FFEB vs. KAPR

Last updated Jun 24, 2026

FFEB (FT Vest U.S. Equity Buffer ETF - February) and KAPR (Innovator Russell 2000 Power Buffer ETF - April) are both Defined Outcome funds. FFEB is actively managed, while KAPR is passively managed. Over the past 5 years, FFEB returned 10.75%/yr vs 7.23%/yr for KAPR. A 0.74 correlation means they provide meaningful diversification when combined. FFEB charges 0.85%/yr vs 0.79%/yr for KAPR.

Performance

FFEB vs. KAPR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Equity Buffer ETF - February (FFEB) 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, FFEB achieves a 6.88% return, which is significantly lower than KAPR's 12.34% return.

FFEB

• 1D: -0.56%
• 1M: -0.17%
• YTD: 6.88%
• 6M: 6.77%
• 1Y: 17.62%
• 3Y*: 15.58%
• 5Y*: 10.75%
• 10Y*: —

KAPR

• 1D: -0.37%
• 1M: 1.73%
• YTD: 12.34%
• 6M: 12.09%
• 1Y: 23.29%
• 3Y*: 13.56%
• 5Y*: 7.23%
• 10Y*: —

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

FFEB vs. KAPR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FFEB FT Vest U.S. Equity Buffer ETF - February	6.88%	13.76%	16.64%	19.95%	-7.51%	16.26%	28.14%
KAPR Innovator Russell 2000 Power Buffer ETF - April	12.34%	7.42%	12.10%	15.36%	-8.14%	2.48%	18.61%

Correlation

The correlation between FFEB and KAPR is 0.77, 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	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (All Time) Calculated using the full available price history since Apr 1, 2020	0.74

The correlation between FFEB and KAPR has been stable across timeframes, ranging from 0.71 to 0.77 - a consistent structural relationship.

FFEB vs. KAPR - Sectors Allocation Comparison

Sectors	FFEB	KAPR
Technology	39.0%	19.1%
Financial Services	11.1%	15.5%
Communication Services	10.6%	2.4%
Consumer Cyclical	9.9%	8.0%
Healthcare	8.3%	16.2%
Industrials	7.8%	17.9%
Consumer Defensive	4.5%	2.3%
Energy	3.1%	5.5%
Utilities	2.1%	2.8%
Real Estate	1.8%	5.9%
Basic Materials	1.7%	4.6%

Return for Risk

FFEB vs. KAPR — Risk / Return Rank

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

FFEB

FFEB Risk / Return Rank: 81
FFEB Sharpe Ratio Rank: 83
FFEB Sortino Ratio Rank: 85
FFEB Omega Ratio Rank: 86
FFEB Calmar Ratio Rank: 67
FFEB Martin Ratio Rank: 84

KAPR

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

FFEB vs. KAPR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Buffer ETF - February (FFEB) 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.

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.

	FFEB	KAPR	Difference
Sharpe ratio: Return per unit of total volatility	2.45	3.50	-1.04
Sortino ratio: Return per unit of downside risk	3.52	5.43	-1.91
Omega ratio: Gain probability vs. loss probability	1.49	1.73	-0.24
Calmar ratio: Return relative to maximum drawdown	3.09	9.30	-6.21
Martin ratio: Return relative to average drawdown	16.18	43.60	-27.42

FFEB vs. KAPR - Sharpe Ratio Comparison

The current FFEB Sharpe Ratio is 2.45, which is comparable to the KAPR Sharpe Ratio of 3.50. The chart below compares the historical Sharpe Ratios of FFEB and KAPR, 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

FFEB vs. KAPR - Drawdown Comparison

The maximum FFEB drawdown since its inception was -23.14%, which is greater than KAPR's maximum drawdown of -16.91%. Use the drawdown chart below to compare losses from any high point for FFEB and KAPR.

Drawdown Indicators

	FFEB	KAPR	Difference
Max Drawdown Largest peak-to-trough decline	-23.14%	-16.91%	-6.23%
Max Drawdown (1Y) Largest decline over 1 year	-5.73%	-2.52%	-3.21%
Max Drawdown (3Y) Largest decline over 3 years	-11.89%	-16.84%	+4.95%
Max Drawdown (5Y) Largest decline over 5 years	-13.85%	-16.91%	+3.06%
Current Drawdown Current decline from peak	-1.01%	-0.37%	-0.64%
Average Drawdown Average peak-to-trough decline	-2.41%	-3.89%	+1.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.09%	0.54%	+0.55%

Volatility

FFEB vs. KAPR - Volatility Comparison

The current volatility for FT Vest U.S. Equity Buffer ETF - February (FFEB) is 2.27%, while Innovator Russell 2000 Power Buffer ETF - April (KAPR) has a volatility of 2.53%. This indicates that FFEB experiences smaller price fluctuations and is considered to be less risky than KAPR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFEB	KAPR	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.27%	2.53%	-0.26%
Volatility (6M) Calculated over the trailing 6-month period	5.91%	4.57%	+1.34%
Volatility (1Y) Calculated over the trailing 1-year period	7.26%	6.70%	+0.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.83%	11.76%	-0.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.72%	11.65%	+2.07%

FFEB vs. KAPR - Expense Ratio Comparison

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

Dividends

FFEB vs. KAPR - Dividend Comparison

Neither FFEB nor KAPR has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FFEB and KAPR in my portfolio?

FFEB and KAPR have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FFEB or KAPR?

KAPR has higher volatility (2.53%) compared to FFEB (2.27%). In terms of maximum drawdown, FFEB dropped -23.14% vs KAPR's -16.91%.

Which ETF is better, FFEB or KAPR?

On 5-year performance, FFEB leads with 10.75% vs 7.23% for KAPR. On fees, KAPR is cheaper at 0.79% per year. On volatility, FFEB has been the lower-risk option at 2.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FFEB or KAPR?

Over the 5-year period, FFEB has performed better with a 10.75% return vs 7.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FFEB or KAPR?

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

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

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

What is the main difference between FFEB and KAPR?

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

Which has better risk-adjusted returns?

KAPR currently has the higher Sharpe Ratio (3.50 vs 2.45), 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.