SMMU vs. XTJL

Last updated Apr 2, 2026

Compare and contrast key facts about PIMCO Short Term Municipal Bond Active ETF (SMMU) and Innovator U.S. Equity Accelerated Plus ETF - July (XTJL).

SMMU and XTJL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SMMU is an actively managed fund by PIMCO. It was launched on Feb 1, 2010. XTJL is an actively managed fund by Innovator. It was launched on Jul 1, 2021.

Performance

SMMU vs. XTJL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Short Term Municipal Bond Active ETF (SMMU) and Innovator U.S. Equity Accelerated Plus ETF - July (XTJL). The values are adjusted to include any dividend payments, if applicable.

SMMU vs. XTJL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SMMU PIMCO Short Term Municipal Bond Active ETF	0.53%	4.06%	2.68%	4.39%	-2.45%	-0.11%
XTJL Innovator U.S. Equity Accelerated Plus ETF - July	-0.71%	15.42%	14.43%	25.72%	-15.66%	7.28%

Returns By Period

In the year-to-date period, SMMU achieves a 0.53% return, which is significantly higher than XTJL's -0.71% return.

SMMU

• 1D: 0.04%
• 1M: -0.45%
• YTD: 0.53%
• 6M: 1.17%
• 1Y: 3.64%
• 3Y*: 3.42%
• 5Y*: 1.85%
• 10Y*: 1.81%

XTJL

• 1D: 0.66%
• 1M: -1.72%
• YTD: -0.71%
• 6M: 1.81%
• 1Y: 16.00%
• 3Y*: 14.59%
• 5Y*: —
• 10Y*: —

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

SMMU vs. XTJL - Expense Ratio Comparison

SMMU has a 0.35% expense ratio, which is lower than XTJL's 0.79% expense ratio.

XTJL

Innovator U.S. Equity Accelerated Plus ETF - July

SMMU

PIMCO Short Term Municipal Bond Active ETF

Return for Risk

SMMU vs. XTJL — Risk / Return Rank

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

SMMU

SMMU Risk / Return Rank: 85
SMMU Sharpe Ratio Rank: 90
SMMU Sortino Ratio Rank: 87
SMMU Omega Ratio Rank: 97
SMMU Calmar Ratio Rank: 70
SMMU Martin Ratio Rank: 83

XTJL

XTJL Risk / Return Rank: 55
XTJL Sharpe Ratio Rank: 45
XTJL Sortino Ratio Rank: 50
XTJL Omega Ratio Rank: 72
XTJL Calmar Ratio Rank: 41
XTJL Martin Ratio Rank: 66

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.

SMMU vs. XTJL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Short Term Municipal Bond Active ETF (SMMU) and Innovator U.S. Equity Accelerated Plus ETF - July (XTJL). 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.

	SMMU	XTJL	Difference
Sharpe ratio Return per unit of total volatility	2.06	0.88	+1.17
Sortino ratio Return per unit of downside risk	2.47	1.41	+1.06
Omega ratio Gain probability vs. loss probability	1.58	1.28	+0.29
Calmar ratio Return relative to maximum drawdown	1.93	1.18	+0.74
Martin ratio Return relative to average drawdown	9.89	7.45	+2.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMMU vs. XTJL - Sharpe Ratio Comparison

The current SMMU Sharpe Ratio is 2.06, which is higher than the XTJL Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of SMMU and XTJL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SMMU	XTJL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.06	0.88	+1.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.12	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.57	+0.02

Correlation

The correlation between SMMU and XTJL is 0.12, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

SMMU vs. XTJL - Dividend Comparison

SMMU's dividend yield for the trailing twelve months is around 2.80%, while XTJL has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SMMU PIMCO Short Term Municipal Bond Active ETF	2.80%	2.80%	3.03%	2.79%	1.37%	0.60%	1.19%	1.82%	1.57%	1.41%	1.03%	0.89%
XTJL Innovator U.S. Equity Accelerated Plus ETF - July	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

SMMU vs. XTJL - Drawdown Comparison

The maximum SMMU drawdown since its inception was -5.09%, smaller than the maximum XTJL drawdown of -23.24%. Use the drawdown chart below to compare losses from any high point for SMMU and XTJL.

Drawdown Indicators

	SMMU	XTJL	Difference
Max Drawdown Largest peak-to-trough decline	-5.09%	-23.24%	+18.15%
Max Drawdown (1Y) Largest decline over 1 year	-1.95%	-13.81%	+11.86%
Max Drawdown (5Y) Largest decline over 5 years	-4.76%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-5.09%	—	—
Current Drawdown Current decline from peak	-0.59%	-2.12%	+1.53%
Average Drawdown Average peak-to-trough decline	-0.55%	-4.18%	+3.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.38%	2.19%	-1.81%

Volatility

SMMU vs. XTJL - Volatility Comparison

The current volatility for PIMCO Short Term Municipal Bond Active ETF (SMMU) is 0.52%, while Innovator U.S. Equity Accelerated Plus ETF - July (XTJL) has a volatility of 4.50%. This indicates that SMMU experiences smaller price fluctuations and is considered to be less risky than XTJL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMMU	XTJL	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.52%	4.50%	-3.98%
Volatility (6M) Calculated over the trailing 6-month period	0.74%	6.30%	-5.56%
Volatility (1Y) Calculated over the trailing 1-year period	1.78%	18.18%	-16.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.67%	15.46%	-13.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.75%	15.46%	-12.71%