APRH vs. XISE

Last updated Jun 4, 2026

APRH (Innovator Premium Income 20 Barrier ETF - April) and XISE (FT Cboe Vest U.S. Equity Buffer & Premium Income ETF – September) are both Options Trading funds. Both are actively managed. Over the past year, APRH returned 7.82% vs 6.80% for XISE. A 0.54 correlation means they provide meaningful diversification when combined. APRH charges 0.79%/yr vs 0.85%/yr for XISE.

Performance

APRH vs. XISE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Premium Income 20 Barrier ETF - April (APRH) and FT Cboe Vest U.S. Equity Buffer & Premium Income ETF – September (XISE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APRH achieves a 4.49% return, which is significantly higher than XISE's 3.00% return.

APRH

• 1D: -0.08%
• 1M: 1.07%
• YTD: 4.49%
• 6M: 4.02%
• 1Y: 7.82%
• 3Y*: 7.42%
• 5Y*: —
• 10Y*: —

XISE

• 1D: -0.02%
• 1M: 0.75%
• YTD: 3.00%
• 6M: 3.75%
• 1Y: 6.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

APRH vs. XISE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
APRH Innovator Premium Income 20 Barrier ETF - April	4.49%	5.84%	6.91%	2.14%
XISE FT Cboe Vest U.S. Equity Buffer & Premium Income ETF – September	3.00%	6.42%	5.70%	3.09%

Correlation

The correlation between APRH and XISE is 0.56, 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	0.56
Correlation (All Time) Calculated using the full available price history since Sep 19, 2023	0.54

The correlation between APRH and XISE has been stable across timeframes, ranging from 0.54 to 0.56 - a consistent structural relationship.

APRH vs. XISE - Sectors Allocation Comparison

Sectors	APRH	XISE
Technology	33.6%	36.2%
Financial Services	12.4%	11.9%
Communication Services	10.5%	10.9%
Consumer Cyclical	10.0%	10.1%
Healthcare	9.5%	8.4%
Industrials	8.5%	8.1%
Consumer Defensive	5.3%	4.9%
Energy	4.0%	3.5%
Utilities	2.5%	2.3%
Real Estate	2.0%	1.9%
Basic Materials	1.9%	1.8%

Return for Risk

APRH vs. XISE — Risk / Return Rank

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

APRH

APRH Risk / Return Rank: 93
APRH Sharpe Ratio Rank: 91
APRH Sortino Ratio Rank: 93
APRH Omega Ratio Rank: 97
APRH Calmar Ratio Rank: 93
APRH Martin Ratio Rank: 91

XISE

XISE Risk / Return Rank: 80
XISE Sharpe Ratio Rank: 71
XISE Sortino Ratio Rank: 81
XISE Omega Ratio Rank: 87
XISE Calmar Ratio Rank: 74
XISE Martin Ratio Rank: 90

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.

APRH vs. XISE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Premium Income 20 Barrier ETF - April (APRH) and FT Cboe Vest U.S. Equity Buffer & Premium Income ETF – September (XISE). 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.

	APRH	XISE	Difference
Sharpe ratio: Return per unit of total volatility	3.18	2.31	+0.87
Sortino ratio: Return per unit of downside risk	4.75	3.59	+1.16
Omega ratio: Gain probability vs. loss probability	1.90	1.53	+0.36
Calmar ratio: Return relative to maximum drawdown	6.48	3.64	+2.84
Martin ratio: Return relative to average drawdown	22.02	20.31	+1.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

APRH vs. XISE - Sharpe Ratio Comparison

The current APRH Sharpe Ratio is 3.18, which is higher than the XISE Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of APRH and XISE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	APRH	XISE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.18	2.31	+0.87
Sharpe Ratio (All Time) Calculated using the full available price history	1.70	1.39	+0.31

Drawdowns

APRH vs. XISE - Drawdown Comparison

The maximum APRH drawdown since its inception was -5.87%, roughly equal to the maximum XISE drawdown of -6.17%. Use the drawdown chart below to compare losses from any high point for APRH and XISE.

Drawdown Indicators

	APRH	XISE	Difference
Max Drawdown Largest peak-to-trough decline	-5.87%	-6.17%	+0.30%
Max Drawdown (1Y) Largest decline over 1 year	-1.21%	-1.88%	+0.67%
Max Drawdown (3Y) Largest decline over 3 years	-5.87%	—	—
Current Drawdown Current decline from peak	-0.08%	-0.02%	-0.06%
Average Drawdown Average peak-to-trough decline	-0.21%	-0.24%	+0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.36%	0.34%	+0.02%

Volatility

APRH vs. XISE - Volatility Comparison

Innovator Premium Income 20 Barrier ETF - April (APRH) has a higher volatility of 0.55% compared to FT Cboe Vest U.S. Equity Buffer & Premium Income ETF – September (XISE) at 0.37%. This indicates that APRH's price experiences larger fluctuations and is considered to be riskier than XISE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APRH	XISE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.55%	0.37%	+0.18%
Volatility (6M) Calculated over the trailing 6-month period	1.98%	2.33%	-0.35%
Volatility (1Y) Calculated over the trailing 1-year period	2.47%	2.96%	-0.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.56%	4.92%	-0.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.56%	4.92%	-0.36%

APRH vs. XISE - Expense Ratio Comparison

APRH has a 0.79% expense ratio, which is lower than XISE's 0.85% expense ratio.

Dividends

APRH vs. XISE - Dividend Comparison

APRH's dividend yield for the trailing twelve months is around 5.35%, less than XISE's 5.92% yield.

Position	TTM	2025	2024	2023
APRH Innovator Premium Income 20 Barrier ETF - April	5.35%	5.49%	6.87%	5.90%
XISE FT Cboe Vest U.S. Equity Buffer & Premium Income ETF – September	5.92%	5.81%	7.04%	1.20%

Frequently Asked Questions

Can I hold both APRH and XISE in my portfolio?

APRH and XISE have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, APRH or XISE?

APRH has higher volatility (0.55%) compared to XISE (0.37%). In terms of maximum drawdown, APRH dropped -5.87% vs XISE's -6.17%.

Which ETF is better, APRH or XISE?

On 1-year performance, APRH leads with 7.82% vs 6.80% for XISE. On fees, APRH is cheaper at 0.79% per year. On volatility, XISE has been the lower-risk option at 0.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, APRH or XISE?

Over the 1-year period, APRH has performed better with a 7.82% return vs 6.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, APRH or XISE?

APRH is cheaper with a 0.79% expense ratio, compared with 0.85% for XISE.

Which ETF pays a higher dividend yield, APRH or XISE?

XISE has the higher dividend yield at 5.92%, compared with 5.35% for APRH.

What is the main difference between APRH and XISE?

They also come from different issuers: Innovator and FT Vest. Their fees differ too: 0.79% for APRH and 0.85% for XISE.

Which has better risk-adjusted returns?

APRH currently has the higher Sharpe Ratio (3.18 vs 2.31), 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.