PJUN vs. FAAR
PJUN (Innovator U.S. Equity Power Buffer ETF - June) and FAAR (First Trust Alternative Absolute Return Strategy ETF) are both exchange-traded funds - PJUN is a Defined Outcome fund tracking the S&P 500 Price Return Index, while FAAR is a Commodities fund actively managed by First Trust. PJUN is passively managed, while FAAR is actively managed. Over the past 5 years, PJUN returned 6.91%/yr vs 7.89%/yr for FAAR. At a 0.03 correlation, their price movements are largely independent. PJUN charges 0.79%/yr vs 0.95%/yr for FAAR.
Performance
PJUN vs. FAAR - Performance Comparison
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Returns By Period
In the year-to-date period, PJUN achieves a 3.06% return, which is significantly lower than FAAR's 20.23% return.
PJUN
- 1D
- -0.21%
- 1M
- -0.32%
- YTD
- 3.06%
- 6M
- 3.01%
- 1Y
- 10.72%
- 3Y*
- 11.28%
- 5Y*
- 6.91%
- 10Y*
- —
FAAR
- 1D
- -0.05%
- 1M
- -4.34%
- YTD
- 20.23%
- 6M
- 19.92%
- 1Y
- 26.86%
- 3Y*
- 10.91%
- 5Y*
- 7.89%
- 10Y*
- 4.79%
PJUN vs. FAAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
PJUN Innovator U.S. Equity Power Buffer ETF - June | 3.06% | 11.62% | 12.40% | 12.28% | -7.75% | 7.13% | 10.40% | 6.68% |
FAAR First Trust Alternative Absolute Return Strategy ETF | 20.23% | 8.07% | 5.97% | -5.63% | 10.15% | 12.34% | 8.60% | -1.69% |
Correlation
The correlation between PJUN and FAAR is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2019 | 0.03 |
The correlation between PJUN and FAAR shifts across timeframes, from -0.10 (1 year) to 0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PJUN vs. FAAR — Risk / Return Rank
PJUN
FAAR
PJUN vs. FAAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Power Buffer ETF - June (PJUN) and First Trust Alternative Absolute Return Strategy ETF (FAAR). 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.
| PJUN | FAAR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | +0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.35 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.86 | 4.75 | -0.89 |
| Martin ratioReturn relative to average drawdown | 20.14 | 14.70 | +5.44 |
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Drawdowns
PJUN vs. FAAR - Drawdown Comparison
The maximum PJUN drawdown since its inception was -16.31%, smaller than the maximum FAAR drawdown of -18.03%. Use the drawdown chart below to compare losses from any high point for PJUN and FAAR.
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Drawdown Indicators
| PJUN | FAAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.31% | -18.03% | +1.72% |
Max Drawdown (1Y)Largest decline over 1 year | -2.79% | -5.68% | +2.89% |
Max Drawdown (3Y)Largest decline over 3 years | -10.09% | -11.54% | +1.45% |
Max Drawdown (5Y)Largest decline over 5 years | -12.51% | -18.03% | +5.52% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.03% | — |
Current DrawdownCurrent decline from peak | -0.74% | -5.43% | +4.69% |
Average DrawdownAverage peak-to-trough decline | -1.86% | -7.82% | +5.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.53% | 1.89% | -1.36% |
Volatility
PJUN vs. FAAR - Volatility Comparison
Innovator U.S. Equity Power Buffer ETF - June (PJUN) and First Trust Alternative Absolute Return Strategy ETF (FAAR) have volatilities of 2.42% and 2.47%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PJUN | FAAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.42% | 2.47% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 3.99% | 9.68% | -5.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.90% | 13.37% | -8.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.24% | 12.95% | -4.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.72% | 11.53% | -1.81% |
PJUN vs. FAAR - Expense Ratio Comparison
PJUN has a 0.79% expense ratio, which is lower than FAAR's 0.95% expense ratio.
Dividends
PJUN vs. FAAR - Dividend Comparison
PJUN has not paid dividends to shareholders, while FAAR's dividend yield for the trailing twelve months is around 9.57%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FAAR First Trust Alternative Absolute Return Strategy ETF | 9.57% | 11.63% | 3.45% | 3.20% | 5.82% | 6.49% | 3.05% | 1.02% | 0.58% | 2.83% |
PJUN Innovator U.S. Equity Power Buffer ETF - June | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PJUN and FAAR have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FAAR has higher volatility (2.47%) compared to PJUN (2.42%). In terms of maximum drawdown, PJUN dropped -16.31% vs FAAR's -18.03%.
On 5-year performance, FAAR leads with 7.89% vs 6.91% for PJUN. On fees, PJUN is cheaper at 0.79% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FAAR has performed better with a 7.89% return vs 6.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PJUN is cheaper with a 0.79% expense ratio, compared with 0.95% for FAAR.
FAAR has the higher dividend yield at 9.57%, compared with 0.00% for PJUN.
PJUN is categorized as Defined Outcome, while FAAR is Commodities. They also come from different issuers: Innovator and First Trust. Their fees differ too: 0.79% for PJUN and 0.95% for FAAR.
PJUN currently has the higher Sharpe Ratio (2.20 vs 2.02), 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.
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