BPH vs. AAPR

Last updated Jun 4, 2026

BPH (BP p.l.c. ADRhedged ETF) and AAPR (Innovator Equity Defined Protection ETF - 2 Yr To April 2026) are both exchange-traded funds - BPH is a Oil & Gas fund actively managed by Precidian, while AAPR is a Options Trading fund actively managed by Innovator. Both are actively managed. At a correlation of -0.77, they often move in opposite directions. BPH charges 0.19%/yr vs 0.79%/yr for AAPR.

Performance

BPH vs. AAPR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BP p.l.c. ADRhedged ETF (BPH) and Innovator Equity Defined Protection ETF - 2 Yr To April 2026 (AAPR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BPH

• 1D: 1.20%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AAPR

• 1D: -0.14%
• 1M: 0.68%
• YTD: 3.82%
• 6M: 4.48%
• 1Y: 9.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BPH vs. AAPR - Yearly Performance Comparison

	2026 (YTD)
BPH BP p.l.c. ADRhedged ETF	2.83%
AAPR Innovator Equity Defined Protection ETF - 2 Yr To April 2026	0.10%

Correlation

The correlation between BPH and AAPR is -0.77, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 27, 2026	-0.77

Return for Risk

BPH vs. AAPR — Risk / Return Rank

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

AAPR

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

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.

BPH vs. AAPR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BP p.l.c. ADRhedged ETF (BPH) and Innovator Equity Defined Protection ETF - 2 Yr To April 2026 (AAPR). 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.

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

Sharpe Ratios by Period

	BPH	AAPR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	4.18	—
Sharpe Ratio (All Time) Calculated using the full available price history	9.48	1.73	+7.74

Drawdowns

BPH vs. AAPR - Drawdown Comparison

The maximum BPH drawdown since its inception was -2.35%, smaller than the maximum AAPR drawdown of -5.99%. Use the drawdown chart below to compare losses from any high point for BPH and AAPR.

Drawdown Indicators

	BPH	AAPR	Difference
Max Drawdown Largest peak-to-trough decline	-2.35%	-5.99%	+3.64%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.81%	—
Current Drawdown Current decline from peak	0.00%	-0.15%	+0.15%
Average Drawdown Average peak-to-trough decline	-1.08%	-0.45%	-0.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.16%	—

Volatility

Volatility by Period

	BPH	AAPR	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.68%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.57%	—
Volatility (1Y) Calculated over the trailing 1-year period	25.75%	2.36%	+23.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.75%	4.81%	+20.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.75%	4.81%	+20.94%

BPH vs. AAPR - Expense Ratio Comparison

BPH has a 0.19% expense ratio, which is lower than AAPR's 0.79% expense ratio.

Dividends

BPH vs. AAPR - Dividend Comparison

Neither BPH nor AAPR has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BPH and AAPR in my portfolio?

BPH and AAPR have a correlation of -0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BPH or AAPR?

On fees, BPH is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BPH or AAPR?

BPH is cheaper with a 0.19% expense ratio, compared with 0.79% for AAPR.

Which ETF pays a higher dividend yield, BPH or AAPR?

BPH and AAPR have nearly identical dividend yields, around 0.00%.

What is the main difference between BPH and AAPR?

BPH is categorized as Oil & Gas, while AAPR is Options Trading. They also come from different issuers: Precidian and Innovator. Their fees differ too: 0.19% for BPH and 0.79% for AAPR.