DDTM vs. BAPR
DDTM (Innovator Equity Dual Directional 10 Buffer ETF - March) and BAPR (Innovator U.S. Equity Buffer ETF - April) are both Defined Outcome funds from Innovator - DDTM 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 0.93 suggests significant overlap in exposure. Both charge a 0.79% expense ratio.
Performance
DDTM vs. BAPR - Performance Comparison
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Returns By Period
DDTM
- 1D
- -0.15%
- 1M
- 2.04%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BAPR
- 1D
- -0.23%
- 1M
- 2.21%
- YTD
- 10.81%
- 6M
- 11.74%
- 1Y
- 20.12%
- 3Y*
- 15.31%
- 5Y*
- 11.17%
- 10Y*
- —
DDTM vs. BAPR - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
DDTM Innovator Equity Dual Directional 10 Buffer ETF - March | 4.73% |
BAPR Innovator U.S. Equity Buffer ETF - April | 9.55% |
Correlation
The correlation between DDTM and BAPR is 0.93, 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 | 0.93 |
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Return for Risk
DDTM vs. BAPR — Risk / Return Rank
DDTM
BAPR
DDTM vs. BAPR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Dual Directional 10 Buffer ETF - March (DDTM) 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
| DDTM | BAPR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 3.59 | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.98 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.36 | 0.84 | +1.52 |
Drawdowns
DDTM vs. BAPR - Drawdown Comparison
The maximum DDTM drawdown since its inception was -4.73%, smaller than the maximum BAPR drawdown of -23.91%. Use the drawdown chart below to compare losses from any high point for DDTM and BAPR.
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Drawdown Indicators
| DDTM | BAPR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.73% | -23.91% | +19.18% |
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 | -0.15% | -0.23% | +0.08% |
Average DrawdownAverage peak-to-trough decline | -0.84% | -2.59% | +1.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.35% | — |
Volatility
DDTM vs. BAPR - Volatility Comparison
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Volatility by Period
| DDTM | BAPR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.06% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 4.53% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 8.40% | 5.64% | +2.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.40% | 11.49% | -3.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.40% | 13.12% | -4.72% |
DDTM vs. BAPR - Expense Ratio Comparison
Both DDTM and BAPR have an expense ratio of 0.79%.
Dividends
DDTM vs. BAPR - Dividend Comparison
Neither DDTM nor BAPR has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.93, DDTM and BAPR 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.
Both ETFs have the same 0.79% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
DDTM and BAPR have the same expense ratio: 0.79% per year.
DDTM and BAPR have nearly identical dividend yields, around 0.00%.
DDTM tracks SPDR S&P 500 ETF Trust (SPY), while BAPR tracks Cboe S&P 500 Buffer Protect Index April.
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