ACII vs. BAPR

Last updated Jun 3, 2026

ACII (Innovator Index Autocallable Income Strategy ETF) and BAPR (Innovator U.S. Equity Buffer ETF - April) are both exchange-traded funds - ACII is a Derivative Income fund actively managed by Innovator, while BAPR is a Defined Outcome fund tracking the Cboe S&P 500 Buffer Protect Index April. ACII is actively managed, while BAPR is passively managed. A 0.50 correlation means they provide meaningful diversification when combined. Both charge a 0.79% expense ratio.

Performance

ACII vs. BAPR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Index Autocallable Income Strategy ETF (ACII) and Innovator U.S. Equity Buffer ETF - April (BAPR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ACII

• 1D: -0.21%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BAPR

• 1D: 0.05%
• 1M: 2.18%
• YTD: 11.07%
• 6M: 12.12%
• 1Y: 20.78%
• 3Y*: 15.40%
• 5Y*: 11.35%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ACII vs. BAPR - Yearly Performance Comparison

	2026 (YTD)
ACII Innovator Index Autocallable Income Strategy ETF	-0.14%
BAPR Innovator U.S. Equity Buffer ETF - April	0.26%

Correlation

The correlation between ACII and BAPR is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 29, 2026	0.50

Return for Risk

ACII vs. BAPR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BAPR

BAPR Risk / Return Rank: 97
BAPR Sharpe Ratio Rank: 94
BAPR Sortino Ratio Rank: 97
BAPR Omega Ratio Rank: 97
BAPR Calmar Ratio Rank: 97
BAPR Martin Ratio Rank: 98

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ACII vs. BAPR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Index Autocallable Income Strategy ETF (ACII) and Innovator U.S. Equity Buffer ETF - April (BAPR). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	ACII	BAPR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.71	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.99	—
Sharpe Ratio (All Time) Calculated using the full available price history	-4.37	0.84	-5.20

Drawdowns

ACII vs. BAPR - Drawdown Comparison

The maximum ACII drawdown since its inception was -0.32%, smaller than the maximum BAPR drawdown of -23.91%. Use the drawdown chart below to compare losses from any high point for ACII and BAPR.

Drawdown Indicators

	ACII	BAPR	Difference
Max Drawdown Largest peak-to-trough decline	-0.32%	-23.91%	+23.59%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.93%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-15.58%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.58%	—
Current Drawdown Current decline from peak	-0.32%	0.00%	-0.32%
Average Drawdown Average peak-to-trough decline	-0.14%	-2.60%	+2.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.35%	—

Volatility

Volatility by Period

	ACII	BAPR	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.07%	—
Volatility (6M) Calculated over the trailing 6-month period	—	4.52%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.15%	5.63%	-2.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.15%	11.49%	-8.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.15%	13.12%	-9.97%

ACII vs. BAPR - Expense Ratio Comparison

Both ACII and BAPR have an expense ratio of 0.79%.

Dividends

ACII vs. BAPR - Dividend Comparison

ACII's dividend yield for the trailing twelve months is around 0.73%, while BAPR has not paid dividends to shareholders.

Position	TTM
ACII Innovator Index Autocallable Income Strategy ETF	0.73%
BAPR Innovator U.S. Equity Buffer ETF - April	0.00%

Frequently Asked Questions

Can I hold both ACII and BAPR in my portfolio?

ACII and BAPR have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ACII or BAPR?

Both ETFs have the same 0.79% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ACII or BAPR?

ACII and BAPR have the same expense ratio: 0.79% per year.

Which ETF pays a higher dividend yield, ACII or BAPR?

ACII has the higher dividend yield at 0.73%, compared with 0.00% for BAPR.

What is the main difference between ACII and BAPR?

ACII is categorized as Derivative Income, while BAPR is Defined Outcome.