ZALT vs FMAT

Comparison between Innovator U.S. Equity 10 Buffer ETF - Quarterly (ZALT, ETF) and FIDELITY MSCI MATERIALS INDEX ETF (FMAT, ETF).

ZALT vs FMAT - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	ZALT(ETF)	FMAT(ETF)
Net Assets	$619M	$616M
Expense Ratio	0.69%	0.08%
Max Drawdown	8.19%	43.86%
Sharpe Ratio	1.49	1.00
5Y Beta	0.37	0.87
P/E Ratio	N/A	30.88
Forward P/E	N/A	17.26
5Y Dividends CAGR	N/A	4.45%
5Y EPS CAGR	N/A	19.31%
Debt to Equity	N/A	50.45%
P/S Ratio	N/A	2.08
P/B Ratio	N/A	2.99

Net Assets

Winner

ZALT

$619M

FMAT

$616M

Expense Ratio

ZALT

0.69%

Winner

FMAT

0.08%

Max Drawdown

Winner

ZALT

8.19%

FMAT

43.86%

Sharpe Ratio

Winner

ZALT

1.49

FMAT

1.00

5Y Beta

Winner

ZALT

0.37

FMAT

0.87

P/E Ratio

ZALT

N/A

FMAT

30.88

Forward P/E

ZALT

N/A

FMAT

17.26

5Y Dividends CAGR

ZALT

N/A

FMAT

4.45%

5Y EPS CAGR

ZALT

N/A

FMAT

19.31%

Debt to Equity

ZALT

N/A

FMAT

50.45%

P/S Ratio

ZALT

N/A

FMAT

2.08

P/B Ratio

ZALT

N/A

FMAT

2.99

ZALT vs FMAT - Historical Returns

Returns include dividend reinvestment.

Period	ZALT	FMAT
1 month	+0.68%	+4.49%
3 months	+3.74%	+6.40%
6 months	+4.27%	+15.40%
1 year	+10.06%	+23.91%
5 years(CAGR)	N/A	+6.77%
10 years(CAGR)	N/A	+10.61%
Max(CAGR)	+10.89%	+9.15%

ZALT

+0.68%

Winner

FMAT

+4.49%

ZALT

+3.74%

Winner

FMAT

+6.40%

ZALT

+4.27%

Winner

FMAT

+15.40%

ZALT

+10.06%

Winner

FMAT

+23.91%

5Y(CAGR)

ZALT

N/A

FMAT

+6.77%

10Y(CAGR)

ZALT

N/A

FMAT

+10.61%

Max(CAGR)

Winner

ZALT

+10.89%

FMAT

+9.15%

ZALT vs FMAT - Annual Returns (2013 - 2026)

Returns include dividend reinvestment.

Year	ZALT	FMAT
2026	+3.74%	+12.90%
2025	+9.19%	+13.29%
2024	+12.17%	+0.84%
2023	+3.95%	+13.85%
2022	N/A	-10.66%
2021	N/A	+28.83%
2020	N/A	+20.79%
2019	N/A	+22.83%
2018	N/A	-18.83%
2017	N/A	+22.61%
2016	N/A	+23.44%
2015	N/A	-10.02%
2014	N/A	+6.47%
2013	N/A	+5.12%

ZALT vs FMAT Drawdown Comparison

The maximum drawdown for ZALT was -8.19%, occurring on Apr 8, 2025. Recovery took 59 trading sessions.

The maximum drawdown for FMAT was -41.08%, occurring on Mar 23, 2020. Recovery took 654 trading sessions.

The current FMAT drawdown is -2.54%.

Rank	ZALT	FMAT
#1	-8.19% Feb 20, 2025 - May 15, 2025	-41.08% Jan 26, 2018 - Sep 1, 2020
#2	-3.28% Jul 16, 2024 - Aug 16, 2024	-27.23% Feb 24, 2015 - Nov 15, 2016
#3	-2.01% Oct 16, 2023 - Nov 3, 2023	-25.40% Apr 20, 2022 - Feb 29, 2024
#4	-1.86% Mar 28, 2024 - May 9, 2024	-23.17% Oct 18, 2024 - Dec 26, 2025
#5	-1.71% Feb 25, 2026 - Apr 8, 2026	-13.47% Feb 27, 2026 - Mar 20, 2026
#6	-1.52% Nov 11, 2025 - Nov 26, 2025	-12.14% Sep 5, 2014 - Feb 12, 2015
#7	-1.45% Aug 30, 2024 - Sep 12, 2024	-10.68% Jan 4, 2022 - Mar 25, 2022
#8	-1.41% Dec 26, 2024 - Jan 22, 2025	-10.63% May 17, 2021 - Nov 8, 2021
#9	-1.30% Oct 8, 2025 - Oct 20, 2025	-9.11% Jan 12, 2021 - Mar 10, 2021
#10	-1.26% Dec 16, 2024 - Dec 26, 2024	-7.81% Sep 17, 2020 - Oct 9, 2020
#11	-1.23% Dec 11, 2025 - Dec 22, 2025	-7.72% Nov 12, 2021 - Dec 29, 2021
#12	-0.94% Dec 26, 2025 - Jan 26, 2026	-6.81% Apr 9, 2024 - Jul 31, 2024
#13	-0.85% Feb 2, 2026 - Feb 11, 2026	-6.69% Dec 31, 2013 - Feb 14, 2014
#14	-0.85% Oct 22, 2024 - Nov 6, 2024	-6.65% Oct 12, 2020 - Nov 3, 2020
#15	-0.77% Jul 29, 2025 - Aug 8, 2025	-6.57% Jul 31, 2024 - Aug 26, 2024