DMAR vs. APRJ

Last updated Jun 24, 2026

DMAR (FT Cboe Vest U.S. Equity Deep Buffer ETF - March) and APRJ (Innovator Premium Income 30 Barrier ETF - April) are both Options Trading funds. Both are actively managed. Over the past 3 years, DMAR returned 11.70%/yr vs 6.17%/yr for APRJ. A 0.57 correlation means they provide meaningful diversification when combined. DMAR charges 0.85%/yr vs 0.79%/yr for APRJ.

Performance

DMAR vs. APRJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Cboe Vest U.S. Equity Deep Buffer ETF - March (DMAR) and Innovator Premium Income 30 Barrier ETF - April (APRJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DMAR achieves a 6.84% return, which is significantly higher than APRJ's 3.20% return.

DMAR

• 1D: -0.31%
• 1M: -0.06%
• YTD: 6.84%
• 6M: 6.93%
• 1Y: 13.82%
• 3Y*: 11.70%
• 5Y*: 7.52%
• 10Y*: —

APRJ

• 1D: -0.12%
• 1M: 0.14%
• YTD: 3.20%
• 6M: 3.43%
• 1Y: 6.61%
• 3Y*: 6.17%
• 5Y*: —
• 10Y*: —

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

DMAR vs. APRJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DMAR FT Cboe Vest U.S. Equity Deep Buffer ETF - March	6.84%	9.13%	12.74%	9.63%
APRJ Innovator Premium Income 30 Barrier ETF - April	3.20%	5.71%	6.24%	5.47%

Correlation

The correlation between DMAR and APRJ is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (All Time) Calculated using the full available price history since Apr 3, 2023	0.57

The correlation between DMAR and APRJ has been stable across timeframes, ranging from 0.50 to 0.57 - a consistent structural relationship.

Return for Risk

DMAR vs. APRJ — Risk / Return Rank

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

DMAR

DMAR Risk / Return Rank: 97
DMAR Sharpe Ratio Rank: 96
DMAR Sortino Ratio Rank: 97
DMAR Omega Ratio Rank: 97
DMAR Calmar Ratio Rank: 97
DMAR Martin Ratio Rank: 98

APRJ

APRJ Risk / Return Rank: 98
APRJ Sharpe Ratio Rank: 97
APRJ Sortino Ratio Rank: 98
APRJ Omega Ratio Rank: 98
APRJ Calmar Ratio Rank: 99
APRJ Martin Ratio Rank: 99

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.

DMAR vs. APRJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Deep Buffer ETF - March (DMAR) and Innovator Premium Income 30 Barrier ETF - April (APRJ). 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.

	DMAR	APRJ	Difference
Sharpe ratio: Return per unit of total volatility	3.71	4.29	-0.58
Sortino ratio: Return per unit of downside risk	6.08	8.04	-1.96
Omega ratio: Gain probability vs. loss probability	1.92	2.10	-0.18
Calmar ratio: Return relative to maximum drawdown	9.06	16.68	-7.62
Martin ratio: Return relative to average drawdown	53.38	83.93	-30.55

DMAR vs. APRJ - Sharpe Ratio Comparison

The current DMAR Sharpe Ratio is 3.71, which is comparable to the APRJ Sharpe Ratio of 4.29. The chart below compares the historical Sharpe Ratios of DMAR and APRJ, 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

DMAR vs. APRJ - Drawdown Comparison

The maximum DMAR drawdown since its inception was -9.84%, which is greater than APRJ's maximum drawdown of -4.68%. Use the drawdown chart below to compare losses from any high point for DMAR and APRJ.

Drawdown Indicators

	DMAR	APRJ	Difference
Max Drawdown Largest peak-to-trough decline	-9.84%	-4.68%	-5.16%
Max Drawdown (1Y) Largest decline over 1 year	-1.53%	-0.40%	-1.13%
Max Drawdown (3Y) Largest decline over 3 years	-9.16%	-4.68%	-4.48%
Max Drawdown (5Y) Largest decline over 5 years	-9.84%	—	—
Current Drawdown Current decline from peak	-0.50%	-0.22%	-0.28%
Average Drawdown Average peak-to-trough decline	-1.83%	-0.12%	-1.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.26%	0.08%	+0.18%

Volatility

DMAR vs. APRJ - Volatility Comparison

FT Cboe Vest U.S. Equity Deep Buffer ETF - March (DMAR) has a higher volatility of 1.42% compared to Innovator Premium Income 30 Barrier ETF - April (APRJ) at 0.71%. This indicates that DMAR's price experiences larger fluctuations and is considered to be riskier than APRJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DMAR	APRJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.42%	0.71%	+0.71%
Volatility (6M) Calculated over the trailing 6-month period	3.04%	1.28%	+1.76%
Volatility (1Y) Calculated over the trailing 1-year period	3.77%	1.56%	+2.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.06%	3.62%	+3.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.96%	3.62%	+3.34%

DMAR vs. APRJ - Expense Ratio Comparison

DMAR has a 0.85% expense ratio, which is higher than APRJ's 0.79% expense ratio.

Dividends

DMAR vs. APRJ - Dividend Comparison

DMAR has not paid dividends to shareholders, while APRJ's dividend yield for the trailing twelve months is around 5.27%.

Position	TTM	2025	2024	2023
APRJ Innovator Premium Income 30 Barrier ETF - April	5.27%	5.46%	5.88%	4.88%
DMAR FT Cboe Vest U.S. Equity Deep Buffer ETF - March	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DMAR and APRJ in my portfolio?

DMAR and APRJ have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DMAR or APRJ?

DMAR has higher volatility (1.42%) compared to APRJ (0.71%). In terms of maximum drawdown, DMAR dropped -9.84% vs APRJ's -4.68%.

Which ETF is better, DMAR or APRJ?

On 3-year performance, DMAR leads with 11.70% vs 6.17% for APRJ. On fees, APRJ is cheaper at 0.79% per year. On volatility, APRJ has been the lower-risk option at 0.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DMAR or APRJ?

Over the 3-year period, DMAR has performed better with a 11.70% return vs 6.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DMAR or APRJ?

APRJ is cheaper with a 0.79% expense ratio, compared with 0.85% for DMAR.

Which ETF pays a higher dividend yield, DMAR or APRJ?

APRJ has the higher dividend yield at 5.27%, compared with 0.00% for DMAR.

What is the main difference between DMAR and APRJ?

They also come from different issuers: FT Vest and Innovator. Their fees differ too: 0.85% for DMAR and 0.79% for APRJ.

Which has better risk-adjusted returns?

APRJ currently has the higher Sharpe Ratio (4.29 vs 3.71), 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.