IJAN vs. SBIT
IJAN (Innovator International Developed Power Buffer ETF - January) and SBIT (Proshares Ultrashort Bitcoin ETF) are both exchange-traded funds - IJAN is a Defined Outcome fund actively managed by Innovator, while SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). IJAN is actively managed, while SBIT is passively managed. Over the past year, IJAN returned 13.36% vs 98.77% for SBIT. Their -0.34 correlation means they have often moved in opposite directions in the past. IJAN charges 0.85%/yr vs 0.95%/yr for SBIT.
Performance
IJAN vs. SBIT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IJAN achieves a 6.53% return, which is significantly lower than SBIT's 39.44% return.
IJAN
- 1D
- -0.26%
- 1M
- 0.76%
- 6M
- 4.12%
- YTD
- 6.53%
- 1Y
- 13.36%
- 3Y*
- 9.31%
- 5Y*
- 7.51%
- 10Y*
- —
- ALL TIME*
- 7.04%
SBIT
- 1D
- 5.60%
- 1M
- -6.04%
- 6M
- 32.41%
- YTD
- 39.44%
- 1Y
- 98.77%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -42.65%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $399.09K | $615.19K | $488.53K | |
| $29.57M | $32.71M | $46.48M |
IJAN vs. SBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IJAN Innovator International Developed Power Buffer ETF - January | 6.53% | 19.62% | -3.42% |
SBIT Proshares Ultrashort Bitcoin ETF | 39.44% | -25.11% | -73.74% |
Correlation
The correlation between IJAN and SBIT is -0.45, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.45 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024 | -0.34 |
The correlation between IJAN and SBIT shifts across timeframes, from -0.45 (1 year) to -0.34 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IJAN vs. SBIT — Risk / Return Rank
IJAN
SBIT
IJAN vs. SBIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator International Developed Power Buffer ETF - January (IJAN) and Proshares Ultrashort Bitcoin ETF (SBIT). 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.
| IJAN | SBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.50 | ||
| Sortino ratioReturn per unit of downside risk | +0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.23 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.20 | 2.35 | -0.15 |
| Martin ratioReturn relative to average drawdown | 9.36 | 5.19 | +4.18 |
Loading charts...
Drawdowns
IJAN vs. SBIT - Drawdown Comparison
The maximum IJAN drawdown since its inception was -22.68%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for IJAN and SBIT.
Loading charts...
Drawdown Indicators
| IJAN | SBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.68% | -91.35% | +68.67% |
Max Drawdown (1Y)Largest decline over 1 year | -6.14% | -47.94% | +41.80% |
Max Drawdown (3Y)Largest decline over 3 years | -10.30% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -16.71% | — | — |
Current DrawdownCurrent decline from peak | -0.26% | -77.87% | +77.61% |
Average DrawdownAverage peak-to-trough decline | -2.89% | -69.07% | +66.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.44% | 21.67% | -20.23% |
Volatility
IJAN vs. SBIT - Volatility Comparison
The current volatility for Innovator International Developed Power Buffer ETF - January (IJAN) is 2.13%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 18.09%. This indicates that IJAN experiences smaller price fluctuations and is considered to be less risky than SBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IJAN | SBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.13% | 18.09% | -15.96% |
Volatility (6M)Calculated over the trailing 6-month period | 6.99% | 67.10% | -60.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.68% | 88.65% | -80.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.36% | 96.10% | -85.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.42% | 96.10% | -83.68% |
IJAN vs. SBIT - Expense Ratio Comparison
IJAN has a 0.85% expense ratio, which is lower than SBIT's 0.95% expense ratio.
Dividends
IJAN vs. SBIT - Dividend Comparison
IJAN has not paid dividends to shareholders, while SBIT's dividend yield for the trailing twelve months is around 4.10%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
IJAN Innovator International Developed Power Buffer ETF - January | 0.00% | 0.00% | 0.00% |
SBIT Proshares Ultrashort Bitcoin ETF | 4.03% | 0.52% | 1.00% |
Frequently Asked Questions
IJAN and SBIT have a correlation of -0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SBIT has higher volatility (18.09%) compared to IJAN (2.13%). In terms of maximum drawdown, IJAN dropped -22.68% vs SBIT's -91.35%.
On 1-year performance, SBIT leads with 98.77% vs 13.36% for IJAN. On fees, IJAN is cheaper at 0.85% per year. On volatility, IJAN has been the lower-risk option at 2.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SBIT has performed better with a 98.77% return vs 13.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IJAN is cheaper with a 0.85% expense ratio, compared with 0.95% for SBIT.
SBIT has the higher dividend yield at 4.03%, compared with 0.00% for IJAN.
IJAN is categorized as Defined Outcome, while SBIT is Cryptocurrency. They also come from different issuers: Innovator and ProShares. Their fees differ too: 0.85% for IJAN and 0.95% for SBIT.
IJAN currently has the higher Sharpe Ratio (1.77 vs 1.27), 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.
Find the right allocation for IJAN and SBIT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer