LOUP vs. CIF

Last updated Jun 3, 2026

LOUP (Innovator Deepwater Frontier Tech ETF) and CIF (MFS Intermediate High Income Fund) are both funds - LOUP is a Technology Equities fund tracking the Deepwater Frontier Tech Index, while CIF is a High Yield Bonds fund tracking the Barclays U.S. High-Yield Corporate 2% Issuer Capped Index. Both are passively managed. Over the past 5 years, LOUP returned 13.62%/yr vs -2.33%/yr for CIF. At a 0.36 correlation, their price movements are largely independent. LOUP charges 0.70%/yr vs 1.50%/yr for CIF.

Performance

LOUP vs. CIF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Deepwater Frontier Tech ETF (LOUP) and MFS Intermediate High Income Fund (CIF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LOUP achieves a 30.66% return, which is significantly higher than CIF's -0.48% return.

LOUP

• 1D: 0.51%
• 1M: 20.92%
• YTD: 30.66%
• 6M: 29.25%
• 1Y: 81.09%
• 3Y*: 38.24%
• 5Y*: 13.62%
• 10Y*: —

CIF

• 1D: 0.31%
• 1M: -0.94%
• YTD: -0.48%
• 6M: -1.66%
• 1Y: 5.11%
• 3Y*: 10.45%
• 5Y*: -2.33%
• 10Y*: 5.56%

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

LOUP vs. CIF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
LOUP Innovator Deepwater Frontier Tech ETF	30.66%	43.24%	21.80%	51.31%	-46.00%	7.54%	86.25%	31.76%	-19.72%
CIF MFS Intermediate High Income Fund	-0.48%	8.97%	11.42%	11.85%	-32.24%	17.80%	0.27%	43.26%	-10.81%

Correlation

The correlation between LOUP and CIF is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (All Time) Calculated using the full available price history since Jul 26, 2018	0.36

The correlation between LOUP and CIF shifts across timeframes, from 0.28 (1 year) to 0.39 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

LOUP vs. CIF — Risk / Return Rank

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

LOUP

LOUP Risk / Return Rank: 76
LOUP Sharpe Ratio Rank: 86
LOUP Sortino Ratio Rank: 74
LOUP Omega Ratio Rank: 72
LOUP Calmar Ratio Rank: 78
LOUP Martin Ratio Rank: 72

CIF

CIF Risk / Return Rank: 6
CIF Sharpe Ratio Rank: 6
CIF Sortino Ratio Rank: 6
CIF Omega Ratio Rank: 6
CIF Calmar Ratio Rank: 6
CIF Martin Ratio Rank: 6

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.

LOUP vs. CIF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Deepwater Frontier Tech ETF (LOUP) and MFS Intermediate High Income Fund (CIF). 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.

	LOUP	CIF	Difference
Sharpe ratio Return per unit of total volatility	2.87	0.50	+2.36
Sortino ratio Return per unit of downside risk	3.39	0.81	+2.58
Omega ratio Gain probability vs. loss probability	1.44	1.10	+0.34
Calmar ratio Return relative to maximum drawdown	4.02	0.57	+3.45
Martin ratio Return relative to average drawdown	13.63	1.63	+12.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LOUP vs. CIF - Sharpe Ratio Comparison

The current LOUP Sharpe Ratio is 2.87, which is higher than the CIF Sharpe Ratio of 0.50. The chart below compares the historical Sharpe Ratios of LOUP and CIF, 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

	LOUP	CIF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.87	0.50	+2.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	-0.14	+0.57
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.29	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.16	+0.44

Drawdowns

LOUP vs. CIF - Drawdown Comparison

The maximum LOUP drawdown since its inception was -58.68%, smaller than the maximum CIF drawdown of -69.23%. Use the drawdown chart below to compare losses from any high point for LOUP and CIF.

Drawdown Indicators

	LOUP	CIF	Difference
Max Drawdown Largest peak-to-trough decline	-58.68%	-69.23%	+10.55%
Max Drawdown (1Y) Largest decline over 1 year	-21.00%	-7.89%	-13.11%
Max Drawdown (3Y) Largest decline over 3 years	-35.23%	-10.73%	-24.50%
Max Drawdown (5Y) Largest decline over 5 years	-55.63%	-44.92%	-10.71%
Max Drawdown (10Y) Largest decline over 10 years	—	-45.24%	—
Current Drawdown Current decline from peak	0.00%	-21.94%	+21.94%
Average Drawdown Average peak-to-trough decline	-20.05%	-17.82%	-2.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.19%	2.77%	+3.42%

Volatility

LOUP vs. CIF - Volatility Comparison

Innovator Deepwater Frontier Tech ETF (LOUP) has a higher volatility of 7.78% compared to MFS Intermediate High Income Fund (CIF) at 3.04%. This indicates that LOUP's price experiences larger fluctuations and is considered to be riskier than CIF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LOUP	CIF	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.78%	3.04%	+4.74%
Volatility (6M) Calculated over the trailing 6-month period	21.85%	7.62%	+14.23%
Volatility (1Y) Calculated over the trailing 1-year period	28.47%	10.23%	+18.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.38%	16.42%	+15.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.97%	19.45%	+12.52%

LOUP vs. CIF - Expense Ratio Comparison

LOUP has a 0.70% expense ratio, which is lower than CIF's 1.50% expense ratio.

Dividends

LOUP vs. CIF - Dividend Comparison

LOUP has not paid dividends to shareholders, while CIF's dividend yield for the trailing twelve months is around 10.95%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CIF MFS Intermediate High Income Fund	10.95%	10.46%	10.23%	10.02%	11.22%	8.40%	9.01%	8.63%	11.71%	9.16%	9.91%	10.05%
LOUP Innovator Deepwater Frontier Tech ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LOUP and CIF in my portfolio?

LOUP and CIF have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LOUP or CIF?

LOUP has higher volatility (7.78%) compared to CIF (3.04%). In terms of maximum drawdown, LOUP dropped -58.68% vs CIF's -69.23%.

Which has better risk-adjusted returns?

LOUP currently has the higher Sharpe Ratio (2.87 vs 0.50), 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.