XTJL vs. BALT

Last updated Aug 2, 2026

XTJL (Innovator U.S. Equity Accelerated Plus ETF - July) and BALT (Innovator Defined Wealth Shield ETF) are both exchange-traded funds - XTJL is a Leveraged Equities fund actively managed by Innovator, while BALT is a Defined Outcome fund tracking the S&P 500. XTJL is actively managed, while BALT is passively managed. Over the past 5 years, XTJL returned 9.55%/yr vs 5.98%/yr for BALT. Their 0.76 correlation means they have sometimes moved together and sometimes differently. XTJL charges 0.79%/yr vs 0.69%/yr for BALT.

Performance

XTJL vs. BALT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Accelerated Plus ETF - July (XTJL) 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, XTJL achieves a 6.32% return, which is significantly higher than BALT's 2.78% return.

XTJL

• 1D: 0.76%
• 1M: 0.96%
• 6M: 5.49%
• YTD: 6.32%
• 1Y: 14.27%
• 3Y*: 13.98%
• 5Y*: 9.55%
• 10Y*: —
• ALL TIME*: 9.76%

BALT

• 1D: 0.17%
• 1M: 0.45%
• 6M: 2.21%
• YTD: 2.78%
• 1Y: 6.82%
• 3Y*: 6.98%
• 5Y*: 5.98%
• 10Y*: —
• ALL TIME*: 5.93%

*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)
BALT Innovator Defined Wealth Shield ETF	$14.85M	$18.00M	$16.07M
XTJL Innovator U.S. Equity Accelerated Plus ETF - July	$26.11K	$26.81K	$267.40K

XTJL vs. BALT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XTJL Innovator U.S. Equity Accelerated Plus ETF - July	6.32%	15.42%	14.43%	25.72%	-15.66%	7.81%
BALT Innovator Defined Wealth Shield ETF	2.78%	6.65%	9.98%	7.45%	2.54%	0.91%

Correlation

The correlation between XTJL and BALT is 0.80, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.80
Correlation (3Y) Balances recent behavior with more history.	0.79
Correlation (5Y) Shows whether the relationship held over a longer period.	0.76
Correlation (All Time) Calculated using the full available price history since Jul 1, 2021	0.76

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

XTJL vs. BALT - Sectors Allocation Comparison

Sectors	XTJL	BALT
Technology	39.1%	37.9%
Financial Services	10.9%	11.7%
Communication Services	10.7%	10.0%
Consumer Cyclical	9.9%	9.6%
Healthcare	8.3%	9.1%
Industrials	7.8%	8.4%
Consumer Defensive	4.5%	4.6%
Energy	3.1%	3.0%
Utilities	2.1%	2.3%
Real Estate	1.8%	1.9%
Basic Materials	1.7%	1.7%

Return for Risk

XTJL vs. BALT — Risk / Return Rank

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

XTJL

XTJL Risk / Return Rank: 79
XTJL Sharpe Ratio Rank: 74
XTJL Sortino Ratio Rank: 77
XTJL Omega Ratio Rank: 84
XTJL Calmar Ratio Rank: 73
XTJL Martin Ratio Rank: 89

BALT

BALT Risk / Return Rank: 96
BALT Sharpe Ratio Rank: 96
BALT Sortino Ratio Rank: 96
BALT Omega Ratio Rank: 96
BALT Calmar Ratio Rank: 96
BALT 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.

XTJL vs. BALT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Accelerated Plus ETF - July (XTJL) 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.

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.

	XTJL	BALT	Difference
Sharpe ratio: Return per unit of total volatility	1.68	2.91	-1.24
Sortino ratio: Return per unit of downside risk	2.48	4.41	-1.92
Omega ratio: Gain probability vs. loss probability	1.36	1.62	-0.26
Calmar ratio: Return relative to maximum drawdown	2.55	5.71	-3.16
Martin ratio: Return relative to average drawdown	14.07	21.02	-6.95

XTJL vs. BALT - Sharpe Ratio Comparison

The current XTJL Sharpe Ratio is 1.68, which is lower than the BALT Sharpe Ratio of 2.91. The chart below compares the historical Sharpe Ratios of XTJL 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.

Drawdowns

XTJL vs. BALT - Drawdown Comparison

The maximum XTJL drawdown since its inception was -23.24%, which is greater than BALT's maximum drawdown of -4.89%. Use the drawdown chart below to compare losses from any high point for XTJL and BALT.

Drawdown Indicators

	XTJL	BALT	Difference
Max Drawdown Largest peak-to-trough decline	-23.24%	-4.89%	-18.35%
Max Drawdown (1Y) Largest decline over 1 year	-5.12%	-1.15%	-3.97%
Max Drawdown (3Y) Largest decline over 3 years	-16.70%	-4.89%	-11.81%
Max Drawdown (5Y) Largest decline over 5 years	-23.24%	-4.89%	-18.35%
Current Drawdown Current decline from peak	-0.09%	0.00%	-0.09%
Average Drawdown Average peak-to-trough decline	-3.92%	-0.34%	-3.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.93%	0.31%	+0.62%

Volatility

XTJL vs. BALT - Volatility Comparison

Innovator U.S. Equity Accelerated Plus ETF - July (XTJL) has a higher volatility of 2.90% compared to Innovator Defined Wealth Shield ETF (BALT) at 0.80%. This indicates that XTJL's price experiences larger fluctuations and is considered to be riskier than BALT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XTJL	BALT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.90%	0.80%	+2.10%
Volatility (6M) Calculated over the trailing 6-month period	6.12%	1.49%	+4.63%
Volatility (1Y) Calculated over the trailing 1-year period	7.79%	2.27%	+5.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.11%	3.30%	+11.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.03%	3.28%	+11.75%

XTJL vs. BALT - Expense Ratio Comparison

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

Dividends

XTJL vs. BALT - Dividend Comparison

Neither XTJL nor BALT has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XTJL and BALT in my portfolio?

XTJL and BALT have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XTJL or BALT?

XTJL has higher volatility (2.90%) compared to BALT (0.80%). In terms of maximum drawdown, XTJL dropped -23.24% vs BALT's -4.89%.

Which ETF is better, XTJL or BALT?

On 5-year performance, XTJL leads with 9.55% vs 5.98% for BALT. On fees, BALT is cheaper at 0.69% per year. On volatility, BALT has been the lower-risk option at 0.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XTJL or BALT?

Over the 5-year period, XTJL has performed better with a 9.55% return vs 5.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XTJL or BALT?

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

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

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

What is the main difference between XTJL and BALT?

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

Which has better risk-adjusted returns?

BALT currently has the higher Sharpe Ratio (2.91 vs 1.68), 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.