TJAN vs. IVVB
TJAN (Innovator Equity Defined Protection ETF - 2 Yr To January 2027) and IVVB (iShares Large Cap Deep Buffer ETF) are both Options Trading funds. Both are actively managed. Over the past year, TJAN returned 6.84% vs 12.15% for IVVB. Their correlation of 0.81 suggests significant overlap in exposure. TJAN charges 0.79%/yr vs 0.50%/yr for IVVB.
Performance
TJAN vs. IVVB - Performance Comparison
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Returns By Period
In the year-to-date period, TJAN achieves a 3.42% return, which is significantly lower than IVVB's 5.03% return.
TJAN
- 1D
- 0.09%
- 1M
- 0.55%
- 6M
- 3.53%
- YTD
- 3.42%
- 1Y
- 6.84%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 7.04%
IVVB
- 1D
- 0.60%
- 1M
- 0.47%
- 6M
- 5.40%
- YTD
- 5.03%
- 1Y
- 12.15%
- 3Y*
- 11.39%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 11.69%
TJAN vs. IVVB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TJAN Innovator Equity Defined Protection ETF - 2 Yr To January 2027 | 3.42% | 7.43% |
IVVB iShares Large Cap Deep Buffer ETF | 5.03% | 9.60% |
Correlation
The correlation between TJAN and IVVB is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2025 | 0.81 |
The correlation between TJAN and IVVB has been stable across timeframes, ranging from 0.81 to 0.83 - a consistent structural relationship.
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Return for Risk
TJAN vs. IVVB — Risk / Return Rank
TJAN
IVVB
TJAN vs. IVVB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Defined Protection ETF - 2 Yr To January 2027 (TJAN) and iShares Large Cap Deep Buffer ETF (IVVB). 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.
| TJAN | IVVB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.86 | ||
| Sortino ratioReturn per unit of downside risk | +1.50 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.30 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 3.27 | 2.12 | +1.14 |
| Martin ratioReturn relative to average drawdown | 17.13 | 8.98 | +8.14 |
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Drawdowns
TJAN vs. IVVB - Drawdown Comparison
The maximum TJAN drawdown since its inception was -4.83%, smaller than the maximum IVVB drawdown of -13.08%. Use the drawdown chart below to compare losses from any high point for TJAN and IVVB.
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Drawdown Indicators
| TJAN | IVVB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.83% | -13.08% | +8.25% |
Max Drawdown (1Y)Largest decline over 1 year | -2.10% | -5.75% | +3.65% |
Max Drawdown (3Y)Largest decline over 3 years | — | -13.08% | — |
Current DrawdownCurrent decline from peak | -0.02% | -0.47% | +0.45% |
Average DrawdownAverage peak-to-trough decline | -0.41% | -1.56% | +1.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 1.36% | -0.96% |
Volatility
TJAN vs. IVVB - Volatility Comparison
The current volatility for Innovator Equity Defined Protection ETF - 2 Yr To January 2027 (TJAN) is 0.56%, while iShares Large Cap Deep Buffer ETF (IVVB) has a volatility of 1.61%. This indicates that TJAN experiences smaller price fluctuations and is considered to be less risky than IVVB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TJAN | IVVB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.56% | 1.61% | -1.05% |
Volatility (6M)Calculated over the trailing 6-month period | 2.22% | 5.43% | -3.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.76% | 7.47% | -4.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.28% | 9.17% | -4.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.28% | 9.17% | -4.89% |
TJAN vs. IVVB - Expense Ratio Comparison
TJAN has a 0.79% expense ratio, which is higher than IVVB's 0.50% expense ratio.
Dividends
TJAN vs. IVVB - Dividend Comparison
TJAN has not paid dividends to shareholders, while IVVB's dividend yield for the trailing twelve months is around 1.17%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
IVVB iShares Large Cap Deep Buffer ETF | 1.17% | 1.22% | 0.87% |
TJAN Innovator Equity Defined Protection ETF - 2 Yr To January 2027 | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TJAN and IVVB have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IVVB has higher volatility (1.61%) compared to TJAN (0.56%). In terms of maximum drawdown, TJAN dropped -4.83% vs IVVB's -13.08%.
On 1-year performance, IVVB leads with 12.15% vs 6.84% for TJAN. On fees, IVVB is cheaper at 0.50% per year. On volatility, TJAN has been the lower-risk option at 0.56%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IVVB has performed better with a 12.15% return vs 6.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVVB is cheaper with a 0.50% expense ratio, compared with 0.79% for TJAN.
IVVB has the higher dividend yield at 1.17%, compared with 0.00% for TJAN.
They also come from different issuers: Innovator and iShares. Their fees differ too: 0.79% for TJAN and 0.50% for IVVB.
TJAN currently has the higher Sharpe Ratio (2.49 vs 1.63), 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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