AIOO vs. KMAR

Last updated Jul 2, 2026

AIOO (AllianzIM U.S. Equity Buffer100 Protection ETF) and KMAR (Innovator U.S. Small Cap Power Buffer ETF - March) are both Defined Outcome funds. AIOO is actively managed, while KMAR is passively managed. Over the past year, AIOO returned 5.07% vs 23.16% for KMAR. A 0.60 correlation means they provide meaningful diversification when combined. AIOO charges 0.64%/yr vs 0.79%/yr for KMAR.

Performance

AIOO vs. KMAR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO) and Innovator U.S. Small Cap Power Buffer ETF - March (KMAR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AIOO achieves a 2.34% return, which is significantly lower than KMAR's 12.18% return.

AIOO

• 1D: -0.06%
• 1M: -0.09%
• 6M: 2.34%
• YTD: 2.34%
• 1Y: 5.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

KMAR

• 1D: 0.05%
• 1M: 2.11%
• 6M: 12.18%
• YTD: 12.18%
• 1Y: 23.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AIOO vs. KMAR - Yearly Performance Comparison

	2026 (YTD)	2025
AIOO AllianzIM U.S. Equity Buffer100 Protection ETF	2.34%	2.65%
KMAR Innovator U.S. Small Cap Power Buffer ETF - March	12.18%	10.28%

Correlation

The correlation between AIOO and KMAR is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.61
Correlation (All Time) Calculated using the full available price history since Jul 1, 2025	0.60

The correlation between AIOO and KMAR has been stable across timeframes, ranging from 0.60 to 0.61 - a consistent structural relationship.

Return for Risk

AIOO vs. KMAR — Risk / Return Rank

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

AIOO

AIOO Risk / Return Rank: 92
AIOO Sharpe Ratio Rank: 88
AIOO Sortino Ratio Rank: 93
AIOO Omega Ratio Rank: 89
AIOO Calmar Ratio Rank: 95
AIOO Martin Ratio Rank: 93

KMAR

KMAR Risk / Return Rank: 90
KMAR Sharpe Ratio Rank: 89
KMAR Sortino Ratio Rank: 91
KMAR Omega Ratio Rank: 89
KMAR Calmar Ratio Rank: 90
KMAR Martin Ratio Rank: 92

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.

AIOO vs. KMAR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO) and Innovator U.S. Small Cap Power Buffer ETF - March (KMAR). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AIOO	KMAR	Difference
Sharpe ratio: Return per unit of total volatility	2.47	2.49	-0.02
Sortino ratio: Return per unit of downside risk	3.83	3.61	+0.21
Omega ratio: Gain probability vs. loss probability	1.48	1.47	+0.01
Calmar ratio: Return relative to maximum drawdown	6.88	4.75	+2.12
Martin ratio: Return relative to average drawdown	19.90	19.46	+0.44

AIOO vs. KMAR - Sharpe Ratio Comparison

The current AIOO Sharpe Ratio is 2.47, which is comparable to the KMAR Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of AIOO and KMAR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AIOO vs. KMAR - Drawdown Comparison

The maximum AIOO drawdown since its inception was -0.74%, smaller than the maximum KMAR drawdown of -11.32%. Use the drawdown chart below to compare losses from any high point for AIOO and KMAR.

Drawdown Indicators

	AIOO	KMAR	Difference
Max Drawdown Largest peak-to-trough decline	-0.74%	-11.32%	+10.58%
Max Drawdown (1Y) Largest decline over 1 year	-0.74%	-4.89%	+4.15%
Current Drawdown Current decline from peak	-0.13%	0.00%	-0.13%
Average Drawdown Average peak-to-trough decline	-0.18%	-1.32%	+1.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.26%	1.19%	-0.93%

Volatility

AIOO vs. KMAR - Volatility Comparison

The current volatility for AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO) is 0.81%, while Innovator U.S. Small Cap Power Buffer ETF - March (KMAR) has a volatility of 2.87%. This indicates that AIOO experiences smaller price fluctuations and is considered to be less risky than KMAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AIOO	KMAR	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.81%	2.87%	-2.06%
Volatility (6M) Calculated over the trailing 6-month period	1.42%	6.70%	-5.28%
Volatility (1Y) Calculated over the trailing 1-year period	2.06%	9.36%	-7.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.06%	12.06%	-10.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.06%	12.06%	-10.00%

AIOO vs. KMAR - Expense Ratio Comparison

AIOO has a 0.64% expense ratio, which is lower than KMAR's 0.79% expense ratio.

Dividends

AIOO vs. KMAR - Dividend Comparison

Neither AIOO nor KMAR has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both AIOO and KMAR in my portfolio?

AIOO and KMAR have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AIOO or KMAR?

KMAR has higher volatility (2.87%) compared to AIOO (0.81%). In terms of maximum drawdown, AIOO dropped -0.74% vs KMAR's -11.32%.

Which ETF is better, AIOO or KMAR?

On 1-year performance, KMAR leads with 23.16% vs 5.07% for AIOO. On fees, AIOO is cheaper at 0.64% per year. On volatility, AIOO has been the lower-risk option at 0.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AIOO or KMAR?

Over the 1-year period, KMAR has performed better with a 23.16% return vs 5.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AIOO or KMAR?

AIOO is cheaper with a 0.64% expense ratio, compared with 0.79% for KMAR.

Which ETF pays a higher dividend yield, AIOO or KMAR?

AIOO and KMAR have nearly identical dividend yields, around 0.00%.

What is the main difference between AIOO and KMAR?

They also come from different issuers: Allianz and Innovator. Their fees differ too: 0.64% for AIOO and 0.79% for KMAR.

Which has better risk-adjusted returns?

KMAR currently has the higher Sharpe Ratio (2.49 vs 2.47), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.