KAPR vs. XTAP

Last updated Aug 1, 2026

KAPR (Innovator Russell 2000 Power Buffer ETF - April) and XTAP (Innovator U.S. Equity Accelerated Plus ETF) are both exchange-traded funds - KAPR is a Defined Outcome fund tracking the Russell 2000 Index, while XTAP is a Leveraged Equities fund actively managed by Innovator. KAPR is passively managed, while XTAP is actively managed. Over the past 5 years, KAPR returned 7.81%/yr vs 10.76%/yr for XTAP. Their 0.75 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.79% expense ratio.

Performance

KAPR vs. XTAP - 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 U.S. Equity Accelerated Plus ETF (XTAP). 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 13.09% return and XTAP slightly lower at 12.47%.

KAPR

• 1D: -0.03%
• 1M: 0.08%
• 6M: 11.66%
• YTD: 13.09%
• 1Y: 22.54%
• 3Y*: 12.02%
• 5Y*: 7.81%
• 10Y*: —
• ALL TIME*: 9.28%

XTAP

• 1D: 0.47%
• 1M: 1.02%
• 6M: 11.93%
• YTD: 12.47%
• 1Y: 19.11%
• 3Y*: 16.76%
• 5Y*: 10.76%
• 10Y*: —
• ALL TIME*: 11.50%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
KAPR Innovator Russell 2000 Power Buffer ETF - April	$147.78K	$281.73K	$305.41K
XTAP Innovator U.S. Equity Accelerated Plus ETF	$36.55K	$24.82K	$30.58K

KAPR vs. XTAP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
KAPR Innovator Russell 2000 Power Buffer ETF - April	13.09%	7.42%	12.10%	15.36%	-8.14%	1.66%
XTAP Innovator U.S. Equity Accelerated Plus ETF	12.47%	17.58%	14.26%	23.46%	-14.68%	12.26%

Correlation

The correlation between KAPR and XTAP is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.76
Correlation (3Y) Balances recent behavior with more history.	0.68
Correlation (5Y) Shows whether the relationship held over a longer period.	0.75
Correlation (All Time) Calculated using the full available price history since Apr 1, 2021	0.75

The correlation between KAPR and XTAP has been stable across timeframes, ranging from 0.68 to 0.76 - a consistent structural relationship.

KAPR vs. XTAP - Sectors Allocation Comparison

Sectors	KAPR	XTAP
Healthcare	20.3%	8.3%
Financial Services	17.6%	10.9%
Technology	14.5%	39.1%
Industrials	14.1%	7.8%
Consumer Cyclical	9.2%	9.9%
Real Estate	6.7%	1.8%
Energy	5.5%	3.1%
Basic Materials	4.4%	1.7%
Utilities	2.8%	2.1%
Consumer Defensive	2.6%	4.5%
Communication Services	2.2%	10.7%

Return for Risk

KAPR vs. XTAP — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

KAPR

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

XTAP

XTAP Risk / Return Rank: 98
XTAP Sharpe Ratio Rank: 98
XTAP Sortino Ratio Rank: 98
XTAP Omega Ratio Rank: 98
XTAP Calmar Ratio Rank: 98
XTAP Martin Ratio Rank: 98

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

KAPR vs. XTAP - 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. Equity Accelerated Plus ETF (XTAP). 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	XTAP	Difference
Sharpe ratio: Return per unit of total volatility	3.28	3.73	-0.45
Sortino ratio: Return per unit of downside risk	5.14	6.04	-0.90
Omega ratio: Gain probability vs. loss probability	1.70	1.92	-0.22
Calmar ratio: Return relative to maximum drawdown	8.50	10.71	-2.20
Martin ratio: Return relative to average drawdown	42.63	54.76	-12.13

KAPR vs. XTAP - Sharpe Ratio Comparison

The current KAPR Sharpe Ratio is 3.28, which is comparable to the XTAP Sharpe Ratio of 3.73. The chart below compares the historical Sharpe Ratios of KAPR and XTAP, 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. XTAP - Drawdown Comparison

The maximum KAPR drawdown since its inception was -16.91%, smaller than the maximum XTAP drawdown of -22.13%. Use the drawdown chart below to compare losses from any high point for KAPR and XTAP.

Drawdown Indicators

	KAPR	XTAP	Difference
Max Drawdown Largest peak-to-trough decline	-16.91%	-22.13%	+5.22%
Max Drawdown (1Y) Largest decline over 1 year	-2.52%	-1.72%	-0.80%
Max Drawdown (3Y) Largest decline over 3 years	-16.84%	-11.83%	-5.01%
Max Drawdown (5Y) Largest decline over 5 years	-16.91%	-22.13%	+5.22%
Current Drawdown Current decline from peak	-0.36%	0.00%	-0.36%
Average Drawdown Average peak-to-trough decline	-3.83%	-3.36%	-0.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.50%	0.34%	+0.16%

Volatility

KAPR vs. XTAP - Volatility Comparison

The current volatility for Innovator Russell 2000 Power Buffer ETF - April (KAPR) is 1.52%, while Innovator U.S. Equity Accelerated Plus ETF (XTAP) has a volatility of 1.60%. This indicates that KAPR experiences smaller price fluctuations and is considered to be less risky than XTAP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KAPR	XTAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.52%	1.60%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	4.77%	4.02%	+0.75%
Volatility (1Y) Calculated over the trailing 1-year period	6.53%	4.93%	+1.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.69%	14.53%	-2.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.56%	14.23%	-2.67%

KAPR vs. XTAP - Expense Ratio Comparison

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

Dividends

KAPR vs. XTAP - Dividend Comparison

Neither KAPR nor XTAP has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both KAPR and XTAP in my portfolio?

KAPR and XTAP have a correlation of 0.76, 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 XTAP?

XTAP has higher volatility (1.60%) compared to KAPR (1.52%). In terms of maximum drawdown, KAPR dropped -16.91% vs XTAP's -22.13%.

Which ETF is better, KAPR or XTAP?

On 5-year performance, XTAP leads with 10.76% vs 7.81% for KAPR. Both ETFs have the same 0.79% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KAPR or XTAP?

Over the 5-year period, XTAP has performed better with a 10.76% return vs 7.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KAPR or XTAP?

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

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

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

What is the main difference between KAPR and XTAP?

KAPR is categorized as Defined Outcome, while XTAP is Leveraged Equities.

Which has better risk-adjusted returns?

XTAP currently has the higher Sharpe Ratio (3.73 vs 3.28), 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.