KMAY vs. EDGH

Last updated Aug 5, 2026

KMAY (Innovator U.S. Small Cap Power Buffer ETF - May) and EDGH (3EDGE Dynamic Hard Assets ETF) are both exchange-traded funds - KMAY is a Defined Outcome fund actively managed by Innovator, while EDGH is a Commodities fund actively managed by 3EDGE Asset Management. Both are actively managed. Over the past year, KMAY returned 15.83% vs 25.67% for EDGH. Their 0.05 correlation means their historical movements had little consistent relationship. KMAY charges 0.79%/yr vs 1.01%/yr for EDGH.

Performance

KMAY vs. EDGH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Small Cap Power Buffer ETF - May (KMAY) and 3EDGE Dynamic Hard Assets ETF (EDGH). 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 KMAY having a 8.49% return and EDGH slightly lower at 8.18%.

KMAY

• 1D: 0.94%
• 1M: 1.26%
• 6M: 7.06%
• YTD: 8.49%
• 1Y: 15.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.49%

EDGH

• 1D: 0.06%
• 1M: 2.44%
• 6M: 0.80%
• YTD: 8.18%
• 1Y: 25.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.62%

*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)
EDGH 3EDGE Dynamic Hard Assets ETF	$717.95K	$2.12M	$1.36M
KMAY Innovator U.S. Small Cap Power Buffer ETF - May	$124.50K	$270.14K	$883.03K

KMAY vs. EDGH - Yearly Performance Comparison

	2026 (YTD)	2025
KMAY Innovator U.S. Small Cap Power Buffer ETF - May	8.49%	14.13%
EDGH 3EDGE Dynamic Hard Assets ETF	8.18%	17.64%

Correlation

The correlation between KMAY and EDGH is 0.15, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.15
Correlation (All Time) Calculated using the full available price history since May 1, 2025	0.05

Return for Risk

KMAY vs. EDGH — Risk / Return Rank

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

KMAY

KMAY Risk / Return Rank: 94
KMAY Sharpe Ratio Rank: 90
KMAY Sortino Ratio Rank: 92
KMAY Omega Ratio Rank: 93
KMAY Calmar Ratio Rank: 96
KMAY Martin Ratio Rank: 96

EDGH

EDGH Risk / Return Rank: 49
EDGH Sharpe Ratio Rank: 50
EDGH Sortino Ratio Rank: 43
EDGH Omega Ratio Rank: 56
EDGH Calmar Ratio Rank: 51
EDGH Martin Ratio Rank: 43

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.

KMAY vs. EDGH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Small Cap Power Buffer ETF - May (KMAY) and 3EDGE Dynamic Hard Assets ETF (EDGH). 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.

	KMAY	EDGH	Difference
Sharpe ratio: Return per unit of total volatility	2.44	1.41	+1.03
Sortino ratio: Return per unit of downside risk	3.71	1.78	+1.93
Omega ratio: Gain probability vs. loss probability	1.51	1.28	+0.22
Calmar ratio: Return relative to maximum drawdown	6.69	2.07	+4.62
Martin ratio: Return relative to average drawdown	27.32	5.30	+22.02

KMAY vs. EDGH - Sharpe Ratio Comparison

The current KMAY Sharpe Ratio is 2.44, which is higher than the EDGH Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of KMAY and EDGH, 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

KMAY vs. EDGH - Drawdown Comparison

The maximum KMAY drawdown since its inception was -2.38%, smaller than the maximum EDGH drawdown of -12.47%. Use the drawdown chart below to compare losses from any high point for KMAY and EDGH.

Drawdown Indicators

	KMAY	EDGH	Difference
Max Drawdown Largest peak-to-trough decline	-2.38%	-12.47%	+10.09%
Max Drawdown (1Y) Largest decline over 1 year	-2.38%	-12.47%	+10.09%
Current Drawdown Current decline from peak	0.00%	-8.44%	+8.44%
Average Drawdown Average peak-to-trough decline	-0.37%	-2.67%	+2.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.58%	4.85%	-4.27%

Volatility

KMAY vs. EDGH - Volatility Comparison

The current volatility for Innovator U.S. Small Cap Power Buffer ETF - May (KMAY) is 2.14%, while 3EDGE Dynamic Hard Assets ETF (EDGH) has a volatility of 3.03%. This indicates that KMAY experiences smaller price fluctuations and is considered to be less risky than EDGH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KMAY	EDGH	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.14%	3.03%	-0.89%
Volatility (6M) Calculated over the trailing 6-month period	5.26%	11.83%	-6.57%
Volatility (1Y) Calculated over the trailing 1-year period	6.56%	18.27%	-11.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.95%	15.43%	-8.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.95%	15.43%	-8.48%

KMAY vs. EDGH - Expense Ratio Comparison

KMAY has a 0.79% expense ratio, which is lower than EDGH's 1.01% expense ratio.

Dividends

KMAY vs. EDGH - Dividend Comparison

KMAY has not paid dividends to shareholders, while EDGH's dividend yield for the trailing twelve months is around 1.09%.

Position	TTM	2025	2024
EDGH 3EDGE Dynamic Hard Assets ETF	1.09%	1.18%	3.19%
KMAY Innovator U.S. Small Cap Power Buffer ETF - May	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KMAY and EDGH in my portfolio?

KMAY and EDGH have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KMAY or EDGH?

EDGH has higher volatility (3.03%) compared to KMAY (2.14%). In terms of maximum drawdown, KMAY dropped -2.38% vs EDGH's -12.47%.

Which ETF is better, KMAY or EDGH?

On 1-year performance, EDGH leads with 25.67% vs 15.83% for KMAY. On fees, KMAY is cheaper at 0.79% per year. On volatility, KMAY has been the lower-risk option at 2.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KMAY or EDGH?

Over the 1-year period, EDGH has performed better with a 25.67% return vs 15.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KMAY or EDGH?

KMAY is cheaper with a 0.79% expense ratio, compared with 1.01% for EDGH.

Which ETF pays a higher dividend yield, KMAY or EDGH?

EDGH has the higher dividend yield at 1.09%, compared with 0.00% for KMAY.

What is the main difference between KMAY and EDGH?

KMAY is categorized as Defined Outcome, while EDGH is Commodities. They also come from different issuers: Innovator and 3EDGE Asset Management. Their fees differ too: 0.79% for KMAY and 1.01% for EDGH.

Which has better risk-adjusted returns?

KMAY currently has the higher Sharpe Ratio (2.44 vs 1.41), 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.