APXM vs. DDTL

Last updated Jun 24, 2026

APXM (FT Vest U.S. Equity Max Buffer ETF - April) and DDTL (Innovator Equity Dual Directional 10 Buffer ETF - July) are both Defined Outcome funds. A 0.60 correlation means they provide meaningful diversification when combined. APXM charges 0.85%/yr vs 0.79%/yr for DDTL.

Performance

APXM vs. DDTL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Equity Max Buffer ETF - April (APXM) and Innovator Equity Dual Directional 10 Buffer ETF - July (DDTL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APXM achieves a 1.82% return, which is significantly lower than DDTL's 4.69% return.

APXM

• 1D: -0.19%
• 1M: -0.05%
• YTD: 1.82%
• 6M: 1.92%
• 1Y: 4.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DDTL

• 1D: 0.00%
• 1M: 0.60%
• YTD: 4.69%
• 6M: 4.73%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

APXM vs. DDTL - Yearly Performance Comparison

	2026 (YTD)	2025
APXM FT Vest U.S. Equity Max Buffer ETF - April	1.82%	2.56%
DDTL Innovator Equity Dual Directional 10 Buffer ETF - July	4.69%	4.70%

Correlation

The correlation between APXM and DDTL is 0.60, 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 Jul 1, 2025	0.60

Return for Risk

APXM vs. DDTL — Risk / Return Rank

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

APXM

APXM Risk / Return Rank: 97
APXM Sharpe Ratio Rank: 97
APXM Sortino Ratio Rank: 98
APXM Omega Ratio Rank: 98
APXM Calmar Ratio Rank: 96
APXM Martin Ratio Rank: 98

DDTL

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

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.

APXM vs. DDTL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Max Buffer ETF - April (APXM) and Innovator Equity Dual Directional 10 Buffer ETF - July (DDTL). 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.

	APXM	DDTL	Difference
Sharpe ratio: Return per unit of total volatility	4.00	—	—
Sortino ratio: Return per unit of downside risk	6.46	—	—
Omega ratio: Gain probability vs. loss probability	2.10	—	—
Calmar ratio: Return relative to maximum drawdown	8.15	—	—
Martin ratio: Return relative to average drawdown	55.77	—	—

Drawdowns

APXM vs. DDTL - Drawdown Comparison

The maximum APXM drawdown since its inception was -0.60%, smaller than the maximum DDTL drawdown of -3.78%. Use the drawdown chart below to compare losses from any high point for APXM and DDTL.

Drawdown Indicators

	APXM	DDTL	Difference
Max Drawdown Largest peak-to-trough decline	-0.60%	-3.78%	+3.18%
Max Drawdown (1Y) Largest decline over 1 year	-0.60%	—	—
Current Drawdown Current decline from peak	-0.36%	-0.02%	-0.34%
Average Drawdown Average peak-to-trough decline	-0.04%	-0.45%	+0.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.09%	—	—

Volatility

Volatility by Period

	APXM	DDTL	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.76%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.06%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.22%	5.63%	-4.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.36%	5.63%	-4.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.36%	5.63%	-4.27%

APXM vs. DDTL - Expense Ratio Comparison

APXM has a 0.85% expense ratio, which is higher than DDTL's 0.79% expense ratio.

Dividends

APXM vs. DDTL - Dividend Comparison

Neither APXM nor DDTL has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both APXM and DDTL in my portfolio?

APXM and DDTL have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, APXM or DDTL?

On fees, DDTL is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, APXM or DDTL?

DDTL is cheaper with a 0.79% expense ratio, compared with 0.85% for APXM.

Which ETF pays a higher dividend yield, APXM or DDTL?

APXM and DDTL have nearly identical dividend yields, around 0.00%.

What is the main difference between APXM and DDTL?

They also come from different issuers: First Trust and Innovator. Their fees differ too: 0.85% for APXM and 0.79% for DDTL.