BGLD vs. KMAR

Last updated Aug 4, 2026

BGLD (FT Vest Gold Strategy Quarterly Buffer ETF) and KMAR (Innovator U.S. Small Cap Power Buffer ETF - March) are both Defined Outcome funds. BGLD is actively managed, while KMAR is passively managed. Over the past year, BGLD returned 7.94% vs 24.41% for KMAR. Their 0.17 correlation means their historical movements had little consistent relationship. BGLD charges 0.91%/yr vs 0.79%/yr for KMAR.

Performance

BGLD vs. KMAR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest Gold Strategy Quarterly Buffer ETF (BGLD) 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, BGLD achieves a -3.76% return, which is significantly lower than KMAR's 12.74% return.

BGLD

• 1D: 0.25%
• 1M: -0.33%
• 6M: -7.23%
• YTD: -3.76%
• 1Y: 7.94%
• 3Y*: 18.04%
• 5Y*: 10.92%
• 10Y*: —
• ALL TIME*: 9.21%

KMAR

• 1D: 0.84%
• 1M: 0.78%
• 6M: 9.45%
• YTD: 12.74%
• 1Y: 24.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 17.47%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BGLD FT Vest Gold Strategy Quarterly Buffer ETF	$338.48K	$257.19K	$327.45K
KMAR Innovator U.S. Small Cap Power Buffer ETF - March	$120.12K	$77.14K	$163.43K

BGLD vs. KMAR - Yearly Performance Comparison

	2026 (YTD)	2025
BGLD FT Vest Gold Strategy Quarterly Buffer ETF	-3.76%	22.21%
KMAR Innovator U.S. Small Cap Power Buffer ETF - March	12.74%	11.45%

Correlation

The correlation between BGLD and KMAR is 0.29, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.29
Correlation (All Time) Calculated using the full available price history since Mar 3, 2025	0.17

The correlation between BGLD and KMAR shifts across timeframes, from 0.17 (all time) to 0.29 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

BGLD vs. KMAR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BGLD

BGLD Risk / Return Rank: 25
BGLD Sharpe Ratio Rank: 27
BGLD Sortino Ratio Rank: 25
BGLD Omega Ratio Rank: 27
BGLD Calmar Ratio Rank: 22
BGLD Martin Ratio Rank: 21

KMAR

KMAR Risk / Return Rank: 94
KMAR Sharpe Ratio Rank: 93
KMAR Sortino Ratio Rank: 94
KMAR Omega Ratio Rank: 93
KMAR Calmar Ratio Rank: 94
KMAR Martin Ratio Rank: 95

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BGLD vs. KMAR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest Gold Strategy Quarterly Buffer ETF (BGLD) 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.

	BGLD	KMAR	Difference
Sharpe ratio: Return per unit of total volatility	0.64	2.68	-2.04
Sortino ratio: Return per unit of downside risk	0.93	3.94	-3.02
Omega ratio: Gain probability vs. loss probability	1.13	1.52	-0.39
Calmar ratio: Return relative to maximum drawdown	0.64	5.01	-4.37
Martin ratio: Return relative to average drawdown	1.44	21.18	-19.74

BGLD vs. KMAR - Sharpe Ratio Comparison

The current BGLD Sharpe Ratio is 0.64, which is lower than the KMAR Sharpe Ratio of 2.68. The chart below compares the historical Sharpe Ratios of BGLD 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

BGLD vs. KMAR - Drawdown Comparison

The maximum BGLD drawdown since its inception was -16.19%, which is greater than KMAR's maximum drawdown of -11.32%. Use the drawdown chart below to compare losses from any high point for BGLD and KMAR.

Drawdown Indicators

	BGLD	KMAR	Difference
Max Drawdown Largest peak-to-trough decline	-16.19%	-11.32%	-4.87%
Max Drawdown (1Y) Largest decline over 1 year	-12.43%	-4.89%	-7.54%
Max Drawdown (3Y) Largest decline over 3 years	-12.43%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.42%	—	—
Current Drawdown Current decline from peak	-11.00%	0.00%	-11.00%
Average Drawdown Average peak-to-trough decline	-3.85%	-1.26%	-2.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.53%	1.16%	+4.37%

Volatility

BGLD vs. KMAR - Volatility Comparison

FT Vest Gold Strategy Quarterly Buffer ETF (BGLD) has a higher volatility of 2.65% compared to Innovator U.S. Small Cap Power Buffer ETF - March (KMAR) at 1.82%. This indicates that BGLD's price experiences larger fluctuations and is considered to be riskier than KMAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BGLD	KMAR	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.65%	1.82%	+0.83%
Volatility (6M) Calculated over the trailing 6-month period	10.19%	6.80%	+3.39%
Volatility (1Y) Calculated over the trailing 1-year period	12.42%	9.17%	+3.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.23%	11.78%	-1.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.03%	11.78%	-1.75%

BGLD vs. KMAR - Expense Ratio Comparison

BGLD has a 0.91% expense ratio, which is higher than KMAR's 0.79% expense ratio.

Dividends

BGLD vs. KMAR - Dividend Comparison

BGLD's dividend yield for the trailing twelve months is around 46.06%, while KMAR has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
BGLD FT Vest Gold Strategy Quarterly Buffer ETF	46.06%	44.32%	25.04%	10.49%	0.40%
KMAR Innovator U.S. Small Cap Power Buffer ETF - March	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BGLD and KMAR in my portfolio?

BGLD and KMAR have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BGLD or KMAR?

BGLD has higher volatility (2.65%) compared to KMAR (1.82%). In terms of maximum drawdown, BGLD dropped -16.19% vs KMAR's -11.32%.

Which ETF is better, BGLD or KMAR?

On 1-year performance, KMAR leads with 24.41% vs 7.94% for BGLD. On fees, KMAR is cheaper at 0.79% per year. On volatility, KMAR has been the lower-risk option at 1.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BGLD or KMAR?

Over the 1-year period, KMAR has performed better with a 24.41% return vs 7.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BGLD or KMAR?

KMAR is cheaper with a 0.79% expense ratio, compared with 0.91% for BGLD.

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

BGLD has the higher dividend yield at 46.06%, compared with 0.00% for KMAR.

What is the main difference between BGLD and KMAR?

They also come from different issuers: FT Vest and Innovator. Their fees differ too: 0.91% for BGLD and 0.79% for KMAR.

Which has better risk-adjusted returns?

KMAR currently has the higher Sharpe Ratio (2.68 vs 0.64), 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.