BFRZ vs. OCTB

Last updated Jun 4, 2026

BFRZ (Innovator Equity Managed 100 Buffer ETF) and OCTB (Aptus October Buffer ETF) are both Defined Outcome funds. Both are actively managed. A 0.74 correlation means they provide meaningful diversification when combined. BFRZ charges 0.89%/yr vs 0.25%/yr for OCTB.

Performance

BFRZ vs. OCTB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Equity Managed 100 Buffer ETF (BFRZ) and Aptus October Buffer ETF (OCTB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BFRZ achieves a 1.49% return, which is significantly lower than OCTB's 6.18% return.

BFRZ

• 1D: -0.42%
• 1M: 2.76%
• YTD: 1.49%
• 6M: 1.75%
• 1Y: 8.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

OCTB

• 1D: -0.17%
• 1M: 2.41%
• YTD: 6.18%
• 6M: 6.75%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BFRZ vs. OCTB - Yearly Performance Comparison

	2026 (YTD)	2025
BFRZ Innovator Equity Managed 100 Buffer ETF	1.49%	1.24%
OCTB Aptus October Buffer ETF	6.18%	2.37%

Correlation

The correlation between BFRZ and OCTB is 0.74, 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 Oct 15, 2025	0.74

Return for Risk

BFRZ vs. OCTB — Risk / Return Rank

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

BFRZ

BFRZ Risk / Return Rank: 48
BFRZ Sharpe Ratio Rank: 47
BFRZ Sortino Ratio Rank: 45
BFRZ Omega Ratio Rank: 51
BFRZ Calmar Ratio Rank: 53
BFRZ Martin Ratio Rank: 45

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.

BFRZ vs. OCTB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Managed 100 Buffer ETF (BFRZ) and Aptus October Buffer ETF (OCTB). 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.

	BFRZ	OCTB	Difference
Sharpe ratio: Return per unit of total volatility	1.62	—	—
Sortino ratio: Return per unit of downside risk	2.21	—	—
Omega ratio: Gain probability vs. loss probability	1.31	—	—
Calmar ratio: Return relative to maximum drawdown	2.59	—	—
Martin ratio: Return relative to average drawdown	7.31	—	—
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

	BFRZ	OCTB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.62	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.75	1.97	-0.22

Drawdowns

BFRZ vs. OCTB - Drawdown Comparison

The maximum BFRZ drawdown since its inception was -3.12%, smaller than the maximum OCTB drawdown of -4.79%. Use the drawdown chart below to compare losses from any high point for BFRZ and OCTB.

Drawdown Indicators

	BFRZ	OCTB	Difference
Max Drawdown Largest peak-to-trough decline	-3.12%	-4.79%	+1.67%
Max Drawdown (1Y) Largest decline over 1 year	-3.12%	—	—
Current Drawdown Current decline from peak	-0.42%	-0.17%	-0.25%
Average Drawdown Average peak-to-trough decline	-0.66%	-0.70%	+0.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.10%	—	—

Volatility

Volatility by Period

	BFRZ	OCTB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.16%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.72%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.99%	7.20%	-2.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.88%	7.20%	-2.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.88%	7.20%	-2.32%

BFRZ vs. OCTB - Expense Ratio Comparison

BFRZ has a 0.89% expense ratio, which is higher than OCTB's 0.25% expense ratio.

Dividends

BFRZ vs. OCTB - Dividend Comparison

BFRZ's dividend yield for the trailing twelve months is around 0.26%, while OCTB has not paid dividends to shareholders.

Position	TTM	2025
BFRZ Innovator Equity Managed 100 Buffer ETF	0.26%	0.20%
OCTB Aptus October Buffer ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both BFRZ and OCTB in my portfolio?

BFRZ and OCTB have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BFRZ or OCTB?

On fees, OCTB is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BFRZ or OCTB?

OCTB is cheaper with a 0.25% expense ratio, compared with 0.89% for BFRZ.

Which ETF pays a higher dividend yield, BFRZ or OCTB?

BFRZ has the higher dividend yield at 0.26%, compared with 0.00% for OCTB.

What is the main difference between BFRZ and OCTB?

They also come from different issuers: Innovator and Aptus Capital Advisors. Their fees differ too: 0.89% for BFRZ and 0.25% for OCTB.