KAPR vs. DBE
KAPR (Innovator Russell 2000 Power Buffer ETF - April) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - KAPR is a Defined Outcome fund tracking the Russell 2000 Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 5 years, KAPR returned 7.18%/yr vs 19.66%/yr for DBE. At a 0.15 correlation, their price movements are largely independent. KAPR charges 0.79%/yr vs 0.78%/yr for DBE.
Performance
KAPR vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, KAPR achieves a 10.96% return, which is significantly lower than DBE's 83.68% return.
KAPR
- 1D
- -0.52%
- 1M
- 1.70%
- YTD
- 10.96%
- 6M
- 11.76%
- 1Y
- 22.85%
- 3Y*
- 13.04%
- 5Y*
- 7.18%
- 10Y*
- —
DBE
- 1D
- 2.33%
- 1M
- -5.45%
- YTD
- 83.68%
- 6M
- 74.95%
- 1Y
- 84.41%
- 3Y*
- 23.42%
- 5Y*
- 19.66%
- 10Y*
- 12.03%
KAPR vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
KAPR Innovator Russell 2000 Power Buffer ETF - April | 10.96% | 7.42% | 12.10% | 15.36% | -8.14% | 2.48% | 21.17% |
DBE Invesco DB Energy Fund | 83.68% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | 37.91% |
Correlation
The correlation between KAPR and DBE is -0.31, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2020 | 0.15 |
The correlation between KAPR and DBE shifts across timeframes, from -0.31 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
KAPR vs. DBE — Risk / Return Rank
KAPR
DBE
KAPR vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Russell 2000 Power Buffer ETF - April (KAPR) and Invesco DB Energy Fund (DBE). 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 | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.10 | ||
| Sortino ratioReturn per unit of downside risk | +2.61 | ||
| Omega ratioGain probability vs. loss probability | 1.74 | 1.40 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 9.12 | 5.89 | +3.23 |
| Martin ratioReturn relative to average drawdown | 43.03 | 11.53 | +31.50 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| KAPR | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.53 | 2.43 | +1.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.61 | 0.67 | -0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.43 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.83 | 0.09 | +0.73 |
Drawdowns
KAPR vs. DBE - Drawdown Comparison
The maximum KAPR drawdown since its inception was -16.91%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for KAPR and DBE.
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Drawdown Indicators
| KAPR | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.91% | -86.69% | +69.78% |
Max Drawdown (1Y)Largest decline over 1 year | -2.52% | -14.41% | +11.89% |
Max Drawdown (3Y)Largest decline over 3 years | -16.84% | -23.89% | +7.05% |
Max Drawdown (5Y)Largest decline over 5 years | -16.91% | -38.74% | +21.83% |
Max Drawdown (10Y)Largest decline over 10 years | — | -60.84% | — |
Current DrawdownCurrent decline from peak | -0.52% | -30.27% | +29.75% |
Average DrawdownAverage peak-to-trough decline | -3.92% | -57.31% | +53.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.53% | 7.35% | -6.82% |
Volatility
KAPR vs. DBE - Volatility Comparison
The current volatility for Innovator Russell 2000 Power Buffer ETF - April (KAPR) is 2.30%, while Invesco DB Energy Fund (DBE) has a volatility of 12.95%. This indicates that KAPR experiences smaller price fluctuations and is considered to be less risky than DBE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KAPR | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.30% | 12.95% | -10.65% |
Volatility (6M)Calculated over the trailing 6-month period | 4.06% | 30.86% | -26.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.54% | 34.97% | -28.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.75% | 29.39% | -17.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.63% | 28.33% | -16.70% |
KAPR vs. DBE - Expense Ratio Comparison
KAPR has a 0.79% expense ratio, which is higher than DBE's 0.78% expense ratio.
Dividends
KAPR vs. DBE - Dividend Comparison
KAPR has not paid dividends to shareholders, while DBE's dividend yield for the trailing twelve months is around 2.10%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.10% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% |
KAPR Innovator Russell 2000 Power Buffer ETF - April | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
KAPR and DBE have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (12.95%) compared to KAPR (2.30%). In terms of maximum drawdown, KAPR dropped -16.91% vs DBE's -86.69%.
On 5-year performance, DBE leads with 19.66% vs 7.18% for KAPR. On fees, DBE is cheaper at 0.78% per year. On volatility, KAPR has been the lower-risk option at 2.30%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DBE has performed better with a 19.66% return vs 7.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DBE is cheaper with a 0.78% expense ratio, compared with 0.79% for KAPR.
DBE has the higher dividend yield at 2.10%, compared with 0.00% for KAPR.
KAPR is categorized as Defined Outcome, while DBE is Oil & Gas. KAPR tracks Russell 2000 Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: Innovator and Invesco. Their fees differ too: 0.79% for KAPR and 0.78% for DBE.
KAPR currently has the higher Sharpe Ratio (3.53 vs 2.43), 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.
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