UOCT vs. IBID

Last updated Jun 23, 2026

UOCT (Innovator U.S. Equity Ultra Buffer ETF October) and IBID (iShares iBonds Oct 2027 Term TIPS ETF) are both exchange-traded funds - UOCT is a Defined Outcome fund tracking the S&P 500 Index, while IBID is a Inflation-Protected Bonds fund tracking the ICE 2027 Maturity US Inflation-Linked Treasury Index. Both are passively managed. Over the past year, UOCT returned 14.04% vs 4.04% for IBID. At a correlation of -0.04, they often move in opposite directions. UOCT charges 0.79%/yr vs 0.10%/yr for IBID.

Performance

UOCT vs. IBID - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Ultra Buffer ETF October (UOCT) and iShares iBonds Oct 2027 Term TIPS ETF (IBID). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UOCT achieves a 5.12% return, which is significantly higher than IBID's 1.99% return.

UOCT

• 1D: 0.00%
• 1M: 0.61%
• YTD: 5.12%
• 6M: 5.12%
• 1Y: 14.04%
• 3Y*: 11.35%
• 5Y*: 8.22%
• 10Y*: —

IBID

• 1D: 0.00%
• 1M: -0.19%
• YTD: 1.99%
• 6M: 2.08%
• 1Y: 4.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UOCT vs. IBID - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
UOCT Innovator U.S. Equity Ultra Buffer ETF October	5.12%	10.67%	8.98%	6.55%
IBID iShares iBonds Oct 2027 Term TIPS ETF	1.99%	5.66%	4.71%	2.61%

Correlation

The correlation between UOCT and IBID is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.13
Correlation (All Time) Calculated using the full available price history since Sep 15, 2023	-0.04

Return for Risk

UOCT vs. IBID — Risk / Return Rank

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

UOCT

UOCT Risk / Return Rank: 80
UOCT Sharpe Ratio Rank: 81
UOCT Sortino Ratio Rank: 83
UOCT Omega Ratio Rank: 85
UOCT Calmar Ratio Rank: 69
UOCT Martin Ratio Rank: 83

IBID

IBID Risk / Return Rank: 95
IBID Sharpe Ratio Rank: 93
IBID Sortino Ratio Rank: 96
IBID Omega Ratio Rank: 96
IBID Calmar Ratio Rank: 96
IBID Martin Ratio Rank: 95

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.

UOCT vs. IBID - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Ultra Buffer ETF October (UOCT) and iShares iBonds Oct 2027 Term TIPS ETF (IBID). 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.

	UOCT	IBID	Difference
Sharpe ratio: Return per unit of total volatility	2.49	3.29	-0.80
Sortino ratio: Return per unit of downside risk	3.50	5.55	-2.06
Omega ratio: Gain probability vs. loss probability	1.49	1.75	-0.26
Calmar ratio: Return relative to maximum drawdown	3.33	8.22	-4.89
Martin ratio: Return relative to average drawdown	16.21	30.99	-14.78

UOCT vs. IBID - Sharpe Ratio Comparison

The current UOCT Sharpe Ratio is 2.49, which is comparable to the IBID Sharpe Ratio of 3.29. The chart below compares the historical Sharpe Ratios of UOCT and IBID, 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

UOCT vs. IBID - Drawdown Comparison

The maximum UOCT drawdown since its inception was -13.68%, which is greater than IBID's maximum drawdown of -1.28%. Use the drawdown chart below to compare losses from any high point for UOCT and IBID.

Drawdown Indicators

	UOCT	IBID	Difference
Max Drawdown Largest peak-to-trough decline	-13.68%	-1.28%	-12.40%
Max Drawdown (1Y) Largest decline over 1 year	-4.24%	-0.49%	-3.75%
Max Drawdown (3Y) Largest decline over 3 years	-9.21%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-9.21%	—	—
Current Drawdown Current decline from peak	-0.21%	-0.49%	+0.28%
Average Drawdown Average peak-to-trough decline	-1.52%	-0.22%	-1.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.87%	0.13%	+0.74%

Volatility

UOCT vs. IBID - Volatility Comparison

Innovator U.S. Equity Ultra Buffer ETF October (UOCT) has a higher volatility of 1.61% compared to iShares iBonds Oct 2027 Term TIPS ETF (IBID) at 0.35%. This indicates that UOCT's price experiences larger fluctuations and is considered to be riskier than IBID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UOCT	IBID	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.61%	0.35%	+1.26%
Volatility (6M) Calculated over the trailing 6-month period	4.46%	0.86%	+3.60%
Volatility (1Y) Calculated over the trailing 1-year period	5.68%	1.23%	+4.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.73%	2.24%	+4.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.65%	2.24%	+5.41%

UOCT vs. IBID - Expense Ratio Comparison

UOCT has a 0.79% expense ratio, which is higher than IBID's 0.10% expense ratio.

Dividends

UOCT vs. IBID - Dividend Comparison

UOCT has not paid dividends to shareholders, while IBID's dividend yield for the trailing twelve months is around 3.68%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
IBID iShares iBonds Oct 2027 Term TIPS ETF	3.68%	4.43%	4.24%	0.81%	0.00%	0.00%	0.00%	0.00%
UOCT Innovator U.S. Equity Ultra Buffer ETF October	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.33%

Frequently Asked Questions

Can I hold both UOCT and IBID in my portfolio?

UOCT and IBID have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UOCT or IBID?

UOCT has higher volatility (1.61%) compared to IBID (0.35%). In terms of maximum drawdown, UOCT dropped -13.68% vs IBID's -1.28%.

Which ETF is better, UOCT or IBID?

On 1-year performance, UOCT leads with 14.04% vs 4.04% for IBID. On fees, IBID is cheaper at 0.10% per year. On volatility, IBID has been the lower-risk option at 0.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UOCT or IBID?

Over the 1-year period, UOCT has performed better with a 14.04% return vs 4.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UOCT or IBID?

IBID is cheaper with a 0.10% expense ratio, compared with 0.79% for UOCT.

Which ETF pays a higher dividend yield, UOCT or IBID?

IBID has the higher dividend yield at 3.68%, compared with 0.00% for UOCT.

What is the main difference between UOCT and IBID?

UOCT is categorized as Defined Outcome, while IBID is Inflation-Protected Bonds. UOCT tracks S&P 500 Index, while IBID tracks ICE 2027 Maturity US Inflation-Linked Treasury Index. They also come from different issuers: Innovator and iShares. Their fees differ too: 0.79% for UOCT and 0.10% for IBID.

Which has better risk-adjusted returns?

IBID currently has the higher Sharpe Ratio (3.29 vs 2.49), 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.