KMAY vs. OCTB

Last updated Aug 5, 2026

KMAY (Innovator U.S. Small Cap Power Buffer ETF - May) and OCTB (Aptus October Buffer ETF) are both Defined Outcome funds. Both are actively managed. Their 0.75 correlation means they have sometimes moved together and sometimes differently. KMAY charges 0.79%/yr vs 0.25%/yr for OCTB.

Performance

KMAY vs. OCTB - 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 Aptus October Buffer ETF (OCTB). 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 OCTB slightly lower at 8.32%.

KMAY

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

OCTB

• 1D: 0.53%
• 1M: 1.84%
• 6M: 7.69%
• YTD: 8.32%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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)
KMAY Innovator U.S. Small Cap Power Buffer ETF - May	$124.50K	$270.14K	$883.03K
OCTB Aptus October Buffer ETF	$307.48K	$192.02K	$108.63K

KMAY vs. OCTB - Yearly Performance Comparison

	2026 (YTD)	2025
KMAY Innovator U.S. Small Cap Power Buffer ETF - May	8.49%	2.14%
OCTB Aptus October Buffer ETF	8.32%	2.37%

Correlation

The correlation between KMAY and OCTB is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 14, 2025	0.75

Return for Risk

KMAY vs. OCTB — 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

OCTB

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. OCTB - 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 Aptus October Buffer ETF (OCTB). 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	OCTB	Difference
Sharpe ratio: Return per unit of total volatility	2.44	—	—
Sortino ratio: Return per unit of downside risk	3.71	—	—
Omega ratio: Gain probability vs. loss probability	1.51	—	—
Calmar ratio: Return relative to maximum drawdown	6.69	—	—
Martin ratio: Return relative to average drawdown	27.32	—	—

Drawdowns

KMAY vs. OCTB - Drawdown Comparison

The maximum KMAY drawdown since its inception was -2.38%, smaller than the maximum OCTB drawdown of -4.79%. Use the drawdown chart below to compare losses from any high point for KMAY and OCTB.

Drawdown Indicators

	KMAY	OCTB	Difference
Max Drawdown Largest peak-to-trough decline	-2.38%	-4.79%	+2.41%
Max Drawdown (1Y) Largest decline over 1 year	-2.38%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.37%	-0.65%	+0.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.58%	—	—

Volatility

Volatility by Period

	KMAY	OCTB	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.14%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.26%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	6.56%	7.15%	-0.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.95%	7.15%	-0.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.95%	7.15%	-0.20%

KMAY vs. OCTB - Expense Ratio Comparison

KMAY has a 0.79% expense ratio, which is higher than OCTB's 0.25% expense ratio.

Dividends

KMAY vs. OCTB - Dividend Comparison

Neither KMAY nor OCTB has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both KMAY and OCTB in my portfolio?

KMAY and OCTB have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, KMAY or OCTB?

On fees, OCTB is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, KMAY or OCTB?

OCTB is cheaper with a 0.25% expense ratio, compared with 0.79% for KMAY.

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

KMAY and OCTB have nearly identical dividend yields, around 0.00%.

What is the main difference between KMAY and OCTB?

They also come from different issuers: Innovator and Aptus. Their fees differ too: 0.79% for KMAY and 0.25% for OCTB.