HOCT vs. BALT

Last updated Jun 4, 2026

HOCT (Innovator Premium Income 9 Buffer ETF - October) and BALT (Innovator Defined Wealth Shield ETF) are both exchange-traded funds - HOCT is a Options Trading fund actively managed by Innovator, while BALT is a Defined Outcome fund tracking the S&P 500. HOCT is actively managed, while BALT is passively managed. HOCT charges 0.79%/yr vs 0.69%/yr for BALT.

Performance

HOCT vs. BALT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Premium Income 9 Buffer ETF - October (HOCT) and Innovator Defined Wealth Shield ETF (BALT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HOCT

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BALT

• 1D: -0.06%
• 1M: 0.53%
• YTD: 1.91%
• 6M: 2.81%
• 1Y: 6.95%
• 3Y*: 7.27%
• 5Y*: —
• 10Y*: —

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

HOCT vs. BALT - Yearly Performance Comparison

	2026 (YTD)
HOCT Innovator Premium Income 9 Buffer ETF - October	0.00%
BALT Innovator Defined Wealth Shield ETF	1.25%

Return for Risk

HOCT vs. BALT — Risk / Return Rank

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

BALT

BALT Risk / Return Rank: 92
BALT Sharpe Ratio Rank: 90
BALT Sortino Ratio Rank: 94
BALT Omega Ratio Rank: 93
BALT Calmar Ratio Rank: 91
BALT Martin Ratio Rank: 91

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.

HOCT vs. BALT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Premium Income 9 Buffer ETF - October (HOCT) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	HOCT	BALT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.19	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	1.80	—

Drawdowns

HOCT vs. BALT - Drawdown Comparison

The maximum HOCT drawdown since its inception was 0.00%, smaller than the maximum BALT drawdown of -4.89%. Use the drawdown chart below to compare losses from any high point for HOCT and BALT.

Drawdown Indicators

	HOCT	BALT	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-4.89%	+4.89%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.15%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-4.89%	—
Current Drawdown Current decline from peak	0.00%	-0.06%	+0.06%
Average Drawdown Average peak-to-trough decline	0.00%	-0.34%	+0.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.31%	—

Volatility

Volatility by Period

	HOCT	BALT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.37%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.56%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	2.19%	-2.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	3.32%	-3.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	3.32%	-3.32%

HOCT vs. BALT - Expense Ratio Comparison

HOCT has a 0.79% expense ratio, which is higher than BALT's 0.69% expense ratio.

Dividends

HOCT vs. BALT - Dividend Comparison

Neither HOCT nor BALT has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Which ETF is better, HOCT or BALT?

On fees, BALT is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HOCT or BALT?

BALT is cheaper with a 0.69% expense ratio, compared with 0.79% for HOCT.

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

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

What is the main difference between HOCT and BALT?

HOCT is categorized as Options Trading, while BALT is Defined Outcome. Their fees differ too: 0.79% for HOCT and 0.69% for BALT.