KMAY vs. STEN
KMAY (Innovator U.S. Small Cap Power Buffer ETF - May) and STEN (iShares Large Cap 10% Target Buffer Sep ETF) are both Defined Outcome funds. Both are actively managed. A 0.78 correlation means they provide meaningful diversification when combined. KMAY charges 0.79%/yr vs 0.50%/yr for STEN.
Performance
KMAY vs. STEN - Performance Comparison
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Returns By Period
In the year-to-date period, KMAY achieves a 4.86% return, which is significantly lower than STEN's 7.79% return.
KMAY
- 1D
- -0.66%
- 1M
- 1.80%
- YTD
- 4.86%
- 6M
- 5.68%
- 1Y
- 15.29%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
STEN
- 1D
- -0.30%
- 1M
- 3.31%
- YTD
- 7.79%
- 6M
- 8.22%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
KMAY vs. STEN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
KMAY Innovator U.S. Small Cap Power Buffer ETF - May | 4.86% | 2.44% |
STEN iShares Large Cap 10% Target Buffer Sep ETF | 7.79% | 2.05% |
Correlation
The correlation between KMAY and STEN is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 2, 2025 | 0.78 |
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Return for Risk
KMAY vs. STEN — Risk / Return Rank
KMAY
STEN
KMAY vs. STEN - 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 iShares Large Cap 10% Target Buffer Sep ETF (STEN). 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 | STEN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.51 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 6.46 | — | — |
| Martin ratioReturn relative to average drawdown | 27.25 | — | — |
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
| KMAY | STEN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.51 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.68 | 1.67 | +1.01 |
Drawdowns
KMAY vs. STEN - Drawdown Comparison
The maximum KMAY drawdown since its inception was -2.38%, smaller than the maximum STEN drawdown of -6.21%. Use the drawdown chart below to compare losses from any high point for KMAY and STEN.
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Drawdown Indicators
| KMAY | STEN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.38% | -6.21% | +3.83% |
Max Drawdown (1Y)Largest decline over 1 year | -2.38% | — | — |
Current DrawdownCurrent decline from peak | -0.69% | -0.30% | -0.39% |
Average DrawdownAverage peak-to-trough decline | -0.35% | -0.92% | +0.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | — | — |
Volatility
KMAY vs. STEN - Volatility Comparison
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Volatility by Period
| KMAY | STEN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.89% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 3.99% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 6.16% | 9.24% | -3.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.65% | 9.24% | -2.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.65% | 9.24% | -2.59% |
KMAY vs. STEN - Expense Ratio Comparison
KMAY has a 0.79% expense ratio, which is higher than STEN's 0.50% expense ratio.
Dividends
KMAY vs. STEN - Dividend Comparison
KMAY has not paid dividends to shareholders, while STEN's dividend yield for the trailing twelve months is around 0.29%.
| Position | TTM | 2025 |
|---|---|---|
KMAY Innovator U.S. Small Cap Power Buffer ETF - May | 0.00% | 0.00% |
STEN iShares Large Cap 10% Target Buffer Sep ETF | 0.29% | 0.31% |
Frequently Asked Questions
KMAY and STEN have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, STEN is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
STEN is cheaper with a 0.50% expense ratio, compared with 0.79% for KMAY.
STEN has the higher dividend yield at 0.29%, compared with 0.00% for KMAY.
They also come from different issuers: Innovator and BlackRock. Their fees differ too: 0.79% for KMAY and 0.50% for STEN.
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