INOV vs. OCTJ

Last updated Jun 4, 2026

INOV (Innovator International Developed Power Buffer ETF - November) and OCTJ (Innovator Premium Income 30 Barrier ETF - October) are both Options Trading funds from Innovator. Both are actively managed. Over the past year, INOV returned 14.54% vs 5.77% for OCTJ. At a 0.42 correlation, their price movements are largely independent. INOV charges 0.85%/yr vs 0.79%/yr for OCTJ.

Performance

INOV vs. OCTJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator International Developed Power Buffer ETF - November (INOV) and Innovator Premium Income 30 Barrier ETF - October (OCTJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, INOV achieves a 5.40% return, which is significantly higher than OCTJ's 2.30% return.

INOV

• 1D: -0.34%
• 1M: 2.31%
• YTD: 5.40%
• 6M: 7.23%
• 1Y: 14.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

OCTJ

• 1D: -0.00%
• 1M: 0.44%
• YTD: 2.30%
• 6M: 3.00%
• 1Y: 5.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

INOV vs. OCTJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
INOV Innovator International Developed Power Buffer ETF - November	5.40%	20.64%	5.90%	7.73%
OCTJ Innovator Premium Income 30 Barrier ETF - October	2.30%	5.70%	5.32%	2.15%

Correlation

The correlation between INOV and OCTJ is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (All Time) Calculated using the full available price history since Nov 2, 2023	0.42

INOV vs. OCTJ - Sectors Allocation Comparison

Sectors	INOV	OCTJ
Financial Services	24.7%	12.4%
Industrials	19.8%	8.5%
Healthcare	10.6%	9.5%
Technology	10.3%	33.6%
Consumer Cyclical	7.7%	10.0%
Consumer Defensive	6.7%	5.3%
Basic Materials	5.9%	1.9%
Communication Services	4.5%	10.5%
Energy	4.0%	4.0%
Utilities	4.0%	2.5%
Real Estate	1.9%	2.0%

Return for Risk

INOV vs. OCTJ — Risk / Return Rank

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

INOV

INOV Risk / Return Rank: 49
INOV Sharpe Ratio Rank: 49
INOV Sortino Ratio Rank: 50
INOV Omega Ratio Rank: 56
INOV Calmar Ratio Rank: 42
INOV Martin Ratio Rank: 49

OCTJ

OCTJ Risk / Return Rank: 81
OCTJ Sharpe Ratio Rank: 68
OCTJ Sortino Ratio Rank: 78
OCTJ Omega Ratio Rank: 81
OCTJ Calmar Ratio Rank: 85
OCTJ Martin Ratio Rank: 92

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.

INOV vs. OCTJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator International Developed Power Buffer ETF - November (INOV) and Innovator Premium Income 30 Barrier ETF - October (OCTJ). 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.

	INOV	OCTJ	Difference
Sharpe ratio: Return per unit of total volatility	1.68	2.21	-0.53
Sortino ratio: Return per unit of downside risk	2.43	3.46	-1.02
Omega ratio: Gain probability vs. loss probability	1.34	1.48	-0.14
Calmar ratio: Return relative to maximum drawdown	2.02	4.65	-2.63
Martin ratio: Return relative to average drawdown	8.08	23.63	-15.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

INOV vs. OCTJ - Sharpe Ratio Comparison

The current INOV Sharpe Ratio is 1.68, which is comparable to the OCTJ Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of INOV and OCTJ, 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

	INOV	OCTJ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.68	2.21	-0.53
Sharpe Ratio (All Time) Calculated using the full available price history	1.82	1.47	+0.35

Drawdowns

INOV vs. OCTJ - Drawdown Comparison

The maximum INOV drawdown since its inception was -8.01%, which is greater than OCTJ's maximum drawdown of -5.35%. Use the drawdown chart below to compare losses from any high point for INOV and OCTJ.

Drawdown Indicators

	INOV	OCTJ	Difference
Max Drawdown Largest peak-to-trough decline	-8.01%	-5.35%	-2.66%
Max Drawdown (1Y) Largest decline over 1 year	-7.24%	-1.25%	-5.99%
Current Drawdown Current decline from peak	-0.47%	-0.00%	-0.47%
Average Drawdown Average peak-to-trough decline	-0.89%	-0.16%	-0.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.80%	0.24%	+1.56%

Volatility

INOV vs. OCTJ - Volatility Comparison

Innovator International Developed Power Buffer ETF - November (INOV) has a higher volatility of 2.96% compared to Innovator Premium Income 30 Barrier ETF - October (OCTJ) at 0.52%. This indicates that INOV's price experiences larger fluctuations and is considered to be riskier than OCTJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INOV	OCTJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.96%	0.52%	+2.44%
Volatility (6M) Calculated over the trailing 6-month period	7.71%	1.95%	+5.76%
Volatility (1Y) Calculated over the trailing 1-year period	8.69%	2.62%	+6.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.56%	4.22%	+4.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.56%	4.22%	+4.34%

INOV vs. OCTJ - Expense Ratio Comparison

INOV has a 0.85% expense ratio, which is higher than OCTJ's 0.79% expense ratio.

Dividends

INOV vs. OCTJ - Dividend Comparison

INOV has not paid dividends to shareholders, while OCTJ's dividend yield for the trailing twelve months is around 5.20%.

Position	TTM	2025	2024	2023
INOV Innovator International Developed Power Buffer ETF - November	0.00%	0.00%	0.00%	0.00%
OCTJ Innovator Premium Income 30 Barrier ETF - October	5.20%	5.23%	6.27%	1.64%

Frequently Asked Questions

Can I hold both INOV and OCTJ in my portfolio?

INOV and OCTJ have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, INOV or OCTJ?

INOV has higher volatility (2.96%) compared to OCTJ (0.52%). In terms of maximum drawdown, INOV dropped -8.01% vs OCTJ's -5.35%.

Which ETF is better, INOV or OCTJ?

On 1-year performance, INOV leads with 14.54% vs 5.77% for OCTJ. On fees, OCTJ is cheaper at 0.79% per year. On volatility, OCTJ has been the lower-risk option at 0.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, INOV or OCTJ?

Over the 1-year period, INOV has performed better with a 14.54% return vs 5.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, INOV or OCTJ?

OCTJ is cheaper with a 0.79% expense ratio, compared with 0.85% for INOV.

Which ETF pays a higher dividend yield, INOV or OCTJ?

OCTJ has the higher dividend yield at 5.20%, compared with 0.00% for INOV.

What is the main difference between INOV and OCTJ?

Their fees differ too: 0.85% for INOV and 0.79% for OCTJ.

Which has better risk-adjusted returns?

OCTJ currently has the higher Sharpe Ratio (2.21 vs 1.68), 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.