UMAR vs. BKLN

Last updated Jun 4, 2026

UMAR (Innovator U.S. Equity Ultra Buffer ETF - March) and BKLN (Invesco Senior Loan ETF) are both exchange-traded funds - UMAR is a Defined Outcome fund tracking the S&P 500 Index, while BKLN is a High Yield Bonds fund tracking the S&P/LSTA U.S. Leveraged Loan 100 Index. Both are passively managed. Over the past 5 years, UMAR returned 7.83%/yr vs 5.15%/yr for BKLN. A 0.54 correlation means they provide meaningful diversification when combined. UMAR charges 0.79%/yr vs 0.65%/yr for BKLN.

Performance

UMAR vs. BKLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Ultra Buffer ETF - March (UMAR) and Invesco Senior Loan ETF (BKLN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UMAR achieves a 5.78% return, which is significantly higher than BKLN's 0.21% return.

UMAR

• 1D: 0.18%
• 1M: 1.97%
• YTD: 5.78%
• 6M: 6.56%
• 1Y: 14.67%
• 3Y*: 12.79%
• 5Y*: 7.83%
• 10Y*: —

BKLN

• 1D: 0.00%
• 1M: 0.05%
• YTD: 0.21%
• 6M: 1.13%
• 1Y: 4.85%
• 3Y*: 7.65%
• 5Y*: 5.15%
• 10Y*: 4.26%

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

UMAR vs. BKLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
UMAR Innovator U.S. Equity Ultra Buffer ETF - March	5.78%	11.94%	12.94%	12.22%	-5.49%	7.31%	5.16%
BKLN Invesco Senior Loan ETF	0.21%	6.88%	8.21%	12.53%	-2.51%	2.32%	3.82%

Correlation

The correlation between UMAR and BKLN is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (All Time) Calculated using the full available price history since Mar 3, 2020	0.54

The correlation between UMAR and BKLN has been stable across timeframes, ranging from 0.50 to 0.56 - a consistent structural relationship.

UMAR vs. BKLN - Sectors Allocation Comparison

Sectors	UMAR	BKLN
Technology	33.6%	5.7%
Financial Services	12.2%	1.9%
Communication Services	10.5%	0.8%
Consumer Cyclical	10.0%	2.3%
Healthcare	9.5%	0.8%
Industrials	8.5%	0.9%
Consumer Defensive	5.3%	0.7%
Energy	4.0%	-
Utilities	2.6%	-
Real Estate	2.0%	0.8%
Basic Materials	1.9%	-

Return for Risk

UMAR vs. BKLN — Risk / Return Rank

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

UMAR

UMAR Risk / Return Rank: 89
UMAR Sharpe Ratio Rank: 88
UMAR Sortino Ratio Rank: 92
UMAR Omega Ratio Rank: 93
UMAR Calmar Ratio Rank: 80
UMAR Martin Ratio Rank: 92

BKLN

BKLN Risk / Return Rank: 48
BKLN Sharpe Ratio Rank: 50
BKLN Sortino Ratio Rank: 53
BKLN Omega Ratio Rank: 67
BKLN Calmar Ratio Rank: 31
BKLN Martin Ratio Rank: 39

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.

UMAR vs. BKLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Ultra Buffer ETF - March (UMAR) and Invesco Senior Loan ETF (BKLN). 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.

	UMAR	BKLN	Difference
Sharpe ratio: Return per unit of total volatility	2.99	1.77	+1.22
Sortino ratio: Return per unit of downside risk	4.39	2.61	+1.77
Omega ratio: Gain probability vs. loss probability	1.65	1.41	+0.23
Calmar ratio: Return relative to maximum drawdown	4.08	1.59	+2.49
Martin ratio: Return relative to average drawdown	22.77	6.24	+16.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UMAR vs. BKLN - Sharpe Ratio Comparison

The current UMAR Sharpe Ratio is 2.99, which is higher than the BKLN Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of UMAR and BKLN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	UMAR	BKLN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.99	1.77	+1.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.20	1.16	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.67	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.04	0.64	+0.40

Drawdowns

UMAR vs. BKLN - Drawdown Comparison

The maximum UMAR drawdown since its inception was -11.08%, smaller than the maximum BKLN drawdown of -24.17%. Use the drawdown chart below to compare losses from any high point for UMAR and BKLN.

Drawdown Indicators

	UMAR	BKLN	Difference
Max Drawdown Largest peak-to-trough decline	-11.08%	-24.17%	+13.09%
Max Drawdown (1Y) Largest decline over 1 year	-3.61%	-3.07%	-0.54%
Max Drawdown (3Y) Largest decline over 3 years	-7.41%	-3.55%	-3.86%
Max Drawdown (5Y) Largest decline over 5 years	-8.72%	-7.31%	-1.41%
Max Drawdown (10Y) Largest decline over 10 years	—	-24.17%	—
Current Drawdown Current decline from peak	0.00%	-0.24%	+0.24%
Average Drawdown Average peak-to-trough decline	-1.63%	-1.09%	-0.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.65%	0.78%	-0.13%

Volatility

UMAR vs. BKLN - Volatility Comparison

Innovator U.S. Equity Ultra Buffer ETF - March (UMAR) has a higher volatility of 0.82% compared to Invesco Senior Loan ETF (BKLN) at 0.44%. This indicates that UMAR's price experiences larger fluctuations and is considered to be riskier than BKLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UMAR	BKLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.82%	0.44%	+0.38%
Volatility (6M) Calculated over the trailing 6-month period	3.78%	2.52%	+1.26%
Volatility (1Y) Calculated over the trailing 1-year period	4.94%	2.75%	+2.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.54%	4.47%	+2.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.52%	6.43%	+1.09%

UMAR vs. BKLN - Expense Ratio Comparison

UMAR has a 0.79% expense ratio, which is higher than BKLN's 0.65% expense ratio.

Dividends

UMAR vs. BKLN - Dividend Comparison

UMAR has not paid dividends to shareholders, while BKLN's dividend yield for the trailing twelve months is around 6.61%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BKLN Invesco Senior Loan ETF	6.61%	6.95%	8.41%	8.59%	4.93%	3.11%	3.56%	4.86%	4.52%	3.50%	4.54%	4.12%
UMAR Innovator U.S. Equity Ultra Buffer ETF - March	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

Can I hold both UMAR and BKLN in my portfolio?

UMAR and BKLN have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UMAR or BKLN?

UMAR has higher volatility (0.82%) compared to BKLN (0.44%). In terms of maximum drawdown, UMAR dropped -11.08% vs BKLN's -24.17%.

Which ETF is better, UMAR or BKLN?

On 5-year performance, UMAR leads with 7.83% vs 5.15% for BKLN. On fees, BKLN is cheaper at 0.65% per year. On volatility, BKLN has been the lower-risk option at 0.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UMAR or BKLN?

Over the 5-year period, UMAR has performed better with a 7.83% return vs 5.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UMAR or BKLN?

BKLN is cheaper with a 0.65% expense ratio, compared with 0.79% for UMAR.

Which ETF pays a higher dividend yield, UMAR or BKLN?

BKLN has the higher dividend yield at 6.61%, compared with 0.00% for UMAR.

What is the main difference between UMAR and BKLN?

UMAR is categorized as Defined Outcome, while BKLN is High Yield Bonds. UMAR tracks S&P 500 Index, while BKLN tracks S&P/LSTA U.S. Leveraged Loan 100 Index. They also come from different issuers: Innovator and Invesco. Their fees differ too: 0.79% for UMAR and 0.65% for BKLN.

Which has better risk-adjusted returns?

UMAR currently has the higher Sharpe Ratio (2.99 vs 1.77), 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.