AAPR vs. KPRO
Compare and contrast key facts about Innovator Equity Defined Protection ETF - 2 Yr To April 2026 (AAPR) and KraneShares 100% KWEB Defined Outcome January 2026 ETF (KPRO).
AAPR and KPRO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. AAPR is an actively managed fund by Innovator. It was launched on Mar 28, 2024. KPRO is an actively managed fund by KraneShares. It was launched on Feb 7, 2024.
Performance
AAPR vs. KPRO - Performance Comparison
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AAPR vs. KPRO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
AAPR Innovator Equity Defined Protection ETF - 2 Yr To April 2026 | 1.32% | 7.79% | 6.25% |
KPRO KraneShares 100% KWEB Defined Outcome January 2026 ETF | -3.52% | 7.79% | 9.95% |
Returns By Period
In the year-to-date period, AAPR achieves a 1.32% return, which is significantly higher than KPRO's -3.52% return.
AAPR
- 1D
- 0.00%
- 1M
- 0.56%
- YTD
- 1.32%
- 6M
- 3.06%
- 1Y
- 10.02%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
KPRO
- 1D
- 0.63%
- 1M
- -2.42%
- YTD
- -3.52%
- 6M
- -9.99%
- 1Y
- -0.33%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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AAPR vs. KPRO - Expense Ratio Comparison
AAPR has a 0.79% expense ratio, which is lower than KPRO's 0.95% expense ratio.
Return for Risk
AAPR vs. KPRO — Risk / Return Rank
AAPR
KPRO
AAPR vs. KPRO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Defined Protection ETF - 2 Yr To April 2026 (AAPR) and KraneShares 100% KWEB Defined Outcome January 2026 ETF (KPRO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| AAPR | KPRO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.86 | -0.04 | +1.90 |
Sortino ratioReturn per unit of downside risk | 2.79 | 0.00 | +2.78 |
Omega ratioGain probability vs. loss probability | 1.60 | 1.00 | +0.59 |
Calmar ratioReturn relative to maximum drawdown | 2.41 | -0.03 | +2.44 |
Martin ratioReturn relative to average drawdown | 16.22 | -0.09 | +16.31 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AAPR | KPRO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.86 | -0.04 | +1.90 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.58 | 0.99 | +0.59 |
Correlation
The correlation between AAPR and KPRO is 0.30, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
AAPR vs. KPRO - Dividend Comparison
AAPR has not paid dividends to shareholders, while KPRO's dividend yield for the trailing twelve months is around 2.75%.
| TTM | 2025 | 2024 | |
|---|---|---|---|
AAPR Innovator Equity Defined Protection ETF - 2 Yr To April 2026 | 0.00% | 0.00% | 0.00% |
KPRO KraneShares 100% KWEB Defined Outcome January 2026 ETF | 2.75% | 2.65% | 3.70% |
Drawdowns
AAPR vs. KPRO - Drawdown Comparison
The maximum AAPR drawdown since its inception was -5.99%, smaller than the maximum KPRO drawdown of -11.01%. Use the drawdown chart below to compare losses from any high point for AAPR and KPRO.
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Drawdown Indicators
| AAPR | KPRO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.99% | -11.01% | +5.02% |
Max Drawdown (1Y)Largest decline over 1 year | -4.22% | -11.01% | +6.79% |
Current DrawdownCurrent decline from peak | 0.00% | -10.43% | +10.43% |
Average DrawdownAverage peak-to-trough decline | -0.48% | -1.73% | +1.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.63% | 4.09% | -3.46% |
Volatility
AAPR vs. KPRO - Volatility Comparison
The current volatility for Innovator Equity Defined Protection ETF - 2 Yr To April 2026 (AAPR) is 0.62%, while KraneShares 100% KWEB Defined Outcome January 2026 ETF (KPRO) has a volatility of 2.26%. This indicates that AAPR experiences smaller price fluctuations and is considered to be less risky than KPRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AAPR | KPRO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.62% | 2.26% | -1.64% |
Volatility (6M)Calculated over the trailing 6-month period | 1.50% | 7.75% | -6.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.41% | 8.51% | -3.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.94% | 7.84% | -2.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.94% | 7.84% | -2.90% |