SLQD vs. AJAN
SLQD (iShares 0-5 Year Investment Grade Corporate Bond ETF) and AJAN (Innovator Equity Defined Protection ETF - 2 Yr To January 2026) are both exchange-traded funds - SLQD is a Corporate Bonds fund tracking the Markit iBoxx USD Liquid Investment Grade 0-5 Index, while AJAN is a Options Trading fund actively managed by Innovator. SLQD is passively managed, while AJAN is actively managed. Over the past year, SLQD returned 4.46% vs 6.01% for AJAN. At a 0.32 correlation, their price movements are largely independent. SLQD charges 0.06%/yr vs 0.79%/yr for AJAN.
Performance
SLQD vs. AJAN - Performance Comparison
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Returns By Period
In the year-to-date period, SLQD achieves a 0.84% return, which is significantly lower than AJAN's 1.94% return.
SLQD
- 1D
- -0.08%
- 1M
- 0.24%
- YTD
- 0.84%
- 6M
- 1.16%
- 1Y
- 4.46%
- 3Y*
- 5.35%
- 5Y*
- 2.52%
- 10Y*
- 2.66%
AJAN
- 1D
- -0.11%
- 1M
- 0.69%
- YTD
- 1.94%
- 6M
- 2.35%
- 1Y
- 6.01%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SLQD vs. AJAN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SLQD iShares 0-5 Year Investment Grade Corporate Bond ETF | 0.84% | 6.27% | 5.15% |
AJAN Innovator Equity Defined Protection ETF - 2 Yr To January 2026 | 1.94% | 6.12% | 7.78% |
Correlation
The correlation between SLQD and AJAN is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2024 | 0.32 |
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Return for Risk
SLQD vs. AJAN — Risk / Return Rank
SLQD
AJAN
SLQD vs. AJAN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 0-5 Year Investment Grade Corporate Bond ETF (SLQD) 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.
| SLQD | AJAN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.46 | ||
| Sortino ratioReturn per unit of downside risk | +0.88 | ||
| Omega ratioGain probability vs. loss probability | 1.62 | 1.57 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 4.22 | 2.69 | +1.53 |
| Martin ratioReturn relative to average drawdown | 19.08 | 13.54 | +5.55 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SLQD | AJAN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.02 | 2.56 | +0.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.04 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.85 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.85 | 1.74 | -0.89 |
Drawdowns
SLQD vs. AJAN - Drawdown Comparison
The maximum SLQD drawdown since its inception was -12.69%, which is greater than AJAN's maximum drawdown of -4.11%. Use the drawdown chart below to compare losses from any high point for SLQD and AJAN.
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Drawdown Indicators
| SLQD | AJAN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.69% | -4.11% | -8.58% |
Max Drawdown (1Y)Largest decline over 1 year | -1.06% | -2.24% | +1.18% |
Max Drawdown (3Y)Largest decline over 3 years | -1.06% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -7.63% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -12.69% | — | — |
Current DrawdownCurrent decline from peak | -0.13% | -0.18% | +0.05% |
Average DrawdownAverage peak-to-trough decline | -0.87% | -0.29% | -0.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.23% | 0.44% | -0.21% |
Volatility
SLQD vs. AJAN - Volatility Comparison
The current volatility for iShares 0-5 Year Investment Grade Corporate Bond ETF (SLQD) is 0.46%, while Innovator Equity Defined Protection ETF - 2 Yr To January 2026 (AJAN) has a volatility of 0.67%. This indicates that SLQD experiences smaller price fluctuations and is considered to be less risky than AJAN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLQD | AJAN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.46% | 0.67% | -0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 1.09% | 2.05% | -0.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.49% | 2.36% | -0.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.44% | 3.80% | -1.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.14% | 3.80% | -0.66% |
SLQD vs. AJAN - Expense Ratio Comparison
SLQD has a 0.06% expense ratio, which is lower than AJAN's 0.79% expense ratio.
Dividends
SLQD vs. AJAN - Dividend Comparison
SLQD's dividend yield for the trailing twelve months is around 4.32%, while AJAN has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AJAN Innovator Equity Defined Protection ETF - 2 Yr To January 2026 | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SLQD iShares 0-5 Year Investment Grade Corporate Bond ETF | 4.32% | 4.15% | 3.71% | 2.99% | 2.00% | 1.67% | 2.34% | 2.89% | 2.55% | 1.98% | 1.81% | 1.43% |
Frequently Asked Questions
SLQD and AJAN have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AJAN has higher volatility (0.67%) compared to SLQD (0.46%). In terms of maximum drawdown, SLQD dropped -12.69% vs AJAN's -4.11%.
On 1-year performance, AJAN leads with 6.01% vs 4.46% for SLQD. On fees, SLQD is cheaper at 0.06% per year. On volatility, SLQD has been the lower-risk option at 0.46%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, AJAN has performed better with a 6.01% return vs 4.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SLQD is cheaper with a 0.06% expense ratio, compared with 0.79% for AJAN.
SLQD has the higher dividend yield at 4.32%, compared with 0.00% for AJAN.
SLQD is categorized as Corporate Bonds, while AJAN is Options Trading. They also come from different issuers: iShares and Innovator. Their fees differ too: 0.06% for SLQD and 0.79% for AJAN.
SLQD currently has the higher Sharpe Ratio (3.02 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.
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