JAJL vs. AIOO

Last updated Apr 4, 2026

Compare and contrast key facts about Innovator Equity Defined Protection ETF - 6 Mo Jan/Jul (JAJL) and AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO).

JAJL and AIOO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. JAJL is an actively managed fund by Innovator. It was launched on Jun 28, 2024. AIOO is an actively managed fund by Allianz. It was launched on Jun 30, 2025.

Performance

JAJL vs. AIOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Equity Defined Protection ETF - 6 Mo Jan/Jul (JAJL) and AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO). The values are adjusted to include any dividend payments, if applicable.

JAJL vs. AIOO - Yearly Performance Comparison

	2026 (YTD)	2025
JAJL Innovator Equity Defined Protection ETF - 6 Mo Jan/Jul	0.07%	3.23%
AIOO AllianzIM U.S. Equity Buffer100 Protection ETF	0.01%	2.67%

Returns By Period

In the year-to-date period, JAJL achieves a 0.07% return, which is significantly higher than AIOO's 0.01% return.

JAJL

• 1D: -0.07%
• 1M: -0.48%
• YTD: 0.07%
• 6M: 1.43%
• 1Y: 7.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AIOO

• 1D: 0.08%
• 1M: -0.21%
• YTD: 0.01%
• 6M: 0.54%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JAJL vs. AIOO - Expense Ratio Comparison

JAJL has a 0.79% expense ratio, which is higher than AIOO's 0.64% expense ratio.

JAJL

Innovator Equity Defined Protection ETF - 6 Mo Jan/Jul

AIOO

AllianzIM U.S. Equity Buffer100 Protection ETF

Return for Risk

JAJL vs. AIOO — Risk / Return Rank

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

JAJL

JAJL Risk / Return Rank: 97
JAJL Sharpe Ratio Rank: 95
JAJL Sortino Ratio Rank: 97
JAJL Omega Ratio Rank: 97
JAJL Calmar Ratio Rank: 98
JAJL Martin Ratio Rank: 98

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.

JAJL vs. AIOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Defined Protection ETF - 6 Mo Jan/Jul (JAJL) and AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO). 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.

	JAJL	AIOO	Difference
Sharpe ratio Return per unit of total volatility	2.55	—	—
Sortino ratio Return per unit of downside risk	4.06	—	—
Omega ratio Gain probability vs. loss probability	1.59	—	—
Calmar ratio Return relative to maximum drawdown	6.93	—	—
Martin ratio Return relative to average drawdown	26.51	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	JAJL	AIOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.55	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.34	1.81	+0.53

Correlation

The correlation between JAJL and AIOO is 0.53, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

JAJL vs. AIOO - Dividend Comparison

Neither JAJL nor AIOO has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

JAJL vs. AIOO - Drawdown Comparison

The maximum JAJL drawdown since its inception was -2.16%, which is greater than AIOO's maximum drawdown of -0.74%. Use the drawdown chart below to compare losses from any high point for JAJL and AIOO.

Drawdown Indicators

	JAJL	AIOO	Difference
Max Drawdown Largest peak-to-trough decline	-2.16%	-0.74%	-1.42%
Max Drawdown (1Y) Largest decline over 1 year	-1.01%	—	—
Current Drawdown Current decline from peak	-0.60%	-0.45%	-0.15%
Average Drawdown Average peak-to-trough decline	-0.30%	-0.19%	-0.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.26%	—	—

Volatility

Volatility by Period

	JAJL	AIOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.65%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.40%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.68%	1.98%	+0.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.74%	1.98%	+0.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.74%	1.98%	+0.76%