TENJ vs. BAPR
TENJ (iShares Large Cap 10% Target Buffer Jun ETF) and BAPR (Innovator U.S. Equity Buffer ETF - April) are both Defined Outcome funds. TENJ is actively managed, while BAPR is passively managed. Their correlation of 0.93 suggests significant overlap in exposure. TENJ charges 0.50%/yr vs 0.79%/yr for BAPR.
Performance
TENJ vs. BAPR - Performance Comparison
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Returns By Period
In the year-to-date period, TENJ achieves a 7.91% return, which is significantly lower than BAPR's 10.78% return.
TENJ
- 1D
- -0.15%
- 1M
- 0.86%
- YTD
- 7.91%
- 6M
- 7.71%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BAPR
- 1D
- -0.05%
- 1M
- 0.61%
- YTD
- 10.78%
- 6M
- 10.81%
- 1Y
- 19.95%
- 3Y*
- 14.74%
- 5Y*
- 11.03%
- 10Y*
- —
TENJ vs. BAPR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TENJ iShares Large Cap 10% Target Buffer Jun ETF | 7.91% | 2.22% |
BAPR Innovator U.S. Equity Buffer ETF - April | 10.78% | 1.80% |
Correlation
The correlation between TENJ and BAPR is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 22, 2025 | 0.93 |
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Return for Risk
TENJ vs. BAPR — Risk / Return Rank
TENJ
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BAPR
TENJ vs. BAPR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Large Cap 10% Target Buffer Jun ETF (TENJ) and Innovator U.S. Equity Buffer ETF - April (BAPR). 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.
| TENJ | BAPR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.83 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 10.37 | — |
| Martin ratioReturn relative to average drawdown | — | 51.30 | — |
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Drawdowns
TENJ vs. BAPR - Drawdown Comparison
The maximum TENJ drawdown since its inception was -5.51%, smaller than the maximum BAPR drawdown of -23.91%. Use the drawdown chart below to compare losses from any high point for TENJ and BAPR.
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Drawdown Indicators
| TENJ | BAPR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.51% | -23.91% | +18.40% |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.93% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -15.58% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.58% | — |
Current DrawdownCurrent decline from peak | -0.31% | -0.26% | -0.05% |
Average DrawdownAverage peak-to-trough decline | -0.82% | -2.58% | +1.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.39% | — |
Volatility
TENJ vs. BAPR - Volatility Comparison
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Volatility by Period
| TENJ | BAPR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.93% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 4.85% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 8.48% | 5.76% | +2.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.48% | 11.51% | -3.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.48% | 13.09% | -4.61% |
TENJ vs. BAPR - Expense Ratio Comparison
TENJ has a 0.50% expense ratio, which is lower than BAPR's 0.79% expense ratio.
Dividends
TENJ vs. BAPR - Dividend Comparison
TENJ's dividend yield for the trailing twelve months is around 0.26%, while BAPR has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
BAPR Innovator U.S. Equity Buffer ETF - April | 0.00% | 0.00% |
TENJ iShares Large Cap 10% Target Buffer Jun ETF | 0.26% | 0.28% |
Frequently Asked Questions
With a correlation of 0.93, TENJ and BAPR move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, TENJ is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TENJ is cheaper with a 0.50% expense ratio, compared with 0.79% for BAPR.
TENJ has the higher dividend yield at 0.26%, compared with 0.00% for BAPR.
They also come from different issuers: BlackRock and Innovator. Their fees differ too: 0.50% for TENJ and 0.79% for BAPR.
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