JULJ vs. BALT

Last updated Jun 4, 2026

JULJ (Innovator Premium Income 30 Barrier ETF - July) and BALT (Innovator Defined Wealth Shield ETF) are both exchange-traded funds - JULJ is a Options Trading fund actively managed by Innovator, while BALT is a Defined Outcome fund tracking the S&P 500. JULJ is actively managed, while BALT is passively managed. Over the past year, JULJ returned 5.56% vs 6.95% for BALT. A 0.61 correlation means they provide meaningful diversification when combined. JULJ charges 0.79%/yr vs 0.69%/yr for BALT.

Performance

JULJ vs. BALT - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with JULJ having a 1.82% return and BALT slightly higher at 1.91%.

JULJ

• 1D: -0.02%
• 1M: 0.28%
• YTD: 1.82%
• 6M: 2.32%
• 1Y: 5.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BALT

• 1D: -0.06%
• 1M: 0.53%
• YTD: 1.91%
• 6M: 2.81%
• 1Y: 6.95%
• 3Y*: 7.27%
• 5Y*: —
• 10Y*: —

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

JULJ vs. BALT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JULJ Innovator Premium Income 30 Barrier ETF - July	1.82%	5.91%	6.17%	3.54%
BALT Innovator Defined Wealth Shield ETF	1.91%	6.65%	9.98%	2.59%

Correlation

The correlation between JULJ and BALT is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.61
Correlation (All Time) Calculated using the full available price history since Jul 5, 2023	0.61

The correlation between JULJ and BALT has been stable across timeframes, ranging from 0.61 to 0.61 - a consistent structural relationship.

JULJ vs. BALT - Sectors Allocation Comparison

Sectors	JULJ	BALT
Technology	33.6%	36.2%
Financial Services	12.4%	11.9%
Communication Services	10.5%	10.9%
Consumer Cyclical	10.0%	10.1%
Healthcare	9.5%	8.4%
Industrials	8.5%	8.1%
Consumer Defensive	5.3%	4.9%
Energy	4.0%	3.5%
Utilities	2.5%	2.3%
Real Estate	2.0%	1.9%
Basic Materials	1.9%	1.8%

Return for Risk

JULJ vs. BALT — Risk / Return Rank

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

JULJ

JULJ Risk / Return Rank: 96
JULJ Sharpe Ratio Rank: 94
JULJ Sortino Ratio Rank: 97
JULJ Omega Ratio Rank: 97
JULJ Calmar Ratio Rank: 96
JULJ Martin Ratio Rank: 97

BALT

BALT Risk / Return Rank: 92
BALT Sharpe Ratio Rank: 90
BALT Sortino Ratio Rank: 94
BALT Omega Ratio Rank: 93
BALT Calmar Ratio Rank: 91
BALT Martin Ratio Rank: 91

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.

JULJ vs. BALT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Premium Income 30 Barrier ETF - July (JULJ) and Innovator Defined Wealth Shield ETF (BALT). 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.

	JULJ	BALT	Difference
Sharpe ratio: Return per unit of total volatility	3.62	3.19	+0.44
Sortino ratio: Return per unit of downside risk	6.05	4.88	+1.17
Omega ratio: Gain probability vs. loss probability	1.88	1.67	+0.20
Calmar ratio: Return relative to maximum drawdown	9.21	6.05	+3.15
Martin ratio: Return relative to average drawdown	47.78	22.58	+25.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JULJ vs. BALT - Sharpe Ratio Comparison

The current JULJ Sharpe Ratio is 3.62, which is comparable to the BALT Sharpe Ratio of 3.19. The chart below compares the historical Sharpe Ratios of JULJ and BALT, 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

	JULJ	BALT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.62	3.19	+0.44
Sharpe Ratio (All Time) Calculated using the full available price history	1.96	1.80	+0.16

Drawdowns

JULJ vs. BALT - Drawdown Comparison

The maximum JULJ drawdown since its inception was -3.62%, smaller than the maximum BALT drawdown of -4.89%. Use the drawdown chart below to compare losses from any high point for JULJ and BALT.

Drawdown Indicators

	JULJ	BALT	Difference
Max Drawdown Largest peak-to-trough decline	-3.62%	-4.89%	+1.27%
Max Drawdown (1Y) Largest decline over 1 year	-0.61%	-1.15%	+0.54%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.89%	—
Current Drawdown Current decline from peak	-0.02%	-0.06%	+0.04%
Average Drawdown Average peak-to-trough decline	-0.10%	-0.34%	+0.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.12%	0.31%	-0.19%

Volatility

JULJ vs. BALT - Volatility Comparison

The current volatility for Innovator Premium Income 30 Barrier ETF - July (JULJ) is 0.17%, while Innovator Defined Wealth Shield ETF (BALT) has a volatility of 0.37%. This indicates that JULJ experiences smaller price fluctuations and is considered to be less risky than BALT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JULJ	BALT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.17%	0.37%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	0.94%	1.56%	-0.62%
Volatility (1Y) Calculated over the trailing 1-year period	1.54%	2.19%	-0.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.08%	3.32%	-0.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.08%	3.32%	-0.24%

JULJ vs. BALT - Expense Ratio Comparison

JULJ has a 0.79% expense ratio, which is higher than BALT's 0.69% expense ratio.

Dividends

JULJ vs. BALT - Dividend Comparison

JULJ's dividend yield for the trailing twelve months is around 5.66%, while BALT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
BALT Innovator Defined Wealth Shield ETF	0.00%	0.00%	0.00%	0.00%
JULJ Innovator Premium Income 30 Barrier ETF - July	5.66%	5.76%	5.96%	3.21%

Frequently Asked Questions

Can I hold both JULJ and BALT in my portfolio?

JULJ and BALT have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JULJ or BALT?

BALT has higher volatility (0.37%) compared to JULJ (0.17%). In terms of maximum drawdown, JULJ dropped -3.62% vs BALT's -4.89%.

Which ETF is better, JULJ or BALT?

On 1-year performance, BALT leads with 6.95% vs 5.56% for JULJ. On fees, BALT is cheaper at 0.69% per year. On volatility, JULJ has been the lower-risk option at 0.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JULJ or BALT?

Over the 1-year period, BALT has performed better with a 6.95% return vs 5.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JULJ or BALT?

BALT is cheaper with a 0.69% expense ratio, compared with 0.79% for JULJ.

Which ETF pays a higher dividend yield, JULJ or BALT?

JULJ has the higher dividend yield at 5.66%, compared with 0.00% for BALT.

What is the main difference between JULJ and BALT?

JULJ is categorized as Options Trading, while BALT is Defined Outcome. Their fees differ too: 0.79% for JULJ and 0.69% for BALT.

Which has better risk-adjusted returns?

JULJ currently has the higher Sharpe Ratio (3.62 vs 3.19), 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.