BUFS vs. KAPR

Last updated Jun 4, 2026

BUFS (FT Vest Laddered Small Cap Moderate Buffer ETF) and KAPR (Innovator Russell 2000 Power Buffer ETF - April) are both Defined Outcome funds. BUFS is actively managed, while KAPR is passively managed. Over the past year, BUFS returned 18.99% vs 22.85% for KAPR. Their correlation of 0.94 suggests significant overlap in exposure. BUFS charges 1.01%/yr vs 0.79%/yr for KAPR.

Performance

BUFS vs. KAPR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest Laddered Small Cap Moderate Buffer ETF (BUFS) and Innovator Russell 2000 Power Buffer ETF - April (KAPR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BUFS achieves a 7.57% return, which is significantly lower than KAPR's 10.96% return.

BUFS

• 1D: -0.53%
• 1M: 1.49%
• YTD: 7.57%
• 6M: 7.95%
• 1Y: 18.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —

KAPR

• 1D: -0.52%
• 1M: 1.70%
• YTD: 10.96%
• 6M: 11.76%
• 1Y: 22.85%
• 3Y*: 13.04%
• 5Y*: 7.18%
• 10Y*: —

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

BUFS vs. KAPR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BUFS FT Vest Laddered Small Cap Moderate Buffer ETF	7.57%	7.08%	6.83%
KAPR Innovator Russell 2000 Power Buffer ETF - April	10.96%	7.42%	6.52%

Correlation

The correlation between BUFS and KAPR is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (All Time) Calculated using the full available price history since May 31, 2024	0.94

The correlation between BUFS and KAPR has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

Return for Risk

BUFS vs. KAPR — Risk / Return Rank

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

BUFS

BUFS Risk / Return Rank: 72
BUFS Sharpe Ratio Rank: 65
BUFS Sortino Ratio Rank: 69
BUFS Omega Ratio Rank: 65
BUFS Calmar Ratio Rank: 80
BUFS Martin Ratio Rank: 82

KAPR

KAPR Risk / Return Rank: 95
KAPR Sharpe Ratio Rank: 93
KAPR Sortino Ratio Rank: 96
KAPR Omega Ratio Rank: 95
KAPR Calmar Ratio Rank: 96
KAPR Martin Ratio Rank: 97

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.

BUFS vs. KAPR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest Laddered Small Cap Moderate Buffer ETF (BUFS) and Innovator Russell 2000 Power Buffer ETF - April (KAPR). 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.

	BUFS	KAPR	Difference
Sharpe ratio: Return per unit of total volatility	2.13	3.53	-1.40
Sortino ratio: Return per unit of downside risk	3.10	5.56	-2.46
Omega ratio: Gain probability vs. loss probability	1.39	1.74	-0.35
Calmar ratio: Return relative to maximum drawdown	4.07	9.12	-5.05
Martin ratio: Return relative to average drawdown	16.32	43.03	-26.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BUFS vs. KAPR - Sharpe Ratio Comparison

The current BUFS Sharpe Ratio is 2.13, which is lower than the KAPR Sharpe Ratio of 3.53. The chart below compares the historical Sharpe Ratios of BUFS and KAPR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BUFS	KAPR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.13	3.53	-1.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.61	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.98	0.83	+0.15

Drawdowns

BUFS vs. KAPR - Drawdown Comparison

The maximum BUFS drawdown since its inception was -15.03%, smaller than the maximum KAPR drawdown of -16.91%. Use the drawdown chart below to compare losses from any high point for BUFS and KAPR.

Drawdown Indicators

	BUFS	KAPR	Difference
Max Drawdown Largest peak-to-trough decline	-15.03%	-16.91%	+1.88%
Max Drawdown (1Y) Largest decline over 1 year	-4.68%	-2.52%	-2.16%
Max Drawdown (3Y) Largest decline over 3 years	—	-16.84%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-16.91%	—
Current Drawdown Current decline from peak	-0.61%	-0.52%	-0.09%
Average Drawdown Average peak-to-trough decline	-2.42%	-3.92%	+1.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.17%	0.53%	+0.64%

Volatility

BUFS vs. KAPR - Volatility Comparison

The current volatility for FT Vest Laddered Small Cap Moderate Buffer ETF (BUFS) is 1.83%, while Innovator Russell 2000 Power Buffer ETF - April (KAPR) has a volatility of 2.30%. This indicates that BUFS experiences smaller price fluctuations and is considered to be less risky than KAPR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BUFS	KAPR	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.83%	2.30%	-0.47%
Volatility (6M) Calculated over the trailing 6-month period	5.45%	4.06%	+1.39%
Volatility (1Y) Calculated over the trailing 1-year period	8.99%	6.54%	+2.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.21%	11.75%	-0.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.21%	11.63%	-0.42%

BUFS vs. KAPR - Expense Ratio Comparison

BUFS has a 1.01% expense ratio, which is higher than KAPR's 0.79% expense ratio.

Dividends

BUFS vs. KAPR - Dividend Comparison

Neither BUFS nor KAPR has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BUFS and KAPR in my portfolio?

With a correlation of 0.91, BUFS and KAPR move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BUFS or KAPR?

KAPR has higher volatility (2.30%) compared to BUFS (1.83%). In terms of maximum drawdown, BUFS dropped -15.03% vs KAPR's -16.91%.

Which ETF is better, BUFS or KAPR?

On 1-year performance, KAPR leads with 22.85% vs 18.99% for BUFS. On fees, KAPR is cheaper at 0.79% per year. On volatility, BUFS has been the lower-risk option at 1.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BUFS or KAPR?

Over the 1-year period, KAPR has performed better with a 22.85% return vs 18.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BUFS or KAPR?

KAPR is cheaper with a 0.79% expense ratio, compared with 1.01% for BUFS.

Which ETF pays a higher dividend yield, BUFS or KAPR?

BUFS and KAPR have nearly identical dividend yields, around 0.00%.

What is the main difference between BUFS and KAPR?

They also come from different issuers: First Trust and Innovator. Their fees differ too: 1.01% for BUFS and 0.79% for KAPR.

Which has better risk-adjusted returns?

KAPR currently has the higher Sharpe Ratio (3.53 vs 2.13), 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.