XBFR vs. BALT

Last updated Jun 6, 2026

XBFR (Innovator Equity Managed 10 Buffer ETF) and BALT (Innovator Defined Wealth Shield ETF) are both Defined Outcome funds from Innovator. XBFR is actively managed, while BALT is passively managed. A 0.56 correlation means they provide meaningful diversification when combined. XBFR charges 0.79%/yr vs 0.69%/yr for BALT.

Performance

XBFR vs. BALT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Equity Managed 10 Buffer ETF (XBFR) and Innovator Defined Wealth Shield ETF (BALT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

XBFR

• 1D: -2.13%
• 1M: 1.22%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BALT

• 1D: -0.06%
• 1M: 0.44%
• YTD: 1.97%
• 6M: 2.77%
• 1Y: 7.12%
• 3Y*: 7.31%
• 5Y*: —
• 10Y*: —

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

XBFR vs. BALT - Yearly Performance Comparison

	2026 (YTD)
XBFR Innovator Equity Managed 10 Buffer ETF	4.18%
BALT Innovator Defined Wealth Shield ETF	1.18%

Correlation

The correlation between XBFR and BALT is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 25, 2026	0.56

Return for Risk

XBFR 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: 93
BALT Sharpe Ratio Rank: 93
BALT Sortino Ratio Rank: 95
BALT Omega Ratio Rank: 95
BALT Calmar Ratio Rank: 92
BALT Martin Ratio Rank: 93

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.

XBFR vs. BALT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Managed 10 Buffer ETF (XBFR) 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

	XBFR	BALT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.26	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.97	1.80	+0.17

Drawdowns

XBFR vs. BALT - Drawdown Comparison

The maximum XBFR drawdown since its inception was -4.12%, smaller than the maximum BALT drawdown of -4.89%. Use the drawdown chart below to compare losses from any high point for XBFR and BALT.

Drawdown Indicators

	XBFR	BALT	Difference
Max Drawdown Largest peak-to-trough decline	-4.12%	-4.89%	+0.77%
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	-2.13%	-0.06%	-2.07%
Average Drawdown Average peak-to-trough decline	-1.00%	-0.34%	-0.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.31%	—

Volatility

Volatility by Period

	XBFR	BALT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.38%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.56%	—
Volatility (1Y) Calculated over the trailing 1-year period	8.00%	2.19%	+5.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.00%	3.31%	+4.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.00%	3.31%	+4.69%

XBFR vs. BALT - Expense Ratio Comparison

XBFR has a 0.79% expense ratio, which is higher than BALT's 0.69% expense ratio.

Dividends

XBFR vs. BALT - Dividend Comparison

XBFR's dividend yield for the trailing twelve months is around 0.03%, while BALT has not paid dividends to shareholders.

Position	TTM
BALT Innovator Defined Wealth Shield ETF	0.00%
XBFR Innovator Equity Managed 10 Buffer ETF	0.03%

Frequently Asked Questions

Can I hold both XBFR and BALT in my portfolio?

XBFR and BALT have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XBFR or BALT?

On fees, BALT is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XBFR or BALT?

BALT is cheaper with a 0.69% expense ratio, compared with 0.79% for XBFR.

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

XBFR has the higher dividend yield at 0.03%, compared with 0.00% for BALT.

What is the main difference between XBFR and BALT?

Their fees differ too: 0.79% for XBFR and 0.69% for BALT.