JULT vs. AJAN

Last updated Jun 23, 2026

JULT (AllianzIM U.S. Large Cap Buffer10 Jul ETF) and AJAN (Innovator Equity Defined Protection ETF - 2 Yr To January 2026) are both Options Trading funds. Both are actively managed. Over the past year, JULT returned 18.84% vs 5.56% for AJAN. A 0.77 correlation means they provide meaningful diversification when combined. JULT charges 0.74%/yr vs 0.79%/yr for AJAN.

Performance

JULT vs. AJAN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Large Cap Buffer10 Jul ETF (JULT) and Innovator Equity Defined Protection ETF - 2 Yr To January 2026 (AJAN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JULT achieves a 6.27% return, which is significantly higher than AJAN's 1.79% return.

JULT

• 1D: 0.01%
• 1M: 0.78%
• YTD: 6.27%
• 6M: 6.21%
• 1Y: 18.84%
• 3Y*: 15.61%
• 5Y*: 11.40%
• 10Y*: —

AJAN

• 1D: -0.00%
• 1M: 0.04%
• YTD: 1.79%
• 6M: 1.93%
• 1Y: 5.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JULT vs. AJAN - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JULT AllianzIM U.S. Large Cap Buffer10 Jul ETF	6.27%	13.73%	17.43%
AJAN Innovator Equity Defined Protection ETF - 2 Yr To January 2026	1.79%	6.12%	7.61%

Correlation

The correlation between JULT and AJAN is 0.69, 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	0.69
Correlation (All Time) Calculated using the full available price history since Jan 2, 2024	0.77

The correlation between JULT and AJAN has been stable across timeframes, ranging from 0.69 to 0.77 - a consistent structural relationship.

Return for Risk

JULT vs. AJAN — Risk / Return Rank

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

JULT

JULT Risk / Return Rank: 86
JULT Sharpe Ratio Rank: 87
JULT Sortino Ratio Rank: 90
JULT Omega Ratio Rank: 91
JULT Calmar Ratio Rank: 74
JULT Martin Ratio Rank: 90

AJAN

AJAN Risk / Return Rank: 72
AJAN Sharpe Ratio Rank: 73
AJAN Sortino Ratio Rank: 81
AJAN Omega Ratio Rank: 86
AJAN Calmar Ratio Rank: 52
AJAN Martin Ratio Rank: 68

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.

JULT vs. AJAN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Large Cap Buffer10 Jul ETF (JULT) and Innovator Equity Defined Protection ETF - 2 Yr To January 2026 (AJAN). 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.

	JULT	AJAN	Difference
Sharpe ratio: Return per unit of total volatility	2.71	2.26	+0.45
Sortino ratio: Return per unit of downside risk	3.99	3.45	+0.54
Omega ratio: Gain probability vs. loss probability	1.56	1.50	+0.06
Calmar ratio: Return relative to maximum drawdown	3.62	2.49	+1.13
Martin ratio: Return relative to average drawdown	19.62	12.30	+7.32

JULT vs. AJAN - Sharpe Ratio Comparison

The current JULT Sharpe Ratio is 2.71, which is comparable to the AJAN Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of JULT and AJAN, 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

JULT vs. AJAN - Drawdown Comparison

The maximum JULT drawdown since its inception was -13.57%, which is greater than AJAN's maximum drawdown of -4.11%. Use the drawdown chart below to compare losses from any high point for JULT and AJAN.

Drawdown Indicators

	JULT	AJAN	Difference
Max Drawdown Largest peak-to-trough decline	-13.57%	-4.11%	-9.46%
Max Drawdown (1Y) Largest decline over 1 year	-5.22%	-2.24%	-2.98%
Max Drawdown (3Y) Largest decline over 3 years	-13.57%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-13.57%	—	—
Current Drawdown Current decline from peak	0.00%	-0.33%	+0.33%
Average Drawdown Average peak-to-trough decline	-1.76%	-0.30%	-1.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	0.45%	+0.51%

Volatility

JULT vs. AJAN - Volatility Comparison

The current volatility for AllianzIM U.S. Large Cap Buffer10 Jul ETF (JULT) is 0.96%, while Innovator Equity Defined Protection ETF - 2 Yr To January 2026 (AJAN) has a volatility of 1.10%. This indicates that JULT experiences smaller price fluctuations and is considered to be less risky than AJAN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JULT	AJAN	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.96%	1.10%	-0.14%
Volatility (6M) Calculated over the trailing 6-month period	5.23%	2.29%	+2.94%
Volatility (1Y) Calculated over the trailing 1-year period	6.99%	2.47%	+4.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.02%	3.82%	+7.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.45%	3.82%	+6.63%

JULT vs. AJAN - Expense Ratio Comparison

JULT has a 0.74% expense ratio, which is lower than AJAN's 0.79% expense ratio.

Dividends

JULT vs. AJAN - Dividend Comparison

Neither JULT nor AJAN has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
AJAN Innovator Equity Defined Protection ETF - 2 Yr To January 2026	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
JULT AllianzIM U.S. Large Cap Buffer10 Jul ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.86%

Frequently Asked Questions

Can I hold both JULT and AJAN in my portfolio?

JULT and AJAN have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JULT or AJAN?

AJAN has higher volatility (1.10%) compared to JULT (0.96%). In terms of maximum drawdown, JULT dropped -13.57% vs AJAN's -4.11%.

Which ETF is better, JULT or AJAN?

On 1-year performance, JULT leads with 18.84% vs 5.56% for AJAN. On fees, JULT is cheaper at 0.74% per year. On volatility, JULT has been the lower-risk option at 0.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JULT or AJAN?

Over the 1-year period, JULT has performed better with a 18.84% return vs 5.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JULT or AJAN?

JULT is cheaper with a 0.74% expense ratio, compared with 0.79% for AJAN.

Which ETF pays a higher dividend yield, JULT or AJAN?

JULT and AJAN have nearly identical dividend yields, around 0.00%.

What is the main difference between JULT and AJAN?

They also come from different issuers: Allianz and Innovator. Their fees differ too: 0.74% for JULT and 0.79% for AJAN.

Which has better risk-adjusted returns?

JULT currently has the higher Sharpe Ratio (2.71 vs 2.26), 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.