KSEP Alternatives & Similar ETFs

Innovator U.S. Small Cap Power Buffer ETF - September (KSEP) 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 KSEP. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to KSEP

KSEP charges 0.79% annually. There are 89 ETFs in the Defined Outcome category with lower expense ratios, going as low as 0.25%.

Symbol	Name	Expense Ratio	AUM	Inception
JANB	Aptus January Buffer ETF	0.25%	—	Oct 2025	KSEP vs JANB
JULB	Aptus July Buffer ETF	0.25%	—	Oct 2025	KSEP vs JULB
APRB	Aptus April Buffer ETF	0.25%	—	Oct 2025	KSEP vs APRB
OCTB	Aptus October Buffer ETF	0.25%	—	Oct 2025	KSEP vs OCTB
FBUF	Fidelity Dynamic Buffered Equity ETF	0.48%	—	Apr 2024	KSEP vs FBUF

Best Risk-Adjusted Alternatives to KSEP

KSEP has a PortfoliosLab risk / return rank of 71. There are 167 ETFs in the Defined Outcome category with higher risk-adjusted ranks, going as high as 99.

Symbol	Name	Risk / Return Rank	AUM	Inception
PMAP	PGIM S&P 500 Max Buffer ETF - April	99	—	Mar 2025	KSEP vs PMAP
APXM	FT Vest U.S. Equity Max Buffer ETF - April	99	—	Apr 2025	KSEP vs APXM
MMAX	iShares Large Cap Max Buffer Mar ETF	99	—	Mar 2025	KSEP vs MMAX
PMMY	PGIM S&P 500 Max Buffer ETF - May	98	—	Apr 2025	KSEP vs PMMY
CPSP	Calamos S&P 500 Structured Alt Protection ETF - Ap...	98	18.90M	Apr 2025	KSEP vs CPSP

Top Performing KSEP Alternatives (YTD)

KSEP is at 8.77% YTD. There are 31 ETFs in the Defined Outcome category with higher YTD returns, going as high as 21.85%.

Symbol	Name	YTD Return	AUM	Inception
NVDO	Leverage Shares 2x Capped Accelerated NVDA Monthly...	21.85%	—	Aug 2025	KSEP vs NVDO
TMAR	FT Vest Emerging Markets Buffer ETF - March	14.45%	—	Mar 2025	KSEP vs TMAR
QMAR	FT Cboe Vest Nasdaq-100 Buffer ETF - March	13.06%	557.94M	Mar 2021	KSEP vs QMAR
UXJL	FT Vest U.S. Equity Uncapped Accelerator ETF - Jul...	12.64%	—	Jul 2025	KSEP vs UXJL
UXAP	FT Vest U.S. Equity Uncapped Accelerator ETF - Apr...	12.25%	—	Apr 2025	KSEP vs UXAP

Lowest Volatility Alternatives to KSEP

KSEP has 10.16% 1-year volatility. There are 255 ETFs in the Defined Outcome category with lower 1-year volatility, going as low as 1.01%.

Symbol	Name	Volatility 1Y	AUM	Inception
APXM	FT Vest U.S. Equity Max Buffer ETF - April	1.01%	—	Apr 2025	KSEP vs APXM
PMMY	PGIM S&P 500 Max Buffer ETF - May	1.12%	—	Apr 2025	KSEP vs PMMY
PMAP	PGIM S&P 500 Max Buffer ETF - April	1.15%	—	Mar 2025	KSEP vs PMAP
MMAX	iShares Large Cap Max Buffer Mar ETF	1.39%	—	Mar 2025	KSEP vs MMAX
CPSP	Calamos S&P 500 Structured Alt Protection ETF - Ap...	1.42%	18.90M	Apr 2025	KSEP vs CPSP

Lowest Drawdown Alternatives to KSEP

KSEP has a 1-year max drawdown of -4.75%. There are 138 ETFs in the Defined Outcome category with shallower 1-year drawdowns, going as shallow as -0.27%.

Symbol	Name	Max Drawdown 1Y	AUM	Inception
APXM	FT Vest U.S. Equity Max Buffer ETF - April	-0.27%	—	Apr 2025	KSEP vs APXM
PMAP	PGIM S&P 500 Max Buffer ETF - April	-0.34%	—	Mar 2025	KSEP vs PMAP
MMAX	iShares Large Cap Max Buffer Mar ETF	-0.34%	—	Mar 2025	KSEP vs MMAX
PMMY	PGIM S&P 500 Max Buffer ETF - May	-0.36%	—	Apr 2025	KSEP vs PMMY
CPSP	Calamos S&P 500 Structured Alt Protection ETF - Ap...	-0.37%	18.90M	Apr 2025	KSEP vs CPSP

Other ETFs from Innovator

The 10 most viewed Innovator ETFs shown here include BALT, FFTY, BUFF and span 5 categories. AUM among these funds goes as high as $2B.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
BALT	Innovator Defined Wealth Shield ETF	Defined Outcome	92	1.91%	2.46B	Jun 2021	KSEP vs BALT
FFTY	Innovator IBD 50 ETF	Large Cap Growth Equities	30	20.11%	89.40M	Apr 2015	KSEP vs FFTY
BUFF	Innovator Laddered Allocation Power Buffer ETF	Defined Outcome	86	5.42%	869.87M	Oct 2016	KSEP vs BUFF
SFLR	Innovator Equity Managed Floor ETF	Options Trading	64	5.55%	2.00B	Nov 2022	KSEP vs SFLR
LOUP	Innovator Deepwater Frontier Tech ETF	Technology Equities	71	28.21%	219.47M	Jul 2018	KSEP vs LOUP
PJAN	Innovator U.S. Equity Power Buffer ETF - January	Defined Outcome	79	5.13%	1.52B	Jan 2019	KSEP vs PJAN
BAPR	Innovator U.S. Equity Buffer ETF - April	Defined Outcome	96	10.81%	401.85M	Mar 2019	KSEP vs BAPR
PJUL	Innovator U.S. Equity Power Buffer ETF - July	Defined Outcome	87	4.74%	1.00B	Aug 2018	KSEP vs PJUL
QFLR	Innovator Nasdaq-100 Managed Floor ETF	Nasdaq-100, Options Trading	74	6.90%	527.81M	Jan 2024	KSEP vs QFLR
POCT	Innovator U.S. Equity Power Buffer ETF October	Defined Outcome	75	5.33%	1.02B	Sep 2018	KSEP vs POCT

Often Compared With KSEP

Investors most often compare KSEP with IWM, VBR, SMAX. These 20 comparison targets span 5 categories, based on PortfoliosLab usage data.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
IWM	iShares Russell 2000 ETF	Small Cap Blend Equities	62	17.07%	80.93B	May 2000	KSEP vs IWM
VBR	Vanguard Small-Cap Value ETF	Small Cap Value Equities	52	11.67%	64.90B	Jan 2004	KSEP vs VBR
SMAX	iShares Large Cap Max Buffer Sep ETF	Defined Outcome	93	3.09%	—	Sep 2024	KSEP vs SMAX
ZMAY	Innovator Equity Defined Protection ETF - 1 Yr May	Defined Outcome	97	2.20%	—	May 2025	KSEP vs ZMAY
DAUG	FT Vest U.S. Equity Deep Buffer ETF - August	Defined Outcome	82	5.06%	362.74M	Nov 2019	KSEP vs DAUG
KJUL	Innovator Russell 2000 Power Buffer ETF - July	Defined Outcome	81	6.53%	135.99M	Jun 2020	KSEP vs KJUL
NAPR	Innovator Nasdaq-100 Power Buffer ETF - April	Nasdaq-100, Defined Outcome	98	10.51%	224.10M	Mar 2020	KSEP vs NAPR
BUFD	FT Vest Laddered Deep Buffer ETF	Defined Outcome	87	5.08%	1.88B	Jan 2021	KSEP vs BUFD
KAPR	Innovator Russell 2000 Power Buffer ETF - April	Defined Outcome	95	10.96%	214.88M	Mar 2020	KSEP vs KAPR
UDEC	Innovator U.S. Equity Ultra Buffer ETF - December	Defined Outcome	84	5.14%	306.58M	Nov 2019	KSEP vs UDEC
KJAN	Innovator U.S. Small Cap Power Buffer ETF - Januar...	Defined Outcome	69	8.07%	331.10M	Dec 2019	KSEP vs KJAN
OCTZ	TrueShares Structured Outcome (October) ETF	Defined Outcome	65	8.27%	45.43M	Sep 2020	KSEP vs OCTZ
FAPR	FT Vest U.S. Equity Buffer ETF - April	Defined Outcome	96	5.18%	1.14B	Apr 2021	KSEP vs FAPR
APRZ	TrueShares Structured Outcome (April) ETF	Defined Outcome	57	7.43%	33.63M	Mar 2021	KSEP vs APRZ
PSFF	Pacer Swan SOS Fund of Funds ETF	Defined Outcome	82	5.72%	580.21M	Dec 2020	KSEP vs PSFF
ZFEB	Innovator Equity Defined Protection ETF - 1 Yr Feb...	Defined Outcome	94	2.36%	—	Feb 2025	KSEP vs ZFEB
ZJUN	Innovator Equity Defined Protection ETF - 1 Yr Jun...	Defined Outcome	95	2.26%	—	May 2025	KSEP vs ZJUN
PMJA	PGIM S&P 500 Max Buffer ETF - January	Defined Outcome, S&P 500	94	2.35%	4.58M	Dec 2024	KSEP vs PMJA
FOCT	FT Vest U.S. Equity Buffer ETF - October	Defined Outcome	79	6.65%	1.21B	Oct 2020	KSEP vs FOCT
ZSEP	Innovator Equity Defined Protection ETF - 1 Yr Sep...	Defined Outcome	92	2.60%	—	Sep 2024	KSEP vs ZSEP

Compare KSEP with Any Fund or Stock

Compare KSEP with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

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Diversifiers

Pair KSEP with funds that move differently

Innovator U.S. Small Cap Power Buffer ETF - September alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to KSEP.

Explore KSEP Diversifiers

Innovator U.S. Small Cap Power Buffer ETF - September (KSEP) Alternatives