XBAP vs. COMT

Last updated Jun 4, 2026

XBAP (Innovator U.S. Equity Accelerated 9 Buffer ETF - April) and COMT (iShares Commodities Select Strategy ETF) are both exchange-traded funds - XBAP is a Defined Outcome fund actively managed by Innovator, while COMT is a Commodities fund actively managed by iShares. Both are actively managed. Over the past 5 years, XBAP returned 9.79%/yr vs 13.50%/yr for COMT. At a 0.13 correlation, their price movements are largely independent. XBAP charges 0.79%/yr vs 0.48%/yr for COMT.

Performance

XBAP vs. COMT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Accelerated 9 Buffer ETF - April (XBAP) and iShares Commodities Select Strategy ETF (COMT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XBAP achieves a 8.03% return, which is significantly lower than COMT's 39.67% return.

XBAP

• 1D: -0.19%
• 1M: 1.69%
• YTD: 8.03%
• 6M: 9.02%
• 1Y: 15.64%
• 3Y*: 13.76%
• 5Y*: 9.79%
• 10Y*: —

COMT

• 1D: 0.78%
• 1M: -4.35%
• YTD: 39.67%
• 6M: 39.06%
• 1Y: 47.51%
• 3Y*: 16.86%
• 5Y*: 13.50%
• 10Y*: 9.09%

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

XBAP vs. COMT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XBAP Innovator U.S. Equity Accelerated 9 Buffer ETF - April	8.03%	13.38%	11.55%	20.53%	-7.59%	7.48%
COMT iShares Commodities Select Strategy ETF	39.67%	6.07%	5.96%	-6.56%	19.45%	20.20%

Correlation

The correlation between XBAP and COMT is -0.19, 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	-0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (5Y) Calculated over the trailing 5-year period	0.13
Correlation (All Time) Calculated using the full available price history since Apr 5, 2021	0.13

The correlation between XBAP and COMT shifts across timeframes, from -0.19 (1 year) to 0.13 (5 years), reflecting how their relationship changes across market environments.

XBAP vs. COMT - Sectors Allocation Comparison

Sectors	XBAP	COMT
Technology	35.7%	-
Financial Services	11.6%	100.0%
Communication Services	11.3%	-
Consumer Cyclical	10.2%	-
Healthcare	8.5%	-
Industrials	8.3%	-
Consumer Defensive	4.9%	-
Energy	3.5%	-
Utilities	2.4%	-
Real Estate	1.9%	-
Basic Materials	1.8%	-

Return for Risk

XBAP vs. COMT — Risk / Return Rank

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

XBAP

XBAP Risk / Return Rank: 98
XBAP Sharpe Ratio Rank: 97
XBAP Sortino Ratio Rank: 98
XBAP Omega Ratio Rank: 98
XBAP Calmar Ratio Rank: 98
XBAP Martin Ratio Rank: 98

COMT

COMT Risk / Return Rank: 71
COMT Sharpe Ratio Rank: 66
COMT Sortino Ratio Rank: 60
COMT Omega Ratio Rank: 64
COMT Calmar Ratio Rank: 91
COMT Martin Ratio Rank: 73

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.

XBAP vs. COMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Accelerated 9 Buffer ETF - April (XBAP) and iShares Commodities Select Strategy ETF (COMT). 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.

	XBAP	COMT	Difference
Sharpe ratio Return per unit of total volatility	4.53	2.24	+2.28
Sortino ratio Return per unit of downside risk	8.79	2.88	+5.91
Omega ratio Gain probability vs. loss probability	2.20	1.40	+0.80
Calmar ratio Return relative to maximum drawdown	16.10	5.95	+10.15
Martin ratio Return relative to average drawdown	82.15	14.11	+68.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XBAP vs. COMT - Sharpe Ratio Comparison

The current XBAP Sharpe Ratio is 4.53, which is higher than the COMT Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of XBAP and COMT, 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

	XBAP	COMT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.53	2.24	+2.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.99	0.64	+0.34
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.02	0.20	+0.81

Drawdowns

XBAP vs. COMT - Drawdown Comparison

The maximum XBAP drawdown since its inception was -14.57%, smaller than the maximum COMT drawdown of -51.89%. Use the drawdown chart below to compare losses from any high point for XBAP and COMT.

Drawdown Indicators

	XBAP	COMT	Difference
Max Drawdown Largest peak-to-trough decline	-14.57%	-51.89%	+37.32%
Max Drawdown (1Y) Largest decline over 1 year	-0.98%	-8.02%	+7.04%
Max Drawdown (3Y) Largest decline over 3 years	-8.25%	-13.31%	+5.06%
Max Drawdown (5Y) Largest decline over 5 years	-14.57%	-29.00%	+14.43%
Max Drawdown (10Y) Largest decline over 10 years	—	-39.22%	—
Current Drawdown Current decline from peak	-0.19%	-4.82%	+4.63%
Average Drawdown Average peak-to-trough decline	-1.74%	-24.07%	+22.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.19%	3.38%	-3.19%

Volatility

XBAP vs. COMT - Volatility Comparison

The current volatility for Innovator U.S. Equity Accelerated 9 Buffer ETF - April (XBAP) is 0.68%, while iShares Commodities Select Strategy ETF (COMT) has a volatility of 7.37%. This indicates that XBAP experiences smaller price fluctuations and is considered to be less risky than COMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XBAP	COMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.68%	7.37%	-6.69%
Volatility (6M) Calculated over the trailing 6-month period	2.53%	18.80%	-16.27%
Volatility (1Y) Calculated over the trailing 1-year period	3.47%	21.29%	-17.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.96%	21.06%	-11.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.87%	18.89%	-9.02%

XBAP vs. COMT - Expense Ratio Comparison

XBAP has a 0.79% expense ratio, which is higher than COMT's 0.48% expense ratio.

Dividends

XBAP vs. COMT - Dividend Comparison

XBAP has not paid dividends to shareholders, while COMT's dividend yield for the trailing twelve months is around 5.54%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COMT iShares Commodities Select Strategy ETF	5.54%	7.74%	4.90%	5.19%	29.79%	17.79%	0.36%	2.61%	11.65%	5.16%	0.52%	1.44%
XBAP Innovator U.S. Equity Accelerated 9 Buffer ETF - April	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 XBAP and COMT in my portfolio?

XBAP and COMT have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XBAP or COMT?

COMT has higher volatility (7.37%) compared to XBAP (0.68%). In terms of maximum drawdown, XBAP dropped -14.57% vs COMT's -51.89%.

Which ETF is better, XBAP or COMT?

On 5-year performance, COMT leads with 13.50% vs 9.79% for XBAP. On fees, COMT is cheaper at 0.48% per year. On volatility, XBAP has been the lower-risk option at 0.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XBAP or COMT?

Over the 5-year period, COMT has performed better with a 13.50% return vs 9.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XBAP or COMT?

COMT is cheaper with a 0.48% expense ratio, compared with 0.79% for XBAP.

Which ETF pays a higher dividend yield, XBAP or COMT?

COMT has the higher dividend yield at 5.54%, compared with 0.00% for XBAP.

What is the main difference between XBAP and COMT?

XBAP is categorized as Defined Outcome, while COMT is Commodities. They also come from different issuers: Innovator and iShares. Their fees differ too: 0.79% for XBAP and 0.48% for COMT.

Which has better risk-adjusted returns?

XBAP currently has the higher Sharpe Ratio (4.53 vs 2.24), 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.