MOOD vs. BALT

Last updated Aug 1, 2026

MOOD (Relative Sentiment Tactical Allocation ETF) and BALT (Innovator Defined Wealth Shield ETF) are both exchange-traded funds - MOOD is a Tactical Allocation fund actively managed by Alpha Architect, while BALT is a Defined Outcome fund tracking the S&P 500. MOOD is actively managed, while BALT is passively managed. Over the past 3 years, MOOD returned 19.14%/yr vs 6.98%/yr for BALT. Their 0.63 correlation means they have sometimes moved together and sometimes differently. MOOD charges 0.73%/yr vs 0.69%/yr for BALT.

Performance

MOOD vs. BALT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Relative Sentiment Tactical Allocation ETF (MOOD) 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, MOOD achieves a 13.27% return, which is significantly higher than BALT's 2.78% return.

MOOD

• 1D: 0.04%
• 1M: 0.15%
• 6M: 5.83%
• YTD: 13.27%
• 1Y: 31.25%
• 3Y*: 19.14%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.16%

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
MOOD Relative Sentiment Tactical Allocation ETF	$594.91K	$566.29K	$735.34K

MOOD vs. BALT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MOOD Relative Sentiment Tactical Allocation ETF	13.27%	30.39%	12.53%	12.56%	-3.31%
BALT Innovator Defined Wealth Shield ETF	2.78%	6.65%	9.98%	7.45%	4.18%

Correlation

The correlation between MOOD and BALT is 0.50, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.50
Correlation (3Y) Balances recent behavior with more history.	0.58
Correlation (All Time) Calculated using the full available price history since May 19, 2022	0.63

The correlation between MOOD and BALT shifts across timeframes, from 0.50 (1 year) to 0.63 (all time), reflecting how their relationship changes across market environments.

MOOD vs. BALT - Sectors Allocation Comparison

Sectors	MOOD	BALT
Technology	33.5%	37.9%
Financial Services	12.4%	11.7%
Industrials	9.9%	8.4%
Consumer Cyclical	9.0%	9.6%
Healthcare	9.0%	9.1%
Communication Services	8.6%	10.0%
Basic Materials	5.9%	1.7%
Consumer Defensive	4.4%	4.6%
Energy	3.0%	3.0%
Utilities	2.2%	2.3%
Real Estate	2.1%	1.9%

Return for Risk

MOOD vs. BALT — Risk / Return Rank

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

MOOD

MOOD Risk / Return Rank: 84
MOOD Sharpe Ratio Rank: 89
MOOD Sortino Ratio Rank: 80
MOOD Omega Ratio Rank: 90
MOOD Calmar Ratio Rank: 85
MOOD Martin Ratio Rank: 78

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.

MOOD vs. BALT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Relative Sentiment Tactical Allocation ETF (MOOD) 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.

	MOOD	BALT	Difference
Sharpe ratio: Return per unit of total volatility	2.14	2.91	-0.78
Sortino ratio: Return per unit of downside risk	2.57	4.41	-1.83
Omega ratio: Gain probability vs. loss probability	1.42	1.62	-0.20
Calmar ratio: Return relative to maximum drawdown	3.23	5.71	-2.48
Martin ratio: Return relative to average drawdown	9.79	21.02	-11.23

MOOD vs. BALT - Sharpe Ratio Comparison

The current MOOD Sharpe Ratio is 2.14, which is comparable to the BALT Sharpe Ratio of 2.91. The chart below compares the historical Sharpe Ratios of MOOD 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

MOOD vs. BALT - Drawdown Comparison

The maximum MOOD drawdown since its inception was -14.34%, which is greater than BALT's maximum drawdown of -4.89%. Use the drawdown chart below to compare losses from any high point for MOOD and BALT.

Drawdown Indicators

	MOOD	BALT	Difference
Max Drawdown Largest peak-to-trough decline	-14.34%	-4.89%	-9.45%
Max Drawdown (1Y) Largest decline over 1 year	-9.71%	-1.15%	-8.56%
Max Drawdown (3Y) Largest decline over 3 years	-9.71%	-4.89%	-4.82%
Max Drawdown (5Y) Largest decline over 5 years	—	-4.89%	—
Current Drawdown Current decline from peak	-2.08%	0.00%	-2.08%
Average Drawdown Average peak-to-trough decline	-2.30%	-0.34%	-1.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	0.31%	+2.89%

Volatility

MOOD vs. BALT - Volatility Comparison

Relative Sentiment Tactical Allocation ETF (MOOD) has a higher volatility of 2.45% compared to Innovator Defined Wealth Shield ETF (BALT) at 0.80%. This indicates that MOOD'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

	MOOD	BALT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.45%	0.80%	+1.65%
Volatility (6M) Calculated over the trailing 6-month period	12.23%	1.49%	+10.74%
Volatility (1Y) Calculated over the trailing 1-year period	14.69%	2.27%	+12.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.09%	3.30%	+8.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.09%	3.28%	+8.81%

MOOD vs. BALT - Expense Ratio Comparison

MOOD has a 0.73% expense ratio, which is higher than BALT's 0.69% expense ratio.

Dividends

MOOD vs. BALT - Dividend Comparison

MOOD's dividend yield for the trailing twelve months is around 0.36%, while BALT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
BALT Innovator Defined Wealth Shield ETF	0.00%	0.00%	0.00%	0.00%	0.00%
MOOD Relative Sentiment Tactical Allocation ETF	0.36%	0.40%	1.33%	1.34%	1.43%

Frequently Asked Questions

Can I hold both MOOD and BALT in my portfolio?

MOOD and BALT have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MOOD or BALT?

MOOD has higher volatility (2.45%) compared to BALT (0.80%). In terms of maximum drawdown, MOOD dropped -14.34% vs BALT's -4.89%.

Which ETF is better, MOOD or BALT?

On 3-year performance, MOOD leads with 19.14% vs 6.98% for BALT. On fees, BALT is cheaper at 0.69% 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, MOOD or BALT?

Over the 3-year period, MOOD has performed better with a 19.14% return vs 6.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MOOD or BALT?

BALT is cheaper with a 0.69% expense ratio, compared with 0.73% for MOOD.

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

MOOD has the higher dividend yield at 0.36%, compared with 0.00% for BALT.

What is the main difference between MOOD and BALT?

MOOD is categorized as Tactical Allocation, while BALT is Defined Outcome. They also come from different issuers: Alpha Architect and Innovator. Their fees differ too: 0.73% for MOOD and 0.69% for BALT.

Which has better risk-adjusted returns?

BALT currently has the higher Sharpe Ratio (2.91 vs 2.14), 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.