DDFL vs. EAPR

Last updated Aug 1, 2026

DDFL (Innovator Equity Dual Directional 15 Buffer ETF - July) and EAPR (Innovator Emerging Markets Power Buffer ETF - April) are both Defined Outcome funds from Innovator. DDFL is actively managed, while EAPR is passively managed. Over the past year, DDFL returned 8.10% vs 15.75% for EAPR. Their 0.45 correlation means their historical movements had little consistent relationship. DDFL charges 0.79%/yr vs 0.89%/yr for EAPR.

Performance

DDFL vs. EAPR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Equity Dual Directional 15 Buffer ETF - July (DDFL) and Innovator Emerging Markets Power Buffer ETF - April (EAPR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DDFL achieves a 3.63% return, which is significantly lower than EAPR's 9.17% return.

DDFL

• 1D: 0.24%
• 1M: 0.52%
• 6M: 3.32%
• YTD: 3.63%
• 1Y: 8.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.07%

EAPR

• 1D: 0.61%
• 1M: 0.32%
• 6M: 8.21%
• YTD: 9.17%
• 1Y: 15.75%
• 3Y*: 8.62%
• 5Y*: 5.46%
• 10Y*: —
• ALL TIME*: 4.84%

*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)
DDFL Innovator Equity Dual Directional 15 Buffer ETF - July	$2.70M	$3.47M	$2.07M
EAPR Innovator Emerging Markets Power Buffer ETF - April	$354.30K	$262.28K	$462.78K

DDFL vs. EAPR - Yearly Performance Comparison

	2026 (YTD)	2025
DDFL Innovator Equity Dual Directional 15 Buffer ETF - July	3.63%	2.85%
EAPR Innovator Emerging Markets Power Buffer ETF - April	9.17%	6.15%

Correlation

The correlation between DDFL and EAPR is 0.47, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.47
Correlation (All Time) Calculated using the full available price history since Jul 1, 2025	0.45

Return for Risk

DDFL vs. EAPR — Risk / Return Rank

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

DDFL

DDFL Risk / Return Rank: 93
DDFL Sharpe Ratio Rank: 91
DDFL Sortino Ratio Rank: 93
DDFL Omega Ratio Rank: 93
DDFL Calmar Ratio Rank: 94
DDFL Martin Ratio Rank: 96

EAPR

EAPR Risk / Return Rank: 79
EAPR Sharpe Ratio Rank: 70
EAPR Sortino Ratio Rank: 72
EAPR Omega Ratio Rank: 87
EAPR Calmar Ratio Rank: 80
EAPR Martin Ratio Rank: 86

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.

DDFL vs. EAPR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Dual Directional 15 Buffer ETF - July (DDFL) and Innovator Emerging Markets Power Buffer ETF - April (EAPR). 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.

	DDFL	EAPR	Difference
Sharpe ratio: Return per unit of total volatility	2.30	1.59	+0.71
Sortino ratio: Return per unit of downside risk	3.58	2.34	+1.24
Omega ratio: Gain probability vs. loss probability	1.48	1.39	+0.09
Calmar ratio: Return relative to maximum drawdown	4.71	2.90	+1.81
Martin ratio: Return relative to average drawdown	23.00	12.34	+10.66

DDFL vs. EAPR - Sharpe Ratio Comparison

The current DDFL Sharpe Ratio is 2.30, which is higher than the EAPR Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of DDFL and EAPR, 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

DDFL vs. EAPR - Drawdown Comparison

The maximum DDFL drawdown since its inception was -1.83%, smaller than the maximum EAPR drawdown of -17.65%. Use the drawdown chart below to compare losses from any high point for DDFL and EAPR.

Drawdown Indicators

	DDFL	EAPR	Difference
Max Drawdown Largest peak-to-trough decline	-1.83%	-17.65%	+15.82%
Max Drawdown (1Y) Largest decline over 1 year	-1.63%	-5.28%	+3.65%
Max Drawdown (3Y) Largest decline over 3 years	—	-10.24%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-16.34%	—
Current Drawdown Current decline from peak	-0.07%	-2.78%	+2.71%
Average Drawdown Average peak-to-trough decline	-0.30%	-4.02%	+3.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.33%	1.24%	-0.91%

Volatility

DDFL vs. EAPR - Volatility Comparison

The current volatility for Innovator Equity Dual Directional 15 Buffer ETF - July (DDFL) is 1.26%, while Innovator Emerging Markets Power Buffer ETF - April (EAPR) has a volatility of 4.40%. This indicates that DDFL experiences smaller price fluctuations and is considered to be less risky than EAPR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DDFL	EAPR	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.26%	4.40%	-3.14%
Volatility (6M) Calculated over the trailing 6-month period	2.44%	9.26%	-6.82%
Volatility (1Y) Calculated over the trailing 1-year period	3.35%	9.63%	-6.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.71%	10.41%	-6.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.71%	10.30%	-6.59%

DDFL vs. EAPR - Expense Ratio Comparison

DDFL has a 0.79% expense ratio, which is lower than EAPR's 0.89% expense ratio.

Dividends

DDFL vs. EAPR - Dividend Comparison

Neither DDFL nor EAPR has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both DDFL and EAPR in my portfolio?

DDFL and EAPR have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DDFL or EAPR?

EAPR has higher volatility (4.40%) compared to DDFL (1.26%). In terms of maximum drawdown, DDFL dropped -1.83% vs EAPR's -17.65%.

Which ETF is better, DDFL or EAPR?

On 1-year performance, EAPR leads with 15.75% vs 8.10% for DDFL. On fees, DDFL is cheaper at 0.79% per year. On volatility, DDFL has been the lower-risk option at 1.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DDFL or EAPR?

Over the 1-year period, EAPR has performed better with a 15.75% return vs 8.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DDFL or EAPR?

DDFL is cheaper with a 0.79% expense ratio, compared with 0.89% for EAPR.

Which ETF pays a higher dividend yield, DDFL or EAPR?

DDFL and EAPR have nearly identical dividend yields, around 0.00%.

What is the main difference between DDFL and EAPR?

Their fees differ too: 0.79% for DDFL and 0.89% for EAPR.

Which has better risk-adjusted returns?

DDFL currently has the higher Sharpe Ratio (2.30 vs 1.59), 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.