NJAN vs. IBID

Last updated Jun 23, 2026

NJAN (Innovator Growth-100 Power Buffer ETF - January) and IBID (iShares iBonds Oct 2027 Term TIPS ETF) are both exchange-traded funds - NJAN is a Defined Outcome fund tracking the NASDAQ-100 Index, while IBID is a Inflation-Protected Bonds fund tracking the ICE 2027 Maturity US Inflation-Linked Treasury Index. Both are passively managed. Over the past year, NJAN returned 18.68% vs 4.04% for IBID. At a correlation of -0.04, they often move in opposite directions. NJAN charges 0.79%/yr vs 0.10%/yr for IBID.

Performance

NJAN vs. IBID - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Growth-100 Power Buffer ETF - January (NJAN) and iShares iBonds Oct 2027 Term TIPS ETF (IBID). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NJAN achieves a 7.18% return, which is significantly higher than IBID's 1.99% return.

NJAN

• 1D: -0.01%
• 1M: 0.52%
• YTD: 7.18%
• 6M: 7.53%
• 1Y: 18.68%
• 3Y*: 13.94%
• 5Y*: 7.81%
• 10Y*: —

IBID

• 1D: 0.00%
• 1M: -0.19%
• YTD: 1.99%
• 6M: 2.08%
• 1Y: 4.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NJAN vs. IBID - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NJAN Innovator Growth-100 Power Buffer ETF - January	7.18%	14.20%	15.35%	2.36%
IBID iShares iBonds Oct 2027 Term TIPS ETF	1.99%	5.66%	4.71%	2.61%

Correlation

The correlation between NJAN and IBID is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.16
Correlation (All Time) Calculated using the full available price history since Sep 15, 2023	-0.04

The correlation between NJAN and IBID shifts across timeframes, from -0.16 (1 year) to -0.04 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NJAN vs. IBID — Risk / Return Rank

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

NJAN

NJAN Risk / Return Rank: 81
NJAN Sharpe Ratio Rank: 84
NJAN Sortino Ratio Rank: 86
NJAN Omega Ratio Rank: 88
NJAN Calmar Ratio Rank: 66
NJAN Martin Ratio Rank: 79

IBID

IBID Risk / Return Rank: 95
IBID Sharpe Ratio Rank: 93
IBID Sortino Ratio Rank: 96
IBID Omega Ratio Rank: 96
IBID Calmar Ratio Rank: 96
IBID Martin Ratio Rank: 95

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.

NJAN vs. IBID - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Growth-100 Power Buffer ETF - January (NJAN) and iShares iBonds Oct 2027 Term TIPS ETF (IBID). 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.

	NJAN	IBID	Difference
Sharpe ratio: Return per unit of total volatility	2.60	3.29	-0.69
Sortino ratio: Return per unit of downside risk	3.69	5.55	-1.87
Omega ratio: Gain probability vs. loss probability	1.52	1.75	-0.22
Calmar ratio: Return relative to maximum drawdown	3.18	8.22	-5.04
Martin ratio: Return relative to average drawdown	15.05	30.99	-15.94

NJAN vs. IBID - Sharpe Ratio Comparison

The current NJAN Sharpe Ratio is 2.60, which is comparable to the IBID Sharpe Ratio of 3.29. The chart below compares the historical Sharpe Ratios of NJAN and IBID, 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

NJAN vs. IBID - Drawdown Comparison

The maximum NJAN drawdown since its inception was -20.70%, which is greater than IBID's maximum drawdown of -1.28%. Use the drawdown chart below to compare losses from any high point for NJAN and IBID.

Drawdown Indicators

	NJAN	IBID	Difference
Max Drawdown Largest peak-to-trough decline	-20.70%	-1.28%	-19.42%
Max Drawdown (1Y) Largest decline over 1 year	-5.90%	-0.49%	-5.41%
Max Drawdown (3Y) Largest decline over 3 years	-13.14%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.70%	—	—
Current Drawdown Current decline from peak	-0.30%	-0.49%	+0.19%
Average Drawdown Average peak-to-trough decline	-3.79%	-0.22%	-3.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.24%	0.13%	+1.11%

Volatility

NJAN vs. IBID - Volatility Comparison

Innovator Growth-100 Power Buffer ETF - January (NJAN) has a higher volatility of 2.25% compared to iShares iBonds Oct 2027 Term TIPS ETF (IBID) at 0.35%. This indicates that NJAN's price experiences larger fluctuations and is considered to be riskier than IBID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NJAN	IBID	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.25%	0.35%	+1.90%
Volatility (6M) Calculated over the trailing 6-month period	6.09%	0.86%	+5.23%
Volatility (1Y) Calculated over the trailing 1-year period	7.24%	1.23%	+6.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.32%	2.24%	+10.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.90%	2.24%	+10.66%

NJAN vs. IBID - Expense Ratio Comparison

NJAN has a 0.79% expense ratio, which is higher than IBID's 0.10% expense ratio.

Dividends

NJAN vs. IBID - Dividend Comparison

NJAN has not paid dividends to shareholders, while IBID's dividend yield for the trailing twelve months is around 3.68%.

Position	TTM	2025	2024	2023
IBID iShares iBonds Oct 2027 Term TIPS ETF	3.68%	4.43%	4.24%	0.81%
NJAN Innovator Growth-100 Power Buffer ETF - January	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NJAN and IBID in my portfolio?

NJAN and IBID have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NJAN or IBID?

NJAN has higher volatility (2.25%) compared to IBID (0.35%). In terms of maximum drawdown, NJAN dropped -20.70% vs IBID's -1.28%.

Which ETF is better, NJAN or IBID?

On 1-year performance, NJAN leads with 18.68% vs 4.04% for IBID. On fees, IBID is cheaper at 0.10% per year. On volatility, IBID has been the lower-risk option at 0.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NJAN or IBID?

Over the 1-year period, NJAN has performed better with a 18.68% return vs 4.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NJAN or IBID?

IBID is cheaper with a 0.10% expense ratio, compared with 0.79% for NJAN.

Which ETF pays a higher dividend yield, NJAN or IBID?

IBID has the higher dividend yield at 3.68%, compared with 0.00% for NJAN.

What is the main difference between NJAN and IBID?

NJAN is categorized as Defined Outcome, while IBID is Inflation-Protected Bonds. NJAN tracks NASDAQ-100 Index, while IBID tracks ICE 2027 Maturity US Inflation-Linked Treasury Index. They also come from different issuers: Innovator and iShares. Their fees differ too: 0.79% for NJAN and 0.10% for IBID.

Which has better risk-adjusted returns?

IBID currently has the higher Sharpe Ratio (3.29 vs 2.60), 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.