RND vs. DDTL

Last updated Aug 2, 2026

RND (First Trust Bloomberg R&D Leaders ETF) and DDTL (Innovator Equity Dual Directional 10 Buffer ETF - July) are both exchange-traded funds - RND is a Large Cap Blend Equities fund tracking the Bloomberg R&D Leaders Select Index, while DDTL is a Defined Outcome fund tracking the SPDR S&P 500 ETF Trust (SPY). Both are passively managed. Over the past year, RND returned 17.17% vs 11.45% for DDTL. Their 0.77 correlation means they have sometimes moved together and sometimes differently. RND charges 0.60%/yr vs 0.79%/yr for DDTL.

Performance

RND vs. DDTL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Bloomberg R&D Leaders ETF (RND) and Innovator Equity Dual Directional 10 Buffer ETF - July (DDTL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RND achieves a 4.89% return, which is significantly lower than DDTL's 5.33% return.

RND

• 1D: 1.99%
• 1M: 0.33%
• 6M: 5.66%
• YTD: 4.89%
• 1Y: 17.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 24.23%

DDTL

• 1D: 0.34%
• 1M: 0.68%
• 6M: 4.65%
• YTD: 5.33%
• 1Y: 11.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 9.47%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DDTL Innovator Equity Dual Directional 10 Buffer ETF - July	$1.43M	$1.73M	$1.66M
RND First Trust Bloomberg R&D Leaders ETF	$65.35K	$87.28K	$86.04K

RND vs. DDTL - Yearly Performance Comparison

	2026 (YTD)	2025
RND First Trust Bloomberg R&D Leaders ETF	4.89%	13.32%
DDTL Innovator Equity Dual Directional 10 Buffer ETF - July	5.33%	4.70%

Correlation

The correlation between RND and DDTL is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.77
Correlation (All Time) Calculated using the full available price history since Jul 1, 2025	0.77

The correlation between RND and DDTL has been stable across timeframes, ranging from 0.77 to 0.77 - a consistent structural relationship.

Return for Risk

RND vs. DDTL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

RND

RND Risk / Return Rank: 33
RND Sharpe Ratio Rank: 35
RND Sortino Ratio Rank: 34
RND Omega Ratio Rank: 33
RND Calmar Ratio Rank: 29
RND Martin Ratio Rank: 34

DDTL

DDTL Risk / Return Rank: 84
DDTL Sharpe Ratio Rank: 81
DDTL Sortino Ratio Rank: 83
DDTL Omega Ratio Rank: 86
DDTL Calmar Ratio Rank: 79
DDTL Martin Ratio Rank: 90

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

RND vs. DDTL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Bloomberg R&D Leaders ETF (RND) and Innovator Equity Dual Directional 10 Buffer ETF - July (DDTL). 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.

	RND	DDTL	Difference
Sharpe ratio: Return per unit of total volatility	0.88	1.89	-1.01
Sortino ratio: Return per unit of downside risk	1.30	2.74	-1.44
Omega ratio: Gain probability vs. loss probability	1.16	1.38	-0.23
Calmar ratio: Return relative to maximum drawdown	0.97	2.85	-1.88
Martin ratio: Return relative to average drawdown	3.31	14.38	-11.07

RND vs. DDTL - Sharpe Ratio Comparison

The current RND Sharpe Ratio is 0.88, which is lower than the DDTL Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of RND and DDTL, 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

RND vs. DDTL - Drawdown Comparison

The maximum RND drawdown since its inception was -23.52%, which is greater than DDTL's maximum drawdown of -3.78%. Use the drawdown chart below to compare losses from any high point for RND and DDTL.

Drawdown Indicators

	RND	DDTL	Difference
Max Drawdown Largest peak-to-trough decline	-23.52%	-3.78%	-19.74%
Max Drawdown (1Y) Largest decline over 1 year	-15.56%	-3.78%	-11.78%
Current Drawdown Current decline from peak	-2.30%	-0.25%	-2.05%
Average Drawdown Average peak-to-trough decline	-3.69%	-0.45%	-3.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.54%	0.75%	+3.79%

Volatility

RND vs. DDTL - Volatility Comparison

First Trust Bloomberg R&D Leaders ETF (RND) has a higher volatility of 5.27% compared to Innovator Equity Dual Directional 10 Buffer ETF - July (DDTL) at 2.37%. This indicates that RND's price experiences larger fluctuations and is considered to be riskier than DDTL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RND	DDTL	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.27%	2.37%	+2.90%
Volatility (6M) Calculated over the trailing 6-month period	13.49%	4.38%	+9.11%
Volatility (1Y) Calculated over the trailing 1-year period	17.22%	5.72%	+11.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.11%	5.81%	+15.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.11%	5.81%	+15.30%

RND vs. DDTL - Expense Ratio Comparison

RND has a 0.60% expense ratio, which is lower than DDTL's 0.79% expense ratio.

Dividends

RND vs. DDTL - Dividend Comparison

Neither RND nor DDTL has paid dividends to shareholders.

Position	TTM	2025	2024
DDTL Innovator Equity Dual Directional 10 Buffer ETF - July	0.00%	0.00%	0.00%
RND First Trust Bloomberg R&D Leaders ETF	0.00%	0.00%	0.04%

Frequently Asked Questions

Can I hold both RND and DDTL in my portfolio?

RND and DDTL have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RND or DDTL?

RND has higher volatility (5.27%) compared to DDTL (2.37%). In terms of maximum drawdown, RND dropped -23.52% vs DDTL's -3.78%.

Which ETF is better, RND or DDTL?

On 1-year performance, RND leads with 17.17% vs 11.45% for DDTL. On fees, RND is cheaper at 0.60% per year. On volatility, DDTL has been the lower-risk option at 2.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RND or DDTL?

Over the 1-year period, RND has performed better with a 17.17% return vs 11.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RND or DDTL?

RND is cheaper with a 0.60% expense ratio, compared with 0.79% for DDTL.

Which ETF pays a higher dividend yield, RND or DDTL?

RND and DDTL have nearly identical dividend yields, around 0.00%.

What is the main difference between RND and DDTL?

RND is categorized as Large Cap Blend Equities, while DDTL is Defined Outcome. RND tracks Bloomberg R&D Leaders Select Index, while DDTL tracks SPDR S&P 500 ETF Trust (SPY). They also come from different issuers: First Trust and Innovator. Their fees differ too: 0.60% for RND and 0.79% for DDTL.

Which has better risk-adjusted returns?

DDTL currently has the higher Sharpe Ratio (1.89 vs 0.88), 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.