CRCD vs. KSEP

Last updated Jul 17, 2026

CRCD (T-REX 2X Inverse CRCL Daily Target ETF) and KSEP (Innovator U.S. Small Cap Power Buffer ETF - September) are both exchange-traded funds - CRCD is a Inverse Equities fund actively managed by T-Rex, while KSEP is a Defined Outcome fund actively managed by Innovator. Both are actively managed. At a correlation of -0.49, they often move in opposite directions. CRCD charges 1.50%/yr vs 0.79%/yr for KSEP.

Performance

CRCD vs. KSEP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-REX 2X Inverse CRCL Daily Target ETF (CRCD) and Innovator U.S. Small Cap Power Buffer ETF - September (KSEP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CRCD achieves a -79.80% return, which is significantly lower than KSEP's 10.95% return.

CRCD

• 1D: 14.90%
• 1M: 41.63%
• 6M: -80.01%
• YTD: -79.80%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

KSEP

• 1D: 0.08%
• 1M: 1.10%
• 6M: 7.10%
• YTD: 10.95%
• 1Y: 19.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CRCD vs. KSEP - Yearly Performance Comparison

	2026 (YTD)	2025
CRCD T-REX 2X Inverse CRCL Daily Target ETF	-79.80%	38.83%
KSEP Innovator U.S. Small Cap Power Buffer ETF - September	10.95%	2.50%

Correlation

The correlation between CRCD and KSEP is -0.49, 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 Sep 26, 2025	-0.49

Return for Risk

CRCD vs. KSEP — Risk / Return Rank

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

CRCD

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

KSEP

KSEP Risk / Return Rank: 84
KSEP Sharpe Ratio Rank: 78
KSEP Sortino Ratio Rank: 84
KSEP Omega Ratio Rank: 79
KSEP Calmar Ratio Rank: 89
KSEP Martin Ratio Rank: 89

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.

CRCD vs. KSEP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-REX 2X Inverse CRCL Daily Target ETF (CRCD) and Innovator U.S. Small Cap Power Buffer ETF - September (KSEP). 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.

	CRCD	KSEP	Difference
Sharpe ratio: Return per unit of total volatility	—	1.99	—
Sortino ratio: Return per unit of downside risk	—	3.06	—
Omega ratio: Gain probability vs. loss probability	—	1.38	—
Calmar ratio: Return relative to maximum drawdown	—	4.14	—
Martin ratio: Return relative to average drawdown	—	15.15	—

Drawdowns

CRCD vs. KSEP - Drawdown Comparison

The maximum CRCD drawdown since its inception was -96.95%, which is greater than KSEP's maximum drawdown of -14.92%. Use the drawdown chart below to compare losses from any high point for CRCD and KSEP.

Drawdown Indicators

	CRCD	KSEP	Difference
Max Drawdown Largest peak-to-trough decline	-96.95%	-14.92%	-82.03%
Max Drawdown (1Y) Largest decline over 1 year	—	-4.75%	—
Current Drawdown Current decline from peak	-90.42%	0.00%	-90.42%
Average Drawdown Average peak-to-trough decline	-60.01%	-2.33%	-57.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.30%	—

Volatility

Volatility by Period

	CRCD	KSEP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.97%	—
Volatility (6M) Calculated over the trailing 6-month period	—	6.15%	—
Volatility (1Y) Calculated over the trailing 1-year period	200.70%	9.89%	+190.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	200.70%	11.42%	+189.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	200.70%	11.42%	+189.28%

CRCD vs. KSEP - Expense Ratio Comparison

CRCD has a 1.50% expense ratio, which is higher than KSEP's 0.79% expense ratio.

Dividends

CRCD vs. KSEP - Dividend Comparison

Neither CRCD nor KSEP has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both CRCD and KSEP in my portfolio?

CRCD and KSEP have a correlation of -0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CRCD or KSEP?

On fees, KSEP is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CRCD or KSEP?

KSEP is cheaper with a 0.79% expense ratio, compared with 1.50% for CRCD.

Which ETF pays a higher dividend yield, CRCD or KSEP?

CRCD and KSEP have nearly identical dividend yields, around 0.00%.

What is the main difference between CRCD and KSEP?

CRCD is categorized as Inverse Equities, while KSEP is Defined Outcome. They also come from different issuers: T-Rex and Innovator. Their fees differ too: 1.50% for CRCD and 0.79% for KSEP.