OCTJ vs. IQMM

Last updated Jun 4, 2026

OCTJ (Innovator Premium Income 30 Barrier ETF - October) and IQMM (ProShares GENIUS Money Market ETF) are both exchange-traded funds - OCTJ is a Options Trading fund actively managed by Innovator, while IQMM is a Money Market fund actively managed by ProShares. Both are actively managed. At a correlation of -0.33, they often move in opposite directions. OCTJ charges 0.79%/yr vs 0.15%/yr for IQMM.

Performance

OCTJ vs. IQMM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Premium Income 30 Barrier ETF - October (OCTJ) and ProShares GENIUS Money Market ETF (IQMM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

OCTJ

• 1D: -0.00%
• 1M: 0.44%
• YTD: 2.30%
• 6M: 3.00%
• 1Y: 5.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IQMM

• 1D: 0.01%
• 1M: 0.28%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OCTJ vs. IQMM - Yearly Performance Comparison

	2026 (YTD)
OCTJ Innovator Premium Income 30 Barrier ETF - October	2.04%
IQMM ProShares GENIUS Money Market ETF	0.98%

Correlation

The correlation between OCTJ and IQMM is -0.33, 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 (All Time) Calculated using the full available price history since Feb 20, 2026	-0.33

Return for Risk

OCTJ vs. IQMM — Risk / Return Rank

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

OCTJ

OCTJ Risk / Return Rank: 81
OCTJ Sharpe Ratio Rank: 68
OCTJ Sortino Ratio Rank: 78
OCTJ Omega Ratio Rank: 81
OCTJ Calmar Ratio Rank: 85
OCTJ Martin Ratio Rank: 92

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.

OCTJ vs. IQMM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Premium Income 30 Barrier ETF - October (OCTJ) and ProShares GENIUS Money Market ETF (IQMM). 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.

	OCTJ	IQMM	Difference
Sharpe ratio: Return per unit of total volatility	2.21	—	—
Sortino ratio: Return per unit of downside risk	3.46	—	—
Omega ratio: Gain probability vs. loss probability	1.48	—	—
Calmar ratio: Return relative to maximum drawdown	4.65	—	—
Martin ratio: Return relative to average drawdown	23.63	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	OCTJ	IQMM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.21	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.47	16.18	-14.71

Drawdowns

OCTJ vs. IQMM - Drawdown Comparison

The maximum OCTJ drawdown since its inception was -5.35%, which is greater than IQMM's maximum drawdown of -0.02%. Use the drawdown chart below to compare losses from any high point for OCTJ and IQMM.

Drawdown Indicators

	OCTJ	IQMM	Difference
Max Drawdown Largest peak-to-trough decline	-5.35%	-0.02%	-5.33%
Max Drawdown (1Y) Largest decline over 1 year	-1.25%	—	—
Current Drawdown Current decline from peak	-0.00%	-0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.16%	-0.00%	-0.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.24%	—	—

Volatility

Volatility by Period

	OCTJ	IQMM	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.52%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.95%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.62%	0.22%	+2.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.22%	0.22%	+4.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.22%	0.22%	+4.00%

OCTJ vs. IQMM - Expense Ratio Comparison

OCTJ has a 0.79% expense ratio, which is higher than IQMM's 0.15% expense ratio.

Dividends

OCTJ vs. IQMM - Dividend Comparison

OCTJ's dividend yield for the trailing twelve months is around 5.20%, more than IQMM's 0.94% yield.

Position	TTM	2025	2024	2023
IQMM ProShares GENIUS Money Market ETF	0.94%	0.00%	0.00%	0.00%
OCTJ Innovator Premium Income 30 Barrier ETF - October	5.20%	5.23%	6.27%	1.64%

Frequently Asked Questions

Can I hold both OCTJ and IQMM in my portfolio?

OCTJ and IQMM 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 ETF is better, OCTJ or IQMM?

On fees, IQMM is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, OCTJ or IQMM?

IQMM is cheaper with a 0.15% expense ratio, compared with 0.79% for OCTJ.

Which ETF pays a higher dividend yield, OCTJ or IQMM?

OCTJ has the higher dividend yield at 5.20%, compared with 0.94% for IQMM.

What is the main difference between OCTJ and IQMM?

OCTJ is categorized as Options Trading, while IQMM is Money Market. They also come from different issuers: Innovator and ProShares. Their fees differ too: 0.79% for OCTJ and 0.15% for IQMM.