LVHI vs. BALT

Last updated Aug 1, 2026

LVHI (Franklin International Low Volatility High Dividend Index ETF) and BALT (Innovator Defined Wealth Shield ETF) are both exchange-traded funds - LVHI is a Dividend fund tracking the Franklin International Low Volatility High Dividend Hedged Index-NR, while BALT is a Defined Outcome fund tracking the S&P 500. Both are passively managed. Over the past 5 years, LVHI returned 16.77%/yr vs 5.98%/yr for BALT. Their 0.48 correlation means their historical movements had little consistent relationship. LVHI charges 0.40%/yr vs 0.69%/yr for BALT.

Performance

LVHI vs. BALT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin International Low Volatility High Dividend Index ETF (LVHI) and Innovator Defined Wealth Shield ETF (BALT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LVHI achieves a 18.29% return, which is significantly higher than BALT's 2.78% return.

LVHI

• 1D: -0.70%
• 1M: 5.74%
• 6M: 13.36%
• YTD: 18.29%
• 1Y: 34.81%
• 3Y*: 22.13%
• 5Y*: 16.77%
• 10Y*: 11.87%
• ALL TIME*: 11.67%

BALT

• 1D: 0.17%
• 1M: 0.48%
• 6M: 2.21%
• YTD: 2.78%
• 1Y: 6.56%
• 3Y*: 6.98%
• 5Y*: 5.98%
• 10Y*: —
• ALL TIME*: 5.93%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BALT Innovator Defined Wealth Shield ETF	$14.85M	$18.00M	$16.07M
LVHI Franklin International Low Volatility High Dividend Index ETF	$37.17M	$30.23M	$26.64M

LVHI vs. BALT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
LVHI Franklin International Low Volatility High Dividend Index ETF	18.29%	27.12%	14.81%	17.45%	3.84%	4.73%
BALT Innovator Defined Wealth Shield ETF	2.78%	6.65%	9.98%	7.45%	2.54%	0.91%

Correlation

The correlation between LVHI and BALT is 0.33, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.33
Correlation (3Y) Balances recent behavior with more history.	0.44
Correlation (5Y) Shows whether the relationship held over a longer period.	0.48
Correlation (All Time) Calculated using the full available price history since Jul 1, 2021	0.48

The correlation between LVHI and BALT shifts across timeframes, from 0.33 (1 year) to 0.48 (all time), reflecting how their relationship changes across market environments.

LVHI vs. BALT - Sectors Allocation Comparison

Sectors	LVHI	BALT
Financial Services	25.1%	11.7%
Energy	14.2%	3.0%
Industrials	13.2%	8.4%
Consumer Defensive	10.5%	4.6%
Utilities	10.4%	2.3%
Healthcare	7.2%	9.1%
Basic Materials	6.3%	1.7%
Communication Services	6.1%	10.0%
Consumer Cyclical	4.9%	9.6%
Real Estate	2.2%	1.9%
Technology	0.1%	37.9%

Return for Risk

LVHI vs. BALT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

LVHI

LVHI Risk / Return Rank: 97
LVHI Sharpe Ratio Rank: 98
LVHI Sortino Ratio Rank: 97
LVHI Omega Ratio Rank: 97
LVHI Calmar Ratio Rank: 96
LVHI Martin Ratio Rank: 96

BALT

BALT Risk / Return Rank: 96
BALT Sharpe Ratio Rank: 96
BALT Sortino Ratio Rank: 96
BALT Omega Ratio Rank: 96
BALT Calmar Ratio Rank: 96
BALT Martin Ratio Rank: 95

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

LVHI vs. BALT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin International Low Volatility High Dividend Index ETF (LVHI) and Innovator Defined Wealth Shield ETF (BALT). 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.

	LVHI	BALT	Difference
Sharpe ratio: Return per unit of total volatility	3.72	2.91	+0.81
Sortino ratio: Return per unit of downside risk	5.08	4.41	+0.68
Omega ratio: Gain probability vs. loss probability	1.71	1.62	+0.10
Calmar ratio: Return relative to maximum drawdown	5.76	5.71	+0.04
Martin ratio: Return relative to average drawdown	24.05	21.02	+3.03

LVHI vs. BALT - Sharpe Ratio Comparison

The current LVHI Sharpe Ratio is 3.72, which is comparable to the BALT Sharpe Ratio of 2.91. The chart below compares the historical Sharpe Ratios of LVHI and BALT, 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

LVHI vs. BALT - Drawdown Comparison

The maximum LVHI drawdown since its inception was -32.31%, which is greater than BALT's maximum drawdown of -4.89%. Use the drawdown chart below to compare losses from any high point for LVHI and BALT.

Drawdown Indicators

	LVHI	BALT	Difference
Max Drawdown Largest peak-to-trough decline	-32.31%	-4.89%	-27.42%
Max Drawdown (1Y) Largest decline over 1 year	-6.08%	-1.15%	-4.93%
Max Drawdown (3Y) Largest decline over 3 years	-11.99%	-4.89%	-7.10%
Max Drawdown (5Y) Largest decline over 5 years	-11.99%	-4.89%	-7.10%
Max Drawdown (10Y) Largest decline over 10 years	-32.31%	—	—
Current Drawdown Current decline from peak	-0.70%	0.00%	-0.70%
Average Drawdown Average peak-to-trough decline	-3.47%	-0.34%	-3.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.45%	0.31%	+1.14%

Volatility

LVHI vs. BALT - Volatility Comparison

Franklin International Low Volatility High Dividend Index ETF (LVHI) has a higher volatility of 2.48% compared to Innovator Defined Wealth Shield ETF (BALT) at 0.80%. This indicates that LVHI's price experiences larger fluctuations and is considered to be riskier than BALT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LVHI	BALT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.48%	0.80%	+1.68%
Volatility (6M) Calculated over the trailing 6-month period	7.58%	1.49%	+6.09%
Volatility (1Y) Calculated over the trailing 1-year period	9.46%	2.27%	+7.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.05%	3.30%	+7.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.70%	3.28%	+10.42%

LVHI vs. BALT - Expense Ratio Comparison

LVHI has a 0.40% expense ratio, which is lower than BALT's 0.69% expense ratio.

Dividends

LVHI vs. BALT - Dividend Comparison

LVHI's dividend yield for the trailing twelve months is around 4.51%, while BALT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BALT Innovator Defined Wealth Shield ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
LVHI Franklin International Low Volatility High Dividend Index ETF	4.51%	4.92%	3.98%	8.12%	7.74%	4.13%	3.97%	6.67%	10.67%	3.38%	2.02%

Frequently Asked Questions

Can I hold both LVHI and BALT in my portfolio?

LVHI and BALT have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LVHI or BALT?

LVHI has higher volatility (2.48%) compared to BALT (0.80%). In terms of maximum drawdown, LVHI dropped -32.31% vs BALT's -4.89%.

Which ETF is better, LVHI or BALT?

On 5-year performance, LVHI leads with 16.77% vs 5.98% for BALT. On fees, LVHI is cheaper at 0.40% per year. On volatility, BALT has been the lower-risk option at 0.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LVHI or BALT?

Over the 5-year period, LVHI has performed better with a 16.77% return vs 5.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LVHI or BALT?

LVHI is cheaper with a 0.40% expense ratio, compared with 0.69% for BALT.

Which ETF pays a higher dividend yield, LVHI or BALT?

LVHI has the higher dividend yield at 4.51%, compared with 0.00% for BALT.

What is the main difference between LVHI and BALT?

LVHI is categorized as Dividend, while BALT is Defined Outcome. LVHI tracks Franklin International Low Volatility High Dividend Hedged Index-NR, while BALT tracks S&P 500. They also come from different issuers: Franklin Templeton and Innovator. Their fees differ too: 0.40% for LVHI and 0.69% for BALT.

Which has better risk-adjusted returns?

LVHI currently has the higher Sharpe Ratio (3.72 vs 2.91), 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.