IBGB vs. APRJ
IBGB (iShares iBonds Dec 2045 Term Treasury ETF) and APRJ (Innovator Premium Income 30 Barrier ETF - April) are both exchange-traded funds - IBGB is a Government Bonds fund tracking the ICE 2045 Maturity US Treasury Index, while APRJ is a Options Trading fund actively managed by Innovator. IBGB is passively managed, while APRJ is actively managed. Over the past year, IBGB returned -0.26% vs 6.37% for APRJ. Their 0.07 correlation means their historical movements had little consistent relationship. IBGB charges 0.07%/yr vs 0.79%/yr for APRJ.
Performance
IBGB vs. APRJ - Performance Comparison
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Returns By Period
In the year-to-date period, IBGB achieves a -1.86% return, which is significantly lower than APRJ's 4.00% return.
IBGB
- 1D
- 0.77%
- 1M
- -2.11%
- 6M
- -1.81%
- YTD
- -1.86%
- 1Y
- -0.26%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 0.52%
APRJ
- 1D
- 0.00%
- 1M
- 0.48%
- 6M
- 3.82%
- YTD
- 4.00%
- 1Y
- 6.37%
- 3Y*
- 6.22%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 6.44%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $58.19K | $61.99K | $148.26K | |
| $32.56K | $33.15K | $77.72K |
IBGB vs. APRJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IBGB iShares iBonds Dec 2045 Term Treasury ETF | -1.86% | 2.62% |
APRJ Innovator Premium Income 30 Barrier ETF - April | 4.00% | 4.57% |
Correlation
The correlation between IBGB and APRJ is 0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.04 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2025 | 0.07 |
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Return for Risk
IBGB vs. APRJ — Risk / Return Rank
IBGB
APRJ
IBGB vs. APRJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2045 Term Treasury ETF (IBGB) and Innovator Premium Income 30 Barrier ETF - April (APRJ). 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.
| IBGB | APRJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.15 | ||
| Sortino ratioReturn per unit of downside risk | -7.46 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 2.03 | -1.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.04 | 16.07 | -16.11 |
| Martin ratioReturn relative to average drawdown | -0.08 | 76.09 | -76.18 |
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Drawdowns
IBGB vs. APRJ - Drawdown Comparison
The maximum IBGB drawdown since its inception was -8.09%, which is greater than APRJ's maximum drawdown of -4.68%. Use the drawdown chart below to compare losses from any high point for IBGB and APRJ.
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Drawdown Indicators
| IBGB | APRJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.09% | -4.68% | -3.41% |
Max Drawdown (1Y)Largest decline over 1 year | -6.79% | -0.40% | -6.39% |
Max Drawdown (3Y)Largest decline over 3 years | — | -4.68% | — |
Current DrawdownCurrent decline from peak | -5.59% | 0.00% | -5.59% |
Average DrawdownAverage peak-to-trough decline | -3.31% | -0.12% | -3.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.07% | 0.08% | +2.99% |
Volatility
IBGB vs. APRJ - Volatility Comparison
iShares iBonds Dec 2045 Term Treasury ETF (IBGB) has a higher volatility of 2.36% compared to Innovator Premium Income 30 Barrier ETF - April (APRJ) at 0.41%. This indicates that IBGB's price experiences larger fluctuations and is considered to be riskier than APRJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBGB | APRJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.36% | 0.41% | +1.95% |
Volatility (6M)Calculated over the trailing 6-month period | 6.21% | 1.29% | +4.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.02% | 1.56% | +6.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.37% | 3.56% | +5.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.37% | 3.56% | +5.81% |
IBGB vs. APRJ - Expense Ratio Comparison
IBGB has a 0.07% expense ratio, which is lower than APRJ's 0.79% expense ratio.
Dividends
IBGB vs. APRJ - Dividend Comparison
IBGB's dividend yield for the trailing twelve months is around 4.74%, less than APRJ's 5.72% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
APRJ Innovator Premium Income 30 Barrier ETF - April | 5.72% | 5.46% | 5.88% | 4.88% |
IBGB iShares iBonds Dec 2045 Term Treasury ETF | 4.74% | 3.53% | 0.00% | 0.00% |
Frequently Asked Questions
IBGB and APRJ have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBGB has higher volatility (2.36%) compared to APRJ (0.41%). In terms of maximum drawdown, IBGB dropped -8.09% vs APRJ's -4.68%.
On 1-year performance, APRJ leads with 6.37% vs -0.26% for IBGB. On fees, IBGB is cheaper at 0.07% per year. On volatility, APRJ has been the lower-risk option at 0.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, APRJ has performed better with a 6.37% return vs -0.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBGB is cheaper with a 0.07% expense ratio, compared with 0.79% for APRJ.
APRJ has the higher dividend yield at 5.72%, compared with 4.74% for IBGB.
IBGB is categorized as Government Bonds, while APRJ is Options Trading. They also come from different issuers: iShares and Innovator. Their fees differ too: 0.07% for IBGB and 0.79% for APRJ.
APRJ currently has the higher Sharpe Ratio (4.12 vs -0.03), 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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