UMAR vs. STIP
UMAR (Innovator U.S. Equity Ultra Buffer ETF - March) and STIP (iShares 0-5 Year TIPS Bond ETF) are both exchange-traded funds - UMAR is a Defined Outcome fund tracking the S&P 500 Index, while STIP is a Inflation-Protected Bonds fund tracking the Barclays Capital U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index (Series-L). Both are passively managed. Over the past 5 years, UMAR returned 7.83%/yr vs 3.37%/yr for STIP. At a 0.18 correlation, their price movements are largely independent. UMAR charges 0.79%/yr vs 0.06%/yr for STIP.
Performance
UMAR vs. STIP - Performance Comparison
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Returns By Period
In the year-to-date period, UMAR achieves a 5.78% return, which is significantly higher than STIP's 2.04% return.
UMAR
- 1D
- 0.18%
- 1M
- 1.97%
- YTD
- 5.78%
- 6M
- 6.56%
- 1Y
- 14.67%
- 3Y*
- 12.79%
- 5Y*
- 7.83%
- 10Y*
- —
STIP
- 1D
- 0.00%
- 1M
- 0.03%
- YTD
- 2.04%
- 6M
- 2.03%
- 1Y
- 4.68%
- 3Y*
- 5.23%
- 5Y*
- 3.37%
- 10Y*
- 3.18%
UMAR vs. STIP - 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% |
STIP iShares 0-5 Year TIPS Bond ETF | 2.04% | 6.03% | 4.77% | 4.63% | -3.02% | 5.68% | 4.25% |
Correlation
The correlation between UMAR and STIP is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2020 | 0.18 |
The correlation between UMAR and STIP shifts across timeframes, from 0.06 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
UMAR vs. STIP — Risk / Return Rank
UMAR
STIP
UMAR vs. STIP - 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 iShares 0-5 Year TIPS Bond ETF (STIP). 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 | STIP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.99 | 3.23 | -0.24 |
Sortino ratioReturn per unit of downside risk | 4.39 | 5.59 | -1.20 |
Omega ratioGain probability vs. loss probability | 1.65 | 1.69 | -0.05 |
Calmar ratioReturn relative to maximum drawdown | 4.08 | 6.76 | -2.69 |
Martin ratioReturn relative to average drawdown | 22.77 | 26.37 | -3.60 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| UMAR | STIP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.99 | 3.23 | -0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.20 | 1.23 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.30 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.04 | 1.07 | -0.03 |
Drawdowns
UMAR vs. STIP - Drawdown Comparison
The maximum UMAR drawdown since its inception was -11.08%, which is greater than STIP's maximum drawdown of -5.50%. Use the drawdown chart below to compare losses from any high point for UMAR and STIP.
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Drawdown Indicators
| UMAR | STIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.08% | -5.50% | -5.58% |
Max Drawdown (1Y)Largest decline over 1 year | -3.61% | -0.69% | -2.92% |
Max Drawdown (3Y)Largest decline over 3 years | -7.41% | -0.95% | -6.46% |
Max Drawdown (5Y)Largest decline over 5 years | -8.72% | -5.50% | -3.22% |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.50% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.03% | +0.03% |
Average DrawdownAverage peak-to-trough decline | -1.63% | -0.99% | -0.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 0.18% | +0.47% |
Volatility
UMAR vs. STIP - Volatility Comparison
Innovator U.S. Equity Ultra Buffer ETF - March (UMAR) has a higher volatility of 0.82% compared to iShares 0-5 Year TIPS Bond ETF (STIP) at 0.40%. This indicates that UMAR's price experiences larger fluctuations and is considered to be riskier than STIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UMAR | STIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.82% | 0.40% | +0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 3.78% | 0.99% | +2.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.94% | 1.46% | +3.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.54% | 2.75% | +3.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.52% | 2.45% | +5.07% |
UMAR vs. STIP - Expense Ratio Comparison
UMAR has a 0.79% expense ratio, which is higher than STIP's 0.06% expense ratio.
Dividends
UMAR vs. STIP - Dividend Comparison
UMAR has not paid dividends to shareholders, while STIP's dividend yield for the trailing twelve months is around 4.30%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
STIP iShares 0-5 Year TIPS Bond ETF | 4.30% | 4.11% | 2.62% | 2.84% | 6.04% | 4.15% | 1.40% | 2.06% | 2.44% | 1.59% | 0.89% |
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% |
Frequently Asked Questions
UMAR and STIP have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UMAR has higher volatility (0.82%) compared to STIP (0.40%). In terms of maximum drawdown, UMAR dropped -11.08% vs STIP's -5.50%.
On 5-year performance, UMAR leads with 7.83% vs 3.37% for STIP. On fees, STIP is cheaper at 0.06% per year. On volatility, STIP has been the lower-risk option at 0.40%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, UMAR has performed better with a 7.83% return vs 3.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
STIP is cheaper with a 0.06% expense ratio, compared with 0.79% for UMAR.
STIP has the higher dividend yield at 4.30%, compared with 0.00% for UMAR.
UMAR is categorized as Defined Outcome, while STIP is Inflation-Protected Bonds. UMAR tracks S&P 500 Index, while STIP tracks Barclays Capital U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index (Series-L). They also come from different issuers: Innovator and iShares. Their fees differ too: 0.79% for UMAR and 0.06% for STIP.
STIP currently has the higher Sharpe Ratio (3.23 vs 2.99), 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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