FOUR vs. BALT

Last updated Apr 1, 2026

Compare and contrast key facts about Shift4 Payments, Inc. (FOUR) and Innovator Defined Wealth Shield ETF (BALT).

BALT is a passively managed fund by Innovator that tracks the performance of the S&P 500. It was launched on Jun 30, 2021.

Performance

FOUR vs. BALT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Shift4 Payments, Inc. (FOUR) and Innovator Defined Wealth Shield ETF (BALT). The values are adjusted to include any dividend payments, if applicable.

FOUR vs. BALT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FOUR Shift4 Payments, Inc.	-30.55%	-39.32%	39.60%	32.92%	-3.45%	-39.14%
BALT Innovator Defined Wealth Shield ETF	-0.13%	6.65%	9.98%	7.45%	2.54%	0.82%

Returns By Period

In the year-to-date period, FOUR achieves a -30.55% return, which is significantly lower than BALT's -0.13% return.

FOUR

• 1D: 0.25%
• 1M: -0.77%
• YTD: -30.55%
• 6M: -43.50%
• 1Y: -46.48%
• 3Y*: -16.75%
• 5Y*: -12.87%
• 10Y*: —

BALT

• 1D: 0.10%
• 1M: -0.87%
• YTD: -0.13%
• 6M: 1.97%
• 1Y: 6.64%
• 3Y*: 7.11%
• 5Y*: —
• 10Y*: —

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

Return for Risk

FOUR vs. BALT — Risk / Return Rank

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

FOUR

FOUR Risk / Return Rank: 9
FOUR Sharpe Ratio Rank: 8
FOUR Sortino Ratio Rank: 9
FOUR Omega Ratio Rank: 9
FOUR Calmar Ratio Rank: 14
FOUR Martin Ratio Rank: 8

BALT

BALT Risk / Return Rank: 86
BALT Sharpe Ratio Rank: 81
BALT Sortino Ratio Rank: 87
BALT Omega Ratio Rank: 94
BALT Calmar Ratio Rank: 76
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.

FOUR vs. BALT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Shift4 Payments, Inc. (FOUR) 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.

	FOUR	BALT	Difference
Sharpe ratio Return per unit of total volatility	-0.85	1.49	-2.34
Sortino ratio Return per unit of downside risk	-1.20	2.29	-3.49
Omega ratio Gain probability vs. loss probability	0.84	1.43	-0.58
Calmar ratio Return relative to maximum drawdown	-0.79	1.91	-2.70
Martin ratio Return relative to average drawdown	-1.57	12.79	-14.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FOUR vs. BALT - Sharpe Ratio Comparison

The current FOUR Sharpe Ratio is -0.85, which is lower than the BALT Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of FOUR and BALT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FOUR	BALT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.85	1.49	-2.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.23	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	1.70	-1.62

Correlation

The correlation between FOUR and BALT is 0.42, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FOUR vs. BALT - Dividend Comparison

Neither FOUR nor BALT has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

FOUR vs. BALT - Drawdown Comparison

The maximum FOUR drawdown since its inception was -69.95%, which is greater than BALT's maximum drawdown of -4.89%. Use the drawdown chart below to compare losses from any high point for FOUR and BALT.

Drawdown Indicators

	FOUR	BALT	Difference
Max Drawdown Largest peak-to-trough decline	-69.95%	-4.89%	-65.06%
Max Drawdown (1Y) Largest decline over 1 year	-61.45%	-3.48%	-57.97%
Max Drawdown (5Y) Largest decline over 5 years	-69.95%	—	—
Current Drawdown Current decline from peak	-65.20%	-1.05%	-64.15%
Average Drawdown Average peak-to-trough decline	-30.53%	-0.35%	-30.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.73%	0.52%	+30.21%

Volatility

FOUR vs. BALT - Volatility Comparison

Shift4 Payments, Inc. (FOUR) has a higher volatility of 26.27% compared to Innovator Defined Wealth Shield ETF (BALT) at 0.61%. This indicates that FOUR'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

	FOUR	BALT	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.27%	0.61%	+25.66%
Volatility (6M) Calculated over the trailing 6-month period	41.91%	1.84%	+40.07%
Volatility (1Y) Calculated over the trailing 1-year period	54.77%	4.48%	+50.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	56.00%	3.36%	+52.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	57.36%	3.36%	+54.00%