LOUP vs. LJUL

Last updated Jun 3, 2026

LOUP (Innovator Deepwater Frontier Tech ETF) and LJUL (Innovator Premium Income 15 Buffer ETF - July) are both exchange-traded funds - LOUP is a Technology Equities fund tracking the Deepwater Frontier Tech Index, while LJUL is a Defined Outcome fund actively managed by Innovator. LOUP is passively managed, while LJUL is actively managed. Over the past year, LOUP returned 81.09% vs 5.58% for LJUL. A 0.58 correlation means they provide meaningful diversification when combined. LOUP charges 0.70%/yr vs 0.79%/yr for LJUL.

Performance

LOUP vs. LJUL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Deepwater Frontier Tech ETF (LOUP) and Innovator Premium Income 15 Buffer ETF - July (LJUL). 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 LJUL's 1.84% return.

LOUP

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

LJUL

• 1D: 0.00%
• 1M: 0.35%
• YTD: 1.84%
• 6M: 2.37%
• 1Y: 5.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LOUP vs. LJUL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
LOUP Innovator Deepwater Frontier Tech ETF	30.66%	43.24%	11.21%
LJUL Innovator Premium Income 15 Buffer ETF - July	1.84%	5.91%	3.27%

Correlation

The correlation between LOUP and LJUL is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (All Time) Calculated using the full available price history since Jul 2, 2024	0.58

The correlation between LOUP and LJUL shifts across timeframes, from 0.47 (1 year) to 0.58 (all time), reflecting how their relationship changes across market environments.

Return for Risk

LOUP vs. LJUL — 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

LJUL

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

LOUP vs. LJUL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Deepwater Frontier Tech ETF (LOUP) and Innovator Premium Income 15 Buffer ETF - July (LJUL). 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	LJUL	Difference
Sharpe ratio Return per unit of total volatility	2.87	3.54	-0.67
Sortino ratio Return per unit of downside risk	3.39	5.79	-2.40
Omega ratio Gain probability vs. loss probability	1.44	1.88	-0.44
Calmar ratio Return relative to maximum drawdown	4.02	10.68	-6.67
Martin ratio Return relative to average drawdown	13.63	53.99	-40.36
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. LJUL - Sharpe Ratio Comparison

The current LOUP Sharpe Ratio is 2.87, which is comparable to the LJUL Sharpe Ratio of 3.54. The chart below compares the historical Sharpe Ratios of LOUP and LJUL, 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	LJUL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.87	3.54	-0.67
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	1.79	-1.19

Drawdowns

LOUP vs. LJUL - Drawdown Comparison

The maximum LOUP drawdown since its inception was -58.68%, which is greater than LJUL's maximum drawdown of -3.21%. Use the drawdown chart below to compare losses from any high point for LOUP and LJUL.

Drawdown Indicators

	LOUP	LJUL	Difference
Max Drawdown Largest peak-to-trough decline	-58.68%	-3.21%	-55.47%
Max Drawdown (1Y) Largest decline over 1 year	-21.00%	-0.52%	-20.48%
Max Drawdown (3Y) Largest decline over 3 years	-35.23%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-55.63%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-20.05%	-0.12%	-19.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.19%	0.10%	+6.09%

Volatility

LOUP vs. LJUL - Volatility Comparison

Innovator Deepwater Frontier Tech ETF (LOUP) has a higher volatility of 7.78% compared to Innovator Premium Income 15 Buffer ETF - July (LJUL) at 0.22%. This indicates that LOUP's price experiences larger fluctuations and is considered to be riskier than LJUL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LOUP	LJUL	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.78%	0.22%	+7.56%
Volatility (6M) Calculated over the trailing 6-month period	21.85%	1.06%	+20.79%
Volatility (1Y) Calculated over the trailing 1-year period	28.47%	1.58%	+26.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.38%	3.25%	+29.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.97%	3.25%	+28.72%

LOUP vs. LJUL - Expense Ratio Comparison

LOUP has a 0.70% expense ratio, which is lower than LJUL's 0.79% expense ratio.

Dividends

LOUP vs. LJUL - Dividend Comparison

LOUP has not paid dividends to shareholders, while LJUL's dividend yield for the trailing twelve months is around 5.23%.

Position	TTM	2025	2024
LJUL Innovator Premium Income 15 Buffer ETF - July	5.23%	5.36%	2.78%
LOUP Innovator Deepwater Frontier Tech ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LOUP and LJUL in my portfolio?

LOUP and LJUL have a correlation of 0.47, 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 LJUL?

LOUP has higher volatility (7.78%) compared to LJUL (0.22%). In terms of maximum drawdown, LOUP dropped -58.68% vs LJUL's -3.21%.

Which ETF is better, LOUP or LJUL?

On 1-year performance, LOUP leads with 81.09% vs 5.58% for LJUL. On fees, LOUP is cheaper at 0.70% per year. On volatility, LJUL has been the lower-risk option at 0.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LOUP or LJUL?

Over the 1-year period, LOUP has performed better with a 81.09% return vs 5.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LOUP or LJUL?

LOUP is cheaper with a 0.70% expense ratio, compared with 0.79% for LJUL.

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

LJUL has the higher dividend yield at 5.23%, compared with 0.00% for LOUP.

What is the main difference between LOUP and LJUL?

LOUP is categorized as Technology Equities, while LJUL is Defined Outcome. Their fees differ too: 0.70% for LOUP and 0.79% for LJUL.

Which has better risk-adjusted returns?

LJUL currently has the higher Sharpe Ratio (3.54 vs 2.87), 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.