UDEC vs. JULB

Last updated Jun 4, 2026

UDEC (Innovator U.S. Equity Ultra Buffer ETF - December) and JULB (Aptus July Buffer ETF) are both Defined Outcome funds. UDEC is passively managed, while JULB is actively managed. Their correlation of 0.95 suggests significant overlap in exposure. UDEC charges 0.79%/yr vs 0.25%/yr for JULB.

Performance

UDEC vs. JULB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Ultra Buffer ETF - December (UDEC) and Aptus July Buffer ETF (JULB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UDEC achieves a 5.14% return, which is significantly lower than JULB's 6.35% return.

UDEC

• 1D: -0.12%
• 1M: 2.11%
• YTD: 5.14%
• 6M: 5.49%
• 1Y: 17.31%
• 3Y*: 12.44%
• 5Y*: 7.26%
• 10Y*: —

JULB

• 1D: -0.07%
• 1M: 2.40%
• YTD: 6.35%
• 6M: 6.93%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UDEC vs. JULB - Yearly Performance Comparison

	2026 (YTD)	2025
UDEC Innovator U.S. Equity Ultra Buffer ETF - December	5.14%	3.66%
JULB Aptus July Buffer ETF	6.35%	2.56%

Correlation

The correlation between UDEC and JULB is 0.95, 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 15, 2025	0.95

Return for Risk

UDEC vs. JULB — Risk / Return Rank

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

UDEC

UDEC Risk / Return Rank: 84
UDEC Sharpe Ratio Rank: 82
UDEC Sortino Ratio Rank: 86
UDEC Omega Ratio Rank: 86
UDEC Calmar Ratio Rank: 77
UDEC 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.

UDEC vs. JULB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Ultra Buffer ETF - December (UDEC) and Aptus July Buffer ETF (JULB). 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.

	UDEC	JULB	Difference
Sharpe ratio Return per unit of total volatility	2.66	—	—
Sortino ratio Return per unit of downside risk	3.89	—	—
Omega ratio Gain probability vs. loss probability	1.53	—	—
Calmar ratio Return relative to maximum drawdown	3.91	—	—
Martin ratio Return relative to average drawdown	19.15	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	UDEC	JULB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.66	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.02	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.91	2.17	-1.26

Drawdowns

UDEC vs. JULB - Drawdown Comparison

The maximum UDEC drawdown since its inception was -13.37%, which is greater than JULB's maximum drawdown of -5.24%. Use the drawdown chart below to compare losses from any high point for UDEC and JULB.

Drawdown Indicators

	UDEC	JULB	Difference
Max Drawdown Largest peak-to-trough decline	-13.37%	-5.24%	-8.13%
Max Drawdown (1Y) Largest decline over 1 year	-4.44%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-8.94%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-10.26%	—	—
Current Drawdown Current decline from peak	-0.15%	-0.07%	-0.08%
Average Drawdown Average peak-to-trough decline	-2.16%	-0.87%	-1.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.91%	—	—

Volatility

Volatility by Period

	UDEC	JULB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.93%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.27%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	6.53%	6.81%	-0.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.18%	6.81%	+0.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.02%	6.81%	+1.21%

UDEC vs. JULB - Expense Ratio Comparison

UDEC has a 0.79% expense ratio, which is higher than JULB's 0.25% expense ratio.

Dividends

UDEC vs. JULB - Dividend Comparison

Neither UDEC nor JULB has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both UDEC and JULB in my portfolio?

With a correlation of 0.95, UDEC and JULB 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.

Which ETF is better, UDEC or JULB?

On fees, JULB is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UDEC or JULB?

JULB is cheaper with a 0.25% expense ratio, compared with 0.79% for UDEC.

Which ETF pays a higher dividend yield, UDEC or JULB?

UDEC and JULB have nearly identical dividend yields, around 0.00%.

What is the main difference between UDEC and JULB?

They also come from different issuers: Innovator and Aptus Capital Advisors. Their fees differ too: 0.79% for UDEC and 0.25% for JULB.