OCTW vs. BALT

Last updated Apr 2, 2026

Compare and contrast key facts about AllianzIM U.S. Equity Buffer20 Oct ETF (OCTW) and Innovator Defined Wealth Shield ETF (BALT).

OCTW and BALT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. OCTW is a passively managed fund by Allianz that tracks the performance of the SPDR S&P 500 ETF Trust. It was launched on Sep 30, 2020. BALT is a passively managed fund by Innovator that tracks the performance of the S&P 500. It was launched on Jun 30, 2021. Both OCTW and BALT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

OCTW vs. BALT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Equity Buffer20 Oct ETF (OCTW) and Innovator Defined Wealth Shield ETF (BALT). The values are adjusted to include any dividend payments, if applicable.

OCTW vs. BALT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
OCTW AllianzIM U.S. Equity Buffer20 Oct ETF	-0.95%	9.68%	8.67%	17.57%	0.54%	3.30%
BALT Innovator Defined Wealth Shield ETF	-0.00%	6.65%	9.98%	7.45%	2.54%	0.82%

Returns By Period

OCTW

• 1D: 0.42%
• 1M: -1.55%
• YTD: -0.95%
• 6M: 0.51%
• 1Y: 9.74%
• 3Y*: 9.86%
• 5Y*: 7.86%
• 10Y*: —

BALT

• 1D: 0.13%
• 1M: -0.77%
• YTD: -0.00%
• 6M: 2.06%
• 1Y: 6.74%
• 3Y*: 7.16%
• 5Y*: —
• 10Y*: —

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

OCTW vs. BALT - Expense Ratio Comparison

OCTW has a 0.74% expense ratio, which is higher than BALT's 0.69% expense ratio.

OCTW

AllianzIM U.S. Equity Buffer20 Oct ETF

BALT

Innovator Defined Wealth Shield ETF

Return for Risk

OCTW vs. BALT — Risk / Return Rank

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

OCTW

OCTW Risk / Return Rank: 69
OCTW Sharpe Ratio Rank: 66
OCTW Sortino Ratio Rank: 68
OCTW Omega Ratio Rank: 75
OCTW Calmar Ratio Rank: 61
OCTW Martin Ratio Rank: 77

BALT

BALT Risk / Return Rank: 84
BALT Sharpe Ratio Rank: 79
BALT Sortino Ratio Rank: 85
BALT Omega Ratio Rank: 93
BALT Calmar Ratio Rank: 73
BALT Martin Ratio Rank: 91

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.

OCTW vs. BALT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Equity Buffer20 Oct ETF (OCTW) 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.

	OCTW	BALT	Difference
Sharpe ratio Return per unit of total volatility	1.22	1.51	-0.29
Sortino ratio Return per unit of downside risk	1.80	2.32	-0.52
Omega ratio Gain probability vs. loss probability	1.30	1.43	-0.14
Calmar ratio Return relative to maximum drawdown	1.70	1.95	-0.24
Martin ratio Return relative to average drawdown	9.08	12.95	-3.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OCTW vs. BALT - Sharpe Ratio Comparison

The current OCTW Sharpe Ratio is 1.22, which is comparable to the BALT Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of OCTW and BALT, 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

	OCTW	BALT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.22	1.51	-0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.26	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.34	1.71	-0.37

Correlation

The correlation between OCTW and BALT is 0.70, 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

OCTW vs. BALT - Dividend Comparison

Neither OCTW nor BALT has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

OCTW vs. BALT - Drawdown Comparison

The maximum OCTW drawdown since its inception was -8.38%, which is greater than BALT's maximum drawdown of -4.89%. Use the drawdown chart below to compare losses from any high point for OCTW and BALT.

Drawdown Indicators

	OCTW	BALT	Difference
Max Drawdown Largest peak-to-trough decline	-8.38%	-4.89%	-3.49%
Max Drawdown (1Y) Largest decline over 1 year	-5.86%	-3.48%	-2.38%
Max Drawdown (5Y) Largest decline over 5 years	-8.38%	—	—
Current Drawdown Current decline from peak	-1.93%	-0.92%	-1.01%
Average Drawdown Average peak-to-trough decline	-0.84%	-0.35%	-0.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.10%	0.52%	+0.58%

Volatility

OCTW vs. BALT - Volatility Comparison

AllianzIM U.S. Equity Buffer20 Oct ETF (OCTW) has a higher volatility of 2.45% compared to Innovator Defined Wealth Shield ETF (BALT) at 0.62%. This indicates that OCTW'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

	OCTW	BALT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.45%	0.62%	+1.83%
Volatility (6M) Calculated over the trailing 6-month period	4.09%	1.84%	+2.25%
Volatility (1Y) Calculated over the trailing 1-year period	8.04%	4.48%	+3.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.25%	3.36%	+2.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.19%	3.36%	+2.83%