UJUN vs. FLCC

Last updated Jun 23, 2026

UJUN (Innovator U.S. Equity Ultra Buffer ETF - June) and FLCC (Federated Hermes MDT Large Cap Core ETF) are both Large Cap Blend Equities funds. UJUN is passively managed, while FLCC is actively managed. Over the past year, UJUN returned 9.74% vs 20.53% for FLCC. Their correlation of 0.88 suggests significant overlap in exposure. UJUN charges 0.79%/yr vs 0.29%/yr for FLCC.

Performance

UJUN vs. FLCC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Ultra Buffer ETF - June (UJUN) and Federated Hermes MDT Large Cap Core ETF (FLCC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UJUN achieves a 2.66% return, which is significantly lower than FLCC's 7.28% return.

UJUN

• 1D: -0.16%
• 1M: -0.54%
• YTD: 2.66%
• 6M: 2.81%
• 1Y: 9.74%
• 3Y*: 10.71%
• 5Y*: 6.12%
• 10Y*: —

FLCC

• 1D: -0.37%
• 1M: -0.31%
• YTD: 7.28%
• 6M: 6.50%
• 1Y: 20.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UJUN vs. FLCC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
UJUN Innovator U.S. Equity Ultra Buffer ETF - June	2.66%	10.63%	5.59%
FLCC Federated Hermes MDT Large Cap Core ETF	7.28%	16.61%	9.68%

Correlation

The correlation between UJUN and FLCC 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 Jul 31, 2024	0.88

The correlation between UJUN and FLCC has been stable across timeframes, ranging from 0.83 to 0.88 - a consistent structural relationship.

UJUN vs. FLCC - Sectors Allocation Comparison

Sectors	UJUN	FLCC
Technology	38.4%	39.3%
Financial Services	11.0%	10.1%
Communication Services	10.8%	9.3%
Consumer Cyclical	10.0%	12.4%
Healthcare	8.4%	9.6%
Industrials	7.9%	8.9%
Consumer Defensive	4.6%	3.4%
Energy	3.2%	2.5%
Utilities	2.1%	1.4%
Real Estate	1.8%	1.2%
Basic Materials	1.7%	2.0%

Return for Risk

UJUN vs. FLCC — Risk / Return Rank

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

UJUN

UJUN Risk / Return Rank: 77
UJUN Sharpe Ratio Rank: 69
UJUN Sortino Ratio Rank: 75
UJUN Omega Ratio Rank: 85
UJUN Calmar Ratio Rank: 71
UJUN Martin Ratio Rank: 88

FLCC

FLCC Risk / Return Rank: 47
FLCC Sharpe Ratio Rank: 47
FLCC Sortino Ratio Rank: 45
FLCC Omega Ratio Rank: 45
FLCC Calmar Ratio Rank: 46
FLCC Martin Ratio Rank: 52

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.

UJUN vs. FLCC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Ultra Buffer ETF - June (UJUN) and Federated Hermes MDT Large Cap Core ETF (FLCC). 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.

	UJUN	FLCC	Difference
Sharpe ratio: Return per unit of total volatility	2.15	1.58	+0.58
Sortino ratio: Return per unit of downside risk	3.19	2.19	+1.01
Omega ratio: Gain probability vs. loss probability	1.49	1.28	+0.21
Calmar ratio: Return relative to maximum drawdown	3.45	2.22	+1.23
Martin ratio: Return relative to average drawdown	18.38	8.72	+9.66

UJUN vs. FLCC - Sharpe Ratio Comparison

The current UJUN Sharpe Ratio is 2.15, which is higher than the FLCC Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of UJUN and FLCC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

UJUN vs. FLCC - Drawdown Comparison

The maximum UJUN drawdown since its inception was -13.73%, smaller than the maximum FLCC drawdown of -19.18%. Use the drawdown chart below to compare losses from any high point for UJUN and FLCC.

Drawdown Indicators

	UJUN	FLCC	Difference
Max Drawdown Largest peak-to-trough decline	-13.73%	-19.18%	+5.45%
Max Drawdown (1Y) Largest decline over 1 year	-2.84%	-9.31%	+6.47%
Max Drawdown (3Y) Largest decline over 3 years	-11.24%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-11.96%	—	—
Current Drawdown Current decline from peak	-0.93%	-2.36%	+1.43%
Average Drawdown Average peak-to-trough decline	-2.06%	-2.35%	+0.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.53%	2.36%	-1.83%

Volatility

UJUN vs. FLCC - Volatility Comparison

The current volatility for Innovator U.S. Equity Ultra Buffer ETF - June (UJUN) is 2.14%, while Federated Hermes MDT Large Cap Core ETF (FLCC) has a volatility of 4.43%. This indicates that UJUN experiences smaller price fluctuations and is considered to be less risky than FLCC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UJUN	FLCC	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.14%	4.43%	-2.29%
Volatility (6M) Calculated over the trailing 6-month period	3.83%	10.15%	-6.32%
Volatility (1Y) Calculated over the trailing 1-year period	4.55%	13.10%	-8.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.37%	17.39%	-9.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.77%	17.39%	-8.62%

UJUN vs. FLCC - Expense Ratio Comparison

UJUN has a 0.79% expense ratio, which is higher than FLCC's 0.29% expense ratio.

Dividends

UJUN vs. FLCC - Dividend Comparison

UJUN has not paid dividends to shareholders, while FLCC's dividend yield for the trailing twelve months is around 0.47%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FLCC Federated Hermes MDT Large Cap Core ETF	0.47%	0.50%	0.20%	0.00%	0.00%	0.00%	0.00%	0.00%
UJUN Innovator U.S. Equity Ultra Buffer ETF - June	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.89%

Frequently Asked Questions

Can I hold both UJUN and FLCC in my portfolio?

UJUN and FLCC 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.

Which is riskier, UJUN or FLCC?

FLCC has higher volatility (4.43%) compared to UJUN (2.14%). In terms of maximum drawdown, UJUN dropped -13.73% vs FLCC's -19.18%.

Which ETF is better, UJUN or FLCC?

On 1-year performance, FLCC leads with 20.53% vs 9.74% for UJUN. On fees, FLCC is cheaper at 0.29% per year. On volatility, UJUN has been the lower-risk option at 2.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UJUN or FLCC?

Over the 1-year period, FLCC has performed better with a 20.53% return vs 9.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UJUN or FLCC?

FLCC is cheaper with a 0.29% expense ratio, compared with 0.79% for UJUN.

Which ETF pays a higher dividend yield, UJUN or FLCC?

FLCC has the higher dividend yield at 0.47%, compared with 0.00% for UJUN.

What is the main difference between UJUN and FLCC?

They also come from different issuers: Innovator and Federated Hermes. Their fees differ too: 0.79% for UJUN and 0.29% for FLCC.

Which has better risk-adjusted returns?

UJUN currently has the higher Sharpe Ratio (2.15 vs 1.58), 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.