LJUL vs. IBUF

Last updated Jun 5, 2026

LJUL (Innovator Premium Income 15 Buffer ETF - July) and IBUF (Innovator International Developed 10 Buffer ETF - Quarterly) are both Defined Outcome funds from Innovator. Both are actively managed. Over the past year, LJUL returned 5.58% vs 12.34% for IBUF. A 0.53 correlation means they provide meaningful diversification when combined. LJUL charges 0.79%/yr vs 0.85%/yr for IBUF.

Performance

LJUL vs. IBUF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Premium Income 15 Buffer ETF - July (LJUL) and Innovator International Developed 10 Buffer ETF - Quarterly (IBUF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LJUL achieves a 1.89% return, which is significantly lower than IBUF's 5.86% return.

LJUL

• 1D: 0.08%
• 1M: 0.33%
• YTD: 1.89%
• 6M: 2.35%
• 1Y: 5.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBUF

• 1D: 0.63%
• 1M: 2.09%
• YTD: 5.86%
• 6M: 7.41%
• 1Y: 12.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LJUL vs. IBUF - Yearly Performance Comparison

	2026 (YTD)	2025	2024
LJUL Innovator Premium Income 15 Buffer ETF - July	1.89%	5.91%	3.27%
IBUF Innovator International Developed 10 Buffer ETF - Quarterly	5.86%	13.54%	2.77%

Correlation

The correlation between LJUL and IBUF is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (All Time) Calculated using the full available price history since Jul 2, 2024	0.53

The correlation between LJUL and IBUF has been stable across timeframes, ranging from 0.46 to 0.53 - a consistent structural relationship.

Return for Risk

LJUL vs. IBUF — Risk / Return Rank

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

LJUL

LJUL Risk / Return Rank: 96
LJUL Sharpe Ratio Rank: 94
LJUL Sortino Ratio Rank: 96
LJUL Omega Ratio Rank: 97
LJUL Calmar Ratio Rank: 97
LJUL Martin Ratio Rank: 98

IBUF

IBUF Risk / Return Rank: 83
IBUF Sharpe Ratio Rank: 71
IBUF Sortino Ratio Rank: 84
IBUF Omega Ratio Rank: 80
IBUF Calmar Ratio Rank: 91
IBUF Martin Ratio Rank: 90

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.

LJUL vs. IBUF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Premium Income 15 Buffer ETF - July (LJUL) and Innovator International Developed 10 Buffer ETF - Quarterly (IBUF). 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.

	LJUL	IBUF	Difference
Sharpe ratio: Return per unit of total volatility	3.53	2.28	+1.25
Sortino ratio: Return per unit of downside risk	5.79	3.69	+2.10
Omega ratio: Gain probability vs. loss probability	1.87	1.47	+0.40
Calmar ratio: Return relative to maximum drawdown	10.68	5.72	+4.96
Martin ratio: Return relative to average drawdown	53.88	20.31	+33.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LJUL vs. IBUF - Sharpe Ratio Comparison

The current LJUL Sharpe Ratio is 3.53, which is higher than the IBUF Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of LJUL and IBUF, 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

	LJUL	IBUF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.53	2.28	+1.25
Sharpe Ratio (All Time) Calculated using the full available price history	1.79	1.78	+0.01

Drawdowns

LJUL vs. IBUF - Drawdown Comparison

The maximum LJUL drawdown since its inception was -3.21%, smaller than the maximum IBUF drawdown of -5.92%. Use the drawdown chart below to compare losses from any high point for LJUL and IBUF.

Drawdown Indicators

	LJUL	IBUF	Difference
Max Drawdown Largest peak-to-trough decline	-3.21%	-5.92%	+2.71%
Max Drawdown (1Y) Largest decline over 1 year	-0.52%	-2.17%	+1.65%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.12%	-0.47%	+0.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.10%	0.61%	-0.51%

Volatility

LJUL vs. IBUF - Volatility Comparison

The current volatility for Innovator Premium Income 15 Buffer ETF - July (LJUL) is 0.23%, while Innovator International Developed 10 Buffer ETF - Quarterly (IBUF) has a volatility of 2.49%. This indicates that LJUL experiences smaller price fluctuations and is considered to be less risky than IBUF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LJUL	IBUF	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.23%	2.49%	-2.26%
Volatility (6M) Calculated over the trailing 6-month period	1.06%	4.64%	-3.58%
Volatility (1Y) Calculated over the trailing 1-year period	1.58%	5.43%	-3.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.25%	6.54%	-3.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.25%	6.54%	-3.29%

LJUL vs. IBUF - Expense Ratio Comparison

LJUL has a 0.79% expense ratio, which is lower than IBUF's 0.85% expense ratio.

Dividends

LJUL vs. IBUF - Dividend Comparison

LJUL's dividend yield for the trailing twelve months is around 5.22%, while IBUF has not paid dividends to shareholders.

Position	TTM	2025	2024
IBUF Innovator International Developed 10 Buffer ETF - Quarterly	0.00%	0.00%	0.00%
LJUL Innovator Premium Income 15 Buffer ETF - July	5.22%	5.36%	2.78%

Frequently Asked Questions

Can I hold both LJUL and IBUF in my portfolio?

LJUL and IBUF have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LJUL or IBUF?

IBUF has higher volatility (2.49%) compared to LJUL (0.23%). In terms of maximum drawdown, LJUL dropped -3.21% vs IBUF's -5.92%.

Which ETF is better, LJUL or IBUF?

On 1-year performance, IBUF leads with 12.34% vs 5.58% for LJUL. On fees, LJUL is cheaper at 0.79% per year. On volatility, LJUL has been the lower-risk option at 0.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LJUL or IBUF?

Over the 1-year period, IBUF has performed better with a 12.34% return vs 5.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LJUL or IBUF?

LJUL is cheaper with a 0.79% expense ratio, compared with 0.85% for IBUF.

Which ETF pays a higher dividend yield, LJUL or IBUF?

LJUL has the higher dividend yield at 5.22%, compared with 0.00% for IBUF.

What is the main difference between LJUL and IBUF?

Their fees differ too: 0.79% for LJUL and 0.85% for IBUF.

Which has better risk-adjusted returns?

LJUL currently has the higher Sharpe Ratio (3.53 vs 2.28), 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.