XMAG vs. UJUN

Last updated Jun 4, 2026

XMAG (Defiance Large Cap ex-Mag 7 ETF) and UJUN (Innovator U.S. Equity Ultra Buffer ETF - June) are both Large Cap Blend Equities funds - XMAG tracks the BITA US 500 ex Magnificent 7 Index while UJUN tracks the Cboe S&P 500 30% (-5% to -35%) Buffer Protect June Series Index. Both are passively managed. Over the past year, XMAG returned 24.62% vs 10.04% for UJUN. Their correlation of 0.80 suggests significant overlap in exposure. XMAG charges 0.35%/yr vs 0.79%/yr for UJUN.

Performance

XMAG vs. UJUN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Large Cap ex-Mag 7 ETF (XMAG) and Innovator U.S. Equity Ultra Buffer ETF - June (UJUN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XMAG achieves a 12.73% return, which is significantly higher than UJUN's 3.32% return.

XMAG

• 1D: 0.01%
• 1M: 6.69%
• YTD: 12.73%
• 6M: 13.28%
• 1Y: 24.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

UJUN

• 1D: -0.30%
• 1M: 0.45%
• YTD: 3.32%
• 6M: 4.16%
• 1Y: 10.04%
• 3Y*: 11.26%
• 5Y*: 6.38%
• 10Y*: —

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

XMAG vs. UJUN - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XMAG Defiance Large Cap ex-Mag 7 ETF	12.73%	15.63%	-1.67%
UJUN Innovator U.S. Equity Ultra Buffer ETF - June	3.32%	10.63%	0.95%

Correlation

The correlation between XMAG and UJUN is 0.76, 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	0.76
Correlation (All Time) Calculated using the full available price history since Oct 23, 2024	0.80

The correlation between XMAG and UJUN has been stable across timeframes, ranging from 0.76 to 0.80 - a consistent structural relationship.

XMAG vs. UJUN - Sectors Allocation Comparison

Sectors	XMAG	UJUN
Technology	25.3%	36.2%
Financial Services	17.3%	11.9%
Healthcare	13.0%	8.4%
Industrials	12.6%	8.1%
Consumer Defensive	7.3%	4.9%
Consumer Cyclical	6.2%	10.1%
Energy	5.5%	3.5%
Communication Services	3.9%	10.9%
Utilities	3.4%	2.3%
Real Estate	2.9%	1.9%
Basic Materials	2.5%	1.8%

Return for Risk

XMAG vs. UJUN — Risk / Return Rank

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

XMAG

XMAG Risk / Return Rank: 68
XMAG Sharpe Ratio Rank: 66
XMAG Sortino Ratio Rank: 69
XMAG Omega Ratio Rank: 63
XMAG Calmar Ratio Rank: 67
XMAG Martin Ratio Rank: 77

UJUN

UJUN Risk / Return Rank: 81
UJUN Sharpe Ratio Rank: 73
UJUN Sortino Ratio Rank: 81
UJUN Omega Ratio Rank: 88
UJUN Calmar Ratio Rank: 72
UJUN 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.

XMAG vs. UJUN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Large Cap ex-Mag 7 ETF (XMAG) and Innovator U.S. Equity Ultra Buffer ETF - June (UJUN). 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.

	XMAG	UJUN	Difference
Sharpe ratio: Return per unit of total volatility	2.23	2.40	-0.17
Sortino ratio: Return per unit of downside risk	3.21	3.66	-0.44
Omega ratio: Gain probability vs. loss probability	1.39	1.55	-0.16
Calmar ratio: Return relative to maximum drawdown	3.39	3.55	-0.16
Martin ratio: Return relative to average drawdown	15.15	21.84	-6.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XMAG vs. UJUN - Sharpe Ratio Comparison

The current XMAG Sharpe Ratio is 2.23, which is comparable to the UJUN Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of XMAG and UJUN, 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

	XMAG	UJUN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.23	2.40	-0.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.77	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.11	0.77	+0.34

Drawdowns

XMAG vs. UJUN - Drawdown Comparison

The maximum XMAG drawdown since its inception was -16.17%, which is greater than UJUN's maximum drawdown of -13.73%. Use the drawdown chart below to compare losses from any high point for XMAG and UJUN.

Drawdown Indicators

	XMAG	UJUN	Difference
Max Drawdown Largest peak-to-trough decline	-16.17%	-13.73%	-2.44%
Max Drawdown (1Y) Largest decline over 1 year	-7.29%	-2.84%	-4.45%
Max Drawdown (3Y) Largest decline over 3 years	—	-11.24%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-11.96%	—
Current Drawdown Current decline from peak	0.00%	-0.30%	+0.30%
Average Drawdown Average peak-to-trough decline	-2.13%	-2.07%	-0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.63%	0.46%	+1.17%

Volatility

XMAG vs. UJUN - Volatility Comparison

Defiance Large Cap ex-Mag 7 ETF (XMAG) has a higher volatility of 2.87% compared to Innovator U.S. Equity Ultra Buffer ETF - June (UJUN) at 0.41%. This indicates that XMAG's price experiences larger fluctuations and is considered to be riskier than UJUN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XMAG	UJUN	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.87%	0.41%	+2.46%
Volatility (6M) Calculated over the trailing 6-month period	8.65%	3.25%	+5.40%
Volatility (1Y) Calculated over the trailing 1-year period	11.10%	4.25%	+6.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.12%	8.32%	+6.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.12%	8.77%	+6.35%

XMAG vs. UJUN - Expense Ratio Comparison

XMAG has a 0.35% expense ratio, which is lower than UJUN's 0.79% expense ratio.

Dividends

XMAG vs. UJUN - Dividend Comparison

XMAG's dividend yield for the trailing twelve months is around 0.46%, while UJUN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
UJUN Innovator U.S. Equity Ultra Buffer ETF - June	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.89%
XMAG Defiance Large Cap ex-Mag 7 ETF	0.46%	0.51%	0.24%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XMAG and UJUN in my portfolio?

XMAG and UJUN have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XMAG or UJUN?

XMAG has higher volatility (2.87%) compared to UJUN (0.41%). In terms of maximum drawdown, XMAG dropped -16.17% vs UJUN's -13.73%.

Which ETF is better, XMAG or UJUN?

On 1-year performance, XMAG leads with 24.62% vs 10.04% for UJUN. On fees, XMAG is cheaper at 0.35% per year. On volatility, UJUN has been the lower-risk option at 0.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XMAG or UJUN?

Over the 1-year period, XMAG has performed better with a 24.62% return vs 10.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XMAG or UJUN?

XMAG is cheaper with a 0.35% expense ratio, compared with 0.79% for UJUN.

Which ETF pays a higher dividend yield, XMAG or UJUN?

XMAG has the higher dividend yield at 0.46%, compared with 0.00% for UJUN.

What is the main difference between XMAG and UJUN?

XMAG tracks BITA US 500 ex Magnificent 7 Index, while UJUN tracks Cboe S&P 500 30% (-5% to -35%) Buffer Protect June Series Index. They also come from different issuers: Defiance and Innovator. Their fees differ too: 0.35% for XMAG and 0.79% for UJUN.

Which has better risk-adjusted returns?

UJUN currently has the higher Sharpe Ratio (2.40 vs 2.23), 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.