DOCT vs. EAPR

Last updated Jun 24, 2026

DOCT (FT Vest U.S. Equity Deep Buffer ETF - October) and EAPR (Innovator Emerging Markets Power Buffer ETF - April) are both Defined Outcome funds - DOCT tracks the S&P 500 while EAPR tracks the MSCI Emerging Markets. Both are passively managed. Over the past 5 years, DOCT returned 7.57%/yr vs 4.84%/yr for EAPR. A 0.52 correlation means they provide meaningful diversification when combined. DOCT charges 0.85%/yr vs 0.89%/yr for EAPR.

Performance

DOCT vs. EAPR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Equity Deep Buffer ETF - October (DOCT) and Innovator Emerging Markets Power Buffer ETF - April (EAPR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DOCT achieves a 4.64% return, which is significantly lower than EAPR's 9.33% return.

DOCT

• 1D: -0.42%
• 1M: 0.11%
• YTD: 4.64%
• 6M: 4.31%
• 1Y: 15.18%
• 3Y*: 10.34%
• 5Y*: 7.57%
• 10Y*: —

EAPR

• 1D: -2.64%
• 1M: -0.09%
• YTD: 9.33%
• 6M: 9.33%
• 1Y: 18.07%
• 3Y*: 9.89%
• 5Y*: 4.84%
• 10Y*: —

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

DOCT vs. EAPR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DOCT FT Vest U.S. Equity Deep Buffer ETF - October	4.64%	12.50%	8.28%	16.13%	-5.27%	4.68%
EAPR Innovator Emerging Markets Power Buffer ETF - April	9.33%	14.80%	2.86%	8.19%	-5.01%	-2.89%

Correlation

The correlation between DOCT and EAPR is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (All Time) Calculated using the full available price history since Apr 1, 2021	0.52

The correlation between DOCT and EAPR has been stable across timeframes, ranging from 0.52 to 0.57 - a consistent structural relationship.

DOCT vs. EAPR - Sectors Allocation Comparison

Sectors	DOCT	EAPR
Technology	39.0%	42.0%
Financial Services	11.1%	18.1%
Communication Services	10.6%	6.3%
Consumer Cyclical	9.9%	8.9%
Healthcare	8.3%	2.6%
Industrials	7.8%	6.9%
Consumer Defensive	4.5%	2.7%
Energy	3.1%	3.6%
Utilities	2.1%	1.9%
Real Estate	1.8%	1.0%
Basic Materials	1.7%	6.0%

Return for Risk

DOCT vs. EAPR — Risk / Return Rank

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

DOCT

DOCT Risk / Return Rank: 85
DOCT Sharpe Ratio Rank: 86
DOCT Sortino Ratio Rank: 90
DOCT Omega Ratio Rank: 88
DOCT Calmar Ratio Rank: 74
DOCT Martin Ratio Rank: 88

EAPR

EAPR Risk / Return Rank: 84
EAPR Sharpe Ratio Rank: 70
EAPR Sortino Ratio Rank: 76
EAPR Omega Ratio Rank: 92
EAPR Calmar Ratio Rank: 87
EAPR Martin Ratio Rank: 94

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.

DOCT vs. EAPR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Deep Buffer ETF - October (DOCT) and Innovator Emerging Markets Power Buffer ETF - April (EAPR). 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.

	DOCT	EAPR	Difference
Sharpe ratio: Return per unit of total volatility	2.56	2.09	+0.47
Sortino ratio: Return per unit of downside risk	3.86	3.11	+0.75
Omega ratio: Gain probability vs. loss probability	1.50	1.57	-0.07
Calmar ratio: Return relative to maximum drawdown	3.51	4.65	-1.14
Martin ratio: Return relative to average drawdown	17.53	25.14	-7.61

DOCT vs. EAPR - Sharpe Ratio Comparison

The current DOCT Sharpe Ratio is 2.56, which is comparable to the EAPR Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of DOCT and EAPR, 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

DOCT vs. EAPR - Drawdown Comparison

The maximum DOCT drawdown since its inception was -9.92%, smaller than the maximum EAPR drawdown of -17.65%. Use the drawdown chart below to compare losses from any high point for DOCT and EAPR.

Drawdown Indicators

	DOCT	EAPR	Difference
Max Drawdown Largest peak-to-trough decline	-9.92%	-17.65%	+7.73%
Max Drawdown (1Y) Largest decline over 1 year	-4.34%	-3.90%	-0.44%
Max Drawdown (3Y) Largest decline over 3 years	-9.92%	-10.24%	+0.32%
Max Drawdown (5Y) Largest decline over 5 years	-9.92%	-17.65%	+7.73%
Current Drawdown Current decline from peak	-0.66%	-2.64%	+1.98%
Average Drawdown Average peak-to-trough decline	-1.53%	-4.04%	+2.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.87%	0.72%	+0.15%

Volatility

DOCT vs. EAPR - Volatility Comparison

The current volatility for FT Vest U.S. Equity Deep Buffer ETF - October (DOCT) is 1.64%, while Innovator Emerging Markets Power Buffer ETF - April (EAPR) has a volatility of 5.46%. This indicates that DOCT experiences smaller price fluctuations and is considered to be less risky than EAPR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DOCT	EAPR	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.64%	5.46%	-3.82%
Volatility (6M) Calculated over the trailing 6-month period	4.59%	8.07%	-3.48%
Volatility (1Y) Calculated over the trailing 1-year period	5.98%	8.68%	-2.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.36%	10.33%	-2.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.35%	10.21%	+38.14%

DOCT vs. EAPR - Expense Ratio Comparison

DOCT has a 0.85% expense ratio, which is lower than EAPR's 0.89% expense ratio.

Dividends

DOCT vs. EAPR - Dividend Comparison

Neither DOCT nor EAPR has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both DOCT and EAPR in my portfolio?

DOCT and EAPR have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DOCT or EAPR?

EAPR has higher volatility (5.46%) compared to DOCT (1.64%). In terms of maximum drawdown, DOCT dropped -9.92% vs EAPR's -17.65%.

Which ETF is better, DOCT or EAPR?

On 5-year performance, DOCT leads with 7.57% vs 4.84% for EAPR. On fees, DOCT is cheaper at 0.85% per year. On volatility, DOCT has been the lower-risk option at 1.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DOCT or EAPR?

Over the 5-year period, DOCT has performed better with a 7.57% return vs 4.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DOCT or EAPR?

DOCT is cheaper with a 0.85% expense ratio, compared with 0.89% for EAPR.

Which ETF pays a higher dividend yield, DOCT or EAPR?

DOCT and EAPR have nearly identical dividend yields, around 0.00%.

What is the main difference between DOCT and EAPR?

DOCT tracks S&P 500, while EAPR tracks MSCI Emerging Markets. They also come from different issuers: FT Vest and Innovator. Their fees differ too: 0.85% for DOCT and 0.89% for EAPR.

Which has better risk-adjusted returns?

DOCT currently has the higher Sharpe Ratio (2.56 vs 2.09), 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.