IFLR vs. BAPR

Last updated Jun 4, 2026

IFLR (Innovator International Developed Managed Floor ETF) and BAPR (Innovator U.S. Equity Buffer ETF - April) are both exchange-traded funds - IFLR is a Global Equities fund actively managed by Innovator, while BAPR is a Defined Outcome fund tracking the Cboe S&P 500 Buffer Protect Index April. IFLR is actively managed, while BAPR is passively managed. A 0.74 correlation means they provide meaningful diversification when combined. IFLR charges 0.89%/yr vs 0.79%/yr for BAPR.

Performance

IFLR vs. BAPR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator International Developed Managed Floor ETF (IFLR) and Innovator U.S. Equity Buffer ETF - April (BAPR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IFLR achieves a 4.93% return, which is significantly lower than BAPR's 10.81% return.

IFLR

• 1D: -0.55%
• 1M: 3.67%
• YTD: 4.93%
• 6M: 7.25%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BAPR

• 1D: -0.23%
• 1M: 2.21%
• YTD: 10.81%
• 6M: 11.74%
• 1Y: 20.12%
• 3Y*: 15.31%
• 5Y*: 11.17%
• 10Y*: —

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

IFLR vs. BAPR - Yearly Performance Comparison

	2026 (YTD)	2025
IFLR Innovator International Developed Managed Floor ETF	4.93%	4.20%
BAPR Innovator U.S. Equity Buffer ETF - April	10.81%	2.83%

Correlation

The correlation between IFLR and BAPR is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 21, 2025	0.74

IFLR vs. BAPR - Sectors Allocation Comparison

Sectors	IFLR	BAPR
Financial Services	21.1%	11.9%
Industrials	17.4%	8.1%
Technology	11.4%	36.2%
Healthcare	9.6%	8.4%
Consumer Cyclical	7.3%	10.1%
Consumer Defensive	6.6%	4.9%
Basic Materials	5.7%	1.8%
Communication Services	3.9%	10.9%
Energy	3.7%	3.5%
Utilities	3.6%	2.3%
Real Estate	1.7%	1.9%

Return for Risk

IFLR vs. BAPR — Risk / Return Rank

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

BAPR

BAPR Risk / Return Rank: 96
BAPR Sharpe Ratio Rank: 94
BAPR Sortino Ratio Rank: 97
BAPR Omega Ratio Rank: 97
BAPR Calmar Ratio Rank: 97
BAPR 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.

IFLR vs. BAPR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator International Developed Managed Floor ETF (IFLR) and Innovator U.S. Equity Buffer ETF - April (BAPR). 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

	IFLR	BAPR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.59	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.98	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.43	0.84	+0.59

Drawdowns

IFLR vs. BAPR - Drawdown Comparison

The maximum IFLR drawdown since its inception was -9.58%, smaller than the maximum BAPR drawdown of -23.91%. Use the drawdown chart below to compare losses from any high point for IFLR and BAPR.

Drawdown Indicators

	IFLR	BAPR	Difference
Max Drawdown Largest peak-to-trough decline	-9.58%	-23.91%	+14.33%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.93%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-15.58%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.58%	—
Current Drawdown Current decline from peak	-2.65%	-0.23%	-2.42%
Average Drawdown Average peak-to-trough decline	-2.75%	-2.59%	-0.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.35%	—

Volatility

Volatility by Period

	IFLR	BAPR	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.06%	—
Volatility (6M) Calculated over the trailing 6-month period	—	4.53%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.07%	5.64%	+7.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.07%	11.49%	+1.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.07%	13.12%	-0.05%

IFLR vs. BAPR - Expense Ratio Comparison

IFLR has a 0.89% expense ratio, which is higher than BAPR's 0.79% expense ratio.

Dividends

IFLR vs. BAPR - Dividend Comparison

IFLR's dividend yield for the trailing twelve months is around 0.28%, while BAPR has not paid dividends to shareholders.

Position	TTM
BAPR Innovator U.S. Equity Buffer ETF - April	0.00%
IFLR Innovator International Developed Managed Floor ETF	0.28%

Frequently Asked Questions

Can I hold both IFLR and BAPR in my portfolio?

IFLR and BAPR have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IFLR or BAPR?

On fees, BAPR is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IFLR or BAPR?

BAPR is cheaper with a 0.79% expense ratio, compared with 0.89% for IFLR.

Which ETF pays a higher dividend yield, IFLR or BAPR?

IFLR has the higher dividend yield at 0.28%, compared with 0.00% for BAPR.

What is the main difference between IFLR and BAPR?

IFLR is categorized as Global Equities, while BAPR is Defined Outcome. Their fees differ too: 0.89% for IFLR and 0.79% for BAPR.