JULH vs. APRJ

Last updated Jun 23, 2026

JULH (Innovator Premium Income 20 Barrier ETF - July) and APRJ (Innovator Premium Income 30 Barrier ETF - April) are both Options Trading funds from Innovator. Both are actively managed. Over the past year, JULH returned 5.09% vs 6.94% for APRJ. At a 0.46 correlation, their price movements are largely independent. Both charge a 0.79% expense ratio.

Performance

JULH vs. APRJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Premium Income 20 Barrier ETF - July (JULH) and Innovator Premium Income 30 Barrier ETF - April (APRJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JULH achieves a 2.40% return, which is significantly lower than APRJ's 3.32% return.

JULH

• 1D: 0.02%
• 1M: 0.26%
• YTD: 2.40%
• 6M: 0.84%
• 1Y: 5.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

APRJ

• 1D: 0.08%
• 1M: 0.26%
• YTD: 3.32%
• 6M: 3.49%
• 1Y: 6.94%
• 3Y*: 6.21%
• 5Y*: —
• 10Y*: —

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

JULH vs. APRJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JULH Innovator Premium Income 20 Barrier ETF - July	2.40%	5.39%	6.93%	4.51%
APRJ Innovator Premium Income 30 Barrier ETF - April	3.32%	5.71%	6.24%	2.86%

Correlation

The correlation between JULH and APRJ is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (All Time) Calculated using the full available price history since Jul 3, 2023	0.46

Return for Risk

JULH vs. APRJ — Risk / Return Rank

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

JULH

JULH Risk / Return Rank: 59
JULH Sharpe Ratio Rank: 56
JULH Sortino Ratio Rank: 49
JULH Omega Ratio Rank: 82
JULH Calmar Ratio Rank: 62
JULH Martin Ratio Rank: 46

APRJ

APRJ Risk / Return Rank: 98
APRJ Sharpe Ratio Rank: 97
APRJ Sortino Ratio Rank: 98
APRJ Omega Ratio Rank: 98
APRJ Calmar Ratio Rank: 98
APRJ Martin Ratio Rank: 99

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.

JULH vs. APRJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Premium Income 20 Barrier ETF - July (JULH) and Innovator Premium Income 30 Barrier ETF - April (APRJ). 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.

	JULH	APRJ	Difference
Sharpe ratio: Return per unit of total volatility	1.83	4.50	-2.67
Sortino ratio: Return per unit of downside risk	2.33	8.53	-6.20
Omega ratio: Gain probability vs. loss probability	1.47	2.17	-0.70
Calmar ratio: Return relative to maximum drawdown	2.97	17.52	-14.56
Martin ratio: Return relative to average drawdown	7.51	89.55	-82.04

JULH vs. APRJ - Sharpe Ratio Comparison

The current JULH Sharpe Ratio is 1.83, which is lower than the APRJ Sharpe Ratio of 4.50. The chart below compares the historical Sharpe Ratios of JULH and APRJ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JULH vs. APRJ - Drawdown Comparison

The maximum JULH drawdown since its inception was -5.51%, which is greater than APRJ's maximum drawdown of -4.68%. Use the drawdown chart below to compare losses from any high point for JULH and APRJ.

Drawdown Indicators

	JULH	APRJ	Difference
Max Drawdown Largest peak-to-trough decline	-5.51%	-4.68%	-0.83%
Max Drawdown (1Y) Largest decline over 1 year	-1.72%	-0.40%	-1.32%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.68%	—
Current Drawdown Current decline from peak	0.00%	-0.10%	+0.10%
Average Drawdown Average peak-to-trough decline	-0.27%	-0.12%	-0.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.68%	0.08%	+0.60%

Volatility

JULH vs. APRJ - Volatility Comparison

The current volatility for Innovator Premium Income 20 Barrier ETF - July (JULH) is 0.09%, while Innovator Premium Income 30 Barrier ETF - April (APRJ) has a volatility of 0.74%. This indicates that JULH experiences smaller price fluctuations and is considered to be less risky than APRJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JULH	APRJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.09%	0.74%	-0.65%
Volatility (6M) Calculated over the trailing 6-month period	2.24%	1.27%	+0.97%
Volatility (1Y) Calculated over the trailing 1-year period	2.80%	1.55%	+1.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.72%	3.62%	+1.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.72%	3.62%	+1.10%

JULH vs. APRJ - Expense Ratio Comparison

Both JULH and APRJ have an expense ratio of 0.79%.

Dividends

JULH vs. APRJ - Dividend Comparison

JULH's dividend yield for the trailing twelve months is around 5.27%, which matches APRJ's 5.26% yield.

Position	TTM	2025	2024	2023
APRJ Innovator Premium Income 30 Barrier ETF - April	5.26%	5.46%	5.88%	4.88%
JULH Innovator Premium Income 20 Barrier ETF - July	5.27%	5.31%	6.89%	3.67%

Frequently Asked Questions

Can I hold both JULH and APRJ in my portfolio?

JULH and APRJ have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JULH or APRJ?

APRJ has higher volatility (0.74%) compared to JULH (0.09%). In terms of maximum drawdown, JULH dropped -5.51% vs APRJ's -4.68%.

Which ETF is better, JULH or APRJ?

On 1-year performance, APRJ leads with 6.94% vs 5.09% for JULH. Both ETFs have the same 0.79% expense ratio. On volatility, JULH has been the lower-risk option at 0.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JULH or APRJ?

Over the 1-year period, APRJ has performed better with a 6.94% return vs 5.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JULH or APRJ?

JULH and APRJ have the same expense ratio: 0.79% per year.

Which ETF pays a higher dividend yield, JULH or APRJ?

JULH and APRJ have nearly identical dividend yields, around 5.27%.

Which has better risk-adjusted returns?

APRJ currently has the higher Sharpe Ratio (4.50 vs 1.83), 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.