IJAN vs. DFAI

Last updated Jun 5, 2026

IJAN (Innovator International Developed Power Buffer ETF - January) and DFAI (Dimensional International Core Equity Market ETF) are both exchange-traded funds - IJAN is a Defined Outcome fund actively managed by Innovator, while DFAI is a Foreign Large Cap Equities fund actively managed by Dimensional. Both are actively managed. Over the past 5 years, IJAN returned 7.18%/yr vs 9.55%/yr for DFAI. Their correlation of 0.92 suggests significant overlap in exposure. IJAN charges 0.85%/yr vs 0.18%/yr for DFAI.

Performance

IJAN vs. DFAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator International Developed Power Buffer ETF - January (IJAN) and Dimensional International Core Equity Market ETF (DFAI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IJAN achieves a 4.67% return, which is significantly lower than DFAI's 10.08% return.

IJAN

• 1D: 0.22%
• 1M: 1.35%
• YTD: 4.67%
• 6M: 5.64%
• 1Y: 11.91%
• 3Y*: 9.66%
• 5Y*: 7.18%
• 10Y*: —

DFAI

• 1D: 0.84%
• 1M: 2.35%
• YTD: 10.08%
• 6M: 12.41%
• 1Y: 25.22%
• 3Y*: 18.70%
• 5Y*: 9.55%
• 10Y*: —

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

IJAN vs. DFAI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
IJAN Innovator International Developed Power Buffer ETF - January	4.67%	19.62%	-0.57%	13.82%	-2.52%	7.28%	2.92%
DFAI Dimensional International Core Equity Market ETF	10.08%	34.04%	4.68%	17.60%	-12.95%	13.86%	6.13%

Correlation

The correlation between IJAN and DFAI is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Nov 19, 2020	0.92

The correlation between IJAN and DFAI has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.

IJAN vs. DFAI - Sectors Allocation Comparison

Sectors	IJAN	DFAI
Financial Services	24.7%	22.5%
Industrials	19.8%	19.5%
Healthcare	10.6%	8.8%
Technology	10.3%	9.3%
Consumer Cyclical	7.7%	8.6%
Consumer Defensive	6.7%	6.4%
Basic Materials	5.9%	8.8%
Communication Services	4.5%	3.7%
Energy	4.0%	6.8%
Utilities	4.0%	4.0%
Real Estate	1.9%	1.5%

Return for Risk

IJAN vs. DFAI — Risk / Return Rank

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

IJAN

IJAN Risk / Return Rank: 48
IJAN Sharpe Ratio Rank: 48
IJAN Sortino Ratio Rank: 47
IJAN Omega Ratio Rank: 55
IJAN Calmar Ratio Rank: 40
IJAN Martin Ratio Rank: 50

DFAI

DFAI Risk / Return Rank: 52
DFAI Sharpe Ratio Rank: 54
DFAI Sortino Ratio Rank: 53
DFAI Omega Ratio Rank: 53
DFAI Calmar Ratio Rank: 47
DFAI 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.

IJAN vs. DFAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator International Developed Power Buffer ETF - January (IJAN) and Dimensional International Core Equity Market ETF (DFAI). 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.

	IJAN	DFAI	Difference
Sharpe ratio: Return per unit of total volatility	1.64	1.80	-0.17
Sortino ratio: Return per unit of downside risk	2.32	2.54	-0.22
Omega ratio: Gain probability vs. loss probability	1.33	1.32	+0.01
Calmar ratio: Return relative to maximum drawdown	1.95	2.31	-0.37
Martin ratio: Return relative to average drawdown	8.25	9.08	-0.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IJAN vs. DFAI - Sharpe Ratio Comparison

The current IJAN Sharpe Ratio is 1.64, which is comparable to the DFAI Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of IJAN and DFAI, 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

	IJAN	DFAI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.64	1.80	-0.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	0.60	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.79	-0.24

Drawdowns

IJAN vs. DFAI - Drawdown Comparison

The maximum IJAN drawdown since its inception was -22.68%, smaller than the maximum DFAI drawdown of -27.44%. Use the drawdown chart below to compare losses from any high point for IJAN and DFAI.

Drawdown Indicators

	IJAN	DFAI	Difference
Max Drawdown Largest peak-to-trough decline	-22.68%	-27.44%	+4.76%
Max Drawdown (1Y) Largest decline over 1 year	-6.14%	-10.95%	+4.81%
Max Drawdown (3Y) Largest decline over 3 years	-10.30%	-13.25%	+2.95%
Max Drawdown (5Y) Largest decline over 5 years	-16.71%	-27.44%	+10.73%
Current Drawdown Current decline from peak	-0.07%	-0.78%	+0.71%
Average Drawdown Average peak-to-trough decline	-2.95%	-5.12%	+2.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.45%	2.79%	-1.34%

Volatility

IJAN vs. DFAI - Volatility Comparison

The current volatility for Innovator International Developed Power Buffer ETF - January (IJAN) is 2.12%, while Dimensional International Core Equity Market ETF (DFAI) has a volatility of 4.39%. This indicates that IJAN experiences smaller price fluctuations and is considered to be less risky than DFAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IJAN	DFAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.12%	4.39%	-2.27%
Volatility (6M) Calculated over the trailing 6-month period	6.44%	11.71%	-5.27%
Volatility (1Y) Calculated over the trailing 1-year period	7.32%	14.07%	-6.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.29%	15.92%	-5.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.50%	15.70%	-3.20%

IJAN vs. DFAI - Expense Ratio Comparison

IJAN has a 0.85% expense ratio, which is higher than DFAI's 0.18% expense ratio.

Dividends

IJAN vs. DFAI - Dividend Comparison

IJAN has not paid dividends to shareholders, while DFAI's dividend yield for the trailing twelve months is around 2.24%.

Position	TTM	2025	2024	2023	2022	2021	2020
DFAI Dimensional International Core Equity Market ETF	2.24%	2.45%	2.72%	2.64%	2.72%	2.06%	0.09%
IJAN Innovator International Developed Power Buffer ETF - January	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IJAN and DFAI in my portfolio?

IJAN and DFAI have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IJAN or DFAI?

DFAI has higher volatility (4.39%) compared to IJAN (2.12%). In terms of maximum drawdown, IJAN dropped -22.68% vs DFAI's -27.44%.

Which ETF is better, IJAN or DFAI?

On 5-year performance, DFAI leads with 9.55% vs 7.18% for IJAN. On fees, DFAI is cheaper at 0.18% per year. On volatility, IJAN has been the lower-risk option at 2.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IJAN or DFAI?

Over the 5-year period, DFAI has performed better with a 9.55% return vs 7.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IJAN or DFAI?

DFAI is cheaper with a 0.18% expense ratio, compared with 0.85% for IJAN.

Which ETF pays a higher dividend yield, IJAN or DFAI?

DFAI has the higher dividend yield at 2.24%, compared with 0.00% for IJAN.

What is the main difference between IJAN and DFAI?

IJAN is categorized as Defined Outcome, while DFAI is Foreign Large Cap Equities. They also come from different issuers: Innovator and Dimensional. Their fees differ too: 0.85% for IJAN and 0.18% for DFAI.

Which has better risk-adjusted returns?

DFAI currently has the higher Sharpe Ratio (1.80 vs 1.64), 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.