RWEM vs. EJAN

Last updated Aug 2, 2026

RWEM (Rayliant Wilshire NxtGen Emerging Markets Equity ETF) and EJAN (Innovator Emerging Markets Power Buffer ETF January) are both exchange-traded funds - RWEM is a Emerging Markets Equities fund tracking the FT Wilshire Emerging Large NxtGen Index, while EJAN is a Defined Outcome fund tracking the MSCI Emerging Markets Index. Both are passively managed. Over the past 3 years, RWEM returned 19.87%/yr vs 6.90%/yr for EJAN. Their 0.68 correlation means they have sometimes moved together and sometimes differently. RWEM charges 0.52%/yr vs 0.89%/yr for EJAN.

Performance

RWEM vs. EJAN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rayliant Wilshire NxtGen Emerging Markets Equity ETF (RWEM) and Innovator Emerging Markets Power Buffer ETF January (EJAN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RWEM achieves a 18.79% return, which is significantly higher than EJAN's 6.14% return.

RWEM

• 1D: 4.75%
• 1M: 2.58%
• 6M: 12.70%
• YTD: 18.79%
• 1Y: 37.77%
• 3Y*: 19.87%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.53%

EJAN

• 1D: 0.42%
• 1M: 0.75%
• 6M: 3.18%
• YTD: 6.14%
• 1Y: 11.50%
• 3Y*: 6.90%
• 5Y*: 3.53%
• 10Y*: —
• ALL TIME*: 4.32%

*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)
EJAN Innovator Emerging Markets Power Buffer ETF January	$267.44K	$193.23K	$472.80K
RWEM Rayliant Wilshire NxtGen Emerging Markets Equity ETF	$318.11K	$309.19K	$568.12K

RWEM vs. EJAN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
RWEM Rayliant Wilshire NxtGen Emerging Markets Equity ETF	18.79%	28.17%	7.24%	21.56%	-20.11%	0.16%
EJAN Innovator Emerging Markets Power Buffer ETF January	6.14%	14.78%	2.69%	5.37%	-8.01%	-0.12%

Correlation

The correlation between RWEM and EJAN is 0.40, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.40
Correlation (3Y) Balances recent behavior with more history.	0.58
Correlation (All Time) Calculated using the full available price history since Dec 16, 2021	0.68

Over the past year, the correlation between RWEM and EJAN has dropped to 0.40 - well below their long-term average of 0.68, suggesting their price drivers have been diverging.

RWEM vs. EJAN - Sectors Allocation Comparison

Sectors	RWEM	EJAN
Technology	41.1%	45.2%
Financial Services	18.1%	18.5%
Consumer Cyclical	9.1%	7.5%
Communication Services	7.9%	6.0%
Industrials	5.1%	6.3%
Basic Materials	4.7%	5.5%
Energy	4.1%	3.2%
Healthcare	3.7%	2.5%
Consumer Defensive	2.6%	2.6%
Utilities	2.1%	1.8%
Real Estate	0.3%	1.0%

Return for Risk

RWEM vs. EJAN — Risk / Return Rank

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

RWEM

RWEM Risk / Return Rank: 48
RWEM Sharpe Ratio Rank: 39
RWEM Sortino Ratio Rank: 39
RWEM Omega Ratio Rank: 42
RWEM Calmar Ratio Rank: 66
RWEM Martin Ratio Rank: 52

EJAN

EJAN Risk / Return Rank: 56
EJAN Sharpe Ratio Rank: 53
EJAN Sortino Ratio Rank: 53
EJAN Omega Ratio Rank: 67
EJAN Calmar Ratio Rank: 47
EJAN Martin Ratio Rank: 61

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.

RWEM vs. EJAN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rayliant Wilshire NxtGen Emerging Markets Equity ETF (RWEM) and Innovator Emerging Markets Power Buffer ETF January (EJAN). 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.

	RWEM	EJAN	Difference
Sharpe ratio: Return per unit of total volatility	0.97	1.30	-0.33
Sortino ratio: Return per unit of downside risk	1.47	1.87	-0.40
Omega ratio: Gain probability vs. loss probability	1.20	1.29	-0.09
Calmar ratio: Return relative to maximum drawdown	2.34	1.69	+0.65
Martin ratio: Return relative to average drawdown	6.05	7.40	-1.35

RWEM vs. EJAN - Sharpe Ratio Comparison

The current RWEM Sharpe Ratio is 0.97, which is comparable to the EJAN Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of RWEM and EJAN, 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

RWEM vs. EJAN - Drawdown Comparison

The maximum RWEM drawdown since its inception was -26.92%, which is greater than EJAN's maximum drawdown of -22.23%. Use the drawdown chart below to compare losses from any high point for RWEM and EJAN.

Drawdown Indicators

	RWEM	EJAN	Difference
Max Drawdown Largest peak-to-trough decline	-26.92%	-22.23%	-4.69%
Max Drawdown (1Y) Largest decline over 1 year	-15.39%	-6.63%	-8.76%
Max Drawdown (3Y) Largest decline over 3 years	-22.56%	-11.75%	-10.81%
Max Drawdown (5Y) Largest decline over 5 years	—	-20.84%	—
Current Drawdown Current decline from peak	-8.26%	-0.80%	-7.46%
Average Drawdown Average peak-to-trough decline	-9.58%	-5.67%	-3.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.93%	1.51%	+4.42%

Volatility

RWEM vs. EJAN - Volatility Comparison

Rayliant Wilshire NxtGen Emerging Markets Equity ETF (RWEM) has a higher volatility of 11.80% compared to Innovator Emerging Markets Power Buffer ETF January (EJAN) at 2.75%. This indicates that RWEM's price experiences larger fluctuations and is considered to be riskier than EJAN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RWEM	EJAN	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.80%	2.75%	+9.05%
Volatility (6M) Calculated over the trailing 6-month period	31.65%	8.21%	+23.44%
Volatility (1Y) Calculated over the trailing 1-year period	37.25%	8.64%	+28.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.91%	11.15%	+11.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.91%	12.63%	+10.28%

RWEM vs. EJAN - Expense Ratio Comparison

RWEM has a 0.52% expense ratio, which is lower than EJAN's 0.89% expense ratio.

Dividends

RWEM vs. EJAN - Dividend Comparison

RWEM's dividend yield for the trailing twelve months is around 1.81%, while EJAN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
EJAN Innovator Emerging Markets Power Buffer ETF January	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RWEM Rayliant Wilshire NxtGen Emerging Markets Equity ETF	1.81%	2.15%	3.59%	1.60%	5.59%	0.39%

Frequently Asked Questions

Can I hold both RWEM and EJAN in my portfolio?

RWEM and EJAN have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RWEM or EJAN?

RWEM has higher volatility (11.80%) compared to EJAN (2.75%). In terms of maximum drawdown, RWEM dropped -26.92% vs EJAN's -22.23%.

Which ETF is better, RWEM or EJAN?

On 3-year performance, RWEM leads with 19.87% vs 6.90% for EJAN. On fees, RWEM is cheaper at 0.52% per year. On volatility, EJAN has been the lower-risk option at 2.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RWEM or EJAN?

Over the 3-year period, RWEM has performed better with a 19.87% return vs 6.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RWEM or EJAN?

RWEM is cheaper with a 0.52% expense ratio, compared with 0.89% for EJAN.

Which ETF pays a higher dividend yield, RWEM or EJAN?

RWEM has the higher dividend yield at 1.81%, compared with 0.00% for EJAN.

What is the main difference between RWEM and EJAN?

RWEM is categorized as Emerging Markets Equities, while EJAN is Defined Outcome. RWEM tracks FT Wilshire Emerging Large NxtGen Index, while EJAN tracks MSCI Emerging Markets Index. They also come from different issuers: Rayliant and Innovator. Their fees differ too: 0.52% for RWEM and 0.89% for EJAN.

Which has better risk-adjusted returns?

EJAN currently has the higher Sharpe Ratio (1.30 vs 0.97), 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.