TENJ vs. PAPR
TENJ (iShares Large Cap 10% Target Buffer Jun ETF) and PAPR (Innovator U.S. Equity Power Buffer ETF - April) are both Defined Outcome funds. TENJ is actively managed, while PAPR is passively managed. Their correlation of 0.84 suggests significant overlap in exposure. TENJ charges 0.50%/yr vs 0.79%/yr for PAPR.
Performance
TENJ vs. PAPR - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with TENJ having a 7.91% return and PAPR slightly lower at 7.62%.
TENJ
- 1D
- -0.15%
- 1M
- 0.86%
- YTD
- 7.91%
- 6M
- 7.71%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PAPR
- 1D
- -0.21%
- 1M
- 0.21%
- YTD
- 7.62%
- 6M
- 7.71%
- 1Y
- 14.71%
- 3Y*
- 11.25%
- 5Y*
- 8.20%
- 10Y*
- —
TENJ vs. PAPR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TENJ iShares Large Cap 10% Target Buffer Jun ETF | 7.91% | 2.22% |
PAPR Innovator U.S. Equity Power Buffer ETF - April | 7.62% | 1.66% |
Correlation
The correlation between TENJ and PAPR is 0.84, 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 | 0.84 |
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Return for Risk
TENJ vs. PAPR — Risk / Return Rank
TENJ
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
PAPR
TENJ vs. PAPR - 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 Power Buffer ETF - April (PAPR). 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 | PAPR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 2.05 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 12.74 | — |
| Martin ratioReturn relative to average drawdown | — | 66.73 | — |
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Drawdowns
TENJ vs. PAPR - Drawdown Comparison
The maximum TENJ drawdown since its inception was -5.51%, smaller than the maximum PAPR drawdown of -15.31%. Use the drawdown chart below to compare losses from any high point for TENJ and PAPR.
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Drawdown Indicators
| TENJ | PAPR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.51% | -15.31% | +9.80% |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.16% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -11.87% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -11.87% | — |
Current DrawdownCurrent decline from peak | -0.31% | -0.31% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.82% | -1.56% | +0.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.22% | — |
Volatility
TENJ vs. PAPR - Volatility Comparison
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Volatility by Period
| TENJ | PAPR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.40% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.75% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 8.48% | 3.42% | +5.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.48% | 8.22% | +0.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.48% | 9.42% | -0.94% |
TENJ vs. PAPR - Expense Ratio Comparison
TENJ has a 0.50% expense ratio, which is lower than PAPR's 0.79% expense ratio.
Dividends
TENJ vs. PAPR - Dividend Comparison
TENJ's dividend yield for the trailing twelve months is around 0.26%, while PAPR has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
PAPR Innovator U.S. Equity Power Buffer ETF - April | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 3.07% |
TENJ iShares Large Cap 10% Target Buffer Jun ETF | 0.26% | 0.28% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TENJ and PAPR have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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 PAPR.
TENJ has the higher dividend yield at 0.26%, compared with 0.00% for PAPR.
They also come from different issuers: BlackRock and Innovator. Their fees differ too: 0.50% for TENJ and 0.79% for PAPR.
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