SIXJ vs. AJAN

Last updated Jun 4, 2026

SIXJ (AllianzIM U.S. Large Cap 6 Month Buffer10 Jan/Jul ETF) and AJAN (Innovator Equity Defined Protection ETF - 2 Yr To January 2026) are both Options Trading funds. SIXJ is passively managed, while AJAN is actively managed. Over the past year, SIXJ returned 16.93% vs 6.01% for AJAN. A 0.72 correlation means they provide meaningful diversification when combined. SIXJ charges 0.74%/yr vs 0.79%/yr for AJAN.

Performance

SIXJ vs. AJAN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Large Cap 6 Month Buffer10 Jan/Jul ETF (SIXJ) and Innovator Equity Defined Protection ETF - 2 Yr To January 2026 (AJAN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SIXJ achieves a 5.77% return, which is significantly higher than AJAN's 1.94% return.

SIXJ

• 1D: -0.00%
• 1M: 2.04%
• YTD: 5.77%
• 6M: 6.85%
• 1Y: 16.93%
• 3Y*: 13.88%
• 5Y*: —
• 10Y*: —

AJAN

• 1D: -0.11%
• 1M: 0.69%
• YTD: 1.94%
• 6M: 2.35%
• 1Y: 6.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SIXJ vs. AJAN - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SIXJ AllianzIM U.S. Large Cap 6 Month Buffer10 Jan/Jul ETF	5.77%	12.81%	12.50%
AJAN Innovator Equity Defined Protection ETF - 2 Yr To January 2026	1.94%	6.12%	7.78%

Correlation

The correlation between SIXJ and AJAN is 0.71, 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	0.71
Correlation (All Time) Calculated using the full available price history since Jan 3, 2024	0.72

The correlation between SIXJ and AJAN has been stable across timeframes, ranging from 0.71 to 0.72 - a consistent structural relationship.

Return for Risk

SIXJ vs. AJAN — Risk / Return Rank

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

SIXJ

SIXJ Risk / Return Rank: 87
SIXJ Sharpe Ratio Rank: 87
SIXJ Sortino Ratio Rank: 91
SIXJ Omega Ratio Rank: 92
SIXJ Calmar Ratio Rank: 75
SIXJ Martin Ratio Rank: 90

AJAN

AJAN Risk / Return Rank: 77
AJAN Sharpe Ratio Rank: 78
AJAN Sortino Ratio Rank: 88
AJAN Omega Ratio Rank: 89
AJAN Calmar Ratio Rank: 55
AJAN 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.

SIXJ vs. AJAN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Large Cap 6 Month Buffer10 Jan/Jul ETF (SIXJ) and Innovator Equity Defined Protection ETF - 2 Yr To January 2026 (AJAN). 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.

	SIXJ	AJAN	Difference
Sharpe ratio: Return per unit of total volatility	2.91	2.56	+0.35
Sortino ratio: Return per unit of downside risk	4.27	4.00	+0.27
Omega ratio: Gain probability vs. loss probability	1.61	1.57	+0.04
Calmar ratio: Return relative to maximum drawdown	3.75	2.69	+1.06
Martin ratio: Return relative to average drawdown	20.41	13.54	+6.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SIXJ vs. AJAN - Sharpe Ratio Comparison

The current SIXJ Sharpe Ratio is 2.91, which is comparable to the AJAN Sharpe Ratio of 2.56. The chart below compares the historical Sharpe Ratios of SIXJ and AJAN, 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

	SIXJ	AJAN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.91	2.56	+0.35
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	1.74	-0.87

Drawdowns

SIXJ vs. AJAN - Drawdown Comparison

The maximum SIXJ drawdown since its inception was -14.07%, which is greater than AJAN's maximum drawdown of -4.11%. Use the drawdown chart below to compare losses from any high point for SIXJ and AJAN.

Drawdown Indicators

	SIXJ	AJAN	Difference
Max Drawdown Largest peak-to-trough decline	-14.07%	-4.11%	-9.96%
Max Drawdown (1Y) Largest decline over 1 year	-4.53%	-2.24%	-2.29%
Max Drawdown (3Y) Largest decline over 3 years	-10.89%	—	—
Current Drawdown Current decline from peak	-0.00%	-0.18%	+0.18%
Average Drawdown Average peak-to-trough decline	-2.87%	-0.29%	-2.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.83%	0.44%	+0.39%

Volatility

SIXJ vs. AJAN - Volatility Comparison

AllianzIM U.S. Large Cap 6 Month Buffer10 Jan/Jul ETF (SIXJ) has a higher volatility of 0.75% compared to Innovator Equity Defined Protection ETF - 2 Yr To January 2026 (AJAN) at 0.67%. This indicates that SIXJ's price experiences larger fluctuations and is considered to be riskier than AJAN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIXJ	AJAN	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.75%	0.67%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	4.60%	2.05%	+2.55%
Volatility (1Y) Calculated over the trailing 1-year period	5.84%	2.36%	+3.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.02%	3.80%	+6.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.02%	3.80%	+6.22%

SIXJ vs. AJAN - Expense Ratio Comparison

SIXJ has a 0.74% expense ratio, which is lower than AJAN's 0.79% expense ratio.

Dividends

SIXJ vs. AJAN - Dividend Comparison

Neither SIXJ nor AJAN has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SIXJ and AJAN in my portfolio?

SIXJ and AJAN have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SIXJ or AJAN?

SIXJ has higher volatility (0.75%) compared to AJAN (0.67%). In terms of maximum drawdown, SIXJ dropped -14.07% vs AJAN's -4.11%.

Which ETF is better, SIXJ or AJAN?

On 1-year performance, SIXJ leads with 16.93% vs 6.01% for AJAN. On fees, SIXJ is cheaper at 0.74% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SIXJ or AJAN?

Over the 1-year period, SIXJ has performed better with a 16.93% return vs 6.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SIXJ or AJAN?

SIXJ is cheaper with a 0.74% expense ratio, compared with 0.79% for AJAN.

Which ETF pays a higher dividend yield, SIXJ or AJAN?

SIXJ and AJAN have nearly identical dividend yields, around 0.00%.

What is the main difference between SIXJ and AJAN?

They also come from different issuers: Allianz and Innovator. Their fees differ too: 0.74% for SIXJ and 0.79% for AJAN.

Which has better risk-adjusted returns?

SIXJ currently has the higher Sharpe Ratio (2.91 vs 2.56), 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.