Innovator U.S. Small Cap Power Buffer ETF - May (KMAY) belongs to the Defined Outcome category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with KMAY. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to KMAY
KMAY charges 0.79% annually. There are 94 ETFs in the Defined Outcome category with lower expense ratios, going as low as 0.25%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Aptus April Buffer ETF | 0.25% | — | Oct 2025 | KMAY vs APRB | |
| Aptus July Buffer ETF | 0.25% | — | Oct 2025 | KMAY vs JULB | |
| Aptus October Buffer ETF | 0.25% | — | Oct 2025 | KMAY vs OCTB | |
| Aptus January Buffer ETF | 0.25% | — | Oct 2025 | KMAY vs JANB | |
| Fidelity Dynamic Buffered Equity ETF | 0.48% | — | Apr 2024 | KMAY vs FBUF |
Best Risk-Adjusted Alternatives to KMAY
KMAY has a PortfoliosLab risk / return rank of 94. There are 73 ETFs in the Defined Outcome category with higher risk-adjusted ranks, going as high as 99.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | 99 | — | Mar 2025 | KMAY vs PMAP | |
| iShares Large Cap Max Buffer Mar ETF | 98 | — | Mar 2025 | KMAY vs MMAX | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 98 | 21.00M | Apr 2025 | KMAY vs CPSP | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | 98 | — | Apr 2025 | KMAY vs ZAPR | |
| Calamos Russell 2000 Structured Alt Protection ETF... | 98 | 13.20M | Apr 2025 | KMAY vs CPRA |
Top Performing KMAY Alternatives (YTD)
KMAY is at 7.48% YTD. There are 116 ETFs in the Defined Outcome category with higher YTD returns, going as high as 16.35%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Leverage Shares 2x Capped Accelerated NVDA Monthly... | 16.35% | — | Aug 2025 | KMAY vs NVDO | |
| ProShares Nasdaq-100 Dynamic Daily Buffer ETF | 14.64% | 2.87M | Jun 2025 | KMAY vs QB | |
| Innovator U.S. Small Cap Power Buffer ETF - Februa... | 14.50% | — | Jan 2025 | KMAY vs KFEB | |
| Innovator Russell 2000 Power Buffer ETF - April | 14.35% | 214.27M | Mar 2020 | KMAY vs KAPR | |
| FT Cboe Vest Nasdaq-100 Buffer ETF - March | 13.48% | 566.25M | Mar 2021 | KMAY vs QMAR |
Lowest Volatility Alternatives to KMAY
KMAY has 6.52% 1-year volatility. There are 164 ETFs in the Defined Outcome category with lower 1-year volatility, going as low as 1.18%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | 1.18% | — | Mar 2025 | KMAY vs PMAP | |
| FT Vest U.S. Equity Max Buffer ETF - April | 1.34% | — | Apr 2025 | KMAY vs APXM | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 1.40% | 21.00M | Apr 2025 | KMAY vs CPSP | |
| PGIM S&P 500 Max Buffer ETF - May | 1.42% | — | Apr 2025 | KMAY vs PMMY | |
| iShares Large Cap Max Buffer Mar ETF | 1.45% | — | Mar 2025 | KMAY vs MMAX |
Lowest Drawdown Alternatives to KMAY
KMAY has a 1-year max drawdown of -2.38%. There are 77 ETFs in the Defined Outcome category with shallower 1-year drawdowns, going as shallow as -0.35%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | -0.35% | — | Mar 2025 | KMAY vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | -0.37% | 21.00M | Apr 2025 | KMAY vs CPSP | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | -0.40% | — | Apr 2025 | KMAY vs ZAPR | |
| iShares Large Cap Max Buffer Mar ETF | -0.46% | — | Mar 2025 | KMAY vs MMAX | |
| Calamos S&P 500 Structured Alt Protection ETF - Ma... | -0.49% | 56.60M | May 2024 | KMAY vs CPSM |
Other ETFs from Innovator
The 10 most viewed Innovator ETFs shown here include BALT, BUFF, SFLR and span 5 categories. AUM among these funds goes as high as $3B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Innovator Defined Wealth Shield ETF | Defined Outcome | 96 | 3.34% | 2.72B | Jun 2021 | KMAY vs BALT | |
| Innovator Laddered Allocation Power Buffer ETF | Defined Outcome | 90 | 7.50% | 923.55M | Oct 2016 | KMAY vs BUFF | |
| Innovator Equity Managed Floor ETF | Options Trading | 50 | 5.77% | 2.11B | Nov 2022 | KMAY vs SFLR | |
| Innovator Deepwater Frontier Tech ETF | Technology Equities | 48 | 18.96% | 200.31M | Jul 2018 | KMAY vs LOUP | |
| Innovator U.S. Equity Accelerated Plus ETF | Leveraged Equities | 98 | 13.51% | 22.69M | Apr 2021 | KMAY vs XTAP | |
| Innovator U.S. Equity Power Buffer ETF - January | Defined Outcome | 84 | 7.00% | 1.44B | Jan 2019 | KMAY vs PJAN | |
| Innovator U.S. Equity Buffer ETF - April | Defined Outcome | 97 | 12.86% | 403.09M | Mar 2019 | KMAY vs BAPR | |
| Innovator U.S. Equity Power Buffer ETF October | Defined Outcome | 81 | 7.33% | 963.46M | Sep 2018 | KMAY vs POCT | |
| Innovator U.S. Equity Power Buffer ETF - July | Defined Outcome | 89 | 7.09% | 1.25B | Aug 2018 | KMAY vs PJUL | |
| Innovator Nasdaq-100 Managed Floor ETF | Nasdaq-100, Options Trading | 42 | 4.20% | 524.31M | Jan 2024 | KMAY vs QFLR |
Often Compared With KMAY
Investors most often compare KMAY with WTMU, USSH, TYLD. These 20 comparison targets span 12 categories, based on PortfoliosLab usage data.
Compare KMAY with Any Fund or Stock
Compare KMAY with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair KMAY with funds that move differently
Innovator U.S. Small Cap Power Buffer ETF - May alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to KMAY.
Explore KMAY Diversifiers