LOUP vs. TIME

Last updated Apr 1, 2026

Compare and contrast key facts about Innovator Deepwater Frontier Tech ETF (LOUP) and Clockwise Core Equity & Innovation ETF (TIME).

LOUP and TIME are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. LOUP is a passively managed fund by Innovator that tracks the performance of the Deepwater Frontier Tech Index. It was launched on Jul 24, 2018. TIME is an actively managed fund by Clockwise Capital. It was launched on Jan 27, 2022.

Performance

LOUP vs. TIME - Performance Comparison

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

LOUP vs. TIME - Yearly Performance Comparison

	2026 (YTD)	2025	2024
LOUP Innovator Deepwater Frontier Tech ETF	-9.90%	43.24%	15.22%
TIME Clockwise Core Equity & Innovation ETF	-7.92%	10.17%	6.75%

Returns By Period

In the year-to-date period, LOUP achieves a -9.90% return, which is significantly lower than TIME's -7.92% return.

LOUP

• 1D: 5.39%
• 1M: -8.01%
• YTD: -9.90%
• 6M: -6.82%
• 1Y: 51.60%
• 3Y*: 24.76%
• 5Y*: 4.49%
• 10Y*: —

TIME

• 1D: 2.20%
• 1M: -5.68%
• YTD: -7.92%
• 6M: -6.35%
• 1Y: 11.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LOUP vs. TIME - Expense Ratio Comparison

LOUP has a 0.70% expense ratio, which is lower than TIME's 1.00% expense ratio.

TIME

Clockwise Core Equity & Innovation ETF

LOUP

Innovator Deepwater Frontier Tech ETF

Return for Risk

LOUP vs. TIME — Risk / Return Rank

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

LOUP

LOUP Risk / Return Rank: 80
LOUP Sharpe Ratio Rank: 80
LOUP Sortino Ratio Rank: 81
LOUP Omega Ratio Rank: 77
LOUP Calmar Ratio Rank: 83
LOUP Martin Ratio Rank: 77

TIME

TIME Risk / Return Rank: 40
TIME Sharpe Ratio Rank: 43
TIME Sortino Ratio Rank: 42
TIME Omega Ratio Rank: 39
TIME Calmar Ratio Rank: 37
TIME Martin Ratio Rank: 39

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. TIME - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Deepwater Frontier Tech ETF (LOUP) and Clockwise Core Equity & Innovation ETF (TIME). 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	TIME	Difference
Sharpe ratio Return per unit of total volatility	1.48	0.76	+0.72
Sortino ratio Return per unit of downside risk	2.08	1.13	+0.96
Omega ratio Gain probability vs. loss probability	1.29	1.15	+0.14
Calmar ratio Return relative to maximum drawdown	2.34	0.90	+1.44
Martin ratio Return relative to average drawdown	8.09	3.48	+4.62
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. TIME - Sharpe Ratio Comparison

The current LOUP Sharpe Ratio is 1.48, which is higher than the TIME Sharpe Ratio of 0.76. The chart below compares the historical Sharpe Ratios of LOUP and TIME, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	LOUP	TIME	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.48	0.76	+0.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.14	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.26	+0.18

Correlation

The correlation between LOUP and TIME is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

LOUP vs. TIME - Dividend Comparison

LOUP has not paid dividends to shareholders, while TIME's dividend yield for the trailing twelve months is around 10.88%.

	TTM	2025	2024
LOUP Innovator Deepwater Frontier Tech ETF	0.00%	0.00%	0.00%
TIME Clockwise Core Equity & Innovation ETF	10.88%	10.02%	15.84%

Drawdowns

LOUP vs. TIME - Drawdown Comparison

The maximum LOUP drawdown since its inception was -58.68%, which is greater than TIME's maximum drawdown of -24.26%. Use the drawdown chart below to compare losses from any high point for LOUP and TIME.

Drawdown Indicators

	LOUP	TIME	Difference
Max Drawdown Largest peak-to-trough decline	-58.68%	-24.26%	-34.42%
Max Drawdown (1Y) Largest decline over 1 year	-21.00%	-13.09%	-7.91%
Max Drawdown (5Y) Largest decline over 5 years	-55.63%	—	—
Current Drawdown Current decline from peak	-16.74%	-11.18%	-5.56%
Average Drawdown Average peak-to-trough decline	-20.42%	-5.94%	-14.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.07%	3.39%	+2.68%

Volatility

LOUP vs. TIME - Volatility Comparison

Innovator Deepwater Frontier Tech ETF (LOUP) has a higher volatility of 10.91% compared to Clockwise Core Equity & Innovation ETF (TIME) at 5.31%. This indicates that LOUP's price experiences larger fluctuations and is considered to be riskier than TIME based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LOUP	TIME	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.91%	5.31%	+5.60%
Volatility (6M) Calculated over the trailing 6-month period	21.85%	10.67%	+11.18%
Volatility (1Y) Calculated over the trailing 1-year period	35.07%	15.02%	+20.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.19%	17.99%	+14.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.98%	17.99%	+13.99%