ZJUL vs. IBIC
ZJUL (Innovator Equity Defined Protection ETF - 1 Yr July) and IBIC (iShares iBonds Oct 2026 Term TIPS ETF) are both exchange-traded funds - ZJUL is a Defined Outcome fund actively managed by Innovator, while IBIC is a Inflation-Protected Bonds fund tracking the ICE 2026 Maturity US Inflation-Linked Treasury Index. ZJUL is actively managed, while IBIC is passively managed. Over the past year, ZJUL returned 7.56% vs 4.54% for IBIC. At a correlation of -0.18, they often move in opposite directions. ZJUL charges 0.79%/yr vs 0.10%/yr for IBIC.
Performance
ZJUL vs. IBIC - Performance Comparison
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Returns By Period
In the year-to-date period, ZJUL achieves a 2.58% return, which is significantly higher than IBIC's 2.37% return.
ZJUL
- 1D
- 0.02%
- 1M
- 0.66%
- YTD
- 2.58%
- 6M
- 2.81%
- 1Y
- 7.56%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBIC
- 1D
- 0.02%
- 1M
- 0.27%
- YTD
- 2.37%
- 6M
- 2.51%
- 1Y
- 4.54%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZJUL vs. IBIC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ZJUL Innovator Equity Defined Protection ETF - 1 Yr July | 2.58% | 7.47% | 4.02% |
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 2.37% | 4.96% | 2.90% |
Correlation
The correlation between ZJUL and IBIC is -0.31, 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 | -0.31 |
Correlation (All Time) Calculated using the full available price history since Jul 2, 2024 | -0.18 |
The correlation between ZJUL and IBIC shifts across timeframes, from -0.31 (1 year) to -0.18 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ZJUL vs. IBIC — Risk / Return Rank
ZJUL
IBIC
ZJUL vs. IBIC - 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 iShares iBonds Oct 2026 Term TIPS ETF (IBIC). 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.
| ZJUL | IBIC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.14 | ||
| Sortino ratioReturn per unit of downside risk | -4.34 | ||
| Omega ratioGain probability vs. loss probability | 1.62 | 2.24 | -0.62 |
| Calmar ratioReturn relative to maximum drawdown | 5.29 | 17.27 | -11.98 |
| Martin ratioReturn relative to average drawdown | 28.77 | 67.45 | -38.68 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ZJUL | IBIC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.91 | 5.05 | -2.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.60 | 3.49 | -1.89 |
Drawdowns
ZJUL vs. IBIC - Drawdown Comparison
The maximum ZJUL drawdown since its inception was -5.51%, which is greater than IBIC's maximum drawdown of -0.90%. Use the drawdown chart below to compare losses from any high point for ZJUL and IBIC.
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Drawdown Indicators
| ZJUL | IBIC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.51% | -0.90% | -4.61% |
Max Drawdown (1Y)Largest decline over 1 year | -1.43% | -0.26% | -1.17% |
Current DrawdownCurrent decline from peak | 0.00% | -0.13% | +0.13% |
Average DrawdownAverage peak-to-trough decline | -0.47% | -0.10% | -0.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.26% | 0.07% | +0.19% |
Volatility
ZJUL vs. IBIC - Volatility Comparison
The current volatility for Innovator Equity Defined Protection ETF - 1 Yr July (ZJUL) is 0.24%, while iShares iBonds Oct 2026 Term TIPS ETF (IBIC) has a volatility of 0.33%. This indicates that ZJUL experiences smaller price fluctuations and is considered to be less risky than IBIC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZJUL | IBIC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.24% | 0.33% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 1.83% | 0.67% | +1.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.62% | 0.90% | +1.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.65% | 1.58% | +3.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.65% | 1.58% | +3.07% |
ZJUL vs. IBIC - Expense Ratio Comparison
ZJUL has a 0.79% expense ratio, which is higher than IBIC's 0.10% expense ratio.
Dividends
ZJUL vs. IBIC - Dividend Comparison
ZJUL has not paid dividends to shareholders, while IBIC's dividend yield for the trailing twelve months is around 3.59%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 3.59% | 4.43% | 4.65% | 0.83% |
ZJUL Innovator Equity Defined Protection ETF - 1 Yr July | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZJUL and IBIC have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIC has higher volatility (0.33%) compared to ZJUL (0.24%). In terms of maximum drawdown, ZJUL dropped -5.51% vs IBIC's -0.90%.
On 1-year performance, ZJUL leads with 7.56% vs 4.54% for IBIC. On fees, IBIC is cheaper at 0.10% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ZJUL has performed better with a 7.56% return vs 4.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIC is cheaper with a 0.10% expense ratio, compared with 0.79% for ZJUL.
IBIC has the higher dividend yield at 3.59%, compared with 0.00% for ZJUL.
ZJUL is categorized as Defined Outcome, while IBIC is Inflation-Protected Bonds. They also come from different issuers: Innovator and iShares. Their fees differ too: 0.79% for ZJUL and 0.10% for IBIC.
IBIC currently has the higher Sharpe Ratio (5.05 vs 2.91), 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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