ZDEK vs. BAMU

Last updated Jun 23, 2026

ZDEK (Innovator Equity Defined Protection ETF - 1 Yr December) and BAMU (Brookstone Ultra-Short Bond ETF) are both exchange-traded funds - ZDEK is a Defined Outcome fund actively managed by Innovator, while BAMU is a Ultrashort Bond fund actively managed by Brookstone. Both are actively managed. Over the past year, ZDEK returned 9.00% vs 2.91% for BAMU. At a correlation of -0.04, they often move in opposite directions. ZDEK charges 0.79%/yr vs 1.09%/yr for BAMU.

Performance

ZDEK vs. BAMU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Equity Defined Protection ETF - 1 Yr December (ZDEK) and Brookstone Ultra-Short Bond ETF (BAMU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ZDEK achieves a 2.58% return, which is significantly higher than BAMU's 1.18% return.

ZDEK

• 1D: -0.02%
• 1M: 0.26%
• YTD: 2.58%
• 6M: 2.64%
• 1Y: 9.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BAMU

• 1D: 0.02%
• 1M: 0.16%
• YTD: 1.18%
• 6M: 1.23%
• 1Y: 2.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ZDEK vs. BAMU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ZDEK Innovator Equity Defined Protection ETF - 1 Yr December	2.58%	7.78%	-0.33%
BAMU Brookstone Ultra-Short Bond ETF	1.18%	3.21%	0.21%

Correlation

The correlation between ZDEK and BAMU is -0.15, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.15
Correlation (All Time) Calculated using the full available price history since Dec 2, 2024	-0.04

The correlation between ZDEK and BAMU shifts across timeframes, from -0.15 (1 year) to -0.04 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ZDEK vs. BAMU — Risk / Return Rank

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

ZDEK

ZDEK Risk / Return Rank: 95
ZDEK Sharpe Ratio Rank: 94
ZDEK Sortino Ratio Rank: 96
ZDEK Omega Ratio Rank: 95
ZDEK Calmar Ratio Rank: 92
ZDEK Martin Ratio Rank: 95

BAMU

BAMU Risk / Return Rank: 98
BAMU Sharpe Ratio Rank: 98
BAMU Sortino Ratio Rank: 98
BAMU Omega Ratio Rank: 98
BAMU Calmar Ratio Rank: 99
BAMU 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.

ZDEK vs. BAMU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Defined Protection ETF - 1 Yr December (ZDEK) and Brookstone Ultra-Short Bond ETF (BAMU). 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.

	ZDEK	BAMU	Difference
Sharpe ratio: Return per unit of total volatility	3.36	5.01	-1.65
Sortino ratio: Return per unit of downside risk	5.23	8.84	-3.60
Omega ratio: Gain probability vs. loss probability	1.73	2.43	-0.70
Calmar ratio: Return relative to maximum drawdown	6.00	24.72	-18.72
Martin ratio: Return relative to average drawdown	30.59	97.90	-67.30

ZDEK vs. BAMU - Sharpe Ratio Comparison

The current ZDEK Sharpe Ratio is 3.36, which is lower than the BAMU Sharpe Ratio of 5.01. The chart below compares the historical Sharpe Ratios of ZDEK and BAMU, 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

ZDEK vs. BAMU - Drawdown Comparison

The maximum ZDEK drawdown since its inception was -3.40%, which is greater than BAMU's maximum drawdown of -0.36%. Use the drawdown chart below to compare losses from any high point for ZDEK and BAMU.

Drawdown Indicators

	ZDEK	BAMU	Difference
Max Drawdown Largest peak-to-trough decline	-3.40%	-0.36%	-3.04%
Max Drawdown (1Y) Largest decline over 1 year	-1.51%	-0.12%	-1.39%
Current Drawdown Current decline from peak	-0.08%	0.00%	-0.08%
Average Drawdown Average peak-to-trough decline	-0.44%	-0.02%	-0.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.29%	0.03%	+0.26%

Volatility

ZDEK vs. BAMU - Volatility Comparison

Innovator Equity Defined Protection ETF - 1 Yr December (ZDEK) has a higher volatility of 0.67% compared to Brookstone Ultra-Short Bond ETF (BAMU) at 0.09%. This indicates that ZDEK's price experiences larger fluctuations and is considered to be riskier than BAMU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZDEK	BAMU	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.67%	0.09%	+0.58%
Volatility (6M) Calculated over the trailing 6-month period	1.72%	0.40%	+1.32%
Volatility (1Y) Calculated over the trailing 1-year period	2.70%	0.58%	+2.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.30%	0.87%	+2.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.30%	0.87%	+2.43%

ZDEK vs. BAMU - Expense Ratio Comparison

ZDEK has a 0.79% expense ratio, which is lower than BAMU's 1.09% expense ratio.

Dividends

ZDEK vs. BAMU - Dividend Comparison

ZDEK has not paid dividends to shareholders, while BAMU's dividend yield for the trailing twelve months is around 3.05%.

Position	TTM	2025	2024	2023
BAMU Brookstone Ultra-Short Bond ETF	3.05%	3.20%	3.97%	0.84%
ZDEK Innovator Equity Defined Protection ETF - 1 Yr December	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ZDEK and BAMU in my portfolio?

ZDEK and BAMU have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ZDEK or BAMU?

ZDEK has higher volatility (0.67%) compared to BAMU (0.09%). In terms of maximum drawdown, ZDEK dropped -3.40% vs BAMU's -0.36%.

Which ETF is better, ZDEK or BAMU?

On 1-year performance, ZDEK leads with 9.00% vs 2.91% for BAMU. On fees, ZDEK is cheaper at 0.79% per year. On volatility, BAMU has been the lower-risk option at 0.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ZDEK or BAMU?

Over the 1-year period, ZDEK has performed better with a 9.00% return vs 2.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ZDEK or BAMU?

ZDEK is cheaper with a 0.79% expense ratio, compared with 1.09% for BAMU.

Which ETF pays a higher dividend yield, ZDEK or BAMU?

BAMU has the higher dividend yield at 3.05%, compared with 0.00% for ZDEK.

What is the main difference between ZDEK and BAMU?

ZDEK is categorized as Defined Outcome, while BAMU is Ultrashort Bond. They also come from different issuers: Innovator and Brookstone. Their fees differ too: 0.79% for ZDEK and 1.09% for BAMU.

Which has better risk-adjusted returns?

BAMU currently has the higher Sharpe Ratio (5.01 vs 3.36), 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.