UDEC vs. TDTF
UDEC (Innovator U.S. Equity Ultra Buffer ETF - December) and TDTF (FlexShares iBoxx 5-Year Target Duration TIPS Index Fund) are both exchange-traded funds - UDEC is a Defined Outcome fund tracking the S&P 500, while TDTF is a Inflation-Protected Bonds fund tracking the iBoxx 5-Year Target Duration TIPS. Both are passively managed. Over the past 5 years, UDEC returned 7.33%/yr vs 1.06%/yr for TDTF. Their 0.11 correlation means their historical movements had little consistent relationship. UDEC charges 0.79%/yr vs 0.18%/yr for TDTF.
Performance
UDEC vs. TDTF - Performance Comparison
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Returns By Period
In the year-to-date period, UDEC achieves a 6.03% return, which is significantly higher than TDTF's 0.96% return.
UDEC
- 1D
- 0.48%
- 1M
- 0.86%
- 6M
- 5.15%
- YTD
- 6.03%
- 1Y
- 14.90%
- 3Y*
- 10.99%
- 5Y*
- 7.33%
- 10Y*
- —
- ALL TIME*
- 7.23%
TDTF
- 1D
- -0.04%
- 1M
- -0.17%
- 6M
- 0.35%
- YTD
- 0.96%
- 1Y
- 2.15%
- 3Y*
- 4.52%
- 5Y*
- 1.06%
- 10Y*
- 2.82%
- ALL TIME*
- 2.23%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.84M | $3.24M | $4.14M | |
| $474.96K | $390.03K | $1.51M |
UDEC vs. TDTF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
UDEC Innovator U.S. Equity Ultra Buffer ETF - December | 6.03% | 12.97% | 9.52% | 16.80% | -9.44% | 6.44% | 6.72% | 1.00% |
TDTF FlexShares iBoxx 5-Year Target Duration TIPS Index Fund | 0.96% | 7.83% | 2.40% | 4.10% | -9.73% | 5.54% | 9.98% | 0.75% |
Correlation
The correlation between UDEC and TDTF is 0.14, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.14 |
Correlation (3Y) Balances recent behavior with more history. | 0.15 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.14 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2019 | 0.11 |
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Return for Risk
UDEC vs. TDTF — Risk / Return Rank
UDEC
TDTF
UDEC vs. TDTF - 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 FlexShares iBoxx 5-Year Target Duration TIPS Index Fund (TDTF). 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.
| UDEC | TDTF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.12 | ||
| Sortino ratioReturn per unit of downside risk | +1.61 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.16 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 3.10 | 1.82 | +1.27 |
| Martin ratioReturn relative to average drawdown | 14.84 | 4.65 | +10.19 |
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Drawdowns
UDEC vs. TDTF - Drawdown Comparison
The maximum UDEC drawdown since its inception was -13.37%, which is greater than TDTF's maximum drawdown of -12.02%. Use the drawdown chart below to compare losses from any high point for UDEC and TDTF.
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Drawdown Indicators
| UDEC | TDTF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.37% | -12.02% | -1.35% |
Max Drawdown (1Y)Largest decline over 1 year | -4.44% | -1.58% | -2.86% |
Max Drawdown (3Y)Largest decline over 3 years | -8.94% | -3.40% | -5.54% |
Max Drawdown (5Y)Largest decline over 5 years | -10.26% | -12.02% | +1.76% |
Max Drawdown (10Y)Largest decline over 10 years | — | -12.02% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.12% | +1.12% |
Average DrawdownAverage peak-to-trough decline | -2.12% | -2.89% | +0.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.93% | 0.62% | +0.31% |
Volatility
UDEC vs. TDTF - Volatility Comparison
Innovator U.S. Equity Ultra Buffer ETF - December (UDEC) has a higher volatility of 1.76% compared to FlexShares iBoxx 5-Year Target Duration TIPS Index Fund (TDTF) at 0.76%. This indicates that UDEC's price experiences larger fluctuations and is considered to be riskier than TDTF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UDEC | TDTF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.76% | 0.76% | +1.00% |
Volatility (6M)Calculated over the trailing 6-month period | 4.61% | 2.28% | +2.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.68% | 3.09% | +3.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.26% | 5.67% | +1.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.98% | 5.07% | +2.91% |
UDEC vs. TDTF - Expense Ratio Comparison
UDEC has a 0.79% expense ratio, which is higher than TDTF's 0.18% expense ratio.
Dividends
UDEC vs. TDTF - Dividend Comparison
UDEC has not paid dividends to shareholders, while TDTF's dividend yield for the trailing twelve months is around 5.36%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TDTF FlexShares iBoxx 5-Year Target Duration TIPS Index Fund | 5.02% | 4.58% | 3.98% | 3.97% | 7.60% | 4.55% | 1.13% | 1.80% | 2.60% | 2.20% | 1.51% | 0.21% |
UDEC Innovator U.S. Equity Ultra Buffer ETF - December | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UDEC and TDTF have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UDEC has higher volatility (1.76%) compared to TDTF (0.76%). In terms of maximum drawdown, UDEC dropped -13.37% vs TDTF's -12.02%.
On 5-year performance, UDEC leads with 7.33% vs 1.06% for TDTF. On fees, TDTF is cheaper at 0.18% per year. On volatility, TDTF has been the lower-risk option at 0.76%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, UDEC has performed better with a 7.33% return vs 1.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TDTF is cheaper with a 0.18% expense ratio, compared with 0.79% for UDEC.
TDTF has the higher dividend yield at 5.02%, compared with 0.00% for UDEC.
UDEC is categorized as Defined Outcome, while TDTF is Inflation-Protected Bonds. UDEC tracks S&P 500, while TDTF tracks iBoxx 5-Year Target Duration TIPS. They also come from different issuers: Innovator and Northern Trust. Their fees differ too: 0.79% for UDEC and 0.18% for TDTF.
UDEC currently has the higher Sharpe Ratio (2.06 vs 0.93), 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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