KAPR vs. KMAR
KAPR (Innovator Russell 2000 Power Buffer ETF - April) and KMAR (Innovator U.S. Small Cap Power Buffer ETF - March) are both Defined Outcome funds from Innovator - KAPR tracks the Russell 2000 Index while KMAR tracks the iShares Russell 2000 ETF (IWM) Price Return. Both are passively managed. Over the past year, KAPR returned 23.29% vs 23.93% for KMAR. Their correlation of 0.93 suggests significant overlap in exposure. Both charge a 0.79% expense ratio.
Performance
KAPR vs. KMAR - Performance Comparison
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Returns By Period
In the year-to-date period, KAPR achieves a 12.34% return, which is significantly higher than KMAR's 11.04% return.
KAPR
- 1D
- -0.37%
- 1M
- 1.73%
- YTD
- 12.34%
- 6M
- 12.09%
- 1Y
- 23.29%
- 3Y*
- 13.56%
- 5Y*
- 7.23%
- 10Y*
- —
KMAR
- 1D
- -0.53%
- 1M
- 1.75%
- YTD
- 11.04%
- 6M
- 10.16%
- 1Y
- 23.93%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
KAPR vs. KMAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
KAPR Innovator Russell 2000 Power Buffer ETF - April | 12.34% | 10.02% |
KMAR Innovator U.S. Small Cap Power Buffer ETF - March | 11.04% | 11.45% |
Correlation
The correlation between KAPR and KMAR is 0.92, 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 | 0.92 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2025 | 0.93 |
The correlation between KAPR and KMAR has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.
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Return for Risk
KAPR vs. KMAR — Risk / Return Rank
KAPR
KMAR
KAPR vs. KMAR - 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 U.S. Small Cap Power Buffer ETF - March (KMAR). 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 | KMAR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.95 | ||
| Sortino ratioReturn per unit of downside risk | +1.73 | ||
| Omega ratioGain probability vs. loss probability | 1.73 | 1.47 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 9.30 | 4.91 | +4.39 |
| Martin ratioReturn relative to average drawdown | 43.60 | 20.10 | +23.50 |
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Drawdowns
KAPR vs. KMAR - Drawdown Comparison
The maximum KAPR drawdown since its inception was -16.91%, which is greater than KMAR's maximum drawdown of -11.32%. Use the drawdown chart below to compare losses from any high point for KAPR and KMAR.
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Drawdown Indicators
| KAPR | KMAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.91% | -11.32% | -5.59% |
Max Drawdown (1Y)Largest decline over 1 year | -2.52% | -4.89% | +2.37% |
Max Drawdown (3Y)Largest decline over 3 years | -16.84% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -16.91% | — | — |
Current DrawdownCurrent decline from peak | -0.37% | -0.53% | +0.16% |
Average DrawdownAverage peak-to-trough decline | -3.89% | -1.34% | -2.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.54% | 1.19% | -0.65% |
Volatility
KAPR vs. KMAR - Volatility Comparison
The current volatility for Innovator Russell 2000 Power Buffer ETF - April (KAPR) is 2.53%, while Innovator U.S. Small Cap Power Buffer ETF - March (KMAR) has a volatility of 3.00%. This indicates that KAPR experiences smaller price fluctuations and is considered to be less risky than KMAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KAPR | KMAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.53% | 3.00% | -0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 4.57% | 6.73% | -2.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.70% | 9.45% | -2.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.76% | 12.16% | -0.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.65% | 12.16% | -0.51% |
KAPR vs. KMAR - Expense Ratio Comparison
Both KAPR and KMAR have an expense ratio of 0.79%.
Dividends
KAPR vs. KMAR - Dividend Comparison
Neither KAPR nor KMAR has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.92, KAPR and KMAR move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
KMAR has higher volatility (3.00%) compared to KAPR (2.53%). In terms of maximum drawdown, KAPR dropped -16.91% vs KMAR's -11.32%.
On 1-year performance, KMAR leads with 23.93% vs 23.29% for KAPR. Both ETFs have the same 0.79% expense ratio. On volatility, KAPR has been the lower-risk option at 2.53%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, KMAR has performed better with a 23.93% return vs 23.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KAPR and KMAR have the same expense ratio: 0.79% per year.
KAPR and KMAR have nearly identical dividend yields, around 0.00%.
KAPR tracks Russell 2000 Index, while KMAR tracks iShares Russell 2000 ETF (IWM) Price Return.
KAPR currently has the higher Sharpe Ratio (3.50 vs 2.55), 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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