FOUR vs. BALT
FOUR (Shift4 Payments, Inc.) is a stock, while BALT (Innovator Defined Wealth Shield ETF) is Defined Outcome fund tracking the S&P 500. Over the past 3 years, FOUR returned -10.53%/yr vs 7.11%/yr for BALT. At a 0.41 correlation, their price movements are largely independent.
Performance
FOUR vs. BALT - Performance Comparison
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Returns By Period
In the year-to-date period, FOUR achieves a -29.78% return, which is significantly lower than BALT's 2.19% return.
FOUR
- 1D
- 14.35%
- 1M
- 2.27%
- YTD
- -29.78%
- 6M
- -32.07%
- 1Y
- -54.48%
- 3Y*
- -10.53%
- 5Y*
- -14.80%
- 10Y*
- —
BALT
- 1D
- -0.01%
- 1M
- 0.45%
- YTD
- 2.19%
- 6M
- 2.35%
- 1Y
- 6.77%
- 3Y*
- 7.11%
- 5Y*
- —
- 10Y*
- —
FOUR vs. BALT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FOUR Shift4 Payments, Inc. | -29.78% | -39.32% | 39.60% | 32.92% | -3.45% | -38.19% |
BALT Innovator Defined Wealth Shield ETF | 2.19% | 6.65% | 9.98% | 7.45% | 2.54% | 0.91% |
Correlation
The correlation between FOUR and BALT is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2021 | 0.41 |
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Return for Risk
FOUR vs. BALT — Risk / Return Rank
FOUR
BALT
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.
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.
| FOUR | BALT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.10 | ||
| Sortino ratioReturn per unit of downside risk | -6.31 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.68 | -0.86 |
| Calmar ratioReturn relative to maximum drawdown | -0.82 | 5.89 | -6.71 |
| Martin ratioReturn relative to average drawdown | -1.30 | 21.99 | -23.29 |
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Drawdowns
FOUR vs. BALT - Drawdown Comparison
The maximum FOUR drawdown since its inception was -71.65%, 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.
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Drawdown Indicators
| FOUR | BALT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.65% | -4.89% | -66.76% |
Max Drawdown (1Y)Largest decline over 1 year | -66.64% | -1.15% | -65.49% |
Max Drawdown (3Y)Largest decline over 3 years | -71.65% | -4.89% | -66.76% |
Max Drawdown (5Y)Largest decline over 5 years | -71.65% | — | — |
Current DrawdownCurrent decline from peak | -64.81% | -0.01% | -64.80% |
Average DrawdownAverage peak-to-trough decline | -31.85% | -0.34% | -31.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 41.95% | 0.31% | +41.64% |
Volatility
FOUR vs. BALT - Volatility Comparison
Shift4 Payments, Inc. (FOUR) has a higher volatility of 22.95% compared to Innovator Defined Wealth Shield ETF (BALT) at 0.27%. 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.
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Volatility by Period
| FOUR | BALT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.95% | 0.27% | +22.68% |
Volatility (6M)Calculated over the trailing 6-month period | 49.83% | 1.42% | +48.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.34% | 2.16% | +55.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 56.89% | 3.30% | +53.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.81% | 3.30% | +54.51% |
Dividends
FOUR vs. BALT - Dividend Comparison
Neither FOUR nor BALT has paid dividends to shareholders.
Frequently Asked Questions
FOUR and BALT have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FOUR has higher volatility (22.95%) compared to BALT (0.27%). In terms of maximum drawdown, FOUR dropped -71.65% vs BALT's -4.89%.
BALT currently has the higher Sharpe Ratio (3.15 vs -0.95), 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.
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