EJUL vs. EBUF

Last updated Jul 12, 2026

EJUL (Innovator Emerging Markets Power Buffer ETF - July) and EBUF (Innovator Emerging Markets 10 Buffer ETF - Quarterly) are both Defined Outcome funds from Innovator. EJUL is passively managed, while EBUF is actively managed. Over the past year, EJUL returned 11.91% vs 15.21% for EBUF. Their correlation of 0.84 suggests significant overlap in exposure. Both charge a 0.89% expense ratio.

Performance

EJUL vs. EBUF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Emerging Markets Power Buffer ETF - July (EJUL) and Innovator Emerging Markets 10 Buffer ETF - Quarterly (EBUF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EJUL achieves a 4.05% return, which is significantly lower than EBUF's 9.89% return.

EJUL

• 1D: 0.25%
• 1M: -0.90%
• 6M: 2.74%
• YTD: 4.05%
• 1Y: 11.91%
• 3Y*: 10.17%
• 5Y*: 3.22%
• 10Y*: —

EBUF

• 1D: 0.32%
• 1M: 0.05%
• 6M: 8.87%
• YTD: 9.89%
• 1Y: 15.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EJUL vs. EBUF - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EJUL Innovator Emerging Markets Power Buffer ETF - July	4.05%	20.20%	0.63%
EBUF Innovator Emerging Markets 10 Buffer ETF - Quarterly	9.89%	11.55%	2.75%

Correlation

The correlation between EJUL and EBUF is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (All Time) Calculated using the full available price history since Jul 1, 2024	0.84

The correlation between EJUL and EBUF has been stable across timeframes, ranging from 0.82 to 0.84 - a consistent structural relationship.

Return for Risk

EJUL vs. EBUF — Risk / Return Rank

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

EJUL

EJUL Risk / Return Rank: 73
EJUL Sharpe Ratio Rank: 64
EJUL Sortino Ratio Rank: 65
EJUL Omega Ratio Rank: 76
EJUL Calmar Ratio Rank: 76
EJUL Martin Ratio Rank: 84

EBUF

EBUF Risk / Return Rank: 94
EBUF Sharpe Ratio Rank: 90
EBUF Sortino Ratio Rank: 93
EBUF Omega Ratio Rank: 94
EBUF Calmar Ratio Rank: 96
EBUF Martin Ratio Rank: 96

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.

EJUL vs. EBUF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Emerging Markets Power Buffer ETF - July (EJUL) and Innovator Emerging Markets 10 Buffer ETF - Quarterly (EBUF). 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.

	EJUL	EBUF	Difference
Sharpe ratio: Return per unit of total volatility	1.69	2.40	-0.71
Sortino ratio: Return per unit of downside risk	2.40	3.70	-1.30
Omega ratio: Gain probability vs. loss probability	1.36	1.56	-0.21
Calmar ratio: Return relative to maximum drawdown	3.10	6.88	-3.77
Martin ratio: Return relative to average drawdown	13.19	28.92	-15.73

EJUL vs. EBUF - Sharpe Ratio Comparison

The current EJUL Sharpe Ratio is 1.69, which is comparable to the EBUF Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of EJUL and EBUF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EJUL vs. EBUF - Drawdown Comparison

The maximum EJUL drawdown since its inception was -21.61%, which is greater than EBUF's maximum drawdown of -6.49%. Use the drawdown chart below to compare losses from any high point for EJUL and EBUF.

Drawdown Indicators

	EJUL	EBUF	Difference
Max Drawdown Largest peak-to-trough decline	-21.61%	-6.49%	-15.12%
Max Drawdown (1Y) Largest decline over 1 year	-3.81%	-2.21%	-1.60%
Max Drawdown (3Y) Largest decline over 3 years	-8.36%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.29%	—	—
Current Drawdown Current decline from peak	-1.24%	-0.93%	-0.31%
Average Drawdown Average peak-to-trough decline	-6.52%	-0.50%	-6.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.89%	0.53%	+0.36%

Volatility

EJUL vs. EBUF - Volatility Comparison

Innovator Emerging Markets Power Buffer ETF - July (EJUL) has a higher volatility of 3.42% compared to Innovator Emerging Markets 10 Buffer ETF - Quarterly (EBUF) at 3.02%. This indicates that EJUL's price experiences larger fluctuations and is considered to be riskier than EBUF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EJUL	EBUF	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.42%	3.02%	+0.40%
Volatility (6M) Calculated over the trailing 6-month period	5.62%	5.47%	+0.15%
Volatility (1Y) Calculated over the trailing 1-year period	7.01%	6.35%	+0.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.73%	6.85%	+3.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.43%	6.85%	+4.58%

EJUL vs. EBUF - Expense Ratio Comparison

Both EJUL and EBUF have an expense ratio of 0.89%.

Dividends

EJUL vs. EBUF - Dividend Comparison

Neither EJUL nor EBUF has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
EBUF Innovator Emerging Markets 10 Buffer ETF - Quarterly	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EJUL Innovator Emerging Markets Power Buffer ETF - July	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.64%

Frequently Asked Questions

Can I hold both EJUL and EBUF in my portfolio?

EJUL and EBUF have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EJUL or EBUF?

EJUL has higher volatility (3.42%) compared to EBUF (3.02%). In terms of maximum drawdown, EJUL dropped -21.61% vs EBUF's -6.49%.

Which ETF is better, EJUL or EBUF?

On 1-year performance, EBUF leads with 15.21% vs 11.91% for EJUL. Both ETFs have the same 0.89% expense ratio. On volatility, EBUF has been the lower-risk option at 3.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EJUL or EBUF?

Over the 1-year period, EBUF has performed better with a 15.21% return vs 11.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EJUL or EBUF?

EJUL and EBUF have the same expense ratio: 0.89% per year.

Which ETF pays a higher dividend yield, EJUL or EBUF?

EJUL and EBUF have nearly identical dividend yields, around 0.00%.

Which has better risk-adjusted returns?

EBUF currently has the higher Sharpe Ratio (2.40 vs 1.69), 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.