WAR vs. BALT

Last updated Jun 4, 2026

WAR (U.S. Global Technology and Aerospace & Defense ETF) and BALT (Innovator Defined Wealth Shield ETF) are both exchange-traded funds - WAR is a Aerospace & Defense fund actively managed by US Global, while BALT is a Defined Outcome fund tracking the S&P 500. WAR is actively managed, while BALT is passively managed. At a correlation of -0.09, they often move in opposite directions. WAR charges 0.60%/yr vs 0.69%/yr for BALT.

Performance

WAR vs. BALT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in U.S. Global Technology and Aerospace & Defense ETF (WAR) and Innovator Defined Wealth Shield ETF (BALT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

WAR

• 1D: -1.92%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BALT

• 1D: -0.06%
• 1M: 0.53%
• YTD: 1.91%
• 6M: 2.81%
• 1Y: 6.95%
• 3Y*: 7.27%
• 5Y*: —
• 10Y*: —

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

WAR vs. BALT - Yearly Performance Comparison

	2026 (YTD)
WAR U.S. Global Technology and Aerospace & Defense ETF	2.67%
BALT Innovator Defined Wealth Shield ETF	0.18%

Correlation

The correlation between WAR and BALT is -0.09, 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 (All Time) Calculated using the full available price history since May 27, 2026	-0.09

WAR vs. BALT - Sectors Allocation Comparison

Sectors	WAR	BALT
Technology	63.8%	36.2%
Industrials	31.1%	8.1%
Communication Services	2.0%	10.9%
Financial Services	0.5%	11.9%
Basic Materials	-	1.8%
Consumer Cyclical	-	10.1%
Consumer Defensive	-	4.9%
Energy	-	3.5%
Healthcare	-	8.4%
Real Estate	-	1.9%
Utilities	-	2.3%

Return for Risk

WAR vs. BALT — Risk / Return Rank

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

BALT

BALT Risk / Return Rank: 92
BALT Sharpe Ratio Rank: 90
BALT Sortino Ratio Rank: 94
BALT Omega Ratio Rank: 93
BALT Calmar Ratio Rank: 91
BALT Martin Ratio Rank: 91

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.

WAR vs. BALT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for U.S. Global Technology and Aerospace & Defense ETF (WAR) and Innovator Defined Wealth Shield ETF (BALT). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	WAR	BALT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.19	—
Sharpe Ratio (All Time) Calculated using the full available price history	5.18	1.80	+3.38

Drawdowns

WAR vs. BALT - Drawdown Comparison

The maximum WAR drawdown since its inception was -1.92%, smaller than the maximum BALT drawdown of -4.89%. Use the drawdown chart below to compare losses from any high point for WAR and BALT.

Drawdown Indicators

	WAR	BALT	Difference
Max Drawdown Largest peak-to-trough decline	-1.92%	-4.89%	+2.97%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.15%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-4.89%	—
Current Drawdown Current decline from peak	-1.92%	-0.06%	-1.86%
Average Drawdown Average peak-to-trough decline	-0.88%	-0.34%	-0.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.31%	—

Volatility

Volatility by Period

	WAR	BALT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.37%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.56%	—
Volatility (1Y) Calculated over the trailing 1-year period	42.90%	2.19%	+40.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.90%	3.32%	+39.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.90%	3.32%	+39.58%

WAR vs. BALT - Expense Ratio Comparison

WAR has a 0.60% expense ratio, which is lower than BALT's 0.69% expense ratio.

Dividends

WAR vs. BALT - Dividend Comparison

Neither WAR nor BALT has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both WAR and BALT in my portfolio?

WAR and BALT have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, WAR or BALT?

On fees, WAR is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, WAR or BALT?

WAR is cheaper with a 0.60% expense ratio, compared with 0.69% for BALT.

Which ETF pays a higher dividend yield, WAR or BALT?

WAR and BALT have nearly identical dividend yields, around 0.00%.

What is the main difference between WAR and BALT?

WAR is categorized as Aerospace & Defense, while BALT is Defined Outcome. They also come from different issuers: US Global and Innovator. Their fees differ too: 0.60% for WAR and 0.69% for BALT.