KAPR vs. KJUL

Last updated Jun 24, 2026

KAPR (Innovator Russell 2000 Power Buffer ETF - April) and KJUL (Innovator Russell 2000 Power Buffer ETF - July) are both Defined Outcome funds from Innovator - KAPR tracks the Russell 2000 Index while KJUL tracks the iShares Russell 2000 ETF. Both are passively managed. Over the past 5 years, KAPR returned 7.23%/yr vs 5.01%/yr for KJUL. Their correlation of 0.90 suggests significant overlap in exposure. Both charge a 0.79% expense ratio.

Performance

KAPR vs. KJUL - 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 Russell 2000 Power Buffer ETF - July (KJUL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KAPR achieves a 12.34% return, which is significantly higher than KJUL's 6.94% return.

KAPR

• 1D: -0.37%
• 1M: 1.73%
• YTD: 12.34%
• 6M: 12.09%
• 1Y: 23.29%
• 3Y*: 13.56%
• 5Y*: 7.23%
• 10Y*: —

KJUL

• 1D: 0.03%
• 1M: 0.80%
• YTD: 6.94%
• 6M: 6.28%
• 1Y: 18.43%
• 3Y*: 11.12%
• 5Y*: 5.01%
• 10Y*: —

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

KAPR vs. KJUL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
KAPR Innovator Russell 2000 Power Buffer ETF - April	12.34%	7.42%	12.10%	15.36%	-8.14%	2.48%	6.50%
KJUL Innovator Russell 2000 Power Buffer ETF - July	6.94%	7.70%	8.69%	11.78%	-8.44%	2.51%	10.84%

Correlation

The correlation between KAPR and KJUL is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jul 1, 2020	0.90

The correlation between KAPR and KJUL has been stable across timeframes, ranging from 0.84 to 0.93 - a consistent structural relationship.

KAPR vs. KJUL - Sectors Allocation Comparison

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

Return for Risk

KAPR vs. KJUL — 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

KJUL

KJUL Risk / Return Rank: 88
KJUL Sharpe Ratio Rank: 82
KJUL Sortino Ratio Rank: 87
KJUL Omega Ratio Rank: 87
KJUL Calmar Ratio Rank: 91
KJUL 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. KJUL - 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 Russell 2000 Power Buffer ETF - July (KJUL). 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	KJUL	Difference
Sharpe ratio: Return per unit of total volatility	3.50	2.40	+1.10
Sortino ratio: Return per unit of downside risk	5.43	3.60	+1.84
Omega ratio: Gain probability vs. loss probability	1.73	1.48	+0.25
Calmar ratio: Return relative to maximum drawdown	9.30	5.41	+3.89
Martin ratio: Return relative to average drawdown	43.60	20.98	+22.61

KAPR vs. KJUL - Sharpe Ratio Comparison

The current KAPR Sharpe Ratio is 3.50, which is higher than the KJUL Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of KAPR and KJUL, 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. KJUL - Drawdown Comparison

The maximum KAPR drawdown since its inception was -16.91%, roughly equal to the maximum KJUL drawdown of -16.69%. Use the drawdown chart below to compare losses from any high point for KAPR and KJUL.

Drawdown Indicators

	KAPR	KJUL	Difference
Max Drawdown Largest peak-to-trough decline	-16.91%	-16.69%	-0.22%
Max Drawdown (1Y) Largest decline over 1 year	-2.52%	-3.42%	+0.90%
Max Drawdown (3Y) Largest decline over 3 years	-16.84%	-14.45%	-2.39%
Max Drawdown (5Y) Largest decline over 5 years	-16.91%	-16.69%	-0.22%
Current Drawdown Current decline from peak	-0.37%	0.00%	-0.37%
Average Drawdown Average peak-to-trough decline	-3.89%	-3.97%	+0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.54%	0.88%	-0.34%

Volatility

KAPR vs. KJUL - Volatility Comparison

Innovator Russell 2000 Power Buffer ETF - April (KAPR) has a higher volatility of 2.53% compared to Innovator Russell 2000 Power Buffer ETF - July (KJUL) at 0.40%. This indicates that KAPR's price experiences larger fluctuations and is considered to be riskier than KJUL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KAPR	KJUL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.53%	0.40%	+2.13%
Volatility (6M) Calculated over the trailing 6-month period	4.57%	4.60%	-0.03%
Volatility (1Y) Calculated over the trailing 1-year period	6.70%	7.75%	-1.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.76%	12.31%	-0.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.65%	11.62%	+0.03%

KAPR vs. KJUL - Expense Ratio Comparison

Both KAPR and KJUL have an expense ratio of 0.79%.

Dividends

KAPR vs. KJUL - Dividend Comparison

Neither KAPR nor KJUL has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both KAPR and KJUL in my portfolio?

KAPR and KJUL have a correlation of 0.84, 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 KJUL?

KAPR has higher volatility (2.53%) compared to KJUL (0.40%). In terms of maximum drawdown, KAPR dropped -16.91% vs KJUL's -16.69%.

Which ETF is better, KAPR or KJUL?

On 5-year performance, KAPR leads with 7.23% vs 5.01% for KJUL. Both ETFs have the same 0.79% expense ratio. On volatility, KJUL has been the lower-risk option at 0.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KAPR or KJUL?

Over the 5-year period, KAPR has performed better with a 7.23% return vs 5.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KAPR or KJUL?

KAPR and KJUL have the same expense ratio: 0.79% per year.

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

KAPR and KJUL have nearly identical dividend yields, around 0.00%.

What is the main difference between KAPR and KJUL?

KAPR tracks Russell 2000 Index, while KJUL tracks iShares Russell 2000 ETF.

Which has better risk-adjusted returns?

KAPR currently has the higher Sharpe Ratio (3.50 vs 2.40), 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.