TSPA vs BALT

Comparison between T. ROWE PRICE U.S. EQUITY RESEARCH ETF (TSPA, ETF) and Innovator Defined Wealth Shield ETF (BALT, ETF).

5-Year PerformanceTSPA has outperformed BALT, delivering a return of +14.3% compared to +5.9%

TSPA vs BALT - Performance Comparison

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Key Characteristics

Financial metrics and valuation ratios

Metric	TSPA(ETF)	BALT(ETF)
Net Assets	$2.10B	$2.20B
Expense Ratio	0.34%	0.69%
Max Drawdown	24.72%	4.89%
Sharpe Ratio	2.00	1.74
5Y Beta	0.97	0.21
P/E Ratio	29.92	N/A
Forward P/E	22.50	N/A
PEG Ratio	0.59	N/A
5Y EPS CAGR	28.25%	N/A
Debt to Equity	44.08%	N/A
P/S Ratio	3.64	N/A
P/B Ratio	5.41	N/A

Net Assets

TSPA

$2.10B

Winner

BALT

$2.20B

Expense Ratio

Winner

TSPA

0.34%

BALT

0.69%

Max Drawdown

TSPA

24.72%

Winner

BALT

4.89%

Sharpe Ratio

Winner

TSPA

2.00

BALT

1.74

5Y Beta

TSPA

0.97

Winner

BALT

0.21

P/E Ratio

TSPA

29.92

BALT

N/A

Forward P/E

TSPA

22.50

BALT

N/A

PEG Ratio

TSPA

0.59

BALT

N/A

5Y EPS CAGR

TSPA

28.25%

BALT

N/A

Debt to Equity

TSPA

44.08%

BALT

N/A

P/S Ratio

TSPA

3.64

BALT

N/A

P/B Ratio

TSPA

5.41

BALT

N/A

TSPA vs BALT - Historical Returns

Returns include dividend reinvestment.

Period	TSPA	BALT
1 month	+9.39%	+0.89%
3 months	+6.99%	+0.70%
6 months	+11.27%	+3.17%
1 year	+32.17%	+7.68%
5 years(CAGR)	+14.33%	+5.92%
Max(CAGR)	+14.33%	+5.92%

Winner

TSPA

+9.39%

BALT

+0.89%

Winner

TSPA

+6.99%

BALT

+0.70%

Winner

TSPA

+11.27%

BALT

+3.17%

Winner

TSPA

+32.17%

BALT

+7.68%

5Y(CAGR)

Winner

TSPA

+14.33%

BALT

+5.92%

Max(CAGR)

Winner

TSPA

+14.33%

BALT

+5.92%

TSPA vs BALT - Annual Returns (2021 - 2026)

Returns include dividend reinvestment.

Year	TSPA	BALT
2026	+8.86%	+1.37%
2025	+16.49%	+6.57%
2024	+27.28%	+10.32%
2023	+30.41%	+7.61%
2022	-19.11%	+2.48%
2021	+13.72%	+0.82%

TSPA vs BALT Drawdown Comparison

The maximum drawdown for TSPA was -24.72%, occurring on Oct 12, 2022. Recovery took 478 trading sessions.

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

The current BALT drawdown is -0.06%.

Rank	TSPA	BALT
#1	-24.72% Dec 29, 2021 - Nov 22, 2023	-4.89% Feb 20, 2025 - Jun 3, 2025
#2	-19.04% Feb 19, 2025 - Jun 27, 2025	-2.16% Jan 4, 2022 - Jul 8, 2022
#3	-9.24% Jan 29, 2026 - Apr 14, 2026	-1.98% Aug 25, 2022 - Nov 10, 2022
#4	-8.90% Jul 16, 2024 - Sep 19, 2024	-1.85% Jul 16, 2024 - Aug 19, 2024
#5	-5.49% Mar 28, 2024 - May 14, 2024	-1.84% Sep 14, 2023 - Nov 14, 2023
#6	-5.40% Oct 29, 2025 - Dec 11, 2025	-1.15% Feb 25, 2026 - Apr 14, 2026
#7	-4.78% Aug 30, 2021 - Oct 19, 2021	-1.14% Aug 30, 2024 - Sep 13, 2024
#8	-4.16% Nov 16, 2021 - Dec 23, 2021	-1.03% Mar 28, 2024 - May 9, 2024
#9	-3.91% Dec 6, 2024 - Jan 22, 2025	-0.85% Jul 31, 2023 - Aug 30, 2023
#10	-2.97% Oct 8, 2025 - Oct 24, 2025	-0.85% Nov 11, 2025 - Nov 25, 2025
#11	-2.82% Jul 12, 2021 - Jul 23, 2021	-0.76% Dec 16, 2024 - Dec 24, 2024
#12	-2.77% Dec 11, 2025 - Dec 23, 2025	-0.76% Mar 6, 2023 - Mar 21, 2023
#13	-2.64% Oct 14, 2024 - Nov 6, 2024	-0.62% Dec 11, 2025 - Dec 22, 2025
#14	-2.59% Jan 12, 2026 - Jan 27, 2026	-0.58% Sep 27, 2021 - Oct 19, 2021
#15	-2.36% Nov 11, 2024 - Nov 26, 2024	-0.55% Oct 8, 2025 - Oct 20, 2025