XTJA vs. MRCP

Last updated Jun 4, 2026

XTJA (Innovator U.S. Equity Accelerated Plus ETF - January) and MRCP (PGIM US Large-Cap Buffer 12 ETF - March) are both Options Trading funds. Both are actively managed. Over the past year, XTJA returned 19.06% vs 18.03% for MRCP. Their correlation of 0.90 suggests significant overlap in exposure. XTJA charges 0.79%/yr vs 0.50%/yr for MRCP.

Performance

XTJA vs. MRCP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Accelerated Plus ETF - January (XTJA) and PGIM US Large-Cap Buffer 12 ETF - March (MRCP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with XTJA having a 7.16% return and MRCP slightly higher at 7.27%.

XTJA

• 1D: -0.25%
• 1M: 2.70%
• YTD: 7.16%
• 6M: 7.78%
• 1Y: 19.06%
• 3Y*: 14.92%
• 5Y*: —
• 10Y*: —

MRCP

• 1D: -0.22%
• 1M: 2.27%
• YTD: 7.27%
• 6M: 8.29%
• 1Y: 18.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XTJA vs. MRCP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XTJA Innovator U.S. Equity Accelerated Plus ETF - January	7.16%	13.86%	9.41%
MRCP PGIM US Large-Cap Buffer 12 ETF - March	7.27%	14.13%	11.42%

Correlation

The correlation between XTJA and MRCP is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (All Time) Calculated using the full available price history since Mar 4, 2024	0.90

The correlation between XTJA and MRCP has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.

Return for Risk

XTJA vs. MRCP — Risk / Return Rank

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

XTJA

XTJA Risk / Return Rank: 71
XTJA Sharpe Ratio Rank: 70
XTJA Sortino Ratio Rank: 73
XTJA Omega Ratio Rank: 84
XTJA Calmar Ratio Rank: 52
XTJA Martin Ratio Rank: 75

MRCP

MRCP Risk / Return Rank: 87
MRCP Sharpe Ratio Rank: 88
MRCP Sortino Ratio Rank: 91
MRCP Omega Ratio Rank: 92
MRCP Calmar Ratio Rank: 75
MRCP 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.

XTJA vs. MRCP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Accelerated Plus ETF - January (XTJA) and PGIM US Large-Cap Buffer 12 ETF - March (MRCP). 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.

	XTJA	MRCP	Difference
Sharpe ratio: Return per unit of total volatility	2.28	2.91	-0.63
Sortino ratio: Return per unit of downside risk	3.26	4.29	-1.03
Omega ratio: Gain probability vs. loss probability	1.51	1.61	-0.11
Calmar ratio: Return relative to maximum drawdown	2.51	3.76	-1.25
Martin ratio: Return relative to average drawdown	14.10	21.57	-7.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XTJA vs. MRCP - Sharpe Ratio Comparison

The current XTJA Sharpe Ratio is 2.28, which is comparable to the MRCP Sharpe Ratio of 2.91. The chart below compares the historical Sharpe Ratios of XTJA and MRCP, 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

	XTJA	MRCP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.28	2.91	-0.63
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	1.60	-1.15

Drawdowns

XTJA vs. MRCP - Drawdown Comparison

The maximum XTJA drawdown since its inception was -26.17%, which is greater than MRCP's maximum drawdown of -10.73%. Use the drawdown chart below to compare losses from any high point for XTJA and MRCP.

Drawdown Indicators

	XTJA	MRCP	Difference
Max Drawdown Largest peak-to-trough decline	-26.17%	-10.73%	-15.44%
Max Drawdown (1Y) Largest decline over 1 year	-7.62%	-4.81%	-2.81%
Max Drawdown (3Y) Largest decline over 3 years	-17.94%	—	—
Current Drawdown Current decline from peak	-0.25%	-0.22%	-0.03%
Average Drawdown Average peak-to-trough decline	-6.26%	-0.77%	-5.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.35%	0.84%	+0.51%

Volatility

XTJA vs. MRCP - Volatility Comparison

Innovator U.S. Equity Accelerated Plus ETF - January (XTJA) and PGIM US Large-Cap Buffer 12 ETF - March (MRCP) have volatilities of 1.32% and 1.36%, 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

	XTJA	MRCP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.32%	1.36%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	7.29%	4.95%	+2.34%
Volatility (1Y) Calculated over the trailing 1-year period	8.41%	6.24%	+2.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.07%	9.27%	+6.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.07%	9.27%	+6.80%

XTJA vs. MRCP - Expense Ratio Comparison

XTJA has a 0.79% expense ratio, which is higher than MRCP's 0.50% expense ratio.

Dividends

XTJA vs. MRCP - Dividend Comparison

Neither XTJA nor MRCP has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XTJA and MRCP in my portfolio?

With a correlation of 0.92, XTJA and MRCP move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, XTJA or MRCP?

MRCP has higher volatility (1.36%) compared to XTJA (1.32%). In terms of maximum drawdown, XTJA dropped -26.17% vs MRCP's -10.73%.

Which ETF is better, XTJA or MRCP?

On 1-year performance, XTJA leads with 19.06% vs 18.03% for MRCP. On fees, MRCP is cheaper at 0.50% 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, XTJA or MRCP?

Over the 1-year period, XTJA has performed better with a 19.06% return vs 18.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XTJA or MRCP?

MRCP is cheaper with a 0.50% expense ratio, compared with 0.79% for XTJA.

Which ETF pays a higher dividend yield, XTJA or MRCP?

XTJA and MRCP have nearly identical dividend yields, around 0.00%.

What is the main difference between XTJA and MRCP?

They also come from different issuers: Innovator and PGIM. Their fees differ too: 0.79% for XTJA and 0.50% for MRCP.

Which has better risk-adjusted returns?

MRCP currently has the higher Sharpe Ratio (2.91 vs 2.28), 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.