HOCT vs. AAPR

Last updated Jun 4, 2026

HOCT (Innovator Premium Income 9 Buffer ETF - October) and AAPR (Innovator Equity Defined Protection ETF - 2 Yr To April 2026) are both Options Trading funds from Innovator. Both are actively managed. Both charge a 0.79% expense ratio.

Performance

HOCT vs. AAPR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Premium Income 9 Buffer ETF - October (HOCT) and Innovator Equity Defined Protection ETF - 2 Yr To April 2026 (AAPR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HOCT

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AAPR

• 1D: -0.14%
• 1M: 0.68%
• YTD: 3.82%
• 6M: 4.48%
• 1Y: 9.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HOCT vs. AAPR - Yearly Performance Comparison

	2026 (YTD)
HOCT Innovator Premium Income 9 Buffer ETF - October	0.00%
AAPR Innovator Equity Defined Protection ETF - 2 Yr To April 2026	3.29%

Return for Risk

HOCT vs. AAPR — Risk / Return Rank

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

AAPR

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

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.

HOCT vs. AAPR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Premium Income 9 Buffer ETF - October (HOCT) and Innovator Equity Defined Protection ETF - 2 Yr To April 2026 (AAPR). 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

	HOCT	AAPR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	4.18	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	1.73	—

Drawdowns

HOCT vs. AAPR - Drawdown Comparison

The maximum HOCT drawdown since its inception was 0.00%, smaller than the maximum AAPR drawdown of -5.99%. Use the drawdown chart below to compare losses from any high point for HOCT and AAPR.

Drawdown Indicators

	HOCT	AAPR	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-5.99%	+5.99%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.81%	—
Current Drawdown Current decline from peak	0.00%	-0.15%	+0.15%
Average Drawdown Average peak-to-trough decline	0.00%	-0.45%	+0.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.16%	—

Volatility

Volatility by Period

	HOCT	AAPR	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.68%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.57%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	2.36%	-2.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	4.81%	-4.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	4.81%	-4.81%

HOCT vs. AAPR - Expense Ratio Comparison

Both HOCT and AAPR have an expense ratio of 0.79%.

Dividends

HOCT vs. AAPR - Dividend Comparison

Neither HOCT nor AAPR has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Which ETF is better, HOCT or AAPR?

Both ETFs have the same 0.79% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HOCT or AAPR?

HOCT and AAPR have the same expense ratio: 0.79% per year.

Which ETF pays a higher dividend yield, HOCT or AAPR?

HOCT and AAPR have nearly identical dividend yields, around 0.00%.