IBUF vs. BALT

Last updated Jun 4, 2026

IBUF (Innovator International Developed 10 Buffer ETF - Quarterly) and BALT (Innovator Defined Wealth Shield ETF) are both Defined Outcome funds from Innovator. IBUF is actively managed, while BALT is passively managed. Over the past year, IBUF returned 11.79% vs 6.95% for BALT. A 0.54 correlation means they provide meaningful diversification when combined. IBUF charges 0.85%/yr vs 0.69%/yr for BALT.

Performance

IBUF vs. BALT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator International Developed 10 Buffer ETF - Quarterly (IBUF) 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, IBUF achieves a 5.20% return, which is significantly higher than BALT's 1.91% return.

IBUF

• 1D: -0.53%
• 1M: 1.77%
• YTD: 5.20%
• 6M: 6.89%
• 1Y: 11.79%
• 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)

IBUF vs. BALT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IBUF Innovator International Developed 10 Buffer ETF - Quarterly	5.20%	13.54%	2.77%
BALT Innovator Defined Wealth Shield ETF	1.91%	6.65%	4.42%

Correlation

The correlation between IBUF and BALT is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (All Time) Calculated using the full available price history since Jul 2, 2024	0.54

The correlation between IBUF and BALT has been stable across timeframes, ranging from 0.49 to 0.54 - a consistent structural relationship.

IBUF vs. BALT - Sectors Allocation Comparison

Sectors	IBUF	BALT
Financial Services	24.7%	11.9%
Industrials	19.8%	8.1%
Healthcare	10.6%	8.4%
Technology	10.3%	36.2%
Consumer Cyclical	7.7%	10.1%
Consumer Defensive	6.7%	4.9%
Basic Materials	5.9%	1.8%
Communication Services	4.5%	10.9%
Energy	4.0%	3.5%
Utilities	4.0%	2.3%
Real Estate	1.9%	1.9%

Return for Risk

IBUF vs. BALT — Risk / Return Rank

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

IBUF

IBUF Risk / Return Rank: 80
IBUF Sharpe Ratio Rank: 67
IBUF Sortino Ratio Rank: 79
IBUF Omega Ratio Rank: 76
IBUF Calmar Ratio Rank: 90
IBUF Martin Ratio Rank: 88

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.

IBUF vs. BALT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator International Developed 10 Buffer ETF - Quarterly (IBUF) 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.

	IBUF	BALT	Difference
Sharpe ratio: Return per unit of total volatility	2.19	3.19	-0.99
Sortino ratio: Return per unit of downside risk	3.53	4.88	-1.35
Omega ratio: Gain probability vs. loss probability	1.45	1.67	-0.23
Calmar ratio: Return relative to maximum drawdown	5.46	6.05	-0.59
Martin ratio: Return relative to average drawdown	19.40	22.58	-3.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBUF vs. BALT - Sharpe Ratio Comparison

The current IBUF Sharpe Ratio is 2.19, which is lower than the BALT Sharpe Ratio of 3.19. The chart below compares the historical Sharpe Ratios of IBUF 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.

Sharpe Ratios by Period

	IBUF	BALT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.19	3.19	-0.99
Sharpe Ratio (All Time) Calculated using the full available price history	1.73	1.80	-0.06

Drawdowns

IBUF vs. BALT - Drawdown Comparison

The maximum IBUF drawdown since its inception was -5.92%, which is greater than BALT's maximum drawdown of -4.89%. Use the drawdown chart below to compare losses from any high point for IBUF and BALT.

Drawdown Indicators

	IBUF	BALT	Difference
Max Drawdown Largest peak-to-trough decline	-5.92%	-4.89%	-1.03%
Max Drawdown (1Y) Largest decline over 1 year	-2.17%	-1.15%	-1.02%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.89%	—
Current Drawdown Current decline from peak	-0.53%	-0.06%	-0.47%
Average Drawdown Average peak-to-trough decline	-0.47%	-0.34%	-0.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.61%	0.31%	+0.30%

Volatility

IBUF vs. BALT - Volatility Comparison

Innovator International Developed 10 Buffer ETF - Quarterly (IBUF) has a higher volatility of 2.44% compared to Innovator Defined Wealth Shield ETF (BALT) at 0.37%. This indicates that IBUF'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.

Volatility by Period

	IBUF	BALT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.44%	0.37%	+2.07%
Volatility (6M) Calculated over the trailing 6-month period	4.60%	1.56%	+3.04%
Volatility (1Y) Calculated over the trailing 1-year period	5.40%	2.19%	+3.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.53%	3.32%	+3.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.53%	3.32%	+3.21%

IBUF vs. BALT - Expense Ratio Comparison

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

Dividends

IBUF vs. BALT - Dividend Comparison

Neither IBUF nor BALT has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IBUF and BALT in my portfolio?

IBUF and BALT have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBUF or BALT?

IBUF has higher volatility (2.44%) compared to BALT (0.37%). In terms of maximum drawdown, IBUF dropped -5.92% vs BALT's -4.89%.

Which ETF is better, IBUF or BALT?

On 1-year performance, IBUF leads with 11.79% vs 6.95% for BALT. On fees, BALT is cheaper at 0.69% per year. On volatility, BALT has been the lower-risk option at 0.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBUF or BALT?

Over the 1-year period, IBUF has performed better with a 11.79% return vs 6.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBUF or BALT?

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

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

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

What is the main difference between IBUF and BALT?

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

Which has better risk-adjusted returns?

BALT currently has the higher Sharpe Ratio (3.19 vs 2.19), 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.