IAUG vs. BALT

Last updated Aug 1, 2026

IAUG (Innovator International Developed Power Buffer ETF) and BALT (Innovator Defined Wealth Shield ETF) are both Defined Outcome funds from Innovator. IAUG is actively managed, while BALT is passively managed. Over the past year, IAUG returned 13.52% vs 6.82% for BALT. Their 0.56 correlation means they have sometimes moved together and sometimes differently. IAUG charges 0.85%/yr vs 0.69%/yr for BALT.

Performance

IAUG vs. BALT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator International Developed Power Buffer ETF (IAUG) 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, IAUG achieves a 7.10% return, which is significantly higher than BALT's 2.78% return.

IAUG

• 1D: 0.11%
• 1M: 0.82%
• 6M: 4.82%
• YTD: 7.10%
• 1Y: 13.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.93%

BALT

• 1D: 0.17%
• 1M: 0.45%
• 6M: 2.21%
• YTD: 2.78%
• 1Y: 6.82%
• 3Y*: 6.98%
• 5Y*: 5.98%
• 10Y*: —
• ALL TIME*: 5.93%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BALT Innovator Defined Wealth Shield ETF	$14.85M	$18.00M	$16.07M
IAUG Innovator International Developed Power Buffer ETF	$474.64K	$365.80K	$238.62K

IAUG vs. BALT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IAUG Innovator International Developed Power Buffer ETF	7.10%	17.50%	-2.26%
BALT Innovator Defined Wealth Shield ETF	2.78%	6.65%	3.94%

Correlation

The correlation between IAUG and BALT is 0.55, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.55
Correlation (All Time) Calculated using the full available price history since Aug 1, 2024	0.56

The correlation between IAUG and BALT has been stable across timeframes, ranging from 0.55 to 0.56 - a consistent structural relationship.

IAUG vs. BALT - Sectors Allocation Comparison

Sectors	IAUG	BALT
Financial Services	24.7%	11.7%
Industrials	18.8%	8.4%
Technology	12.6%	37.9%
Healthcare	10.5%	9.1%
Consumer Cyclical	7.5%	9.6%
Consumer Defensive	6.8%	4.6%
Basic Materials	5.8%	1.7%
Communication Services	4.5%	10.0%
Utilities	3.8%	2.3%
Energy	3.3%	3.0%
Real Estate	1.7%	1.9%

Return for Risk

IAUG vs. BALT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IAUG

IAUG Risk / Return Rank: 85
IAUG Sharpe Ratio Rank: 87
IAUG Sortino Ratio Rank: 88
IAUG Omega Ratio Rank: 89
IAUG Calmar Ratio Rank: 78
IAUG Martin Ratio Rank: 85

BALT

BALT Risk / Return Rank: 96
BALT Sharpe Ratio Rank: 96
BALT Sortino Ratio Rank: 96
BALT Omega Ratio Rank: 96
BALT Calmar Ratio Rank: 96
BALT Martin Ratio Rank: 95

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IAUG vs. BALT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator International Developed Power Buffer ETF (IAUG) 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.

	IAUG	BALT	Difference
Sharpe ratio: Return per unit of total volatility	2.08	2.91	-0.84
Sortino ratio: Return per unit of downside risk	3.01	4.41	-1.40
Omega ratio: Gain probability vs. loss probability	1.40	1.62	-0.22
Calmar ratio: Return relative to maximum drawdown	2.81	5.71	-2.91
Martin ratio: Return relative to average drawdown	11.98	21.02	-9.04

IAUG vs. BALT - Sharpe Ratio Comparison

The current IAUG Sharpe Ratio is 2.08, which is comparable to the BALT Sharpe Ratio of 2.91. The chart below compares the historical Sharpe Ratios of IAUG 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.

Drawdowns

IAUG vs. BALT - Drawdown Comparison

The maximum IAUG drawdown since its inception was -8.03%, which is greater than BALT's maximum drawdown of -4.89%. Use the drawdown chart below to compare losses from any high point for IAUG and BALT.

Drawdown Indicators

	IAUG	BALT	Difference
Max Drawdown Largest peak-to-trough decline	-8.03%	-4.89%	-3.14%
Max Drawdown (1Y) Largest decline over 1 year	-4.75%	-1.15%	-3.60%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.89%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-4.89%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.53%	-0.34%	-1.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.11%	0.31%	+0.80%

Volatility

IAUG vs. BALT - Volatility Comparison

The current volatility for Innovator International Developed Power Buffer ETF (IAUG) is 0.63%, while Innovator Defined Wealth Shield ETF (BALT) has a volatility of 0.80%. This indicates that IAUG experiences smaller price fluctuations and is considered to be less risky than BALT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IAUG	BALT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.63%	0.80%	-0.17%
Volatility (6M) Calculated over the trailing 6-month period	4.97%	1.49%	+3.48%
Volatility (1Y) Calculated over the trailing 1-year period	6.51%	2.27%	+4.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.76%	3.30%	+5.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.76%	3.28%	+5.48%

IAUG vs. BALT - Expense Ratio Comparison

IAUG has a 0.85% expense ratio, which is higher than BALT's 0.69% expense ratio.

Dividends

IAUG vs. BALT - Dividend Comparison

Neither IAUG nor BALT has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IAUG and BALT in my portfolio?

IAUG and BALT have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IAUG or BALT?

BALT has higher volatility (0.80%) compared to IAUG (0.63%). In terms of maximum drawdown, IAUG dropped -8.03% vs BALT's -4.89%.

Which ETF is better, IAUG or BALT?

On 1-year performance, IAUG leads with 13.52% vs 6.82% for BALT. On fees, BALT is cheaper at 0.69% per year. On volatility, IAUG has been the lower-risk option at 0.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IAUG or BALT?

Over the 1-year period, IAUG has performed better with a 13.52% return vs 6.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IAUG or BALT?

BALT is cheaper with a 0.69% expense ratio, compared with 0.85% for IAUG.

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

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

What is the main difference between IAUG and BALT?

Their fees differ too: 0.85% for IAUG and 0.69% for BALT.

Which has better risk-adjusted returns?

BALT currently has the higher Sharpe Ratio (2.91 vs 2.08), 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.