IGTR vs. IMFL

Last updated Jun 24, 2026

IGTR (Innovator Gradient Tactical Rotation Strategy ETF) and IMFL (Invesco International Developed Dynamic Multifactor ETF) are both Global Equities funds. IGTR is actively managed, while IMFL is passively managed. Over the past 3 years, IGTR returned 16.10%/yr vs 16.29%/yr for IMFL. A 0.70 correlation means they provide meaningful diversification when combined. IGTR charges 0.80%/yr vs 0.34%/yr for IMFL.

Performance

IGTR vs. IMFL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Gradient Tactical Rotation Strategy ETF (IGTR) and Invesco International Developed Dynamic Multifactor ETF (IMFL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IGTR achieves a 18.74% return, which is significantly higher than IMFL's 14.49% return.

IGTR

• 1D: -8.46%
• 1M: 4.92%
• YTD: 18.74%
• 6M: 18.36%
• 1Y: 40.84%
• 3Y*: 16.10%
• 5Y*: —
• 10Y*: —

IMFL

• 1D: -2.84%
• 1M: -0.86%
• YTD: 14.49%
• 6M: 14.56%
• 1Y: 29.53%
• 3Y*: 16.29%
• 5Y*: 8.35%
• 10Y*: —

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

IGTR vs. IMFL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IGTR Innovator Gradient Tactical Rotation Strategy ETF	18.74%	15.25%	4.02%	-0.31%	-2.18%
IMFL Invesco International Developed Dynamic Multifactor ETF	14.49%	30.89%	-3.57%	25.51%	3.99%

Correlation

The correlation between IGTR and IMFL is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (All Time) Calculated using the full available price history since Nov 17, 2022	0.70

The correlation between IGTR and IMFL has been stable across timeframes, ranging from 0.70 to 0.80 - a consistent structural relationship.

IGTR vs. IMFL - Sectors Allocation Comparison

Sectors	IGTR	IMFL
Technology	46.5%	17.6%
Industrials	14.9%	17.2%
Consumer Cyclical	12.8%	7.6%
Financial Services	12.5%	10.9%
Healthcare	5.0%	11.8%
Communication Services	2.6%	3.3%
Basic Materials	2.4%	5.3%
Utilities	2.4%	3.7%
Energy	1.7%	5.3%
Consumer Defensive	0.9%	11.3%
Real Estate	0.4%	1.4%

Return for Risk

IGTR vs. IMFL — Risk / Return Rank

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

IGTR

IGTR Risk / Return Rank: 59
IGTR Sharpe Ratio Rank: 50
IGTR Sortino Ratio Rank: 45
IGTR Omega Ratio Rank: 57
IGTR Calmar Ratio Rank: 74
IGTR Martin Ratio Rank: 71

IMFL

IMFL Risk / Return Rank: 55
IMFL Sharpe Ratio Rank: 57
IMFL Sortino Ratio Rank: 54
IMFL Omega Ratio Rank: 54
IMFL Calmar Ratio Rank: 55
IMFL Martin Ratio Rank: 54

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. IMFL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Gradient Tactical Rotation Strategy ETF (IGTR) and Invesco International Developed Dynamic Multifactor ETF (IMFL). 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.

	IGTR	IMFL	Difference
Sharpe ratio: Return per unit of total volatility	1.58	1.77	-0.19
Sortino ratio: Return per unit of downside risk	2.08	2.42	-0.34
Omega ratio: Gain probability vs. loss probability	1.32	1.32	+0.01
Calmar ratio: Return relative to maximum drawdown	3.46	2.52	+0.94
Martin ratio: Return relative to average drawdown	11.95	8.82	+3.13

IGTR vs. IMFL - Sharpe Ratio Comparison

The current IGTR Sharpe Ratio is 1.58, which is comparable to the IMFL Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of IGTR and IMFL, 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

IGTR vs. IMFL - Drawdown Comparison

The maximum IGTR drawdown since its inception was -20.06%, smaller than the maximum IMFL drawdown of -33.26%. Use the drawdown chart below to compare losses from any high point for IGTR and IMFL.

Drawdown Indicators

	IGTR	IMFL	Difference
Max Drawdown Largest peak-to-trough decline	-20.06%	-33.26%	+13.20%
Max Drawdown (1Y) Largest decline over 1 year	-11.85%	-11.77%	-0.08%
Max Drawdown (3Y) Largest decline over 3 years	-20.06%	-13.52%	-6.54%
Max Drawdown (5Y) Largest decline over 5 years	—	-33.26%	—
Current Drawdown Current decline from peak	-8.46%	-3.35%	-5.11%
Average Drawdown Average peak-to-trough decline	-6.93%	-7.19%	+0.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.43%	3.36%	+0.07%

Volatility

IGTR vs. IMFL - Volatility Comparison

Innovator Gradient Tactical Rotation Strategy ETF (IGTR) has a higher volatility of 18.48% compared to Invesco International Developed Dynamic Multifactor ETF (IMFL) at 6.64%. This indicates that IGTR's price experiences larger fluctuations and is considered to be riskier than IMFL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IGTR	IMFL	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.48%	6.64%	+11.84%
Volatility (6M) Calculated over the trailing 6-month period	22.47%	14.32%	+8.15%
Volatility (1Y) Calculated over the trailing 1-year period	25.92%	16.75%	+9.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.06%	16.24%	+2.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.06%	16.13%	+2.93%

IGTR vs. IMFL - Expense Ratio Comparison

IGTR has a 0.80% expense ratio, which is higher than IMFL's 0.34% expense ratio.

Dividends

IGTR vs. IMFL - Dividend Comparison

IGTR's dividend yield for the trailing twelve months is around 0.67%, less than IMFL's 2.96% yield.

Position	TTM	2025	2024	2023	2022	2021
IGTR Innovator Gradient Tactical Rotation Strategy ETF	0.67%	0.80%	2.40%	0.87%	0.31%	0.00%
IMFL Invesco International Developed Dynamic Multifactor ETF	2.96%	2.88%	3.56%	3.85%	3.35%	3.94%

Frequently Asked Questions

Can I hold both IGTR and IMFL in my portfolio?

IGTR and IMFL 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 IMFL?

IGTR has higher volatility (18.48%) compared to IMFL (6.64%). In terms of maximum drawdown, IGTR dropped -20.06% vs IMFL's -33.26%.

Which ETF is better, IGTR or IMFL?

On 3-year performance, IMFL leads with 16.29% vs 16.10% for IGTR. On fees, IMFL is cheaper at 0.34% per year. On volatility, IMFL has been the lower-risk option at 6.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IGTR or IMFL?

Over the 3-year period, IMFL has performed better with a 16.29% return vs 16.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IGTR or IMFL?

IMFL is cheaper with a 0.34% expense ratio, compared with 0.80% for IGTR.

Which ETF pays a higher dividend yield, IGTR or IMFL?

IMFL has the higher dividend yield at 2.96%, compared with 0.67% for IGTR.

What is the main difference between IGTR and IMFL?

They also come from different issuers: Innovator and Invesco. Their fees differ too: 0.80% for IGTR and 0.34% for IMFL.

Which has better risk-adjusted returns?

IMFL currently has the higher Sharpe Ratio (1.77 vs 1.58), 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.