XUSP vs. APRJ

Last updated Jun 4, 2026

XUSP (Innovator Uncapped Accelerated U.S. Equity ETF) and APRJ (Innovator Premium Income 30 Barrier ETF - April) are both Options Trading funds from Innovator. Both are actively managed. Over the past 3 years, XUSP returned 25.24%/yr vs 6.35%/yr for APRJ. A 0.52 correlation means they provide meaningful diversification when combined. Both charge a 0.79% expense ratio.

Performance

XUSP vs. APRJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Uncapped Accelerated U.S. Equity ETF (XUSP) and Innovator Premium Income 30 Barrier ETF - April (APRJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XUSP achieves a 12.67% return, which is significantly higher than APRJ's 3.18% return.

XUSP

• 1D: -0.86%
• 1M: 7.03%
• YTD: 12.67%
• 6M: 12.12%
• 1Y: 33.74%
• 3Y*: 25.24%
• 5Y*: —
• 10Y*: —

APRJ

• 1D: -0.10%
• 1M: 0.70%
• YTD: 3.18%
• 6M: 3.64%
• 1Y: 6.91%
• 3Y*: 6.35%
• 5Y*: —
• 10Y*: —

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

XUSP vs. APRJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
XUSP Innovator Uncapped Accelerated U.S. Equity ETF	12.67%	18.27%	30.60%	17.53%
APRJ Innovator Premium Income 30 Barrier ETF - April	3.18%	5.71%	6.24%	5.38%

Correlation

The correlation between XUSP and APRJ is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (All Time) Calculated using the full available price history since Apr 4, 2023	0.52

The correlation between XUSP and APRJ has been stable across timeframes, ranging from 0.44 to 0.52 - a consistent structural relationship.

XUSP vs. APRJ - Sectors Allocation Comparison

Sectors	XUSP	APRJ
Technology	36.2%	33.6%
Financial Services	11.9%	12.4%
Communication Services	10.9%	10.5%
Consumer Cyclical	10.1%	10.0%
Healthcare	8.4%	9.5%
Industrials	8.1%	8.5%
Consumer Defensive	4.9%	5.3%
Energy	3.5%	4.0%
Utilities	2.3%	2.5%
Real Estate	1.9%	2.0%
Basic Materials	1.8%	1.9%

Return for Risk

XUSP vs. APRJ — Risk / Return Rank

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

XUSP

XUSP Risk / Return Rank: 62
XUSP Sharpe Ratio Rank: 64
XUSP Sortino Ratio Rank: 61
XUSP Omega Ratio Rank: 61
XUSP Calmar Ratio Rank: 57
XUSP Martin Ratio Rank: 65

APRJ

APRJ Risk / Return Rank: 98
APRJ Sharpe Ratio Rank: 97
APRJ Sortino Ratio Rank: 99
APRJ Omega Ratio Rank: 98
APRJ Calmar Ratio Rank: 99
APRJ Martin Ratio Rank: 99

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.

XUSP vs. APRJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Uncapped Accelerated U.S. Equity ETF (XUSP) and Innovator Premium Income 30 Barrier ETF - April (APRJ). 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.

	XUSP	APRJ	Difference
Sharpe ratio: Return per unit of total volatility	2.13	4.63	-2.49
Sortino ratio: Return per unit of downside risk	2.87	9.47	-6.60
Omega ratio: Gain probability vs. loss probability	1.37	2.20	-0.83
Calmar ratio: Return relative to maximum drawdown	2.80	34.55	-31.76
Martin ratio: Return relative to average drawdown	11.82	103.47	-91.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XUSP vs. APRJ - Sharpe Ratio Comparison

The current XUSP Sharpe Ratio is 2.13, which is lower than the APRJ Sharpe Ratio of 4.63. The chart below compares the historical Sharpe Ratios of XUSP and APRJ, 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

	XUSP	APRJ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.13	4.63	-2.49
Sharpe Ratio (All Time) Calculated using the full available price history	1.04	1.80	-0.76

Drawdowns

XUSP vs. APRJ - Drawdown Comparison

The maximum XUSP drawdown since its inception was -22.59%, which is greater than APRJ's maximum drawdown of -4.68%. Use the drawdown chart below to compare losses from any high point for XUSP and APRJ.

Drawdown Indicators

	XUSP	APRJ	Difference
Max Drawdown Largest peak-to-trough decline	-22.59%	-4.68%	-17.91%
Max Drawdown (1Y) Largest decline over 1 year	-12.13%	-0.20%	-11.93%
Max Drawdown (3Y) Largest decline over 3 years	-22.59%	-4.68%	-17.91%
Current Drawdown Current decline from peak	-0.86%	-0.12%	-0.74%
Average Drawdown Average peak-to-trough decline	-4.42%	-0.12%	-4.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.86%	0.07%	+2.79%

Volatility

XUSP vs. APRJ - Volatility Comparison

Innovator Uncapped Accelerated U.S. Equity ETF (XUSP) has a higher volatility of 4.13% compared to Innovator Premium Income 30 Barrier ETF - April (APRJ) at 0.47%. This indicates that XUSP's price experiences larger fluctuations and is considered to be riskier than APRJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XUSP	APRJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.13%	0.47%	+3.66%
Volatility (6M) Calculated over the trailing 6-month period	11.89%	1.14%	+10.75%
Volatility (1Y) Calculated over the trailing 1-year period	15.90%	1.50%	+14.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.21%	3.63%	+15.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.21%	3.63%	+15.58%

XUSP vs. APRJ - Expense Ratio Comparison

Both XUSP and APRJ have an expense ratio of 0.79%.

Dividends

XUSP vs. APRJ - Dividend Comparison

XUSP has not paid dividends to shareholders, while APRJ's dividend yield for the trailing twelve months is around 5.27%.

Position	TTM	2025	2024	2023
APRJ Innovator Premium Income 30 Barrier ETF - April	5.27%	5.46%	5.88%	4.88%
XUSP Innovator Uncapped Accelerated U.S. Equity ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XUSP and APRJ in my portfolio?

XUSP and APRJ have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XUSP or APRJ?

XUSP has higher volatility (4.13%) compared to APRJ (0.47%). In terms of maximum drawdown, XUSP dropped -22.59% vs APRJ's -4.68%.

Which ETF is better, XUSP or APRJ?

On 3-year performance, XUSP leads with 25.24% vs 6.35% for APRJ. Both ETFs have the same 0.79% expense ratio. On volatility, APRJ has been the lower-risk option at 0.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XUSP or APRJ?

Over the 3-year period, XUSP has performed better with a 25.24% return vs 6.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XUSP or APRJ?

XUSP and APRJ have the same expense ratio: 0.79% per year.

Which ETF pays a higher dividend yield, XUSP or APRJ?

APRJ has the higher dividend yield at 5.27%, compared with 0.00% for XUSP.

Which has better risk-adjusted returns?

APRJ currently has the higher Sharpe Ratio (4.63 vs 2.13), 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.