FLJJ vs. BALT

Last updated Jun 3, 2026

FLJJ (Allianzim U.S. Large Cap 6 Month Floor5 Jan/Jul ETF) and BALT (Innovator Defined Wealth Shield ETF) are both exchange-traded funds - FLJJ is a Options Trading fund actively managed by Allianz, while BALT is a Defined Outcome fund tracking the S&P 500. FLJJ is actively managed, while BALT is passively managed. Over the past year, FLJJ returned 15.83% vs 7.15% for BALT. A 0.76 correlation means they provide meaningful diversification when combined. FLJJ charges 0.74%/yr vs 0.69%/yr for BALT.

Performance

FLJJ vs. BALT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allianzim U.S. Large Cap 6 Month Floor5 Jan/Jul ETF (FLJJ) and Innovator Defined Wealth Shield ETF (BALT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLJJ achieves a 4.98% return, which is significantly higher than BALT's 1.97% return.

FLJJ

• 1D: -0.01%
• 1M: 1.71%
• YTD: 4.98%
• 6M: 5.92%
• 1Y: 15.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BALT

• 1D: 0.01%
• 1M: 0.54%
• YTD: 1.97%
• 6M: 2.98%
• 1Y: 7.15%
• 3Y*: 7.29%
• 5Y*: —
• 10Y*: —

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

FLJJ vs. BALT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FLJJ Allianzim U.S. Large Cap 6 Month Floor5 Jan/Jul ETF	4.98%	11.35%	14.19%
BALT Innovator Defined Wealth Shield ETF	1.97%	6.65%	9.06%

Correlation

The correlation between FLJJ and BALT is 0.72, 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	0.72
Correlation (All Time) Calculated using the full available price history since Feb 2, 2024	0.76

The correlation between FLJJ and BALT has been stable across timeframes, ranging from 0.72 to 0.76 - a consistent structural relationship.

FLJJ vs. BALT - Sectors Allocation Comparison

Sectors	FLJJ	BALT
Technology	36.2%	36.2%
Financial Services	11.9%	11.9%
Communication Services	10.9%	10.9%
Consumer Cyclical	10.1%	10.1%
Healthcare	8.4%	8.4%
Industrials	8.1%	8.1%
Consumer Defensive	4.9%	4.9%
Energy	3.5%	3.5%
Utilities	2.3%	2.3%
Real Estate	1.9%	1.9%
Basic Materials	1.8%	1.8%

Return for Risk

FLJJ vs. BALT — Risk / Return Rank

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

FLJJ

FLJJ Risk / Return Rank: 89
FLJJ Sharpe Ratio Rank: 89
FLJJ Sortino Ratio Rank: 94
FLJJ Omega Ratio Rank: 94
FLJJ Calmar Ratio Rank: 79
FLJJ Martin Ratio Rank: 91

BALT

BALT Risk / Return Rank: 93
BALT Sharpe Ratio Rank: 91
BALT Sortino Ratio Rank: 94
BALT Omega Ratio Rank: 94
BALT Calmar Ratio Rank: 92
BALT Martin Ratio Rank: 92

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.

FLJJ vs. BALT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allianzim U.S. Large Cap 6 Month Floor5 Jan/Jul ETF (FLJJ) and Innovator Defined Wealth Shield ETF (BALT). 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.

	FLJJ	BALT	Difference
Sharpe ratio Return per unit of total volatility	3.12	3.28	-0.16
Sortino ratio Return per unit of downside risk	4.83	5.02	-0.19
Omega ratio Gain probability vs. loss probability	1.67	1.70	-0.03
Calmar ratio Return relative to maximum drawdown	4.17	6.23	-2.06
Martin ratio Return relative to average drawdown	21.93	23.27	-1.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLJJ vs. BALT - Sharpe Ratio Comparison

The current FLJJ Sharpe Ratio is 3.12, which is comparable to the BALT Sharpe Ratio of 3.28. The chart below compares the historical Sharpe Ratios of FLJJ and BALT, 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

	FLJJ	BALT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.12	3.28	-0.16
Sharpe Ratio (All Time) Calculated using the full available price history	2.14	1.80	+0.34

Drawdowns

FLJJ vs. BALT - Drawdown Comparison

The maximum FLJJ drawdown since its inception was -6.91%, which is greater than BALT's maximum drawdown of -4.89%. Use the drawdown chart below to compare losses from any high point for FLJJ and BALT.

Drawdown Indicators

	FLJJ	BALT	Difference
Max Drawdown Largest peak-to-trough decline	-6.91%	-4.89%	-2.02%
Max Drawdown (1Y) Largest decline over 1 year	-3.86%	-1.15%	-2.71%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.89%	—
Current Drawdown Current decline from peak	-0.04%	0.00%	-0.04%
Average Drawdown Average peak-to-trough decline	-0.78%	-0.34%	-0.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.73%	0.31%	+0.42%

Volatility

FLJJ vs. BALT - Volatility Comparison

Allianzim U.S. Large Cap 6 Month Floor5 Jan/Jul ETF (FLJJ) has a higher volatility of 0.90% compared to Innovator Defined Wealth Shield ETF (BALT) at 0.36%. This indicates that FLJJ's price experiences larger fluctuations and is considered to be riskier than BALT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLJJ	BALT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.90%	0.36%	+0.54%
Volatility (6M) Calculated over the trailing 6-month period	3.59%	1.56%	+2.03%
Volatility (1Y) Calculated over the trailing 1-year period	5.10%	2.19%	+2.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.21%	3.32%	+2.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.21%	3.32%	+2.89%

FLJJ vs. BALT - Expense Ratio Comparison

FLJJ has a 0.74% expense ratio, which is higher than BALT's 0.69% expense ratio.

Dividends

FLJJ vs. BALT - Dividend Comparison

Neither FLJJ nor BALT has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FLJJ and BALT in my portfolio?

FLJJ and BALT have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLJJ or BALT?

FLJJ has higher volatility (0.90%) compared to BALT (0.36%). In terms of maximum drawdown, FLJJ dropped -6.91% vs BALT's -4.89%.

Which ETF is better, FLJJ or BALT?

On 1-year performance, FLJJ leads with 15.83% vs 7.15% for BALT. On fees, BALT is cheaper at 0.69% per year. On volatility, BALT has been the lower-risk option at 0.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLJJ or BALT?

Over the 1-year period, FLJJ has performed better with a 15.83% return vs 7.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLJJ or BALT?

BALT is cheaper with a 0.69% expense ratio, compared with 0.74% for FLJJ.

Which ETF pays a higher dividend yield, FLJJ or BALT?

FLJJ and BALT have nearly identical dividend yields, around 0.00%.

What is the main difference between FLJJ and BALT?

FLJJ is categorized as Options Trading, while BALT is Defined Outcome. They also come from different issuers: Allianz and Innovator. Their fees differ too: 0.74% for FLJJ and 0.69% for BALT.

Which has better risk-adjusted returns?

BALT currently has the higher Sharpe Ratio (3.28 vs 3.12), 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.