and DVQQ have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EJAN or DVQQ?

DVQQ has higher volatility (6.27%) compared to EJAN (2.10%). In terms of maximum drawdown, EJAN dropped -22.23% vs DVQQ's -25.09%.

Which ETF is better, EJAN or DVQQ?

On 1-year performance, DVQQ leads with 52.11% vs 16.24% for EJAN. On fees, EJAN is cheaper at 0.89% per year. On volatility, EJAN has been the lower-risk option at 2.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EJAN or DVQQ?

Over the 1-year period, DVQQ has performed better with a 52.11% return vs 16.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EJAN or DVQQ?

EJAN is cheaper with a 0.89% expense ratio, compared with 0.94% for DVQQ.

Which ETF pays a higher dividend yield, EJAN or DVQQ?

DVQQ has the higher dividend yield at 0.03%, compared with 0.00% for EJAN.

What is the main difference between EJAN and DVQQ?

EJAN is categorized as Volatility Hedged Equity, while DVQQ is Large Cap Growth Equities. EJAN tracks MSCI Emerging Markets Index, while DVQQ tracks Syntax Defined Volatility Triple Qs Index. They also come from different issuers: Innovator and WEBs. Their fees differ too: 0.89% for EJAN and 0.94% for DVQQ.

Which has better risk-adjusted returns?

DVQQ currently has the higher Sharpe Ratio (2.29 vs 2.06), 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.