KDEC vs. KMAR

Last updated Jun 25, 2026

KDEC (Innovator U.S. Small Cap Power Buffer ETF - December) and KMAR (Innovator U.S. Small Cap Power Buffer ETF - March) are both Defined Outcome funds from Innovator. KDEC is actively managed, while KMAR is passively managed. Over the past year, KDEC returned 17.67% vs 23.23% for KMAR. Their correlation of 0.95 suggests significant overlap in exposure. Both charge a 0.79% expense ratio.

Performance

KDEC vs. KMAR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Small Cap Power Buffer ETF - December (KDEC) and Innovator U.S. Small Cap Power Buffer ETF - March (KMAR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KDEC achieves a 10.38% return, which is significantly lower than KMAR's 11.31% return.

KDEC

• 1D: 0.22%
• 1M: 1.89%
• YTD: 10.38%
• 6M: 8.94%
• 1Y: 17.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

KMAR

• 1D: 0.23%
• 1M: 1.99%
• YTD: 11.31%
• 6M: 10.34%
• 1Y: 23.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KDEC vs. KMAR - Yearly Performance Comparison

	2026 (YTD)	2025
KDEC Innovator U.S. Small Cap Power Buffer ETF - December	10.38%	7.68%
KMAR Innovator U.S. Small Cap Power Buffer ETF - March	11.31%	11.45%

Correlation

The correlation between KDEC and KMAR is 0.93, 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	0.93
Correlation (All Time) Calculated using the full available price history since Mar 3, 2025	0.95

The correlation between KDEC and KMAR has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

Return for Risk

KDEC vs. KMAR — Risk / Return Rank

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

KDEC

KDEC Risk / Return Rank: 68
KDEC Sharpe Ratio Rank: 66
KDEC Sortino Ratio Rank: 69
KDEC Omega Ratio Rank: 62
KDEC Calmar Ratio Rank: 75
KDEC Martin Ratio Rank: 69

KMAR

KMAR Risk / Return Rank: 89
KMAR Sharpe Ratio Rank: 87
KMAR Sortino Ratio Rank: 90
KMAR Omega Ratio Rank: 87
KMAR Calmar Ratio Rank: 90
KMAR 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.

KDEC vs. KMAR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Small Cap Power Buffer ETF - December (KDEC) 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.

	KDEC	KMAR	Difference
Sharpe ratio: Return per unit of total volatility	1.86	2.48	-0.62
Sortino ratio: Return per unit of downside risk	2.72	3.61	-0.88
Omega ratio: Gain probability vs. loss probability	1.33	1.46	-0.13
Calmar ratio: Return relative to maximum drawdown	3.30	4.77	-1.47
Martin ratio: Return relative to average drawdown	10.87	19.52	-8.65

KDEC vs. KMAR - Sharpe Ratio Comparison

The current KDEC Sharpe Ratio is 1.86, which is comparable to the KMAR Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of KDEC and KMAR, 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

KDEC vs. KMAR - Drawdown Comparison

The maximum KDEC drawdown since its inception was -16.52%, which is greater than KMAR's maximum drawdown of -11.32%. Use the drawdown chart below to compare losses from any high point for KDEC and KMAR.

Drawdown Indicators

	KDEC	KMAR	Difference
Max Drawdown Largest peak-to-trough decline	-16.52%	-11.32%	-5.20%
Max Drawdown (1Y) Largest decline over 1 year	-5.38%	-4.89%	-0.49%
Current Drawdown Current decline from peak	-0.13%	-0.30%	+0.17%
Average Drawdown Average peak-to-trough decline	-2.95%	-1.34%	-1.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.63%	1.19%	+0.44%

Volatility

KDEC vs. KMAR - Volatility Comparison

The current volatility for Innovator U.S. Small Cap Power Buffer ETF - December (KDEC) is 2.26%, while Innovator U.S. Small Cap Power Buffer ETF - March (KMAR) has a volatility of 2.99%. This indicates that KDEC 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.

Volatility by Period

	KDEC	KMAR	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.26%	2.99%	-0.73%
Volatility (6M) Calculated over the trailing 6-month period	6.72%	6.72%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	9.55%	9.44%	+0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.26%	12.15%	+0.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.26%	12.15%	+0.11%

KDEC vs. KMAR - Expense Ratio Comparison

Both KDEC and KMAR have an expense ratio of 0.79%.

Dividends

KDEC vs. KMAR - Dividend Comparison

Neither KDEC nor KMAR has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both KDEC and KMAR in my portfolio?

With a correlation of 0.93, KDEC 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.

Which is riskier, KDEC or KMAR?

KMAR has higher volatility (2.99%) compared to KDEC (2.26%). In terms of maximum drawdown, KDEC dropped -16.52% vs KMAR's -11.32%.

Which ETF is better, KDEC or KMAR?

On 1-year performance, KMAR leads with 23.23% vs 17.67% for KDEC. Both ETFs have the same 0.79% expense ratio. On volatility, KDEC has been the lower-risk option at 2.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KDEC or KMAR?

Over the 1-year period, KMAR has performed better with a 23.23% return vs 17.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KDEC or KMAR?

KDEC and KMAR have the same expense ratio: 0.79% per year.

Which ETF pays a higher dividend yield, KDEC or KMAR?

KDEC and KMAR have nearly identical dividend yields, around 0.00%.

Which has better risk-adjusted returns?

KMAR currently has the higher Sharpe Ratio (2.48 vs 1.86), 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.