LOUP vs. ITB

Last updated Jun 14, 2026

LOUP (Innovator Deepwater Frontier Tech ETF) and ITB (iShares U.S. Home Construction ETF) are both exchange-traded funds - LOUP is a Technology Equities fund tracking the Deepwater Frontier Tech Index, while ITB is a Building & Construction fund tracking the Dow Jones U.S. Select Home Construction Index. Both are passively managed. Over the past 5 years, LOUP returned 11.27%/yr vs 8.18%/yr for ITB. A 0.50 correlation means they provide meaningful diversification when combined. LOUP charges 0.70%/yr vs 0.38%/yr for ITB.

Performance

LOUP vs. ITB - Performance Comparison

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

Returns By Period

In the year-to-date period, LOUP achieves a 20.89% return, which is significantly higher than ITB's 0.87% return.

LOUP

• 1D: -0.93%
• 1M: 5.80%
• YTD: 20.89%
• 6M: 21.07%
• 1Y: 63.99%
• 3Y*: 32.56%
• 5Y*: 11.27%
• 10Y*: —

ITB

• 1D: -0.81%
• 1M: 8.40%
• YTD: 0.87%
• 6M: -5.10%
• 1Y: 8.65%
• 3Y*: 7.35%
• 5Y*: 8.18%
• 10Y*: 14.45%

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

LOUP vs. ITB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
LOUP Innovator Deepwater Frontier Tech ETF	20.89%	43.24%	21.80%	51.31%	-46.00%	7.54%	86.25%	31.76%	-18.86%
ITB iShares U.S. Home Construction ETF	0.87%	-5.26%	2.06%	68.91%	-26.26%	49.25%	26.42%	48.70%	-21.00%

Correlation

The correlation between LOUP and ITB is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (All Time) Calculated using the full available price history since Jul 25, 2018	0.50

Over the past year, the correlation between LOUP and ITB has dropped to 0.24 - well below their long-term average of 0.50, suggesting their price drivers have been diverging.

LOUP vs. ITB - Sectors Allocation Comparison

Sectors	LOUP	ITB
Technology	45.6%	-
Industrials	17.6%	19.5%
Communication Services	17.0%	-
Consumer Cyclical	8.9%	71.3%
Utilities	3.0%	-
Energy	2.7%	-
Financial Services	2.6%	-
Healthcare	2.6%	-
Basic Materials	-	8.7%
Consumer Defensive	-	-
Real Estate	-	0.5%

Return for Risk

LOUP vs. ITB — Risk / Return Rank

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

LOUP

LOUP Risk / Return Rank: 65
LOUP Sharpe Ratio Rank: 73
LOUP Sortino Ratio Rank: 64
LOUP Omega Ratio Rank: 62
LOUP Calmar Ratio Rank: 66
LOUP Martin Ratio Rank: 61

ITB

ITB Risk / Return Rank: 12
ITB Sharpe Ratio Rank: 12
ITB Sortino Ratio Rank: 14
ITB Omega Ratio Rank: 13
ITB Calmar Ratio Rank: 12
ITB Martin Ratio Rank: 11

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. ITB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Deepwater Frontier Tech ETF (LOUP) and iShares U.S. Home Construction ETF (ITB). 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.

	LOUP	ITB	Difference
Sharpe ratio: Return per unit of total volatility	2.06	0.18	+1.88
Sortino ratio: Return per unit of downside risk	2.59	0.53	+2.06
Omega ratio: Gain probability vs. loss probability	1.33	1.06	+0.27
Calmar ratio: Return relative to maximum drawdown	2.91	0.21	+2.69
Martin ratio: Return relative to average drawdown	9.66	0.41	+9.25

LOUP vs. ITB - Sharpe Ratio Comparison

The current LOUP Sharpe Ratio is 2.06, which is higher than the ITB Sharpe Ratio of 0.18. The chart below compares the historical Sharpe Ratios of LOUP and ITB, 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

LOUP vs. ITB - Drawdown Comparison

The maximum LOUP drawdown since its inception was -58.68%, smaller than the maximum ITB drawdown of -86.53%. Use the drawdown chart below to compare losses from any high point for LOUP and ITB.

Drawdown Indicators

	LOUP	ITB	Difference
Max Drawdown Largest peak-to-trough decline	-58.68%	-86.53%	+27.85%
Max Drawdown (1Y) Largest decline over 1 year	-21.00%	-26.04%	+5.04%
Max Drawdown (3Y) Largest decline over 3 years	-35.23%	-33.35%	-1.88%
Max Drawdown (5Y) Largest decline over 5 years	-55.63%	-40.55%	-15.08%
Max Drawdown (10Y) Largest decline over 10 years	—	-52.10%	—
Current Drawdown Current decline from peak	-7.47%	-23.53%	+16.06%
Average Drawdown Average peak-to-trough decline	-19.99%	-37.08%	+17.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.31%	13.45%	-7.14%

Volatility

LOUP vs. ITB - Volatility Comparison

Innovator Deepwater Frontier Tech ETF (LOUP) has a higher volatility of 11.16% compared to iShares U.S. Home Construction ETF (ITB) at 9.26%. This indicates that LOUP's price experiences larger fluctuations and is considered to be riskier than ITB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LOUP	ITB	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.16%	9.26%	+1.90%
Volatility (6M) Calculated over the trailing 6-month period	23.42%	20.89%	+2.53%
Volatility (1Y) Calculated over the trailing 1-year period	29.60%	29.90%	-0.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.56%	29.29%	+3.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.03%	30.05%	+1.98%

LOUP vs. ITB - Expense Ratio Comparison

LOUP has a 0.70% expense ratio, which is higher than ITB's 0.38% expense ratio.

Dividends

LOUP vs. ITB - Dividend Comparison

LOUP has not paid dividends to shareholders, while ITB's dividend yield for the trailing twelve months is around 1.17%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ITB iShares U.S. Home Construction ETF	1.17%	1.67%	0.46%	0.48%	0.86%	0.37%	0.46%	0.50%	0.63%	0.28%	0.43%	0.34%
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 ITB in my portfolio?

LOUP and ITB have a correlation of 0.24, 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 ITB?

LOUP has higher volatility (11.16%) compared to ITB (9.26%). In terms of maximum drawdown, LOUP dropped -58.68% vs ITB's -86.53%.

Which ETF is better, LOUP or ITB?

On 5-year performance, LOUP leads with 11.27% vs 8.18% for ITB. On fees, ITB is cheaper at 0.38% per year. On volatility, ITB has been the lower-risk option at 9.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LOUP or ITB?

Over the 5-year period, LOUP has performed better with a 11.27% return vs 8.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LOUP or ITB?

ITB is cheaper with a 0.38% expense ratio, compared with 0.70% for LOUP.

Which ETF pays a higher dividend yield, LOUP or ITB?

ITB has the higher dividend yield at 1.17%, compared with 0.00% for LOUP.

What is the main difference between LOUP and ITB?

LOUP is categorized as Technology Equities, while ITB is Building & Construction. LOUP tracks Deepwater Frontier Tech Index, while ITB tracks Dow Jones U.S. Select Home Construction Index. They also come from different issuers: Innovator and iShares. Their fees differ too: 0.70% for LOUP and 0.38% for ITB.

Which has better risk-adjusted returns?

LOUP currently has the higher Sharpe Ratio (2.06 vs 0.18), 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.