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LOUP vs. HDV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

LOUP vs. HDV

Last updated Jun 24, 2026

LOUP (Innovator Deepwater Frontier Tech ETF) and HDV (iShares Core High Dividend ETF) are both exchange-traded funds - LOUP is a Technology Equities fund tracking the Deepwater Frontier Tech Index, while HDV is a Dividend fund tracking the Morningstar Dividend Yield Focus Index. Both are passively managed. Over the past 5 years, LOUP returned 11.19%/yr vs 11.09%/yr for HDV. At a 0.36 correlation, their price movements are largely independent. LOUP charges 0.70%/yr vs 0.08%/yr for HDV.

Performance

LOUP vs. HDV - Performance Comparison

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

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Returns By Period

In the year-to-date period, LOUP achieves a 21.99% return, which is significantly higher than HDV's 14.07% return.

LOUP

1D
-3.56%
1M
4.72%
YTD
21.99%
6M
19.67%
1Y
61.21%
3Y*
34.83%
5Y*
11.19%
10Y*
—

HDV

1D
1.33%
1M
-1.35%
YTD
14.07%
6M
14.08%
1Y
21.06%
3Y*
15.48%
5Y*
11.09%
10Y*
9.45%
*Multi-year figures are annualized to reflect compound growth (CAGR)

LOUP vs. HDV - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
LOUP
Innovator Deepwater Frontier Tech ETF		21.99%43.24%21.80%51.31%-46.00%7.54%86.25%31.76%-18.86%
HDV
iShares Core High Dividend ETF		14.07%11.90%14.16%1.72%7.05%19.45%-6.48%20.22%-0.85%

Correlation

The correlation between LOUP and HDV is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.16

Correlation (3Y)
Calculated over the trailing 3-year period

0.06

Correlation (5Y)
Calculated over the trailing 5-year period

0.26

Correlation (All Time)
Calculated using the full available price history since Jul 25, 2018

0.36

The correlation between LOUP and HDV shifts across timeframes, from -0.16 (1 year) to 0.36 (all time), reflecting how their relationship changes across market environments.

LOUP vs. HDV - Sectors Allocation Comparison

Sectors
LOUP
HDV

Technology

45.6%
0.2%

Industrials

17.6%
3.5%

Communication Services

17.0%
5.7%

Consumer Cyclical

8.9%
9.2%

Utilities

3.0%
8.1%

Energy

2.7%
20.2%

Financial Services

2.6%
4.7%

Healthcare

2.6%
22.6%

Basic Materials

-

0.8%

Consumer Defensive

-

24.5%

Real Estate

-

-

Technology

LOUP
45.6%
HDV
0.2%

Industrials

LOUP
17.6%
HDV
3.5%

Communication Services

LOUP
17.0%
HDV
5.7%

Consumer Cyclical

LOUP
8.9%
HDV
9.2%

Utilities

LOUP
3.0%
HDV
8.1%

Energy

LOUP
2.7%
HDV
20.2%

Financial Services

LOUP
2.6%
HDV
4.7%

Healthcare

LOUP
2.6%
HDV
22.6%

Basic Materials

LOUP

-

HDV
0.8%

Consumer Defensive

LOUP

-

HDV
24.5%

Real Estate

LOUP

-

HDV

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Innovator Deepwater Frontier Tech ETF

iShares Core High Dividend ETF

Often compared with LOUP:
LOUP vs. FFTYLOUP vs. QQQLOUP vs. DINTLOUP vs. VOOLOUP vs. AIQLOUP vs. IRBOLOUP vs. XLK
Often compared with HDV:
HDV vs. SCHDHDV vs. VYMHDV vs. SPYDHDV vs. DGROHDV vs. DVYHDV vs. VIGHDV vs. SPY

Return for Risk

LOUP vs. HDV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
LOUP
LOUP Risk / Return Rank: 6060
Overall Rank
LOUP Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
LOUP Sortino Ratio Rank: 5858
Sortino Ratio Rank
LOUP Omega Ratio Rank: 5656
Omega Ratio Rank
LOUP Calmar Ratio Rank: 6262
Calmar Ratio Rank
LOUP Martin Ratio Rank: 5858
Martin Ratio Rank
HDV
HDV Risk / Return Rank: 7070
Overall Rank
HDV Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
HDV Sortino Ratio Rank: 7373
Sortino Ratio Rank
HDV Omega Ratio Rank: 6262
Omega Ratio Rank
HDV Calmar Ratio Rank: 8181
Calmar Ratio Rank
HDV Martin Ratio Rank: 6464
Martin Ratio Rank
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. HDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Deepwater Frontier Tech ETF (LOUP) and iShares Core High Dividend ETF (HDV). 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.

LOUPHDVDifference
Sharpe ratioReturn per unit of total volatility
2.06
2.13

-0.07

Sortino ratioReturn per unit of downside risk
2.58
3.13

-0.54

Omega ratioGain probability vs. loss probability

1.33

1.36

-0.04

Calmar ratioReturn relative to maximum drawdown

2.93

4.09

-1.16

Martin ratioReturn relative to average drawdown

9.65

11.19

-1.54

LOUP vs. HDV - Sharpe Ratio Comparison

The current LOUP Sharpe Ratio is 2.06, which is comparable to the HDV Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of LOUP and HDV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

LOUP vs. HDV - Drawdown Comparison

The maximum LOUP drawdown since its inception was -58.68%, which is greater than HDV's maximum drawdown of -37.04%. Use the drawdown chart below to compare losses from any high point for LOUP and HDV.

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Drawdown Indicators

LOUPHDVDifference

Max Drawdown

Largest peak-to-trough decline

-58.68%

-37.04%

-21.64%

Max Drawdown (1Y)

Largest decline over 1 year

-21.00%

-5.18%

-15.82%

Max Drawdown (3Y)

Largest decline over 3 years

-35.23%

-10.49%

-24.74%

Max Drawdown (5Y)

Largest decline over 5 years

-55.63%

-15.42%

-40.21%

Max Drawdown (10Y)

Largest decline over 10 years

—

-37.04%

—

Current Drawdown

Current decline from peak

-6.64%

-1.35%

-5.29%

Average Drawdown

Average peak-to-trough decline

-19.94%

-3.08%

-16.86%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.36%

1.89%

+4.47%

Volatility

LOUP vs. HDV - Volatility Comparison

Innovator Deepwater Frontier Tech ETF (LOUP) has a higher volatility of 12.01% compared to iShares Core High Dividend ETF (HDV) at 3.64%. This indicates that LOUP's price experiences larger fluctuations and is considered to be riskier than HDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

LOUPHDVDifference

Volatility (1M)

Calculated over the trailing 1-month period

12.01%

3.64%

+8.37%

Volatility (6M)

Calculated over the trailing 6-month period

23.40%

7.61%

+15.79%

Volatility (1Y)

Calculated over the trailing 1-year period

29.92%

9.93%

+19.99%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

32.66%

12.81%

+19.85%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

32.05%

15.73%

+16.32%

LOUP vs. HDV - Expense Ratio Comparison

LOUP has a 0.70% expense ratio, which is higher than HDV's 0.08% expense ratio.

Dividends

LOUP vs. HDV - Dividend Comparison

LOUP has not paid dividends to shareholders, while HDV's dividend yield for the trailing twelve months is around 2.90%.

PositionTTM20252024202320222021202020192018201720162015
HDV
iShares Core High Dividend ETF		2.90%3.22%3.67%3.82%3.56%3.47%4.07%3.27%3.67%3.27%3.28%3.92%
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

LOUP and HDV have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

LOUP has higher volatility (12.01%) compared to HDV (3.64%). In terms of maximum drawdown, LOUP dropped -58.68% vs HDV's -37.04%.

On 5-year performance, LOUP leads with 11.19% vs 11.09% for HDV. On fees, HDV is cheaper at 0.08% per year. On volatility, HDV has been the lower-risk option at 3.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, LOUP has performed better with a 11.19% return vs 11.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

HDV is cheaper with a 0.08% expense ratio, compared with 0.70% for LOUP.

HDV has the higher dividend yield at 2.90%, compared with 0.00% for LOUP.

LOUP is categorized as Technology Equities, while HDV is Dividend. LOUP tracks Deepwater Frontier Tech Index, while HDV tracks Morningstar Dividend Yield Focus Index. They also come from different issuers: Innovator and iShares. Their fees differ too: 0.70% for LOUP and 0.08% for HDV.

HDV currently has the higher Sharpe Ratio (2.13 vs 2.06), 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.

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