DDFY vs. XBAP

Last updated Aug 1, 2026

DDFY (Innovator Equity Dual Directional 15 Buffer ETF - May) and XBAP (Innovator U.S. Equity Accelerated 9 Buffer ETF - April) are both Defined Outcome funds from Innovator. DDFY is passively managed, while XBAP is actively managed. Their correlation of 0.81 means they have usually moved in the same direction. Both charge a 0.79% expense ratio.

Performance

DDFY vs. XBAP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Equity Dual Directional 15 Buffer ETF - May (DDFY) and Innovator U.S. Equity Accelerated 9 Buffer ETF - April (XBAP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DDFY

• 1D: 0.32%
• 1M: 0.47%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

XBAP

• 1D: 0.31%
• 1M: 0.72%
• 6M: 8.92%
• YTD: 9.28%
• 1Y: 14.34%
• 3Y*: 12.98%
• 5Y*: 9.74%
• 10Y*: —
• ALL TIME*: 9.94%

*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)
DDFY Innovator Equity Dual Directional 15 Buffer ETF - May	$205.39K	$255.98K	$1.06M
XBAP Innovator U.S. Equity Accelerated 9 Buffer ETF - April	$190.07K	$209.78K	$282.95K

DDFY vs. XBAP - Yearly Performance Comparison

	2026 (YTD)
DDFY Innovator Equity Dual Directional 15 Buffer ETF - May	0.72%
XBAP Innovator U.S. Equity Accelerated 9 Buffer ETF - April	2.71%

Correlation

The correlation between DDFY and XBAP is 0.81, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 1, 2026	0.81

Return for Risk

DDFY vs. XBAP — Risk / Return Rank

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

DDFY

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

XBAP

XBAP Risk / Return Rank: 98
XBAP Sharpe Ratio Rank: 98
XBAP Sortino Ratio Rank: 98
XBAP Omega Ratio Rank: 98
XBAP Calmar Ratio Rank: 98
XBAP Martin Ratio Rank: 98

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.

DDFY vs. XBAP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Dual Directional 15 Buffer ETF - May (DDFY) and Innovator U.S. Equity Accelerated 9 Buffer ETF - April (XBAP). 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.

	DDFY	XBAP	Difference
Sharpe ratio: Return per unit of total volatility	—	3.79	—
Sortino ratio: Return per unit of downside risk	—	6.63	—
Omega ratio: Gain probability vs. loss probability	—	1.93	—
Calmar ratio: Return relative to maximum drawdown	—	10.75	—
Martin ratio: Return relative to average drawdown	—	55.99	—

Drawdowns

DDFY vs. XBAP - Drawdown Comparison

The maximum DDFY drawdown since its inception was -1.49%, smaller than the maximum XBAP drawdown of -14.57%. Use the drawdown chart below to compare losses from any high point for DDFY and XBAP.

Drawdown Indicators

	DDFY	XBAP	Difference
Max Drawdown Largest peak-to-trough decline	-1.49%	-14.57%	+13.08%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.30%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-8.25%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-14.57%	—
Current Drawdown Current decline from peak	-0.12%	0.00%	-0.12%
Average Drawdown Average peak-to-trough decline	-0.50%	-1.70%	+1.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.25%	—

Volatility

Volatility by Period

	DDFY	XBAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.15%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.10%	—
Volatility (1Y) Calculated over the trailing 1-year period	5.43%	3.67%	+1.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.43%	9.97%	-4.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.43%	9.75%	-4.32%

DDFY vs. XBAP - Expense Ratio Comparison

Both DDFY and XBAP have an expense ratio of 0.79%.

Dividends

DDFY vs. XBAP - Dividend Comparison

Neither DDFY nor XBAP has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both DDFY and XBAP in my portfolio?

DDFY and XBAP have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DDFY or XBAP?

Both ETFs have the same 0.79% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DDFY or XBAP?

DDFY and XBAP have the same expense ratio: 0.79% per year.

Which ETF pays a higher dividend yield, DDFY or XBAP?

DDFY and XBAP have nearly identical dividend yields, around 0.00%.