DLAG vs. KAPR

Last updated Jun 6, 2026

DLAG (FT Vest U.S. Equity Dual Directional Buffer ETF - August) and KAPR (Innovator Russell 2000 Power Buffer ETF - April) are both Defined Outcome funds. DLAG is actively managed, while KAPR is passively managed. A 0.78 correlation means they provide meaningful diversification when combined. DLAG charges 0.85%/yr vs 0.79%/yr for KAPR.

Performance

DLAG vs. KAPR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Equity Dual Directional Buffer ETF - August (DLAG) and Innovator Russell 2000 Power Buffer ETF - April (KAPR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DLAG achieves a 4.75% return, which is significantly lower than KAPR's 10.16% return.

DLAG

• 1D: -0.63%
• 1M: 0.63%
• YTD: 4.75%
• 6M: 5.35%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

KAPR

• 1D: -1.37%
• 1M: -0.36%
• YTD: 10.16%
• 6M: 10.66%
• 1Y: 22.23%
• 3Y*: 12.50%
• 5Y*: 7.02%
• 10Y*: —

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

DLAG vs. KAPR - Yearly Performance Comparison

	2026 (YTD)	2025
DLAG FT Vest U.S. Equity Dual Directional Buffer ETF - August	4.75%	2.18%
KAPR Innovator Russell 2000 Power Buffer ETF - April	10.16%	2.50%

Correlation

The correlation between DLAG and KAPR is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 23, 2025	0.78

Return for Risk

DLAG vs. KAPR — Risk / Return Rank

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

KAPR

KAPR Risk / Return Rank: 95
KAPR Sharpe Ratio Rank: 94
KAPR Sortino Ratio Rank: 95
KAPR Omega Ratio Rank: 95
KAPR Calmar Ratio Rank: 96
KAPR Martin Ratio Rank: 97

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.

DLAG vs. KAPR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Dual Directional Buffer ETF - August (DLAG) and Innovator Russell 2000 Power Buffer ETF - April (KAPR). 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.

Sharpe Ratios by Period

	DLAG	KAPR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.35	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.60	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.56	0.81	+0.74

Drawdowns

DLAG vs. KAPR - Drawdown Comparison

The maximum DLAG drawdown since its inception was -4.23%, smaller than the maximum KAPR drawdown of -16.91%. Use the drawdown chart below to compare losses from any high point for DLAG and KAPR.

Drawdown Indicators

	DLAG	KAPR	Difference
Max Drawdown Largest peak-to-trough decline	-4.23%	-16.91%	+12.68%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.52%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-16.84%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-16.91%	—
Current Drawdown Current decline from peak	-0.63%	-1.37%	+0.74%
Average Drawdown Average peak-to-trough decline	-0.56%	-3.91%	+3.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.54%	—

Volatility

Volatility by Period

	DLAG	KAPR	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.64%	—
Volatility (6M) Calculated over the trailing 6-month period	—	4.34%	—
Volatility (1Y) Calculated over the trailing 1-year period	6.54%	6.69%	-0.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.54%	11.76%	-5.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.54%	11.64%	-5.10%

DLAG vs. KAPR - Expense Ratio Comparison

DLAG has a 0.85% expense ratio, which is higher than KAPR's 0.79% expense ratio.

Dividends

DLAG vs. KAPR - Dividend Comparison

Neither DLAG nor KAPR has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both DLAG and KAPR in my portfolio?

DLAG and KAPR have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DLAG or KAPR?

On fees, KAPR 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, DLAG or KAPR?

KAPR is cheaper with a 0.79% expense ratio, compared with 0.85% for DLAG.

Which ETF pays a higher dividend yield, DLAG or KAPR?

DLAG and KAPR have nearly identical dividend yields, around 0.00%.

What is the main difference between DLAG and KAPR?

They also come from different issuers: First Trust and Innovator. Their fees differ too: 0.85% for DLAG and 0.79% for KAPR.