XBOC vs. ZJUN

Last updated Aug 4, 2026

XBOC (Innovator U.S. Equity Accelerated 9 Buffer ETF - October) and ZJUN (Innovator Equity Defined Protection ETF - 1 Yr June) are both Defined Outcome funds from Innovator. Both are actively managed. Over the past year, XBOC returned 12.32% vs 5.31% for ZJUN. Their 0.76 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.79% expense ratio.

Performance

XBOC vs. ZJUN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Accelerated 9 Buffer ETF - October (XBOC) and Innovator Equity Defined Protection ETF - 1 Yr June (ZJUN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XBOC achieves a 7.12% return, which is significantly higher than ZJUN's 2.65% return.

XBOC

• 1D: 0.28%
• 1M: 1.15%
• 6M: 6.07%
• YTD: 7.12%
• 1Y: 12.32%
• 3Y*: 11.62%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.61%

ZJUN

• 1D: 0.26%
• 1M: 0.51%
• 6M: 2.21%
• YTD: 2.65%
• 1Y: 5.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.88%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
XBOC Innovator U.S. Equity Accelerated 9 Buffer ETF - October	$65.44K	$75.93K	$80.56K
ZJUN Innovator Equity Defined Protection ETF - 1 Yr June	$949.42K	$1.14M	$3.19M

XBOC vs. ZJUN - Yearly Performance Comparison

	2026 (YTD)	2025
XBOC Innovator U.S. Equity Accelerated 9 Buffer ETF - October	7.12%	8.51%
ZJUN Innovator Equity Defined Protection ETF - 1 Yr June	2.65%	4.15%

Correlation

The correlation between XBOC and ZJUN is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.77
Correlation (All Time) Calculated using the full available price history since Jun 2, 2025	0.76

The correlation between XBOC and ZJUN has been stable across timeframes, ranging from 0.76 to 0.77 - a consistent structural relationship.

Return for Risk

XBOC vs. ZJUN — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

XBOC

XBOC Risk / Return Rank: 78
XBOC Sharpe Ratio Rank: 77
XBOC Sortino Ratio Rank: 79
XBOC Omega Ratio Rank: 86
XBOC Calmar Ratio Rank: 64
XBOC Martin Ratio Rank: 85

ZJUN

ZJUN Risk / Return Rank: 94
ZJUN Sharpe Ratio Rank: 91
ZJUN Sortino Ratio Rank: 93
ZJUN Omega Ratio Rank: 94
ZJUN Calmar Ratio Rank: 94
ZJUN Martin Ratio Rank: 95

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

XBOC vs. ZJUN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Accelerated 9 Buffer ETF - October (XBOC) and Innovator Equity Defined Protection ETF - 1 Yr June (ZJUN). 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.

	XBOC	ZJUN	Difference
Sharpe ratio: Return per unit of total volatility	1.94	2.46	-0.52
Sortino ratio: Return per unit of downside risk	2.80	3.77	-0.97
Omega ratio: Gain probability vs. loss probability	1.41	1.53	-0.13
Calmar ratio: Return relative to maximum drawdown	2.48	4.96	-2.48
Martin ratio: Return relative to average drawdown	13.26	22.16	-8.90

XBOC vs. ZJUN - Sharpe Ratio Comparison

The current XBOC Sharpe Ratio is 1.94, which is comparable to the ZJUN Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of XBOC and ZJUN, 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

XBOC vs. ZJUN - Drawdown Comparison

The maximum XBOC drawdown since its inception was -13.35%, which is greater than ZJUN's maximum drawdown of -1.08%. Use the drawdown chart below to compare losses from any high point for XBOC and ZJUN.

Drawdown Indicators

	XBOC	ZJUN	Difference
Max Drawdown Largest peak-to-trough decline	-13.35%	-1.08%	-12.27%
Max Drawdown (1Y) Largest decline over 1 year	-4.99%	-1.08%	-3.91%
Max Drawdown (3Y) Largest decline over 3 years	-12.53%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.01%	-0.12%	-1.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.93%	0.24%	+0.69%

Volatility

XBOC vs. ZJUN - Volatility Comparison

Innovator U.S. Equity Accelerated 9 Buffer ETF - October (XBOC) has a higher volatility of 1.19% compared to Innovator Equity Defined Protection ETF - 1 Yr June (ZJUN) at 0.79%. This indicates that XBOC's price experiences larger fluctuations and is considered to be riskier than ZJUN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XBOC	ZJUN	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.19%	0.79%	+0.40%
Volatility (6M) Calculated over the trailing 6-month period	5.14%	1.86%	+3.28%
Volatility (1Y) Calculated over the trailing 1-year period	6.40%	2.17%	+4.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.76%	2.08%	+7.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.76%	2.08%	+7.68%

XBOC vs. ZJUN - Expense Ratio Comparison

Both XBOC and ZJUN have an expense ratio of 0.79%.

Dividends

XBOC vs. ZJUN - Dividend Comparison

Neither XBOC nor ZJUN has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XBOC and ZJUN in my portfolio?

XBOC and ZJUN have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XBOC or ZJUN?

XBOC has higher volatility (1.19%) compared to ZJUN (0.79%). In terms of maximum drawdown, XBOC dropped -13.35% vs ZJUN's -1.08%.

Which ETF is better, XBOC or ZJUN?

On 1-year performance, XBOC leads with 12.32% vs 5.31% for ZJUN. Both ETFs have the same 0.79% expense ratio. On volatility, ZJUN has been the lower-risk option at 0.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XBOC or ZJUN?

Over the 1-year period, XBOC has performed better with a 12.32% return vs 5.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XBOC or ZJUN?

XBOC and ZJUN have the same expense ratio: 0.79% per year.

Which ETF pays a higher dividend yield, XBOC or ZJUN?

XBOC and ZJUN have nearly identical dividend yields, around 0.00%.

Which has better risk-adjusted returns?

ZJUN currently has the higher Sharpe Ratio (2.46 vs 1.94), 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.