IGTR vs. FXAIX

Last updated Jun 4, 2026

IGTR (Innovator Gradient Tactical Rotation Strategy ETF) and FXAIX (Fidelity 500 Index Fund) are both funds - IGTR is a Global Equities fund actively managed by Innovator, while FXAIX is a S&P 500 fund tracking the S&P 500 Index. IGTR is actively managed, while FXAIX is passively managed. Over the past 3 years, IGTR returned 17.59%/yr vs 22.75%/yr for FXAIX. A 0.78 correlation means they provide meaningful diversification when combined. IGTR charges 0.80%/yr vs 0.02%/yr for FXAIX.

Performance

IGTR vs. FXAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Gradient Tactical Rotation Strategy ETF (IGTR) and Fidelity 500 Index Fund (FXAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IGTR achieves a 21.49% return, which is significantly higher than FXAIX's 11.71% return.

IGTR

• 1D: -0.47%
• 1M: 13.18%
• YTD: 21.49%
• 6M: 24.80%
• 1Y: 43.30%
• 3Y*: 17.59%
• 5Y*: —
• 10Y*: —

FXAIX

• 1D: 0.13%
• 1M: 5.80%
• YTD: 11.71%
• 6M: 11.74%
• 1Y: 28.99%
• 3Y*: 22.75%
• 5Y*: 14.28%
• 10Y*: 15.66%

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

IGTR vs. FXAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IGTR Innovator Gradient Tactical Rotation Strategy ETF	21.49%	15.25%	4.02%	-0.31%	-2.08%
FXAIX Fidelity 500 Index Fund	11.71%	17.84%	25.01%	26.29%	-2.52%

Correlation

The correlation between IGTR and FXAIX is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (All Time) Calculated using the full available price history since Nov 18, 2022	0.78

The correlation between IGTR and FXAIX has been stable across timeframes, ranging from 0.78 to 0.80 - a consistent structural relationship.

Return for Risk

IGTR vs. FXAIX — Risk / Return Rank

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

IGTR

IGTR Risk / Return Rank: 71
IGTR Sharpe Ratio Rank: 70
IGTR Sortino Ratio Rank: 66
IGTR Omega Ratio Rank: 66
IGTR Calmar Ratio Rank: 77
IGTR Martin Ratio Rank: 74

FXAIX

FXAIX Risk / Return Rank: 73
FXAIX Sharpe Ratio Rank: 76
FXAIX Sortino Ratio Rank: 67
FXAIX Omega Ratio Rank: 67
FXAIX Calmar Ratio Rank: 74
FXAIX Martin Ratio Rank: 83

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.

IGTR vs. FXAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Gradient Tactical Rotation Strategy ETF (IGTR) and Fidelity 500 Index Fund (FXAIX). 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.

	IGTR	FXAIX	Difference
Sharpe ratio: Return per unit of total volatility	2.25	2.52	-0.27
Sortino ratio: Return per unit of downside risk	3.00	3.42	-0.42
Omega ratio: Gain probability vs. loss probability	1.39	1.46	-0.06
Calmar ratio: Return relative to maximum drawdown	3.89	3.36	+0.53
Martin ratio: Return relative to average drawdown	13.97	15.70	-1.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IGTR vs. FXAIX - Sharpe Ratio Comparison

The current IGTR Sharpe Ratio is 2.25, which is comparable to the FXAIX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of IGTR and FXAIX, 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

	IGTR	FXAIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.25	2.52	-0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.85	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.82	-0.20

Drawdowns

IGTR vs. FXAIX - Drawdown Comparison

The maximum IGTR drawdown since its inception was -20.06%, smaller than the maximum FXAIX drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for IGTR and FXAIX.

Drawdown Indicators

	IGTR	FXAIX	Difference
Max Drawdown Largest peak-to-trough decline	-20.06%	-33.79%	+13.73%
Max Drawdown (1Y) Largest decline over 1 year	-11.18%	-8.89%	-2.29%
Max Drawdown (3Y) Largest decline over 3 years	-20.06%	-18.76%	-1.30%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.50%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.79%	—
Current Drawdown Current decline from peak	-0.47%	0.00%	-0.47%
Average Drawdown Average peak-to-trough decline	-6.97%	-3.79%	-3.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.11%	1.90%	+1.21%

Volatility

IGTR vs. FXAIX - Volatility Comparison

Innovator Gradient Tactical Rotation Strategy ETF (IGTR) has a higher volatility of 7.29% compared to Fidelity 500 Index Fund (FXAIX) at 2.83%. This indicates that IGTR's price experiences larger fluctuations and is considered to be riskier than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IGTR	FXAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.29%	2.83%	+4.46%
Volatility (6M) Calculated over the trailing 6-month period	13.97%	8.97%	+5.00%
Volatility (1Y) Calculated over the trailing 1-year period	19.32%	11.86%	+7.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.82%	16.91%	-0.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.82%	18.07%	-1.25%

IGTR vs. FXAIX - Expense Ratio Comparison

IGTR has a 0.80% expense ratio, which is higher than FXAIX's 0.02% expense ratio.

Dividends

IGTR vs. FXAIX - Dividend Comparison

IGTR's dividend yield for the trailing twelve months is around 0.66%, less than FXAIX's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXAIX Fidelity 500 Index Fund	1.03%	1.11%	1.25%	1.45%	1.69%	1.22%	1.60%	2.06%	2.72%	1.97%	2.52%	2.83%
IGTR Innovator Gradient Tactical Rotation Strategy ETF	0.66%	0.80%	2.40%	0.87%	0.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IGTR and FXAIX in my portfolio?

IGTR and FXAIX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IGTR or FXAIX?

IGTR has higher volatility (7.29%) compared to FXAIX (2.83%). In terms of maximum drawdown, IGTR dropped -20.06% vs FXAIX's -33.79%.

Which has better risk-adjusted returns?

FXAIX currently has the higher Sharpe Ratio (2.52 vs 2.25), 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.