TMSL vs BALT

Comparison between T. ROWE PRICE SMALL-MID CAP ETF (TMSL, ETF) and Innovator Defined Wealth Shield ETF (BALT, ETF).

TMSL vs BALT - Performance Comparison

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Key Characteristics

Financial metrics and valuation ratios

Metric	TMSL(ETF)	BALT(ETF)
Net Assets	$2.40B	$2.50B
Expense Ratio	0.55%	0.69%
Max Drawdown	24.72%	4.89%
Sharpe Ratio	1.35	1.35
5Y Beta	1.06	0.20
P/E Ratio	34.73	N/A
Forward P/E	16.13	N/A
Debt to Equity	54.64%	N/A
P/S Ratio	1.55	N/A
P/B Ratio	3.07	N/A

Net Assets

TMSL

$2.40B

Winner

BALT

$2.50B

Expense Ratio

Winner

TMSL

0.55%

BALT

0.69%

Max Drawdown

TMSL

24.72%

Winner

BALT

4.89%

Sharpe Ratio

TMSL

1.35

Winner

BALT

1.35

5Y Beta

TMSL

1.06

Winner

BALT

0.20

P/E Ratio

TMSL

34.73

BALT

N/A

Forward P/E

TMSL

16.13

BALT

N/A

Debt to Equity

TMSL

54.64%

BALT

N/A

P/S Ratio

TMSL

1.55

BALT

N/A

P/B Ratio

TMSL

3.07

BALT

N/A

TMSL vs BALT - Historical Returns

Returns include dividend reinvestment.

Period	TMSL	BALT
1 month	+4.33%	+0.38%
3 months	+17.92%	+1.79%
6 months	+16.99%	+3.00%
1 year	+32.62%	+6.91%
5 years(CAGR)	N/A	+5.92%
Max(CAGR)	+19.70%	+5.92%

Winner

TMSL

+4.33%

BALT

+0.38%

Winner

TMSL

+17.92%

BALT

+1.79%

Winner

TMSL

+16.99%

BALT

+3.00%

Winner

TMSL

+32.62%

BALT

+6.91%

5Y(CAGR)

TMSL

N/A

BALT

+5.92%

Max(CAGR)

Winner

TMSL

+19.70%

BALT

+5.92%

TMSL vs BALT - Annual Returns (2021 - 2026)

Returns include dividend reinvestment.

Year	TMSL	BALT
2026	+17.01%	+1.94%
2025	+12.04%	+6.57%
2024	+16.39%	+10.32%
2023	+11.22%	+7.61%
2022	N/A	+2.48%
2021	N/A	+0.82%

TMSL vs BALT Drawdown Comparison

The maximum drawdown for TMSL was -24.39%, occurring on Apr 8, 2025. Recovery took 193 trading sessions.

The maximum drawdown for BALT was -4.89%, occurring on Apr 8, 2025. Recovery took 71 trading sessions.

Rank	TMSL	BALT
#1	-24.39% Nov 25, 2024 - Sep 5, 2025	-4.89% Feb 20, 2025 - Jun 3, 2025
#2	-13.22% Jul 31, 2023 - Dec 13, 2023	-2.16% Jan 4, 2022 - Jul 8, 2022
#3	-11.19% Feb 26, 2026 - Apr 17, 2026	-1.98% Aug 25, 2022 - Nov 10, 2022
#4	-8.33% Jul 16, 2024 - Sep 19, 2024	-1.85% Jul 16, 2024 - Aug 19, 2024
#5	-7.68% Mar 28, 2024 - Jul 15, 2024	-1.84% Sep 14, 2023 - Nov 14, 2023
#6	-6.69% Oct 27, 2025 - Nov 28, 2025	-1.15% Feb 25, 2026 - Apr 14, 2026
#7	-4.05% May 6, 2026 - May 26, 2026	-1.14% Aug 30, 2024 - Sep 13, 2024
#8	-4.03% Sep 18, 2025 - Oct 23, 2025	-1.03% Mar 28, 2024 - May 9, 2024
#9	-3.76% Nov 11, 2024 - Nov 22, 2024	-0.85% Jul 31, 2023 - Aug 30, 2023
#10	-3.71% May 26, 2026 - Jun 12, 2026	-0.85% Nov 11, 2025 - Nov 25, 2025
#11	-3.27% Dec 27, 2023 - Jan 22, 2024	-0.76% Dec 16, 2024 - Dec 24, 2024
#12	-3.18% Dec 11, 2025 - Jan 6, 2026	-0.76% Mar 6, 2023 - Mar 21, 2023
#13	-2.93% Oct 17, 2024 - Nov 6, 2024	-0.62% Dec 11, 2025 - Dec 22, 2025
#14	-2.59% Apr 20, 2026 - May 5, 2026	-0.58% Sep 27, 2021 - Oct 19, 2021
#15	-2.56% Jun 15, 2023 - Jun 29, 2023	-0.55% Oct 8, 2025 - Oct 20, 2025