JOYT vs. SPUT

Last updated Jun 4, 2026

JOYT (JPMorgan Equity And Options Total Return ETF) and SPUT (Innovator Equity Premium Income Daily PutWrite ETF) are both Derivative Income funds. Both are actively managed. Their correlation of 0.84 suggests significant overlap in exposure. JOYT charges 0.35%/yr vs 0.79%/yr for SPUT.

Performance

JOYT vs. SPUT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Equity And Options Total Return ETF (JOYT) and Innovator Equity Premium Income Daily PutWrite ETF (SPUT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JOYT achieves a 5.08% return, which is significantly lower than SPUT's 7.26% return.

JOYT

• 1D: -0.20%
• 1M: 2.91%
• YTD: 5.08%
• 6M: 7.03%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPUT

• 1D: -0.34%
• 1M: 3.05%
• YTD: 7.26%
• 6M: 7.80%
• 1Y: 18.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JOYT vs. SPUT - Yearly Performance Comparison

	2026 (YTD)	2025
JOYT JPMorgan Equity And Options Total Return ETF	5.08%	9.58%
SPUT Innovator Equity Premium Income Daily PutWrite ETF	7.26%	5.69%

Correlation

The correlation between JOYT and SPUT is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 20, 2025	0.84

JOYT vs. SPUT - Sectors Allocation Comparison

Sectors	JOYT	SPUT
Technology	35.9%	35.7%
Financial Services	11.6%	11.1%
Communication Services	10.3%	11.7%
Consumer Cyclical	9.7%	10.2%
Healthcare	8.2%	8.7%
Industrials	6.2%	8.4%
Consumer Defensive	4.6%	4.8%
Energy	3.6%	3.6%
Utilities	3.1%	2.3%
Real Estate	1.6%	1.8%
Basic Materials	0.8%	1.8%

Return for Risk

JOYT vs. SPUT — Risk / Return Rank

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

SPUT

SPUT Risk / Return Rank: 85
SPUT Sharpe Ratio Rank: 81
SPUT Sortino Ratio Rank: 82
SPUT Omega Ratio Rank: 85
SPUT Calmar Ratio Rank: 87
SPUT 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.

JOYT vs. SPUT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Equity And Options Total Return ETF (JOYT) and Innovator Equity Premium Income Daily PutWrite ETF (SPUT). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	JOYT	SPUT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.62	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.10	1.54	+0.56

Drawdowns

JOYT vs. SPUT - Drawdown Comparison

The maximum JOYT drawdown since its inception was -6.99%, smaller than the maximum SPUT drawdown of -10.55%. Use the drawdown chart below to compare losses from any high point for JOYT and SPUT.

Drawdown Indicators

	JOYT	SPUT	Difference
Max Drawdown Largest peak-to-trough decline	-6.99%	-10.55%	+3.56%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.81%	—
Current Drawdown Current decline from peak	-0.20%	-0.34%	+0.14%
Average Drawdown Average peak-to-trough decline	-0.87%	-0.88%	+0.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.83%	—

Volatility

Volatility by Period

	JOYT	SPUT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.50%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.46%	—
Volatility (1Y) Calculated over the trailing 1-year period	9.39%	7.24%	+2.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.39%	11.26%	-1.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.39%	11.26%	-1.87%

JOYT vs. SPUT - Expense Ratio Comparison

JOYT has a 0.35% expense ratio, which is lower than SPUT's 0.79% expense ratio.

Dividends

JOYT vs. SPUT - Dividend Comparison

JOYT's dividend yield for the trailing twelve months is around 0.45%, less than SPUT's 5.03% yield.

Position	TTM	2025
JOYT JPMorgan Equity And Options Total Return ETF	0.45%	0.28%
SPUT Innovator Equity Premium Income Daily PutWrite ETF	5.03%	4.66%

Frequently Asked Questions

Can I hold both JOYT and SPUT in my portfolio?

JOYT and SPUT have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JOYT or SPUT?

On fees, JOYT is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JOYT or SPUT?

JOYT is cheaper with a 0.35% expense ratio, compared with 0.79% for SPUT.

Which ETF pays a higher dividend yield, JOYT or SPUT?

SPUT has the higher dividend yield at 5.03%, compared with 0.45% for JOYT.

What is the main difference between JOYT and SPUT?

They also come from different issuers: JPMorgan and Innovator. Their fees differ too: 0.35% for JOYT and 0.79% for SPUT.