DDFM vs. BAPR
DDFM (Innovator Equity Dual Directional 15 Buffer ETF - March) and BAPR (Innovator U.S. Equity Buffer ETF - April) are both Defined Outcome funds from Innovator - DDFM tracks the SPDR S&P 500 ETF Trust (SPY) while BAPR tracks the Cboe S&P 500 Buffer Protect Index April. Both are passively managed. Their correlation of 0.88 suggests significant overlap in exposure. Both charge a 0.79% expense ratio.
Performance
DDFM vs. BAPR - Performance Comparison
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Returns By Period
DDFM
- 1D
- 0.10%
- 1M
- 1.05%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BAPR
- 1D
- 0.16%
- 1M
- 2.02%
- YTD
- 10.98%
- 6M
- 11.84%
- 1Y
- 20.29%
- 3Y*
- 15.39%
- 5Y*
- 11.21%
- 10Y*
- —
DDFM vs. BAPR - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
DDFM Innovator Equity Dual Directional 15 Buffer ETF - March | 3.27% |
BAPR Innovator U.S. Equity Buffer ETF - April | 9.73% |
Correlation
The correlation between DDFM and BAPR is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Mar 3, 2026 | 0.88 |
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Return for Risk
DDFM vs. BAPR — Risk / Return Rank
DDFM
BAPR
DDFM vs. BAPR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Dual Directional 15 Buffer ETF - March (DDFM) and Innovator U.S. Equity Buffer ETF - April (BAPR). 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.
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Sharpe Ratios by Period
| DDFM | BAPR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 3.62 | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.98 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.24 | 0.84 | +1.40 |
Drawdowns
DDFM vs. BAPR - Drawdown Comparison
The maximum DDFM drawdown since its inception was -3.09%, smaller than the maximum BAPR drawdown of -23.91%. Use the drawdown chart below to compare losses from any high point for DDFM and BAPR.
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Drawdown Indicators
| DDFM | BAPR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.09% | -23.91% | +20.82% |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.93% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -15.58% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.58% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.07% | +0.07% |
Average DrawdownAverage peak-to-trough decline | -0.52% | -2.59% | +2.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.35% | — |
Volatility
DDFM vs. BAPR - Volatility Comparison
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Volatility by Period
| DDFM | BAPR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.03% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 4.53% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 5.89% | 5.63% | +0.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.89% | 11.49% | -5.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.89% | 13.12% | -7.23% |
DDFM vs. BAPR - Expense Ratio Comparison
Both DDFM and BAPR have an expense ratio of 0.79%.
Dividends
DDFM vs. BAPR - Dividend Comparison
Neither DDFM nor BAPR has paid dividends to shareholders.
Frequently Asked Questions
DDFM and BAPR have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.79% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
DDFM and BAPR have the same expense ratio: 0.79% per year.
DDFM and BAPR have nearly identical dividend yields, around 0.00%.
DDFM tracks SPDR S&P 500 ETF Trust (SPY), while BAPR tracks Cboe S&P 500 Buffer Protect Index April.
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