BSEP vs. ZDEK
Compare and contrast key facts about Innovator U.S. Equity Buffer ETF - September (BSEP) and Innovator Equity Defined Protection ETF - 1 Yr December (ZDEK).
BSEP and ZDEK are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BSEP is a passively managed fund by Innovator that tracks the performance of the S&P 500 Index. It was launched on Aug 30, 2019. ZDEK is an actively managed fund by Innovator. It was launched on Dec 1, 2024.
Performance
BSEP vs. ZDEK - Performance Comparison
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BSEP vs. ZDEK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BSEP Innovator U.S. Equity Buffer ETF - September | -1.80% | 14.80% | -1.33% |
ZDEK Innovator Equity Defined Protection ETF - 1 Yr December | -0.30% | 7.78% | -0.38% |
Returns By Period
In the year-to-date period, BSEP achieves a -1.80% return, which is significantly lower than ZDEK's -0.30% return.
BSEP
- 1D
- 0.59%
- 1M
- -2.57%
- YTD
- -1.80%
- 6M
- -0.09%
- 1Y
- 15.53%
- 3Y*
- 14.62%
- 5Y*
- 9.59%
- 10Y*
- —
ZDEK
- 1D
- 0.14%
- 1M
- -0.70%
- YTD
- -0.30%
- 6M
- 1.51%
- 1Y
- 8.00%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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BSEP vs. ZDEK - Expense Ratio Comparison
Both BSEP and ZDEK have an expense ratio of 0.79%.
Return for Risk
BSEP vs. ZDEK — Risk / Return Rank
BSEP
ZDEK
BSEP vs. ZDEK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Buffer ETF - September (BSEP) and Innovator Equity Defined Protection ETF - 1 Yr December (ZDEK). 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.
| BSEP | ZDEK | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.21 | 2.43 | -1.21 |
Sortino ratioReturn per unit of downside risk | 1.82 | 3.69 | -1.87 |
Omega ratioGain probability vs. loss probability | 1.29 | 1.50 | -0.22 |
Calmar ratioReturn relative to maximum drawdown | 1.76 | 5.32 | -3.57 |
Martin ratioReturn relative to average drawdown | 9.20 | 21.69 | -12.49 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BSEP | ZDEK | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.21 | 2.43 | -1.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.83 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.80 | 1.54 | -0.74 |
Correlation
The correlation between BSEP and ZDEK is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
BSEP vs. ZDEK - Dividend Comparison
Neither BSEP nor ZDEK has paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BSEP Innovator U.S. Equity Buffer ETF - September | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.39% |
ZDEK Innovator Equity Defined Protection ETF - 1 Yr December | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
BSEP vs. ZDEK - Drawdown Comparison
The maximum BSEP drawdown since its inception was -23.98%, which is greater than ZDEK's maximum drawdown of -3.40%. Use the drawdown chart below to compare losses from any high point for BSEP and ZDEK.
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Drawdown Indicators
| BSEP | ZDEK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.98% | -3.40% | -20.58% |
Max Drawdown (1Y)Largest decline over 1 year | -8.99% | -1.57% | -7.42% |
Max Drawdown (5Y)Largest decline over 5 years | -15.02% | — | — |
Current DrawdownCurrent decline from peak | -3.23% | -0.87% | -2.36% |
Average DrawdownAverage peak-to-trough decline | -2.81% | -0.50% | -2.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.71% | 0.39% | +1.32% |
Volatility
BSEP vs. ZDEK - Volatility Comparison
Innovator U.S. Equity Buffer ETF - September (BSEP) has a higher volatility of 3.87% compared to Innovator Equity Defined Protection ETF - 1 Yr December (ZDEK) at 0.97%. This indicates that BSEP's price experiences larger fluctuations and is considered to be riskier than ZDEK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSEP | ZDEK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.87% | 0.97% | +2.90% |
Volatility (6M)Calculated over the trailing 6-month period | 6.20% | 2.01% | +4.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.85% | 3.33% | +9.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.60% | 3.45% | +8.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.90% | 3.45% | +10.45% |