APRW vs. HOCT

Last updated Jun 3, 2026

APRW (AllianzIM U.S. Large Cap Buffer20 Apr ETF) and HOCT (Innovator Premium Income 9 Buffer ETF - October) are both Options Trading funds. Both are actively managed. APRW charges 0.74%/yr vs 0.79%/yr for HOCT.

Performance

APRW vs. HOCT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Large Cap Buffer20 Apr ETF (APRW) and Innovator Premium Income 9 Buffer ETF - October (HOCT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

APRW

• 1D: 0.05%
• 1M: 1.20%
• YTD: 6.37%
• 6M: 7.18%
• 1Y: 12.77%
• 3Y*: 10.34%
• 5Y*: 7.20%
• 10Y*: —

HOCT

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

APRW vs. HOCT - Yearly Performance Comparison

	2026 (YTD)
APRW AllianzIM U.S. Large Cap Buffer20 Apr ETF	5.67%
HOCT Innovator Premium Income 9 Buffer ETF - October	0.00%

Return for Risk

APRW vs. HOCT — Risk / Return Rank

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

APRW

APRW Risk / Return Rank: 98
APRW Sharpe Ratio Rank: 97
APRW Sortino Ratio Rank: 98
APRW Omega Ratio Rank: 98
APRW Calmar Ratio Rank: 98
APRW Martin Ratio Rank: 99

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.

APRW vs. HOCT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Large Cap Buffer20 Apr ETF (APRW) and Innovator Premium Income 9 Buffer ETF - October (HOCT). 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.

	APRW	HOCT	Difference
Sharpe ratio Return per unit of total volatility	4.91	—	—
Sortino ratio Return per unit of downside risk	9.02	—	—
Omega ratio Gain probability vs. loss probability	2.26	—	—
Calmar ratio Return relative to maximum drawdown	17.37	—	—
Martin ratio Return relative to average drawdown	89.07	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	APRW	HOCT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.91	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.08	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.16	—	—

Drawdowns

APRW vs. HOCT - Drawdown Comparison

The maximum APRW drawdown since its inception was -9.61%, which is greater than HOCT's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for APRW and HOCT.

Drawdown Indicators

	APRW	HOCT	Difference
Max Drawdown Largest peak-to-trough decline	-9.61%	0.00%	-9.61%
Max Drawdown (1Y) Largest decline over 1 year	-0.75%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-9.61%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-9.61%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.12%	0.00%	-1.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.15%	—	—

Volatility

Volatility by Period

	APRW	HOCT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.63%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.84%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.62%	0.00%	+2.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.72%	0.00%	+6.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.41%	0.00%	+6.41%

APRW vs. HOCT - Expense Ratio Comparison

APRW has a 0.74% expense ratio, which is lower than HOCT's 0.79% expense ratio.

Dividends

APRW vs. HOCT - Dividend Comparison

Neither APRW nor HOCT has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
APRW AllianzIM U.S. Large Cap Buffer20 Apr ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.67%
HOCT Innovator Premium Income 9 Buffer ETF - October	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, APRW or HOCT?

On fees, APRW is cheaper at 0.74% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, APRW or HOCT?

APRW is cheaper with a 0.74% expense ratio, compared with 0.79% for HOCT.

Which ETF pays a higher dividend yield, APRW or HOCT?

APRW and HOCT have nearly identical dividend yields, around 0.00%.

What is the main difference between APRW and HOCT?

They also come from different issuers: Allianz and Innovator. Their fees differ too: 0.74% for APRW and 0.79% for HOCT.