TJUL vs. GMAR

Last updated Apr 2, 2026

Compare and contrast key facts about Innovator Equity Defined Protection ETF – 2 Yr to July 2025 (TJUL) and FT Cboe Vest U.S. Equity Moderate Buffer ETF - March (GMAR).

TJUL and GMAR are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TJUL is an actively managed fund by Innovator. It was launched on Jul 17, 2023. GMAR is an actively managed fund by FT Vest. It was launched on Mar 16, 2023.

Performance

TJUL vs. GMAR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Equity Defined Protection ETF – 2 Yr to July 2025 (TJUL) and FT Cboe Vest U.S. Equity Moderate Buffer ETF - March (GMAR). The values are adjusted to include any dividend payments, if applicable.

TJUL vs. GMAR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TJUL Innovator Equity Defined Protection ETF – 2 Yr to July 2025	-0.49%	6.55%	8.18%	3.05%
GMAR FT Cboe Vest U.S. Equity Moderate Buffer ETF - March	2.32%	9.29%	12.14%	4.26%

Returns By Period

In the year-to-date period, TJUL achieves a -0.49% return, which is significantly lower than GMAR's 2.32% return.

TJUL

• 1D: 0.28%
• 1M: -0.93%
• YTD: -0.49%
• 6M: 0.26%
• 1Y: 5.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GMAR

• 1D: 0.48%
• 1M: 1.40%
• YTD: 2.32%
• 6M: 4.36%
• 1Y: 12.40%
• 3Y*: 11.31%
• 5Y*: —
• 10Y*: —

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

TJUL vs. GMAR - Expense Ratio Comparison

TJUL has a 0.79% expense ratio, which is lower than GMAR's 0.85% expense ratio.

GMAR

FT Cboe Vest U.S. Equity Moderate Buffer ETF - March

TJUL

Innovator Equity Defined Protection ETF – 2 Yr to July 2025

Return for Risk

TJUL vs. GMAR — Risk / Return Rank

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

TJUL

TJUL Risk / Return Rank: 53
TJUL Sharpe Ratio Rank: 48
TJUL Sortino Ratio Rank: 49
TJUL Omega Ratio Rank: 63
TJUL Calmar Ratio Rank: 41
TJUL Martin Ratio Rank: 63

GMAR

GMAR Risk / Return Rank: 81
GMAR Sharpe Ratio Rank: 76
GMAR Sortino Ratio Rank: 79
GMAR Omega Ratio Rank: 94
GMAR Calmar Ratio Rank: 66
GMAR Martin Ratio Rank: 88

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.

TJUL vs. GMAR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Defined Protection ETF – 2 Yr to July 2025 (TJUL) and FT Cboe Vest U.S. Equity Moderate Buffer ETF - March (GMAR). 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.

	TJUL	GMAR	Difference
Sharpe ratio Return per unit of total volatility	0.92	1.46	-0.54
Sortino ratio Return per unit of downside risk	1.39	2.14	-0.75
Omega ratio Gain probability vs. loss probability	1.24	1.46	-0.22
Calmar ratio Return relative to maximum drawdown	1.14	1.84	-0.70
Martin ratio Return relative to average drawdown	6.70	11.96	-5.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TJUL vs. GMAR - Sharpe Ratio Comparison

The current TJUL Sharpe Ratio is 0.92, which is lower than the GMAR Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of TJUL and GMAR, 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

	TJUL	GMAR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.92	1.46	-0.54
Sharpe Ratio (All Time) Calculated using the full available price history	1.47	1.71	-0.24

Correlation

The correlation between TJUL and GMAR is 0.69, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

TJUL vs. GMAR - Dividend Comparison

Neither TJUL nor GMAR has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

TJUL vs. GMAR - Drawdown Comparison

The maximum TJUL drawdown since its inception was -4.61%, smaller than the maximum GMAR drawdown of -9.11%. Use the drawdown chart below to compare losses from any high point for TJUL and GMAR.

Drawdown Indicators

	TJUL	GMAR	Difference
Max Drawdown Largest peak-to-trough decline	-4.61%	-9.11%	+4.50%
Max Drawdown (1Y) Largest decline over 1 year	-4.34%	-6.85%	+2.51%
Current Drawdown Current decline from peak	-1.16%	0.00%	-1.16%
Average Drawdown Average peak-to-trough decline	-0.41%	-0.57%	+0.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.74%	1.05%	-0.31%

Volatility

TJUL vs. GMAR - Volatility Comparison

The current volatility for Innovator Equity Defined Protection ETF – 2 Yr to July 2025 (TJUL) is 1.41%, while FT Cboe Vest U.S. Equity Moderate Buffer ETF - March (GMAR) has a volatility of 2.22%. This indicates that TJUL experiences smaller price fluctuations and is considered to be less risky than GMAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TJUL	GMAR	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.41%	2.22%	-0.81%
Volatility (6M) Calculated over the trailing 6-month period	2.21%	2.87%	-0.66%
Volatility (1Y) Calculated over the trailing 1-year period	5.58%	8.50%	-2.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.36%	6.96%	-2.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.36%	6.96%	-2.60%