JUNW vs. BAPR

Last updated Jun 24, 2026

JUNW (AllianzIM U.S. Equity Buffer20 Jun ETF) and BAPR (Innovator U.S. Equity Buffer ETF - April) are both Defined Outcome funds. JUNW is actively managed, while BAPR is passively managed. Over the past 3 years, JUNW returned 10.11%/yr vs 14.48%/yr for BAPR. Their correlation of 0.89 suggests significant overlap in exposure. JUNW charges 0.74%/yr vs 0.79%/yr for BAPR.

Performance

JUNW vs. BAPR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Equity Buffer20 Jun ETF (JUNW) and Innovator U.S. Equity Buffer ETF - April (BAPR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JUNW achieves a 2.07% return, which is significantly lower than BAPR's 10.04% return.

JUNW

• 1D: -0.58%
• 1M: -0.92%
• YTD: 2.07%
• 6M: 2.08%
• 1Y: 8.26%
• 3Y*: 10.11%
• 5Y*: —
• 10Y*: —

BAPR

• 1D: -0.67%
• 1M: -0.06%
• YTD: 10.04%
• 6M: 10.03%
• 1Y: 18.64%
• 3Y*: 14.48%
• 5Y*: 10.86%
• 10Y*: —

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

JUNW vs. BAPR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JUNW AllianzIM U.S. Equity Buffer20 Jun ETF	2.07%	11.18%	11.12%	7.93%
BAPR Innovator U.S. Equity Buffer ETF - April	10.04%	8.28%	15.95%	12.13%

Correlation

The correlation between JUNW and BAPR 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 (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (All Time) Calculated using the full available price history since Jun 1, 2023	0.89

The correlation between JUNW and BAPR has been stable across timeframes, ranging from 0.84 to 0.89 - a consistent structural relationship.

Return for Risk

JUNW vs. BAPR — Risk / Return Rank

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

JUNW

JUNW Risk / Return Rank: 80
JUNW Sharpe Ratio Rank: 72
JUNW Sortino Ratio Rank: 76
JUNW Omega Ratio Rank: 86
JUNW Calmar Ratio Rank: 76
JUNW Martin Ratio Rank: 90

BAPR

BAPR Risk / Return Rank: 96
BAPR Sharpe Ratio Rank: 93
BAPR Sortino Ratio Rank: 96
BAPR Omega Ratio Rank: 96
BAPR Calmar Ratio Rank: 97
BAPR 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.

JUNW vs. BAPR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Equity Buffer20 Jun ETF (JUNW) and Innovator U.S. Equity Buffer ETF - April (BAPR). 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.

	JUNW	BAPR	Difference
Sharpe ratio: Return per unit of total volatility	2.09	3.24	-1.15
Sortino ratio: Return per unit of downside risk	3.07	5.31	-2.24
Omega ratio: Gain probability vs. loss probability	1.47	1.76	-0.29
Calmar ratio: Return relative to maximum drawdown	3.60	9.69	-6.09
Martin ratio: Return relative to average drawdown	18.86	47.41	-28.56

JUNW vs. BAPR - Sharpe Ratio Comparison

The current JUNW Sharpe Ratio is 2.09, which is lower than the BAPR Sharpe Ratio of 3.24. The chart below compares the historical Sharpe Ratios of JUNW and BAPR, 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

JUNW vs. BAPR - Drawdown Comparison

The maximum JUNW drawdown since its inception was -8.57%, smaller than the maximum BAPR drawdown of -23.91%. Use the drawdown chart below to compare losses from any high point for JUNW and BAPR.

Drawdown Indicators

	JUNW	BAPR	Difference
Max Drawdown Largest peak-to-trough decline	-8.57%	-23.91%	+15.34%
Max Drawdown (1Y) Largest decline over 1 year	-2.31%	-1.93%	-0.38%
Max Drawdown (3Y) Largest decline over 3 years	-8.57%	-15.58%	+7.01%
Max Drawdown (5Y) Largest decline over 5 years	—	-15.58%	—
Current Drawdown Current decline from peak	-1.23%	-0.93%	-0.30%
Average Drawdown Average peak-to-trough decline	-0.55%	-2.58%	+2.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.44%	0.39%	+0.05%

Volatility

JUNW vs. BAPR - Volatility Comparison

AllianzIM U.S. Equity Buffer20 Jun ETF (JUNW) and Innovator U.S. Equity Buffer ETF - April (BAPR) have volatilities of 2.05% and 2.06%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JUNW	BAPR	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.05%	2.06%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	3.37%	4.91%	-1.54%
Volatility (1Y) Calculated over the trailing 1-year period	3.98%	5.79%	-1.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.47%	11.51%	-5.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.47%	13.09%	-6.62%

JUNW vs. BAPR - Expense Ratio Comparison

JUNW has a 0.74% expense ratio, which is lower than BAPR's 0.79% expense ratio.

Dividends

JUNW vs. BAPR - Dividend Comparison

Neither JUNW nor BAPR has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both JUNW and BAPR in my portfolio?

JUNW and BAPR 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 is riskier, JUNW or BAPR?

BAPR has higher volatility (2.06%) compared to JUNW (2.05%). In terms of maximum drawdown, JUNW dropped -8.57% vs BAPR's -23.91%.

Which ETF is better, JUNW or BAPR?

On 3-year performance, BAPR leads with 14.48% vs 10.11% for JUNW. On fees, JUNW is cheaper at 0.74% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JUNW or BAPR?

Over the 3-year period, BAPR has performed better with a 14.48% return vs 10.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JUNW or BAPR?

JUNW is cheaper with a 0.74% expense ratio, compared with 0.79% for BAPR.

Which ETF pays a higher dividend yield, JUNW or BAPR?

JUNW and BAPR have nearly identical dividend yields, around 0.00%.

What is the main difference between JUNW and BAPR?

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

Which has better risk-adjusted returns?

BAPR currently has the higher Sharpe Ratio (3.24 vs 2.09), 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.