PSMR vs. BALT

Last updated Jun 21, 2026

PSMR (Pacer Swan SOS Moderate (April) ETF) and BALT (Innovator Defined Wealth Shield ETF) are both Defined Outcome funds. PSMR is actively managed, while BALT is passively managed. Over the past 3 years, PSMR returned 11.26%/yr vs 7.11%/yr for BALT. A 0.74 correlation means they provide meaningful diversification when combined. PSMR charges 0.61%/yr vs 0.69%/yr for BALT.

Performance

PSMR vs. BALT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Swan SOS Moderate (April) ETF (PSMR) and Innovator Defined Wealth Shield ETF (BALT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSMR achieves a 7.87% return, which is significantly higher than BALT's 2.21% return.

PSMR

• 1D: 0.41%
• 1M: 0.57%
• YTD: 7.87%
• 6M: 8.00%
• 1Y: 14.86%
• 3Y*: 11.26%
• 5Y*: 8.64%
• 10Y*: —

BALT

• 1D: 0.00%
• 1M: 0.47%
• YTD: 2.21%
• 6M: 2.54%
• 1Y: 6.93%
• 3Y*: 7.11%
• 5Y*: —
• 10Y*: —

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

PSMR vs. BALT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PSMR Pacer Swan SOS Moderate (April) ETF	7.87%	6.74%	11.99%	16.85%	-4.11%	3.67%
BALT Innovator Defined Wealth Shield ETF	2.21%	6.65%	9.98%	7.45%	2.54%	0.91%

Correlation

The correlation between PSMR and BALT is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (All Time) Calculated using the full available price history since Jul 1, 2021	0.74

The correlation between PSMR and BALT shifts across timeframes, from 0.60 (1 year) to 0.74 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PSMR vs. BALT — Risk / Return Rank

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

PSMR

PSMR Risk / Return Rank: 98
PSMR Sharpe Ratio Rank: 97
PSMR Sortino Ratio Rank: 98
PSMR Omega Ratio Rank: 97
PSMR Calmar Ratio Rank: 98
PSMR Martin Ratio Rank: 98

BALT

BALT Risk / Return Rank: 94
BALT Sharpe Ratio Rank: 93
BALT Sortino Ratio Rank: 95
BALT Omega Ratio Rank: 95
BALT Calmar Ratio Rank: 93
BALT Martin Ratio Rank: 93

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.

PSMR vs. BALT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Swan SOS Moderate (April) ETF (PSMR) 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.

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.

	PSMR	BALT	Difference
Sharpe ratio: Return per unit of total volatility	4.14	3.22	+0.91
Sortino ratio: Return per unit of downside risk	6.98	4.93	+2.05
Omega ratio: Gain probability vs. loss probability	1.94	1.69	+0.24
Calmar ratio: Return relative to maximum drawdown	13.64	6.04	+7.61
Martin ratio: Return relative to average drawdown	65.13	22.52	+42.61

PSMR vs. BALT - Sharpe Ratio Comparison

The current PSMR Sharpe Ratio is 4.14, which is comparable to the BALT Sharpe Ratio of 3.22. The chart below compares the historical Sharpe Ratios of PSMR and BALT, 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

PSMR vs. BALT - Drawdown Comparison

The maximum PSMR drawdown since its inception was -11.78%, which is greater than BALT's maximum drawdown of -4.89%. Use the drawdown chart below to compare losses from any high point for PSMR and BALT.

Drawdown Indicators

	PSMR	BALT	Difference
Max Drawdown Largest peak-to-trough decline	-11.78%	-4.89%	-6.89%
Max Drawdown (1Y) Largest decline over 1 year	-1.09%	-1.15%	+0.06%
Max Drawdown (3Y) Largest decline over 3 years	-11.78%	-4.89%	-6.89%
Max Drawdown (5Y) Largest decline over 5 years	-11.78%	—	—
Current Drawdown Current decline from peak	-0.08%	0.00%	-0.08%
Average Drawdown Average peak-to-trough decline	-1.65%	-0.34%	-1.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.23%	0.31%	-0.08%

Volatility

PSMR vs. BALT - Volatility Comparison

Pacer Swan SOS Moderate (April) ETF (PSMR) has a higher volatility of 1.39% compared to Innovator Defined Wealth Shield ETF (BALT) at 0.30%. This indicates that PSMR'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

	PSMR	BALT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.39%	0.30%	+1.09%
Volatility (6M) Calculated over the trailing 6-month period	2.75%	1.47%	+1.28%
Volatility (1Y) Calculated over the trailing 1-year period	3.60%	2.16%	+1.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.50%	3.30%	+5.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.40%	3.30%	+5.10%

PSMR vs. BALT - Expense Ratio Comparison

PSMR has a 0.61% expense ratio, which is lower than BALT's 0.69% expense ratio.

Dividends

PSMR vs. BALT - Dividend Comparison

Neither PSMR nor BALT has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both PSMR and BALT in my portfolio?

PSMR and BALT have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSMR or BALT?

PSMR has higher volatility (1.39%) compared to BALT (0.30%). In terms of maximum drawdown, PSMR dropped -11.78% vs BALT's -4.89%.

Which ETF is better, PSMR or BALT?

On 3-year performance, PSMR leads with 11.26% vs 7.11% for BALT. On fees, PSMR is cheaper at 0.61% per year. On volatility, BALT has been the lower-risk option at 0.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSMR or BALT?

Over the 3-year period, PSMR has performed better with a 11.26% return vs 7.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSMR or BALT?

PSMR is cheaper with a 0.61% expense ratio, compared with 0.69% for BALT.

Which ETF pays a higher dividend yield, PSMR or BALT?

PSMR and BALT have nearly identical dividend yields, around 0.00%.

What is the main difference between PSMR and BALT?

They also come from different issuers: Pacer and Innovator. Their fees differ too: 0.61% for PSMR and 0.69% for BALT.

Which has better risk-adjusted returns?

PSMR currently has the higher Sharpe Ratio (4.14 vs 3.22), 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.