ZJUL vs. FTGC
ZJUL (Innovator Equity Defined Protection ETF - 1 Yr July) and FTGC (First Trust Global Tactical Commodity Strategy Fund) are both exchange-traded funds - ZJUL is a Defined Outcome fund actively managed by Innovator, while FTGC is a Commodities fund actively managed by First Trust. Both are actively managed. Over the past year, ZJUL returned 7.15% vs 26.86% for FTGC. At a 0.04 correlation, their price movements are largely independent. ZJUL charges 0.79%/yr vs 0.95%/yr for FTGC.
Performance
ZJUL vs. FTGC - Performance Comparison
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Returns By Period
In the year-to-date period, ZJUL achieves a 2.84% return, which is significantly lower than FTGC's 20.23% return.
ZJUL
- 1D
- 0.12%
- 1M
- 0.42%
- YTD
- 2.84%
- 6M
- 2.82%
- 1Y
- 7.15%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FTGC
- 1D
- -0.24%
- 1M
- -6.30%
- YTD
- 20.23%
- 6M
- 20.44%
- 1Y
- 26.86%
- 3Y*
- 14.70%
- 5Y*
- 12.56%
- 10Y*
- 7.28%
ZJUL vs. FTGC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ZJUL Innovator Equity Defined Protection ETF - 1 Yr July | 2.84% | 7.47% | 4.06% |
FTGC First Trust Global Tactical Commodity Strategy Fund | 20.23% | 14.61% | 1.66% |
Correlation
The correlation between ZJUL and FTGC is -0.10, 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 | -0.10 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2024 | 0.04 |
The correlation between ZJUL and FTGC shifts across timeframes, from -0.10 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ZJUL vs. FTGC — Risk / Return Rank
ZJUL
FTGC
ZJUL vs. FTGC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Defined Protection ETF - 1 Yr July (ZJUL) and First Trust Global Tactical Commodity Strategy Fund (FTGC). 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.
| ZJUL | FTGC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.19 | ||
| Sortino ratioReturn per unit of downside risk | +2.51 | ||
| Omega ratioGain probability vs. loss probability | 1.63 | 1.31 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 5.01 | 2.74 | +2.26 |
| Martin ratioReturn relative to average drawdown | 27.59 | 9.43 | +18.16 |
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Drawdowns
ZJUL vs. FTGC - Drawdown Comparison
The maximum ZJUL drawdown since its inception was -5.51%, smaller than the maximum FTGC drawdown of -59.47%. Use the drawdown chart below to compare losses from any high point for ZJUL and FTGC.
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Drawdown Indicators
| ZJUL | FTGC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.51% | -59.47% | +53.96% |
Max Drawdown (1Y)Largest decline over 1 year | -1.43% | -9.84% | +8.41% |
Max Drawdown (3Y)Largest decline over 3 years | — | -10.39% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -22.64% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.91% | — |
Current DrawdownCurrent decline from peak | 0.00% | -9.84% | +9.84% |
Average DrawdownAverage peak-to-trough decline | -0.45% | -27.34% | +26.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.26% | 2.98% | -2.72% |
Volatility
ZJUL vs. FTGC - Volatility Comparison
The current volatility for Innovator Equity Defined Protection ETF - 1 Yr July (ZJUL) is 0.19%, while First Trust Global Tactical Commodity Strategy Fund (FTGC) has a volatility of 2.99%. This indicates that ZJUL experiences smaller price fluctuations and is considered to be less risky than FTGC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZJUL | FTGC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.19% | 2.99% | -2.80% |
Volatility (6M)Calculated over the trailing 6-month period | 1.80% | 13.17% | -11.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.47% | 15.69% | -13.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.59% | 15.86% | -11.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.59% | 14.71% | -10.12% |
ZJUL vs. FTGC - Expense Ratio Comparison
ZJUL has a 0.79% expense ratio, which is lower than FTGC's 0.95% expense ratio.
Dividends
ZJUL vs. FTGC - Dividend Comparison
ZJUL has not paid dividends to shareholders, while FTGC's dividend yield for the trailing twelve months is around 15.95%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FTGC First Trust Global Tactical Commodity Strategy Fund | 15.95% | 17.74% | 3.05% | 3.34% | 10.35% | 7.21% | 0.00% | 0.81% | 0.80% | 1.21% |
ZJUL Innovator Equity Defined Protection ETF - 1 Yr July | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZJUL and FTGC have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FTGC has higher volatility (2.99%) compared to ZJUL (0.19%). In terms of maximum drawdown, ZJUL dropped -5.51% vs FTGC's -59.47%.
On 1-year performance, FTGC leads with 26.86% vs 7.15% for ZJUL. On fees, ZJUL is cheaper at 0.79% per year. On volatility, ZJUL has been the lower-risk option at 0.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FTGC has performed better with a 26.86% return vs 7.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ZJUL is cheaper with a 0.79% expense ratio, compared with 0.95% for FTGC.
FTGC has the higher dividend yield at 15.95%, compared with 0.00% for ZJUL.
ZJUL is categorized as Defined Outcome, while FTGC is Commodities. They also come from different issuers: Innovator and First Trust. Their fees differ too: 0.79% for ZJUL and 0.95% for FTGC.
ZJUL currently has the higher Sharpe Ratio (2.91 vs 1.72), 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.
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