KAPR vs. FUTY

Last updated Jun 23, 2026

KAPR (Innovator Russell 2000 Power Buffer ETF - April) and FUTY (Fidelity MSCI Utilities Index ETF) are both exchange-traded funds - KAPR is a Defined Outcome fund tracking the Russell 2000 Index, while FUTY is a Utilities Equities fund tracking the MSCI USA IMI Utilities Index. Both are passively managed. Over the past 5 years, KAPR returned 7.40%/yr vs 10.21%/yr for FUTY. At a 0.38 correlation, their price movements are largely independent. KAPR charges 0.79%/yr vs 0.08%/yr for FUTY.

Performance

KAPR vs. FUTY - Performance Comparison

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

Returns By Period

In the year-to-date period, KAPR achieves a 12.76% return, which is significantly higher than FUTY's 6.00% return.

KAPR

• 1D: 0.33%
• 1M: 2.10%
• YTD: 12.76%
• 6M: 12.47%
• 1Y: 24.25%
• 3Y*: 13.70%
• 5Y*: 7.40%
• 10Y*: —

FUTY

• 1D: 0.43%
• 1M: -0.81%
• YTD: 6.00%
• 6M: 6.35%
• 1Y: 14.54%
• 3Y*: 14.58%
• 5Y*: 10.21%
• 10Y*: 9.18%

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

KAPR vs. FUTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
KAPR Innovator Russell 2000 Power Buffer ETF - April	12.76%	7.42%	12.10%	15.36%	-8.14%	2.48%	18.61%
FUTY Fidelity MSCI Utilities Index ETF	6.00%	16.40%	23.20%	-7.46%	1.12%	17.53%	15.66%

Correlation

The correlation between KAPR and FUTY is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (All Time) Calculated using the full available price history since Apr 1, 2020	0.38

The correlation between KAPR and FUTY shifts across timeframes, from 0.28 (1 year) to 0.38 (all time), reflecting how their relationship changes across market environments.

KAPR vs. FUTY - Sectors Allocation Comparison

Sectors	KAPR	FUTY
Technology	19.1%	-
Industrials	17.9%	0.2%
Healthcare	16.2%	-
Financial Services	15.5%	-
Consumer Cyclical	8.0%	-
Real Estate	5.9%	-
Energy	5.5%	0.5%
Basic Materials	4.6%	-
Utilities	2.8%	99.3%
Communication Services	2.4%	-
Consumer Defensive	2.3%	-

Return for Risk

KAPR vs. FUTY — Risk / Return Rank

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

KAPR

KAPR Risk / Return Rank: 96
KAPR Sharpe Ratio Rank: 95
KAPR Sortino Ratio Rank: 96
KAPR Omega Ratio Rank: 96
KAPR Calmar Ratio Rank: 97
KAPR Martin Ratio Rank: 97

FUTY

FUTY Risk / Return Rank: 28
FUTY Sharpe Ratio Rank: 29
FUTY Sortino Ratio Rank: 27
FUTY Omega Ratio Rank: 27
FUTY Calmar Ratio Rank: 33
FUTY Martin Ratio Rank: 27

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. FUTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Russell 2000 Power Buffer ETF - April (KAPR) and Fidelity MSCI Utilities Index ETF (FUTY). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	KAPR	FUTY	Difference
Sharpe ratio: Return per unit of total volatility	3.65	1.01	+2.63
Sortino ratio: Return per unit of downside risk	5.66	1.42	+4.23
Omega ratio: Gain probability vs. loss probability	1.77	1.18	+0.59
Calmar ratio: Return relative to maximum drawdown	9.68	1.63	+8.04
Martin ratio: Return relative to average drawdown	45.44	3.49	+41.94

KAPR vs. FUTY - Sharpe Ratio Comparison

The current KAPR Sharpe Ratio is 3.65, which is higher than the FUTY Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of KAPR and FUTY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

KAPR vs. FUTY - Drawdown Comparison

The maximum KAPR drawdown since its inception was -16.91%, smaller than the maximum FUTY drawdown of -36.44%. Use the drawdown chart below to compare losses from any high point for KAPR and FUTY.

Drawdown Indicators

	KAPR	FUTY	Difference
Max Drawdown Largest peak-to-trough decline	-16.91%	-36.44%	+19.53%
Max Drawdown (1Y) Largest decline over 1 year	-2.52%	-8.93%	+6.41%
Max Drawdown (3Y) Largest decline over 3 years	-16.84%	-17.35%	+0.51%
Max Drawdown (5Y) Largest decline over 5 years	-16.91%	-25.11%	+8.20%
Max Drawdown (10Y) Largest decline over 10 years	—	-36.44%	—
Current Drawdown Current decline from peak	0.00%	-4.73%	+4.73%
Average Drawdown Average peak-to-trough decline	-3.89%	-6.03%	+2.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.54%	4.17%	-3.63%

Volatility

KAPR vs. FUTY - Volatility Comparison

The current volatility for Innovator Russell 2000 Power Buffer ETF - April (KAPR) is 2.50%, while Fidelity MSCI Utilities Index ETF (FUTY) has a volatility of 5.26%. This indicates that KAPR experiences smaller price fluctuations and is considered to be less risky than FUTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KAPR	FUTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.50%	5.26%	-2.76%
Volatility (6M) Calculated over the trailing 6-month period	4.56%	11.58%	-7.02%
Volatility (1Y) Calculated over the trailing 1-year period	6.70%	14.47%	-7.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.76%	17.06%	-5.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.65%	19.08%	-7.43%

KAPR vs. FUTY - Expense Ratio Comparison

KAPR has a 0.79% expense ratio, which is higher than FUTY's 0.08% expense ratio.

Dividends

KAPR vs. FUTY - Dividend Comparison

KAPR has not paid dividends to shareholders, while FUTY's dividend yield for the trailing twelve months is around 2.62%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FUTY Fidelity MSCI Utilities Index ETF	2.62%	2.67%	2.96%	3.31%	2.72%	2.70%	3.07%	2.82%	3.11%	3.03%	3.35%	4.33%
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%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KAPR and FUTY in my portfolio?

KAPR and FUTY have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KAPR or FUTY?

FUTY has higher volatility (5.26%) compared to KAPR (2.50%). In terms of maximum drawdown, KAPR dropped -16.91% vs FUTY's -36.44%.

Which ETF is better, KAPR or FUTY?

On 5-year performance, FUTY leads with 10.21% vs 7.40% for KAPR. On fees, FUTY is cheaper at 0.08% per year. On volatility, KAPR has been the lower-risk option at 2.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KAPR or FUTY?

Over the 5-year period, FUTY has performed better with a 10.21% return vs 7.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KAPR or FUTY?

FUTY is cheaper with a 0.08% expense ratio, compared with 0.79% for KAPR.

Which ETF pays a higher dividend yield, KAPR or FUTY?

FUTY has the higher dividend yield at 2.62%, compared with 0.00% for KAPR.

What is the main difference between KAPR and FUTY?

KAPR is categorized as Defined Outcome, while FUTY is Utilities Equities. KAPR tracks Russell 2000 Index, while FUTY tracks MSCI USA IMI Utilities Index. They also come from different issuers: Innovator and Fidelity. Their fees differ too: 0.79% for KAPR and 0.08% for FUTY.

Which has better risk-adjusted returns?

KAPR currently has the higher Sharpe Ratio (3.65 vs 1.01), 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.