KAPR vs. BALT

Last updated Apr 1, 2026

Compare and contrast key facts about Innovator Russell 2000 Power Buffer ETF - April (KAPR) and Innovator Defined Wealth Shield ETF (BALT).

KAPR and BALT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. KAPR is a passively managed fund by Innovator that tracks the performance of the Russell 2000 Index. It was launched on Mar 31, 2020. BALT is a passively managed fund by Innovator that tracks the performance of the S&P 500. It was launched on Jun 30, 2021. Both KAPR and BALT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

KAPR vs. BALT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Russell 2000 Power Buffer ETF - April (KAPR) and Innovator Defined Wealth Shield ETF (BALT). The values are adjusted to include any dividend payments, if applicable.

KAPR vs. BALT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
KAPR Innovator Russell 2000 Power Buffer ETF - April	3.19%	7.42%	12.10%	15.36%	-8.14%	-0.54%
BALT Innovator Defined Wealth Shield ETF	-0.13%	6.65%	9.98%	7.45%	2.54%	0.82%

Returns By Period

In the year-to-date period, KAPR achieves a 3.19% return, which is significantly higher than BALT's -0.13% return.

KAPR

• 1D: 0.62%
• 1M: 1.14%
• YTD: 3.19%
• 6M: 5.99%
• 1Y: 17.50%
• 3Y*: 10.87%
• 5Y*: 6.01%
• 10Y*: —

BALT

• 1D: 0.10%
• 1M: -0.87%
• YTD: -0.13%
• 6M: 1.97%
• 1Y: 6.64%
• 3Y*: 7.11%
• 5Y*: —
• 10Y*: —

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

KAPR vs. BALT - Expense Ratio Comparison

KAPR has a 0.79% expense ratio, which is higher than BALT's 0.69% expense ratio.

KAPR

Innovator Russell 2000 Power Buffer ETF - April

BALT

Innovator Defined Wealth Shield ETF

Return for Risk

KAPR vs. BALT — Risk / Return Rank

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

KAPR

KAPR Risk / Return Rank: 87
KAPR Sharpe Ratio Rank: 85
KAPR Sortino Ratio Rank: 88
KAPR Omega Ratio Rank: 93
KAPR Calmar Ratio Rank: 77
KAPR Martin Ratio Rank: 92

BALT

BALT Risk / Return Rank: 86
BALT Sharpe Ratio Rank: 81
BALT Sortino Ratio Rank: 87
BALT Omega Ratio Rank: 94
BALT Calmar Ratio Rank: 76
BALT Martin Ratio Rank: 92

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.

KAPR vs. BALT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Russell 2000 Power Buffer ETF - April (KAPR) and Innovator Defined Wealth Shield ETF (BALT). 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.

	KAPR	BALT	Difference
Sharpe ratio Return per unit of total volatility	1.72	1.49	+0.24
Sortino ratio Return per unit of downside risk	2.47	2.29	+0.18
Omega ratio Gain probability vs. loss probability	1.42	1.43	0.00
Calmar ratio Return relative to maximum drawdown	2.10	1.91	+0.19
Martin ratio Return relative to average drawdown	12.86	12.79	+0.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KAPR vs. BALT - Sharpe Ratio Comparison

The current KAPR Sharpe Ratio is 1.72, which is comparable to the BALT Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of KAPR and BALT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	KAPR	BALT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.72	1.49	+0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	1.70	-0.97

Correlation

The correlation between KAPR and BALT is 0.64, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

KAPR vs. BALT - Dividend Comparison

Neither KAPR nor BALT has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

KAPR vs. BALT - Drawdown Comparison

The maximum KAPR drawdown since its inception was -16.91%, which is greater than BALT's maximum drawdown of -4.89%. Use the drawdown chart below to compare losses from any high point for KAPR and BALT.

Drawdown Indicators

	KAPR	BALT	Difference
Max Drawdown Largest peak-to-trough decline	-16.91%	-4.89%	-12.02%
Max Drawdown (1Y) Largest decline over 1 year	-8.39%	-3.48%	-4.91%
Max Drawdown (5Y) Largest decline over 5 years	-16.91%	—	—
Current Drawdown Current decline from peak	0.00%	-1.05%	+1.05%
Average Drawdown Average peak-to-trough decline	-4.02%	-0.35%	-3.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.37%	0.52%	+0.85%

Volatility

KAPR vs. BALT - Volatility Comparison

Innovator Russell 2000 Power Buffer ETF - April (KAPR) has a higher volatility of 1.70% compared to Innovator Defined Wealth Shield ETF (BALT) at 0.61%. This indicates that KAPR's price experiences larger fluctuations and is considered to be riskier than BALT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KAPR	BALT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.70%	0.61%	+1.09%
Volatility (6M) Calculated over the trailing 6-month period	3.93%	1.84%	+2.09%
Volatility (1Y) Calculated over the trailing 1-year period	10.19%	4.48%	+5.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.77%	3.36%	+8.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.72%	3.36%	+8.36%