KMAY vs. POCT

Last updated Jun 4, 2026

KMAY (Innovator U.S. Small Cap Power Buffer ETF - May) and POCT (Innovator U.S. Equity Power Buffer ETF October) are both Defined Outcome funds from Innovator. KMAY is actively managed, while POCT is passively managed. Over the past year, KMAY returned 15.29% vs 14.36% for POCT. A 0.74 correlation means they provide meaningful diversification when combined. Both charge a 0.79% expense ratio.

Performance

KMAY vs. POCT - 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 Innovator U.S. Equity Power Buffer ETF October (POCT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KMAY achieves a 4.86% return, which is significantly lower than POCT's 5.33% return.

KMAY

• 1D: -0.66%
• 1M: 1.80%
• YTD: 4.86%
• 6M: 5.68%
• 1Y: 15.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

POCT

• 1D: -0.20%
• 1M: 2.01%
• YTD: 5.33%
• 6M: 5.92%
• 1Y: 14.36%
• 3Y*: 12.17%
• 5Y*: 9.82%
• 10Y*: —

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

KMAY vs. POCT - Yearly Performance Comparison

	2026 (YTD)	2025
KMAY Innovator U.S. Small Cap Power Buffer ETF - May	4.86%	13.83%
POCT Innovator U.S. Equity Power Buffer ETF October	5.33%	13.02%

Correlation

The correlation between KMAY and POCT is 0.73, 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	0.73
Correlation (All Time) Calculated using the full available price history since May 2, 2025	0.74

The correlation between KMAY and POCT has been stable across timeframes, ranging from 0.73 to 0.74 - a consistent structural relationship.

Return for Risk

KMAY vs. POCT — Risk / Return Rank

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

KMAY

KMAY Risk / Return Rank: 87
KMAY Sharpe Ratio Rank: 78
KMAY Sortino Ratio Rank: 86
KMAY Omega Ratio Rank: 85
KMAY Calmar Ratio Rank: 93
KMAY Martin Ratio Rank: 94

POCT

POCT Risk / Return Rank: 75
POCT Sharpe Ratio Rank: 71
POCT Sortino Ratio Rank: 74
POCT Omega Ratio Rank: 78
POCT Calmar Ratio Rank: 66
POCT Martin Ratio Rank: 83

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.

KMAY vs. POCT - 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 Innovator U.S. Equity Power Buffer ETF October (POCT). 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.

	KMAY	POCT	Difference
Sharpe ratio: Return per unit of total volatility	2.51	2.35	+0.16
Sortino ratio: Return per unit of downside risk	3.83	3.38	+0.45
Omega ratio: Gain probability vs. loss probability	1.51	1.47	+0.04
Calmar ratio: Return relative to maximum drawdown	6.46	3.28	+3.18
Martin ratio: Return relative to average drawdown	27.25	16.84	+10.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KMAY vs. POCT - Sharpe Ratio Comparison

The current KMAY Sharpe Ratio is 2.51, which is comparable to the POCT Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of KMAY and POCT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	KMAY	POCT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.51	2.35	+0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.24	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.68	0.87	+1.80

Drawdowns

KMAY vs. POCT - Drawdown Comparison

The maximum KMAY drawdown since its inception was -2.38%, smaller than the maximum POCT drawdown of -18.80%. Use the drawdown chart below to compare losses from any high point for KMAY and POCT.

Drawdown Indicators

	KMAY	POCT	Difference
Max Drawdown Largest peak-to-trough decline	-2.38%	-18.80%	+16.42%
Max Drawdown (1Y) Largest decline over 1 year	-2.38%	-4.40%	+2.02%
Max Drawdown (3Y) Largest decline over 3 years	—	-10.22%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-10.22%	—
Current Drawdown Current decline from peak	-0.69%	-0.20%	-0.49%
Average Drawdown Average peak-to-trough decline	-0.35%	-1.50%	+1.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.56%	0.86%	-0.30%

Volatility

KMAY vs. POCT - Volatility Comparison

Innovator U.S. Small Cap Power Buffer ETF - May (KMAY) has a higher volatility of 2.89% compared to Innovator U.S. Equity Power Buffer ETF October (POCT) at 0.94%. This indicates that KMAY's price experiences larger fluctuations and is considered to be riskier than POCT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KMAY	POCT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.89%	0.94%	+1.95%
Volatility (6M) Calculated over the trailing 6-month period	3.99%	4.77%	-0.78%
Volatility (1Y) Calculated over the trailing 1-year period	6.16%	6.17%	-0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.65%	7.94%	-1.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.65%	10.22%	-3.57%

KMAY vs. POCT - Expense Ratio Comparison

Both KMAY and POCT have an expense ratio of 0.79%.

Dividends

KMAY vs. POCT - Dividend Comparison

Neither KMAY nor POCT has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
KMAY Innovator U.S. Small Cap Power Buffer ETF - May	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
POCT Innovator U.S. Equity Power Buffer ETF October	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.21%

Frequently Asked Questions

Can I hold both KMAY and POCT in my portfolio?

KMAY and POCT have a correlation of 0.73, 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 POCT?

KMAY has higher volatility (2.89%) compared to POCT (0.94%). In terms of maximum drawdown, KMAY dropped -2.38% vs POCT's -18.80%.

Which ETF is better, KMAY or POCT?

On 1-year performance, KMAY leads with 15.29% vs 14.36% for POCT. Both ETFs have the same 0.79% expense ratio. On volatility, POCT has been the lower-risk option at 0.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KMAY or POCT?

Over the 1-year period, KMAY has performed better with a 15.29% return vs 14.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KMAY or POCT?

KMAY and POCT have the same expense ratio: 0.79% per year.

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

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

Which has better risk-adjusted returns?

KMAY currently has the higher Sharpe Ratio (2.51 vs 2.35), 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.