PJUL vs. UXJA

Last updated Jun 3, 2026

PJUL (Innovator U.S. Equity Power Buffer ETF - July) and UXJA (FT Vest U.S. Equity Uncapped Accelerator ETF - January) are both Defined Outcome funds. PJUL is passively managed, while UXJA is actively managed. Over the past year, PJUL returned 15.92% vs 31.49% for UXJA. Their correlation of 0.93 suggests significant overlap in exposure. PJUL charges 0.79%/yr vs 0.85%/yr for UXJA.

Performance

PJUL vs. UXJA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Power Buffer ETF - July (PJUL) and FT Vest U.S. Equity Uncapped Accelerator ETF - January (UXJA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PJUL achieves a 4.63% return, which is significantly lower than UXJA's 12.41% return.

PJUL

• 1D: 0.10%
• 1M: 1.23%
• YTD: 4.63%
• 6M: 5.37%
• 1Y: 15.92%
• 3Y*: 13.91%
• 5Y*: 10.48%
• 10Y*: —

UXJA

• 1D: 0.14%
• 1M: 5.89%
• YTD: 12.41%
• 6M: 12.66%
• 1Y: 31.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PJUL vs. UXJA - Yearly Performance Comparison

	2026 (YTD)	2025
PJUL Innovator U.S. Equity Power Buffer ETF - July	4.63%	11.13%
UXJA FT Vest U.S. Equity Uncapped Accelerator ETF - January	12.41%	13.93%

Correlation

The correlation between PJUL and UXJA is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (All Time) Calculated using the full available price history since Jan 22, 2025	0.93

The correlation between PJUL and UXJA has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.

Return for Risk

PJUL vs. UXJA — Risk / Return Rank

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

PJUL

PJUL Risk / Return Rank: 88
PJUL Sharpe Ratio Rank: 85
PJUL Sortino Ratio Rank: 90
PJUL Omega Ratio Rank: 91
PJUL Calmar Ratio Rank: 83
PJUL Martin Ratio Rank: 93

UXJA

UXJA Risk / Return Rank: 68
UXJA Sharpe Ratio Rank: 70
UXJA Sortino Ratio Rank: 66
UXJA Omega Ratio Rank: 66
UXJA Calmar Ratio Rank: 64
UXJA Martin Ratio Rank: 73

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.

PJUL vs. UXJA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Power Buffer ETF - July (PJUL) and FT Vest U.S. Equity Uncapped Accelerator ETF - January (UXJA). 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.

	PJUL	UXJA	Difference
Sharpe ratio Return per unit of total volatility	2.82	2.34	+0.48
Sortino ratio Return per unit of downside risk	4.27	3.15	+1.12
Omega ratio Gain probability vs. loss probability	1.61	1.41	+0.20
Calmar ratio Return relative to maximum drawdown	4.51	3.24	+1.26
Martin ratio Return relative to average drawdown	24.83	14.01	+10.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PJUL vs. UXJA - Sharpe Ratio Comparison

The current PJUL Sharpe Ratio is 2.82, which is comparable to the UXJA Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of PJUL and UXJA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PJUL	UXJA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.82	2.34	+0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.22	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.89	1.08	-0.18

Drawdowns

PJUL vs. UXJA - Drawdown Comparison

The maximum PJUL drawdown since its inception was -18.17%, smaller than the maximum UXJA drawdown of -20.01%. Use the drawdown chart below to compare losses from any high point for PJUL and UXJA.

Drawdown Indicators

	PJUL	UXJA	Difference
Max Drawdown Largest peak-to-trough decline	-18.17%	-20.01%	+1.84%
Max Drawdown (1Y) Largest decline over 1 year	-3.64%	-9.83%	+6.19%
Max Drawdown (3Y) Largest decline over 3 years	-10.69%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-10.69%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.47%	-2.97%	+1.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.66%	2.27%	-1.61%

Volatility

PJUL vs. UXJA - Volatility Comparison

The current volatility for Innovator U.S. Equity Power Buffer ETF - July (PJUL) is 0.45%, while FT Vest U.S. Equity Uncapped Accelerator ETF - January (UXJA) has a volatility of 3.37%. This indicates that PJUL experiences smaller price fluctuations and is considered to be less risky than UXJA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PJUL	UXJA	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.45%	3.37%	-2.92%
Volatility (6M) Calculated over the trailing 6-month period	3.89%	10.05%	-6.16%
Volatility (1Y) Calculated over the trailing 1-year period	5.67%	13.52%	-7.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.60%	18.60%	-10.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.03%	18.60%	-8.57%

PJUL vs. UXJA - Expense Ratio Comparison

PJUL has a 0.79% expense ratio, which is lower than UXJA's 0.85% expense ratio.

Dividends

PJUL vs. UXJA - Dividend Comparison

Neither PJUL nor UXJA has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
PJUL Innovator U.S. Equity Power Buffer ETF - July	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.82%
UXJA FT Vest U.S. Equity Uncapped Accelerator ETF - January	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PJUL and UXJA in my portfolio?

With a correlation of 0.91, PJUL and UXJA move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, PJUL or UXJA?

UXJA has higher volatility (3.37%) compared to PJUL (0.45%). In terms of maximum drawdown, PJUL dropped -18.17% vs UXJA's -20.01%.

Which ETF is better, PJUL or UXJA?

On 1-year performance, UXJA leads with 31.49% vs 15.92% for PJUL. On fees, PJUL is cheaper at 0.79% per year. On volatility, PJUL has been the lower-risk option at 0.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PJUL or UXJA?

Over the 1-year period, UXJA has performed better with a 31.49% return vs 15.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PJUL or UXJA?

PJUL is cheaper with a 0.79% expense ratio, compared with 0.85% for UXJA.

Which ETF pays a higher dividend yield, PJUL or UXJA?

PJUL and UXJA have nearly identical dividend yields, around 0.00%.

What is the main difference between PJUL and UXJA?

They also come from different issuers: Innovator and First Trust. Their fees differ too: 0.79% for PJUL and 0.85% for UXJA.

Which has better risk-adjusted returns?

PJUL currently has the higher Sharpe Ratio (2.82 vs 2.34), 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.