IBIG vs. KMAY

Last updated Jun 4, 2026

IBIG (iShares iBonds Oct 2030 Term TIPS ETF) and KMAY (Innovator U.S. Small Cap Power Buffer ETF - May) are both exchange-traded funds - IBIG is a Inflation-Protected Bonds fund tracking the ICE 2030 Maturity US Inflation-Linked Treasury Index, while KMAY is a Defined Outcome fund actively managed by Innovator. IBIG is passively managed, while KMAY is actively managed. Over the past year, IBIG returned 5.02% vs 15.29% for KMAY. At a 0.07 correlation, their price movements are largely independent. IBIG charges 0.10%/yr vs 0.79%/yr for KMAY.

Performance

IBIG vs. KMAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Oct 2030 Term TIPS ETF (IBIG) and Innovator U.S. Small Cap Power Buffer ETF - May (KMAY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBIG achieves a 1.64% return, which is significantly lower than KMAY's 4.86% return.

IBIG

• 1D: -0.09%
• 1M: -0.37%
• YTD: 1.64%
• 6M: 1.42%
• 1Y: 5.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

KMAY

• 1D: -0.66%
• 1M: 1.80%
• YTD: 4.86%
• 6M: 5.68%
• 1Y: 15.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IBIG vs. KMAY - Yearly Performance Comparison

	2026 (YTD)	2025
IBIG iShares iBonds Oct 2030 Term TIPS ETF	1.64%	2.93%
KMAY Innovator U.S. Small Cap Power Buffer ETF - May	4.86%	13.83%

Correlation

The correlation between IBIG and KMAY is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.08
Correlation (All Time) Calculated using the full available price history since May 2, 2025	0.07

Return for Risk

IBIG vs. KMAY — Risk / Return Rank

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

IBIG

IBIG Risk / Return Rank: 66
IBIG Sharpe Ratio Rank: 58
IBIG Sortino Ratio Rank: 67
IBIG Omega Ratio Rank: 59
IBIG Calmar Ratio Rank: 75
IBIG Martin Ratio Rank: 69

KMAY

KMAY Risk / Return Rank: 87
KMAY Sharpe Ratio Rank: 78
KMAY Sortino Ratio Rank: 86
KMAY Omega Ratio Rank: 85
KMAY Calmar Ratio Rank: 93
KMAY 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.

IBIG vs. KMAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Oct 2030 Term TIPS ETF (IBIG) and Innovator U.S. Small Cap Power Buffer ETF - May (KMAY). 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.

	IBIG	KMAY	Difference
Sharpe ratio: Return per unit of total volatility	1.93	2.51	-0.57
Sortino ratio: Return per unit of downside risk	3.05	3.83	-0.78
Omega ratio: Gain probability vs. loss probability	1.36	1.51	-0.15
Calmar ratio: Return relative to maximum drawdown	3.74	6.46	-2.72
Martin ratio: Return relative to average drawdown	12.68	27.25	-14.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBIG vs. KMAY - Sharpe Ratio Comparison

The current IBIG Sharpe Ratio is 1.93, which is comparable to the KMAY Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of IBIG and KMAY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IBIG	KMAY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.93	2.51	-0.57
Sharpe Ratio (All Time) Calculated using the full available price history	1.43	2.68	-1.24

Drawdowns

IBIG vs. KMAY - Drawdown Comparison

The maximum IBIG drawdown since its inception was -3.21%, which is greater than KMAY's maximum drawdown of -2.38%. Use the drawdown chart below to compare losses from any high point for IBIG and KMAY.

Drawdown Indicators

	IBIG	KMAY	Difference
Max Drawdown Largest peak-to-trough decline	-3.21%	-2.38%	-0.83%
Max Drawdown (1Y) Largest decline over 1 year	-1.35%	-2.38%	+1.03%
Current Drawdown Current decline from peak	-0.43%	-0.69%	+0.26%
Average Drawdown Average peak-to-trough decline	-0.77%	-0.35%	-0.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.40%	0.56%	-0.16%

Volatility

IBIG vs. KMAY - Volatility Comparison

The current volatility for iShares iBonds Oct 2030 Term TIPS ETF (IBIG) is 0.62%, while Innovator U.S. Small Cap Power Buffer ETF - May (KMAY) has a volatility of 2.89%. This indicates that IBIG experiences smaller price fluctuations and is considered to be less risky than KMAY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBIG	KMAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.62%	2.89%	-2.27%
Volatility (6M) Calculated over the trailing 6-month period	1.70%	3.99%	-2.29%
Volatility (1Y) Calculated over the trailing 1-year period	2.62%	6.16%	-3.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.29%	6.65%	-2.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.29%	6.65%	-2.36%

IBIG vs. KMAY - Expense Ratio Comparison

IBIG has a 0.10% expense ratio, which is lower than KMAY's 0.79% expense ratio.

Dividends

IBIG vs. KMAY - Dividend Comparison

IBIG's dividend yield for the trailing twelve months is around 3.89%, while KMAY has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
IBIG iShares iBonds Oct 2030 Term TIPS ETF	3.89%	4.70%	4.15%	0.78%
KMAY Innovator U.S. Small Cap Power Buffer ETF - May	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBIG and KMAY in my portfolio?

IBIG and KMAY have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBIG or KMAY?

KMAY has higher volatility (2.89%) compared to IBIG (0.62%). In terms of maximum drawdown, IBIG dropped -3.21% vs KMAY's -2.38%.

Which ETF is better, IBIG or KMAY?

On 1-year performance, KMAY leads with 15.29% vs 5.02% for IBIG. On fees, IBIG is cheaper at 0.10% per year. On volatility, IBIG has been the lower-risk option at 0.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBIG or KMAY?

Over the 1-year period, KMAY has performed better with a 15.29% return vs 5.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBIG or KMAY?

IBIG is cheaper with a 0.10% expense ratio, compared with 0.79% for KMAY.

Which ETF pays a higher dividend yield, IBIG or KMAY?

IBIG has the higher dividend yield at 3.89%, compared with 0.00% for KMAY.

What is the main difference between IBIG and KMAY?

IBIG is categorized as Inflation-Protected Bonds, while KMAY is Defined Outcome. They also come from different issuers: iShares and Innovator. Their fees differ too: 0.10% for IBIG and 0.79% for KMAY.

Which has better risk-adjusted returns?

KMAY currently has the higher Sharpe Ratio (2.51 vs 1.93), 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.