XDQQ vs. BALT

Last updated Jun 5, 2026

XDQQ (Innovator Growth Accelerated ETF - Quarterly) and BALT (Innovator Defined Wealth Shield ETF) are both exchange-traded funds - XDQQ is a Leveraged Equities fund actively managed by Innovator, while BALT is a Defined Outcome fund tracking the S&P 500. XDQQ is actively managed, while BALT is passively managed. Over the past 3 years, XDQQ returned 17.88%/yr vs 7.35%/yr for BALT. A 0.74 correlation means they provide meaningful diversification when combined. XDQQ charges 0.79%/yr vs 0.69%/yr for BALT.

Performance

XDQQ vs. BALT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Growth Accelerated ETF - Quarterly (XDQQ) and Innovator Defined Wealth Shield ETF (BALT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XDQQ achieves a 2.62% return, which is significantly higher than BALT's 2.03% return.

XDQQ

• 1D: 0.04%
• 1M: 1.17%
• YTD: 2.62%
• 6M: 2.67%
• 1Y: 17.22%
• 3Y*: 17.88%
• 5Y*: 8.32%
• 10Y*: —

BALT

• 1D: 0.12%
• 1M: 0.53%
• YTD: 2.03%
• 6M: 2.89%
• 1Y: 7.18%
• 3Y*: 7.35%
• 5Y*: —
• 10Y*: —

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

XDQQ vs. BALT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XDQQ Innovator Growth Accelerated ETF - Quarterly	2.62%	13.75%	31.47%	30.15%	-33.74%	10.05%
BALT Innovator Defined Wealth Shield ETF	2.03%	6.65%	9.98%	7.45%	2.54%	0.82%

Correlation

The correlation between XDQQ and BALT is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (All Time) Calculated using the full available price history since Jul 2, 2021	0.74

The correlation between XDQQ and BALT has been stable across timeframes, ranging from 0.71 to 0.76 - a consistent structural relationship.

XDQQ vs. BALT - Sectors Allocation Comparison

Sectors	XDQQ	BALT
Technology	50.7%	36.2%
Communication Services	15.8%	10.9%
Consumer Cyclical	12.5%	10.1%
Consumer Defensive	8.7%	4.9%
Healthcare	5.1%	8.4%
Industrials	3.3%	8.1%
Utilities	1.6%	2.3%
Basic Materials	1.3%	1.8%
Energy	0.7%	3.5%
Financial Services	0.2%	11.9%
Real Estate	0.1%	1.9%

Return for Risk

XDQQ vs. BALT — Risk / Return Rank

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

XDQQ

XDQQ Risk / Return Rank: 36
XDQQ Sharpe Ratio Rank: 36
XDQQ Sortino Ratio Rank: 33
XDQQ Omega Ratio Rank: 40
XDQQ Calmar Ratio Rank: 30
XDQQ Martin Ratio Rank: 42

BALT

BALT Risk / Return Rank: 93
BALT Sharpe Ratio Rank: 92
BALT Sortino Ratio Rank: 95
BALT Omega Ratio Rank: 95
BALT Calmar Ratio Rank: 92
BALT Martin Ratio Rank: 92

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.

XDQQ vs. BALT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Growth Accelerated ETF - Quarterly (XDQQ) 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.

	XDQQ	BALT	Difference
Sharpe ratio: Return per unit of total volatility	1.25	3.29	-2.04
Sortino ratio: Return per unit of downside risk	1.72	5.04	-3.33
Omega ratio: Gain probability vs. loss probability	1.26	1.70	-0.44
Calmar ratio: Return relative to maximum drawdown	1.46	6.25	-4.79
Martin ratio: Return relative to average drawdown	6.63	23.31	-16.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XDQQ vs. BALT - Sharpe Ratio Comparison

The current XDQQ Sharpe Ratio is 1.25, which is lower than the BALT Sharpe Ratio of 3.29. The chart below compares the historical Sharpe Ratios of XDQQ and BALT, 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

	XDQQ	BALT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.25	3.29	-2.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	1.80	-1.34

Drawdowns

XDQQ vs. BALT - Drawdown Comparison

The maximum XDQQ drawdown since its inception was -35.63%, which is greater than BALT's maximum drawdown of -4.89%. Use the drawdown chart below to compare losses from any high point for XDQQ and BALT.

Drawdown Indicators

	XDQQ	BALT	Difference
Max Drawdown Largest peak-to-trough decline	-35.63%	-4.89%	-30.74%
Max Drawdown (1Y) Largest decline over 1 year	-11.84%	-1.15%	-10.69%
Max Drawdown (3Y) Largest decline over 3 years	-23.17%	-4.89%	-18.28%
Max Drawdown (5Y) Largest decline over 5 years	-35.63%	—	—
Current Drawdown Current decline from peak	-0.01%	0.00%	-0.01%
Average Drawdown Average peak-to-trough decline	-10.83%	-0.34%	-10.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.60%	0.31%	+2.29%

Volatility

XDQQ vs. BALT - Volatility Comparison

Innovator Growth Accelerated ETF - Quarterly (XDQQ) and Innovator Defined Wealth Shield ETF (BALT) have volatilities of 0.36% and 0.37%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XDQQ	BALT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.36%	0.37%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	11.10%	1.56%	+9.54%
Volatility (1Y) Calculated over the trailing 1-year period	13.80%	2.19%	+11.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.80%	3.31%	+16.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.65%	3.31%	+16.34%

XDQQ vs. BALT - Expense Ratio Comparison

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

Dividends

XDQQ vs. BALT - Dividend Comparison

Neither XDQQ nor BALT has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XDQQ and BALT in my portfolio?

XDQQ and BALT have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XDQQ or BALT?

BALT has higher volatility (0.37%) compared to XDQQ (0.36%). In terms of maximum drawdown, XDQQ dropped -35.63% vs BALT's -4.89%.

Which ETF is better, XDQQ or BALT?

On 3-year performance, XDQQ leads with 17.88% vs 7.35% for BALT. On fees, BALT is cheaper at 0.69% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XDQQ or BALT?

Over the 3-year period, XDQQ has performed better with a 17.88% return vs 7.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XDQQ or BALT?

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

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

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

What is the main difference between XDQQ and BALT?

XDQQ is categorized as Leveraged Equities, while BALT is Defined Outcome. Their fees differ too: 0.79% for XDQQ and 0.69% for BALT.

Which has better risk-adjusted returns?

BALT currently has the higher Sharpe Ratio (3.29 vs 1.25), 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.