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EAPR vs. HDV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EAPR vs. HDV

Last updated Aug 6, 2026
Documentation

EAPR (Innovator Emerging Markets Power Buffer ETF - April) and HDV (iShares Core High Dividend ETF) are both exchange-traded funds - EAPR is a Defined Outcome fund tracking the MSCI Emerging Markets, while HDV is a Dividend fund tracking the Morningstar Dividend Yield Focus Index. Both are passively managed. Over the past 5 years, EAPR returned 5.67%/yr vs 12.00%/yr for HDV. Their 0.30 correlation means their historical movements had little consistent relationship. EAPR charges 0.89%/yr vs 0.08%/yr for HDV.

Performance

EAPR vs. HDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Emerging Markets Power Buffer ETF - April (EAPR) and iShares Core High Dividend ETF (HDV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EAPR achieves a 10.77% return, which is significantly lower than HDV's 19.66% return.

EAPR

1D
0.10%
1M
0.49%
6M
9.81%
YTD
10.77%
1Y
16.48%
3Y*
9.53%
5Y*
5.67%
10Y*
—
ALL TIME*
5.11%

HDV

1D
-0.24%
1M
3.72%
6M
7.30%
YTD
19.66%
1Y
24.30%
3Y*
15.80%
5Y*
12.00%
10Y*
9.57%
ALL TIME*
10.79%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

EAPR

Innovator Emerging Markets Power Buffer ETF - April
$411.71K$281.23K$454.33K

HDV

iShares Core High Dividend ETF
$205.70M$171.89M$116.16M

EAPR vs. HDV - Yearly Performance Comparison

2026 (YTD)20252024202320222021
EAPR
Innovator Emerging Markets Power Buffer ETF - April		10.77%14.80%2.86%8.19%-5.01%-2.89%
HDV
iShares Core High Dividend ETF		19.66%11.90%14.16%1.72%7.05%9.33%

Correlation

The correlation between EAPR and HDV is -0.16, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

-0.16

Correlation (3Y)
Balances recent behavior with more history.

0.18

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.30

Correlation (All Time)
Calculated using the full available price history since Apr 1, 2021

0.30

The correlation between EAPR and HDV shifts across timeframes, from -0.16 (1 year) to 0.30 (5 years), reflecting how their relationship changes across market environments.

EAPR vs. HDV - Sectors Allocation Comparison

Sectors
EAPR
HDV

Technology

45.2%
0.9%

Financial Services

18.5%
4.7%

Consumer Cyclical

7.5%
9.3%

Industrials

6.3%
2.8%

Communication Services

6.0%
5.2%

Basic Materials

5.5%
0.8%

Energy

3.2%
19.8%

Consumer Defensive

2.6%
24.3%

Healthcare

2.5%
23.9%

Utilities

1.8%
8.2%

Real Estate

1.0%

-

Technology

EAPR
45.2%
HDV
0.9%

Financial Services

EAPR
18.5%
HDV
4.7%

Consumer Cyclical

EAPR
7.5%
HDV
9.3%

Industrials

EAPR
6.3%
HDV
2.8%

Communication Services

EAPR
6.0%
HDV
5.2%

Basic Materials

EAPR
5.5%
HDV
0.8%

Energy

EAPR
3.2%
HDV
19.8%

Consumer Defensive

EAPR
2.6%
HDV
24.3%

Healthcare

EAPR
2.5%
HDV
23.9%

Utilities

EAPR
1.8%
HDV
8.2%

Real Estate

EAPR
1.0%
HDV

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Innovator Emerging Markets Power Buffer ETF - April

iShares Core High Dividend ETF

Often compared with EAPR:
EAPR vs. EBUFEAPR vs. APRZEAPR vs. AIOOEAPR vs. CBOJEAPR vs. ZNOVEAPR vs. UJANEAPR vs. PMAY
Often compared with HDV:
HDV vs. SCHDHDV vs. VYMHDV vs. SPYDHDV vs. DGROHDV vs. DVYHDV vs. VIGHDV vs. SPY

Return for Risk

EAPR vs. HDV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
EAPR
EAPR Risk / Return Rank: 7676
Overall Rank
EAPR Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
EAPR Sortino Ratio Rank: 6767
Sortino Ratio Rank
EAPR Omega Ratio Rank: 8787
Omega Ratio Rank
EAPR Calmar Ratio Rank: 7878
Calmar Ratio Rank
EAPR Martin Ratio Rank: 8484
Martin Ratio Rank
HDV
HDV Risk / Return Rank: 8787
Overall Rank
HDV Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
HDV Sortino Ratio Rank: 9090
Sortino Ratio Rank
HDV Omega Ratio Rank: 8484
Omega Ratio Rank
HDV Calmar Ratio Rank: 9292
Calmar Ratio Rank
HDV Martin Ratio Rank: 8484
Martin Ratio Rank
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.

EAPR vs. HDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Emerging Markets Power Buffer ETF - April (EAPR) and iShares Core High Dividend ETF (HDV). 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.

EAPRHDVDifference
Sharpe ratioReturn per unit of total volatility
1.71
2.26

-0.55

Sortino ratioReturn per unit of downside risk
2.51
3.41

-0.90

Omega ratioGain probability vs. loss probability

1.42

1.40

+0.03

Calmar ratioReturn relative to maximum drawdown

3.14

4.71

-1.58

Martin ratioReturn relative to average drawdown

13.14

12.85

+0.29

EAPR vs. HDV - Sharpe Ratio Comparison

The current EAPR Sharpe Ratio is 1.71, which is comparable to the HDV Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of EAPR and HDV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

EAPR vs. HDV - Drawdown Comparison

The maximum EAPR drawdown since its inception was -17.65%, smaller than the maximum HDV drawdown of -37.04%. Use the drawdown chart below to compare losses from any high point for EAPR and HDV.

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Drawdown Indicators

EAPRHDVDifference

Max Drawdown

Largest peak-to-trough decline

-17.65%

-37.04%

+19.39%

Max Drawdown (1Y)

Largest decline over 1 year

-5.28%

-5.18%

-0.10%

Max Drawdown (3Y)

Largest decline over 3 years

-10.24%

-10.49%

+0.25%

Max Drawdown (5Y)

Largest decline over 5 years

-16.34%

-15.42%

-0.92%

Max Drawdown (10Y)

Largest decline over 10 years

—

-37.04%

—

Current Drawdown

Current decline from peak

-1.35%

-1.72%

+0.37%

Average Drawdown

Average peak-to-trough decline

-4.01%

-3.06%

-0.95%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.26%

1.90%

-0.64%

Volatility

EAPR vs. HDV - Volatility Comparison

Innovator Emerging Markets Power Buffer ETF - April (EAPR) and iShares Core High Dividend ETF (HDV) have volatilities of 4.13% and 4.12%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EAPRHDVDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.13%

4.12%

+0.01%

Volatility (6M)

Calculated over the trailing 6-month period

9.33%

8.54%

+0.79%

Volatility (1Y)

Calculated over the trailing 1-year period

9.67%

10.80%

-1.13%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.42%

12.94%

-2.52%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

10.30%

15.78%

-5.48%

EAPR vs. HDV - Expense Ratio Comparison

EAPR has a 0.89% expense ratio, which is higher than HDV's 0.08% expense ratio.

Dividends

EAPR vs. HDV - Dividend Comparison

EAPR has not paid dividends to shareholders, while HDV's dividend yield for the trailing twelve months is around 3.08%.

PositionTTM20252024202320222021202020192018201720162015
EAPR
Innovator Emerging Markets Power Buffer ETF - April		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
HDV
iShares Core High Dividend ETF		3.08%3.22%3.67%3.82%3.56%3.47%4.07%3.27%3.67%3.27%3.28%3.92%

Frequently Asked Questions

EAPR and HDV have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EAPR has higher volatility (4.13%) compared to HDV (4.12%). In terms of maximum drawdown, EAPR dropped -17.65% vs HDV's -37.04%.

On 5-year performance, HDV leads with 12.00% vs 5.67% for EAPR. On fees, HDV is cheaper at 0.08% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, HDV has performed better with a 12.00% return vs 5.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

HDV is cheaper with a 0.08% expense ratio, compared with 0.89% for EAPR.

HDV has the higher dividend yield at 3.08%, compared with 0.00% for EAPR.

EAPR is categorized as Defined Outcome, while HDV is Dividend. EAPR tracks MSCI Emerging Markets, while HDV tracks Morningstar Dividend Yield Focus Index. They also come from different issuers: Innovator and iShares. Their fees differ too: 0.89% for EAPR and 0.08% for HDV.

HDV currently has the higher Sharpe Ratio (2.26 vs 1.71), 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.

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