IBIC vs. ZJUL
IBIC (iShares iBonds Oct 2026 Term TIPS ETF) and ZJUL (Innovator Equity Defined Protection ETF - 1 Yr July) are both exchange-traded funds - IBIC is a Inflation-Protected Bonds fund tracking the ICE 2026 Maturity US Inflation-Linked Treasury Index, while ZJUL is a Defined Outcome fund actively managed by Innovator. IBIC is passively managed, while ZJUL is actively managed. Over the past year, IBIC returned 4.54% vs 7.56% for ZJUL. At a correlation of -0.18, they often move in opposite directions. IBIC charges 0.10%/yr vs 0.79%/yr for ZJUL.
Performance
IBIC vs. ZJUL - Performance Comparison
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Returns By Period
In the year-to-date period, IBIC achieves a 2.37% return, which is significantly lower than ZJUL's 2.58% return.
IBIC
- 1D
- 0.02%
- 1M
- 0.27%
- YTD
- 2.37%
- 6M
- 2.51%
- 1Y
- 4.54%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZJUL
- 1D
- 0.02%
- 1M
- 0.66%
- YTD
- 2.58%
- 6M
- 2.81%
- 1Y
- 7.56%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBIC vs. ZJUL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 2.37% | 4.96% | 2.90% |
ZJUL Innovator Equity Defined Protection ETF - 1 Yr July | 2.58% | 7.47% | 4.02% |
Correlation
The correlation between IBIC and ZJUL is -0.31, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.31 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2024 | -0.18 |
The correlation between IBIC and ZJUL shifts across timeframes, from -0.31 (1 year) to -0.18 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IBIC vs. ZJUL — Risk / Return Rank
IBIC
ZJUL
IBIC vs. ZJUL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Oct 2026 Term TIPS ETF (IBIC) and Innovator Equity Defined Protection ETF - 1 Yr July (ZJUL). 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.
| IBIC | ZJUL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.14 | ||
| Sortino ratioReturn per unit of downside risk | +4.34 | ||
| Omega ratioGain probability vs. loss probability | 2.24 | 1.62 | +0.62 |
| Calmar ratioReturn relative to maximum drawdown | 17.27 | 5.29 | +11.98 |
| Martin ratioReturn relative to average drawdown | 67.45 | 28.77 | +38.68 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IBIC | ZJUL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 5.05 | 2.91 | +2.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 3.49 | 1.60 | +1.89 |
Drawdowns
IBIC vs. ZJUL - Drawdown Comparison
The maximum IBIC drawdown since its inception was -0.90%, smaller than the maximum ZJUL drawdown of -5.51%. Use the drawdown chart below to compare losses from any high point for IBIC and ZJUL.
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Drawdown Indicators
| IBIC | ZJUL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.90% | -5.51% | +4.61% |
Max Drawdown (1Y)Largest decline over 1 year | -0.26% | -1.43% | +1.17% |
Current DrawdownCurrent decline from peak | -0.13% | 0.00% | -0.13% |
Average DrawdownAverage peak-to-trough decline | -0.10% | -0.47% | +0.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.07% | 0.26% | -0.19% |
Volatility
IBIC vs. ZJUL - Volatility Comparison
iShares iBonds Oct 2026 Term TIPS ETF (IBIC) has a higher volatility of 0.33% compared to Innovator Equity Defined Protection ETF - 1 Yr July (ZJUL) at 0.24%. This indicates that IBIC's price experiences larger fluctuations and is considered to be riskier than ZJUL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBIC | ZJUL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.33% | 0.24% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 0.67% | 1.83% | -1.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.90% | 2.62% | -1.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.58% | 4.65% | -3.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.58% | 4.65% | -3.07% |
IBIC vs. ZJUL - Expense Ratio Comparison
IBIC has a 0.10% expense ratio, which is lower than ZJUL's 0.79% expense ratio.
Dividends
IBIC vs. ZJUL - Dividend Comparison
IBIC's dividend yield for the trailing twelve months is around 3.59%, while ZJUL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 3.59% | 4.43% | 4.65% | 0.83% |
ZJUL Innovator Equity Defined Protection ETF - 1 Yr July | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBIC and ZJUL 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.
IBIC has higher volatility (0.33%) compared to ZJUL (0.24%). In terms of maximum drawdown, IBIC dropped -0.90% vs ZJUL's -5.51%.
On 1-year performance, ZJUL leads with 7.56% vs 4.54% for IBIC. On fees, IBIC is cheaper at 0.10% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ZJUL has performed better with a 7.56% return vs 4.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIC is cheaper with a 0.10% expense ratio, compared with 0.79% for ZJUL.
IBIC has the higher dividend yield at 3.59%, compared with 0.00% for ZJUL.
IBIC is categorized as Inflation-Protected Bonds, while ZJUL is Defined Outcome. They also come from different issuers: iShares and Innovator. Their fees differ too: 0.10% for IBIC and 0.79% for ZJUL.
IBIC currently has the higher Sharpe Ratio (5.05 vs 2.91), 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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