KAPR vs. QB

Last updated Jul 14, 2026

KAPR (Innovator Russell 2000 Power Buffer ETF - April) and QB (ProShares Nasdaq-100 Dynamic Daily Buffer ETF) are both Defined Outcome funds - KAPR tracks the Russell 2000 Index while QB tracks the Nasdaq-100. Both are passively managed. Over the past year, KAPR returned 20.87% vs 18.28% for QB. A 0.57 correlation means they provide meaningful diversification when combined. KAPR charges 0.79%/yr vs 0.58%/yr for QB.

Performance

KAPR vs. QB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Russell 2000 Power Buffer ETF - April (KAPR) and ProShares Nasdaq-100 Dynamic Daily Buffer ETF (QB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with KAPR having a 12.71% return and QB slightly lower at 12.15%.

KAPR

• 1D: -0.39%
• 1M: 0.83%
• 6M: 11.41%
• YTD: 12.71%
• 1Y: 20.87%
• 3Y*: 12.42%
• 5Y*: 7.95%
• 10Y*: —

QB

• 1D: -0.14%
• 1M: 3.02%
• 6M: 10.85%
• YTD: 12.15%
• 1Y: 18.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KAPR vs. QB - Yearly Performance Comparison

	2026 (YTD)	2025
KAPR Innovator Russell 2000 Power Buffer ETF - April	12.71%	9.42%
QB ProShares Nasdaq-100 Dynamic Daily Buffer ETF	12.15%	6.10%

Correlation

The correlation between KAPR and QB is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.58
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.57

The correlation between KAPR and QB has been stable across timeframes, ranging from 0.57 to 0.58 - a consistent structural relationship.

KAPR vs. QB - Sectors Allocation Comparison

Sectors	KAPR	QB
Technology	19.1%	49.9%
Industrials	17.9%	3.7%
Healthcare	16.2%	5.3%
Financial Services	15.5%	0.2%
Consumer Cyclical	8.0%	12.5%
Real Estate	5.9%	0.1%
Energy	5.5%	0.6%
Basic Materials	4.6%	1.3%
Utilities	2.8%	1.6%
Communication Services	2.4%	16.4%
Consumer Defensive	2.3%	8.6%

Return for Risk

KAPR vs. QB — Risk / Return Rank

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

KAPR

KAPR Risk / Return Rank: 97
KAPR Sharpe Ratio Rank: 96
KAPR Sortino Ratio Rank: 97
KAPR Omega Ratio Rank: 96
KAPR Calmar Ratio Rank: 97
KAPR Martin Ratio Rank: 98

QB

QB Risk / Return Rank: 94
QB Sharpe Ratio Rank: 93
QB Sortino Ratio Rank: 94
QB Omega Ratio Rank: 95
QB Calmar Ratio Rank: 93
QB Martin Ratio Rank: 96

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. QB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Russell 2000 Power Buffer ETF - April (KAPR) and ProShares Nasdaq-100 Dynamic Daily Buffer ETF (QB). 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	QB	Difference
Sharpe ratio: Return per unit of total volatility	3.20	2.62	+0.58
Sortino ratio: Return per unit of downside risk	5.00	3.81	+1.19
Omega ratio: Gain probability vs. loss probability	1.67	1.62	+0.05
Calmar ratio: Return relative to maximum drawdown	8.33	5.28	+3.05
Martin ratio: Return relative to average drawdown	39.37	25.48	+13.89

KAPR vs. QB - Sharpe Ratio Comparison

The current KAPR Sharpe Ratio is 3.20, which is comparable to the QB Sharpe Ratio of 2.62. The chart below compares the historical Sharpe Ratios of KAPR and QB, 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. QB - Drawdown Comparison

The maximum KAPR drawdown since its inception was -16.91%, which is greater than QB's maximum drawdown of -3.47%. Use the drawdown chart below to compare losses from any high point for KAPR and QB.

Drawdown Indicators

	KAPR	QB	Difference
Max Drawdown Largest peak-to-trough decline	-16.91%	-3.47%	-13.44%
Max Drawdown (1Y) Largest decline over 1 year	-2.52%	-3.47%	+0.95%
Max Drawdown (3Y) Largest decline over 3 years	-16.84%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-16.91%	—	—
Current Drawdown Current decline from peak	-0.56%	-0.31%	-0.25%
Average Drawdown Average peak-to-trough decline	-3.86%	-0.42%	-3.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.53%	0.72%	-0.19%

Volatility

KAPR vs. QB - Volatility Comparison

The current volatility for Innovator Russell 2000 Power Buffer ETF - April (KAPR) is 1.89%, while ProShares Nasdaq-100 Dynamic Daily Buffer ETF (QB) has a volatility of 3.05%. This indicates that KAPR experiences smaller price fluctuations and is considered to be less risky than QB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KAPR	QB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.89%	3.05%	-1.16%
Volatility (6M) Calculated over the trailing 6-month period	4.64%	5.83%	-1.19%
Volatility (1Y) Calculated over the trailing 1-year period	6.57%	7.03%	-0.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.74%	6.93%	+4.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.60%	6.93%	+4.67%

KAPR vs. QB - Expense Ratio Comparison

KAPR has a 0.79% expense ratio, which is higher than QB's 0.58% expense ratio.

Dividends

KAPR vs. QB - Dividend Comparison

KAPR has not paid dividends to shareholders, while QB's dividend yield for the trailing twelve months is around 0.78%.

Position	TTM	2025
KAPR Innovator Russell 2000 Power Buffer ETF - April	0.00%	0.00%
QB ProShares Nasdaq-100 Dynamic Daily Buffer ETF	0.78%	0.48%

Frequently Asked Questions

Can I hold both KAPR and QB in my portfolio?

KAPR and QB have a correlation of 0.58, 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 QB?

QB has higher volatility (3.05%) compared to KAPR (1.89%). In terms of maximum drawdown, KAPR dropped -16.91% vs QB's -3.47%.

Which ETF is better, KAPR or QB?

On 1-year performance, KAPR leads with 20.87% vs 18.28% for QB. On fees, QB is cheaper at 0.58% per year. On volatility, KAPR has been the lower-risk option at 1.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KAPR or QB?

Over the 1-year period, KAPR has performed better with a 20.87% return vs 18.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KAPR or QB?

QB is cheaper with a 0.58% expense ratio, compared with 0.79% for KAPR.

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

QB has the higher dividend yield at 0.78%, compared with 0.00% for KAPR.

What is the main difference between KAPR and QB?

KAPR tracks Russell 2000 Index, while QB tracks Nasdaq-100. They also come from different issuers: Innovator and ProShares. Their fees differ too: 0.79% for KAPR and 0.58% for QB.

Which has better risk-adjusted returns?

KAPR currently has the higher Sharpe Ratio (3.20 vs 2.62), 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.