KJUL vs. IAPR
KJUL (Innovator Russell 2000 Power Buffer ETF - July) and IAPR (Innovator International Developed Power Buffer ETF - April) are both Defined Outcome funds from Innovator - KJUL tracks the iShares Russell 2000 ETF while IAPR tracks the MSCI EAFE. Both are passively managed. Over the past 5 years, KJUL returned 4.93%/yr vs 5.03%/yr for IAPR. A 0.65 correlation means they provide meaningful diversification when combined. KJUL charges 0.79%/yr vs 0.85%/yr for IAPR.
Performance
KJUL vs. IAPR - Performance Comparison
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Returns By Period
In the year-to-date period, KJUL achieves a 6.53% return, which is significantly lower than IAPR's 6.91% return.
KJUL
- 1D
- -0.10%
- 1M
- 1.15%
- YTD
- 6.53%
- 6M
- 7.06%
- 1Y
- 18.66%
- 3Y*
- 10.66%
- 5Y*
- 4.93%
- 10Y*
- —
IAPR
- 1D
- -0.33%
- 1M
- 1.90%
- YTD
- 6.91%
- 6M
- 8.28%
- 1Y
- 14.08%
- 3Y*
- 10.13%
- 5Y*
- 5.03%
- 10Y*
- —
KJUL vs. IAPR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
KJUL Innovator Russell 2000 Power Buffer ETF - July | 6.53% | 7.70% | 8.69% | 11.78% | -8.44% | 0.16% |
IAPR Innovator International Developed Power Buffer ETF - April | 6.91% | 15.51% | 3.76% | 7.67% | -7.61% | 2.74% |
Correlation
The correlation between KJUL and IAPR is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2021 | 0.65 |
The correlation between KJUL and IAPR has been stable across timeframes, ranging from 0.64 to 0.66 - a consistent structural relationship.
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Return for Risk
KJUL vs. IAPR — Risk / Return Rank
KJUL
IAPR
KJUL vs. IAPR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Russell 2000 Power Buffer ETF - July (KJUL) and Innovator International Developed Power Buffer ETF - April (IAPR). 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.
| KJUL | IAPR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.23 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.43 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 5.47 | 5.51 | -0.04 |
| Martin ratioReturn relative to average drawdown | 20.24 | 21.30 | -1.07 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| KJUL | IAPR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.35 | 2.12 | +0.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.40 | 0.57 | -0.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 0.61 | -0.05 |
Drawdowns
KJUL vs. IAPR - Drawdown Comparison
The maximum KJUL drawdown since its inception was -16.69%, smaller than the maximum IAPR drawdown of -17.73%. Use the drawdown chart below to compare losses from any high point for KJUL and IAPR.
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Drawdown Indicators
| KJUL | IAPR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.69% | -17.73% | +1.04% |
Max Drawdown (1Y)Largest decline over 1 year | -3.42% | -2.56% | -0.86% |
Max Drawdown (3Y)Largest decline over 3 years | -14.45% | -9.46% | -4.99% |
Max Drawdown (5Y)Largest decline over 5 years | -16.69% | -17.73% | +1.04% |
Current DrawdownCurrent decline from peak | -0.10% | -0.41% | +0.31% |
Average DrawdownAverage peak-to-trough decline | -4.00% | -3.88% | -0.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 0.66% | +0.26% |
Volatility
KJUL vs. IAPR - Volatility Comparison
The current volatility for Innovator Russell 2000 Power Buffer ETF - July (KJUL) is 0.61%, while Innovator International Developed Power Buffer ETF - April (IAPR) has a volatility of 2.73%. This indicates that KJUL experiences smaller price fluctuations and is considered to be less risky than IAPR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KJUL | IAPR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.61% | 2.73% | -2.12% |
Volatility (6M)Calculated over the trailing 6-month period | 4.77% | 5.38% | -0.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.06% | 6.68% | +1.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.31% | 8.85% | +3.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.67% | 8.77% | +2.90% |
KJUL vs. IAPR - Expense Ratio Comparison
KJUL has a 0.79% expense ratio, which is lower than IAPR's 0.85% expense ratio.
Dividends
KJUL vs. IAPR - Dividend Comparison
Neither KJUL nor IAPR has paid dividends to shareholders.
Frequently Asked Questions
KJUL and IAPR have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IAPR has higher volatility (2.73%) compared to KJUL (0.61%). In terms of maximum drawdown, KJUL dropped -16.69% vs IAPR's -17.73%.
On 5-year performance, IAPR leads with 5.03% vs 4.93% for KJUL. On fees, KJUL is cheaper at 0.79% per year. On volatility, KJUL has been the lower-risk option at 0.61%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IAPR has performed better with a 5.03% return vs 4.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KJUL is cheaper with a 0.79% expense ratio, compared with 0.85% for IAPR.
KJUL and IAPR have nearly identical dividend yields, around 0.00%.
KJUL tracks iShares Russell 2000 ETF, while IAPR tracks MSCI EAFE. Their fees differ too: 0.79% for KJUL and 0.85% for IAPR.
KJUL currently has the higher Sharpe Ratio (2.35 vs 2.12), 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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